TORONTO, April 27, 2021 /CNW/ - Purepoint Uranium
Group Inc. (TSXV: PTU) ("Purepoint" or the "Company")
today provided an update on its 100%-owned Turnor Lake project in the eastern uranium
mine district of the Athabasca
Basin, Saskatchewan Canada. Initial focus will be on the
Serin conductor which lies adjacent to and on trend with IsoEnergy
Ltd.'s Hurricane Zone (38.8% U3O8 over 7.5m) along the La Rocque Uranium Corridor.
"Our Turnor Lake project hosts a complex geological
setting associated with numerous, nearby high-grade uranium
discoveries" said Chris Frostad,
Purepoint's President and CEO. "The considerable geophysical work
and first pass drilling carried out to date by Purepoint has
prepared Turnor Lake for immediate
drilling."
Highlights
- The 100%-owned Turnor Lake
project consists of 4 claims totaling 9,705 hectares on the eastern
side of Canada's Athabasca Basin
- Four distinct exploration areas have been defined by Purepoint
– the Serin Conductor, the Laysan Zone, the Turnor Lake Zone and
the Turaco Zone
- The Serin conductor lies within the La Rocque corridor that
hosts Orano Canada Inc.'s Alligator prospect (3.8%
U3O8 over 10.5m
in hole WF-08), Cameco Corp's La Rocque showing (29.9%
U3O8 over 7.0m)
and, most recently, IsoEnergy Ltd.'s Hurricane Zone which has
reported results of 38.8% U3O8 over
7.5m (press release December 1, 2020)
- The Laysan Zone hosts historic hole OD-1 that returned 0.06%
U3O8 over 3.4m
- The Turnor Lake Zone is a target associated with numerous
high-grade showings to the south, including Orano Canada's HLH-50
(2.7% U3O8 over 1.2 m)
- The Turaco Zone has undergone considerable geophysical
surveying carried out by Purepoint and first pass drilling
- A video tour of the Turnor
Lake project can be viewed at
https://youtu.be/mEI7oirmesc
Turnor Lake Project
Turnor Lake is most notably
associated with the Kelsey Dome Granite, a pinwheel shaped magnetic
high encircled with clusters of graphitic conductors and numerous
high-grade uranium showings. The La Rocque Uranium Corridor
bisects the northern portion of the project area and lies along the
western edge of the Kelsey Dome Formation.
Extensive geophysical programs have allowed Purepoint to outline
approximately 34 kilometres of conductors throughout the Turnor
Lake Project. Most recently, Purepoint created a 3D
lithological model from interpreted cross-sections, drill hole
information and surface/bedrock geology. Geophysical data was
added in tight integration with the geological model and newly
created geophysical inversions, allowing the geophysical data to be
represented by a 3D distribution of physical rock properties.
Using GOCAD Mining suite Targeting Workflow by Mira Geoscience, the
geological, geochemical and geophysical datasets were then
integrated and the exploration drill targets were refined.
Serin Conductor
The Serin conductor is interpreted to be the northeastern
extension of the conductor system which hosts Cameco Corp's high
grade uranium mineralization at La Rocque Lake (29.9% U3O8 over
7.0 m in hole Q22-40) and IsoEnergy
Ltd.'s Laroque East project which hosts their recently discovered
high-grade Hurricane Zone (38.8% U3O8 over 7.5 m in hole LE20-76). Serin is a near-vertical
conductor extending northeast-southwest for at least 2.2 km and is
interpreted to lie at a shallow depth of 400 to 450m below surface.
Results from EM surveys conducted by Purepoint suggest the
conductor is offset by approximately 150 metres at the same
location that a seismic survey, conducted by Saskatchewan Energy
and Mines in 1984, reflects a significant down drop thrust fault in
the basement topography. The MacArthur River Deposit, one of the
world's largest uranium mines, was formed at the site of a similar
basement step-fault that likely focused mineralized fluids.
Laysan Zone
Anchoring the Laysan Zone is diamond drill hole OD-1, completed
by Saskatchewan Mining Development Corp. in 1983. The hole
returned 0.06% U3O8 over 3.4 m within
hydrothermally altered pelitic basement rock immediately below the
unconformity. Anomalous arsenic, nickel, and cobalt over
0.5 m were associated with the
alteration.
First pass drilling performed by Purepoint has outlined
hydrothermal alteration associated with anomalous uranium in the
sandstone (e.g., TL-03 with 22 metres of clay alteration and 29
metres of 34 parts per million U). By way of comparison, the
Athabasca sandstone has a
consistent background uranium content of only three to five parts
per million.
Turnor Lake Zone
Located in the South East corner of the project is the Turnor
Lake Zone; a 2.7 km long conductor lying coincident with the long
narrow Turnor Lake.
Anomalous uranium has also been intersected one-half kilometre
south of the property in Cogema (now Orano Canada Inc.) drill hole
HLH-50 (2.7% U3O8 over 1.2 m).
The underlying basement rocks in this hole consisted of altered,
graphitic and pyritic sediments that were highly fractured.
Turaco Zone
To the South of the Laysan conductors lie a perpendicular
cluster of graphitic conductors within a magnetic low referred to
as the Turaco Zone.
Numerous ground geophysical surveys have been conducted by
Purepoint including a three-dimensional resistivity survey, a time
domain electromagnetic survey and a gravity survey. Initial
drilling of 6,024 metres demonstrated that anomalous uranium
mineralization is spatially associated with the unconformity and is
locally present within basement structures. Highlights include
Drill hole TL-19 that returned 1230 ppm U (0.15% U3O8) over 0.12
metres just a few centimetres above the unconformity while drill
hole TL-31 returned 641 ppm U over 10 cm from a structure within
the basement rock.
The Company cautions that the mineralization in the adjacent
properties is not necessarily indicative of the mineralization that
may be identified by the Company's ongoing and upcoming exploration
work.
About Purepoint
Purepoint Uranium Group Inc. actively operates an exploration
pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium
region. Purepoint's flagship project is the Hook Lake Project, a
joint venture with two of the largest uranium suppliers in the
world, Cameco Corporation and Orano Canada Inc. The Hook Lake
JV Project is on trend with recent high-grade uranium discoveries
including Fission Uranium's Triple R Deposit and NexGen's Arrow
Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over
1.3m including 10m interval of 10.3% U3O8). Together with its
flagship project, the Company's projects stretch across
approximately 185,000 hectares of claims throughout the Athabasca
Basin. These claims host over 20 distinct and well-defined
drill target areas with advanced geophysical surveys completed, and
in some cases, have had first pass drilling performed.
Scott Frostad BSc, MASc, PGeo,
Purepoint's Vice President, Exploration, is the Qualified
Person responsible for technical content of this release.
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. These risks and uncertainties could
cause actual results and the Company's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and expressly qualified in their entirety by this notice.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/purepoint-uranium-provides-overview-and-plans-at-turnor-lake-project-301277145.html
SOURCE Purepoint Uranium Group Inc.