Purepoint Uranium Group Inc: Hits 3.03% U3O8 at Osprey Zone on Red Willow
April 22 2008 - 8:30AM
Marketwired
TORONTO, ONTARIO is pleased to report the initial assay results
from their Red Willow winter diamond drill program in the Athabasca
Basin. Diamond drill hole RW-19 returned assay grades up to 3.03%
U3O8 in a structure averaging 0.58% U3O8 over 1.0 metre at a
shallow depth of less than 100 metres. RW-19 is located
approximately 80 metres north from the discovery hole RW-07, which
reported 0.20% e U3O8 over 5.8 metres in December 2007.
"We continue to be extremely encouraged with the early results
from the Osprey Zone" said Scott Frostad, VP Exploration of
Purepoint Uranium Group Inc. "We've only begun testing a small
portion of this structurally complex area and are anxious to resume
drilling here after spring break-up."
Purepoint awaits assay results from the second half of the Red
Willow winter drill program, which included additional holes at the
Osprey Zone (RW-21 to 24) as well as first pass holes at the Long
Lake and Lyon Lake Zones (LL-08-01 to 07).
Highlights
- 0.58% U3O8 over 1.0 metre (from 93.3 to 94.3 m) including a 10
cm interval assaying 3.03% U3O8 in DDH RW-19. The radioactive
intercept in RW-19 is located 80 metres north of the radioactive
structure intersected by DDH RW-07.
- 0.27% U3O8 over 1.2 metres (from 65.0 to 66.2 m) in DDH RW-13
that represents a 20 metre step-out south of RW-07.
- Drilling is planned to continue at the Osprey Zone following
spring break-up.
All drill holes were probed with a Mount Sopris 2PGA-1000
Poly-Gamma Probe and downhole surveyed using a Reflex EZ-SHOT tool.
Drill hole collar locations were surveyed this month by Tri-City
Surveys of Saskatoon. Drill core samples are analyzed at the
Saskatchewan Research Laboratory in Saskatoon.
Overall 4,460 metres of diamond drilling was completed at Red
Willow during this winter season. Purepoint was very pleased with
the performance of Aggressive Drilling of Saskatoon and has
contracted with that company to drill up to 30,000 metres. Permits
have already been issued for the continued drilling scheduled for
Red Willow this spring.
Key assay results are summarized below:
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Hole From (m) To (m) Width (m) % U3O8
------------------------------------------
RW-08 72.3 72.7 0.4 0.12
------------------------------------------
159.2 159.4 0.2 0.10
------------------------------------------
------------------------------------------
RW-10 58.6 58.7 0.1 0.50
------------------------------------------
62.5 64.2 1.7 0.09
------------------------------------------
------------------------------------------
RW-13 65.0 66.2 1.2 0.27
------------------------------------------
------------------------------------------
RW-19 93.3 94.3 1.0 0.58
------------------------------------------
Includes
------------------------------------------
94.1 94.2 0.1 3.03
------------------------------------------
------------------------------------------
RW-20 26.0 28.7 2.7 0.05
------------------------------------------
Includes
------------------------------------------
26.8 27.1 0.3 0.15
------------------------------------------
Red Willow
Purepoint's 100% owned Red Willow project adjoins AREVA Resource
Canada Inc.'s claim group that contains the JEB, Sue, McClean and
Caribou deposits to the west, as well as UEX's Hidden Bay project
that surrounds the Rabbit Lake, Collins Bay and Eagle Point
deposits to the south. Discovered in 1980, Cameco's Eagle Point
mine lies approximately 15 kilometres south of Purepoint's Red
Willow Project and remains the longest producing uranium mine in
Canada, with total mined and proven resources of 133 million lbs.
U3O8.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of 37 defined target areas on nine100% owned projects
in the Canadian Athabasca Basin and eight target areas hosted
within two Basin projects joint ventured with Cameco Corporation
and AREVA Resources Canada Inc. Established in the Basin well
before the resurgence in uranium, Purepoint is actively advancing
this large portfolio of multiple drill targets in the world's
richest uranium region.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President,
Exploration, is the Qualified Person responsible for technical
content of this release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Purepoint Uranium Group Inc. Chris Frostad President
and CEO (416) 603-8368 Website: www.purepoint.ca
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