Purepoint Uranium Group Inc: Stakes near Midwest and Roughrider
January 22 2009 - 11:02AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) today announced
that it has staked a new claim within the well established uranium
mine trend along the eastern edge of Saskatchewan's Athabasca
Basin. The new 100% owned Henday Lake property is within ten
kilometers of both Hathor Exploration Limited's recently discovered
Roughrider Zone and the Midwest uranium deposit owned by Denison
Mines Corp., AREVA Resources Canada Inc. and OURD.
The Henday Lake property falls within the Mudjatik-Wollaston
Tectonic Zone, a northeast trending structural zone along the
eastern margin of the Basin. Over 95% of known Canadian uranium
deposits, and all operating uranium mines in Canada, are located on
this trend.
"Purepoint actively maintains and analyzes an extensive data
base of all publicly available exploration work performed in the
Basin in order to capitalize on exciting opportunities such as
this" said Chris Frostad, President & CEO of Purepoint. "To be
able to acquire by staking such a promising and virtually untested
target in the heart of the Basin's uranium mine district is
certainly our good fortune."
Highlights:
- located nine kilometres northwest of Areva's Midwest Lake
deposit (41 million lbs. U3O8) and ten kilometers west of Hathor's
Roughrider Zone
- up to nine kilometers of EM conductors remain virtually
untested
- the single known hole (1998 by Cogema Resources) encountered a
strongly graphitic fault gouge
- depth to basement is locally less than 350 metres
- within a magnetic low believed to represent pelitic basement
rocks, a typical host rock for economic uranium mineralization
The Henday Lake property is 1,029 hectares in size, twice the
size of Hathor's nearby Midwest Northeast Project hosting their
Roughrider Zone. Only one drill hole is known to have been drilled
on Purepoint's Henday property. Hole HLH8-71 was drilled by Cogema
Resources in 1998. That hole encountered a steeply dipping,
strongly graphitic fault gouge at the bottom of the hole.
The Mudjatik-Wollaston Tectonic Zone is the NE trending high
strain tectonic zone marking the boundary between the Archean
gneisses and granitoids of the Mudjatik Domain to the west and
Archean gneisses, metasediments, and pegmatite intrusions of the
Wollaston domain to the east.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of more than 55 defined target areas on its nine 100%
owned projects in the Canadian Athabasca Basin, and its two Basin
projects joint ventured with Cameco Corporation and UEM Inc., a
company owned equally by 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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