Purepoint Uranium Group Inc: Drilling Commences on Osprey Conductor at Red Willow Project
January 20 2010 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) announced today
that a 3,000 metre drilling program has commenced on the Osprey
Conductor at their wholly-owned Red Willow Project. The Osprey
Conductor is an "S"-shaped electromagnetic conductor that is over 6
kilometres in length. Ground geophysics conducted over the area
includes 3D resistivity, fixed-loop EM, stepwise moving-loop,
gravity and magnetics. During the most recent drill program on the
Osprey conductor, 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.
"Our best uranium intercepts from the Osprey conductor have been
related to a single parasitic fold located on one of the fold
limbs. Our ground geophysics indicates that more parasitic folds
exist and we will be targeting these during the current drill
program." said Scott Frostad, Vice President Exploration of
Purepoint Uranium Group Inc. "We will also target a possible thrust
fault where the conductor appears to be vertically displaced by
approximately 100 metres and the nose of a fold associated with a
strong uranium soil anomaly".
Red Willow
The Red Willow property consists of eight claims on the eastern
edge of the Athabasca Basin. The thickness of the Athabasca
sandstone varies from 0 to 80 metres and the basement rocks are
composed of intensely deformed and metamorphosed sedimentary,
volcanic and plutonic rocks trending NE to SW. Five major uranium
deposits, JEB, Midwest, Cigar Lake, McArthur River and Millennium,
are located along a NE to SW mine trend that extends through the
Red Willow Project.
The Red Willow property adjoins AREVA Resource Canada Inc.'s
claim group that contains the JEB, Sue, McClean and Caribou
deposits to the west and, to the south adjoins UEX's Hidden Bay
property that surrounds Cameco Corporation's Rabbit Lake, Collins
Bay and Eagle Point deposits.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of more than 55 defined target areas on its eight 100%
owned projects in the Canadian Athabasca Basin, and its 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 www.purepoint.ca
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