Purepoint Uranium Group Inc: United Uranium Discontinues Red Willow Claim
February 25 2010 - 7:53AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) confirmed today
that United Uranium Corp has discontinued its action and released
Purepoint from any obligation pertaining to a mineral claim staked
by Purepoint in December 2007. The claim in question lies adjacent
to Purepoint's Red Willow project and hosts the nose of a fold in
the Osprey conductor that is coincident with a magnetic low and
soil anomaly outlined last fall. The Osprey conductor is the focus
of this year's winter drill program, and limited initial drill
testing of the conductor's fold nose is planned. Diamond drill
results to date on the Osprey conductor have returned uranium
levels as high as 3% U3O8.
"We are pleased to have this distraction behind us so that we
can resume the exploration of this promising target zone" said
Scott Frostad, Vice President Exploration of Purepoint Uranium
Group Inc. "The geology, geophysics and most recent drill results
make the Osprey Zone one of our most exciting priorities".
New maps and diagrams outlining the Osprey Zone are now
available on the company's web site at www.purepoint.ca.
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 zero to 80 metres. The basement rocks are
composed of intensely deformed and metamorphosed sedimentary,
volcanic and plutonic rocks trending NE to SW. Five major uranium
deposits, namely 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 hosts their Horseshoe, Raven and West Bear deposits
and 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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