Purepoint Uranium Group Inc.: Completes Successful Field Test of CAMIRO Uranium Deposit Identification Techniques
June 01 2010 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) announced today the
results of a six month geochemical/diamond drill analysis designed
to validate the results of a syndicated research study recently
submitted by the Canadian Mining Industry Research Organization
(CAMIRO).
"These techniques will help us to identify deep uranium
mineralization from surface" said Chris Frostad, President &
CEO of Purepoint Uranium Group Inc. "We anticipate that utilizing
CAMIRO's findings will significantly reduce the time to new uranium
discoveries while providing lower cost exploration methods".
In 2006 The Canadian Mining Industry Research Organization
(CAMIRO) carried out a scoping study documenting and evaluating the
relative effectiveness of methods applied in the past to explore
for uranium in the Athabasca Basin. This scoping phase formed the
basis for designing field studies to develop new methods and
optimize existing ones for the direct detection of uranium deposits
along the unconformity of the Athabasca sandstone. Field studies
were carried out in 2008 and 2009 and the final report was released
in April 2010. All scientific results arising from the Research
Project are subject to a confidentiality period ending on March 15,
2013.
Purepoint and other members of Canada's uranium industry
(including Cameco, AREVA, Denison and the Saskatchewan Research
Council) sponsored the three year research study. The field samples
were collected from the areas overlying the McClean Lake, Cigar
Lake West and Dawn Lake uranium deposits in Saskatchewan's
Athabasca Basin.
"Now that we are confident in the utility of this approach, we
will be incorporating it into our ongoing exploration programs to
help prioritize our drill targets" said Scott Frostad, Vice
President Exploration at Purepoint. "We consider the work performed
by the late Mr. Robert Jackson who initially led the project and
the team at CAMIRO will prove invaluable in advancing one of the
world's most prolific uranium bearing regions".
Red Willow Results
The CAMIRO geochemical techniques were applied over three
separate zones within the Osprey Area.
Osprey Hinge Zone - The strongest CAMIRO geochemical anomaly
returned from the 2009 field sampling was located over the nose of
the Osprey fold. The three drill holes in this zone discovered a
radioactive fault now named the Hinge Fault. RW-29 intersected the
Hinge Fault approximately 70 metres below surface while RW-41,
drilled beneath RW-29, intersected this vertical structure at
approximately 150 metres below surface. The best assays from the
Hinge Fault are provided below. The strike of the Hinge Fault is
currently unknown and remains untested.
Osprey Lake Zone - The area surrounding the RW-07 discovery
(0.20% eU3O8 over 5.8 metres) also returned a CAMIRO geochemical
anomaly. Drilling within this area during 2010 continued to return
promising results with assays up to 5420 ppm U (0.64% U3O8).
Osprey Conductor North - Despite the existence of classic
geophysical indicators, the CAMIRO geochemical sampling failed to
return anomalous results from this high priority drill target.
Geophysics indicated that the Osprey conductor was bifurcated
(split into two parts) in this area and offset by a cross-cutting
fault. Drilling in this area intersected wide intervals of the
target host rock, graphitic pelite, as well as major structures but
no anomalous radioactivity was encountered.
Significant Uranium Intercepts from Red Willow, 2010 Drill
Program
Uranium Lb
Hole No. Depth (metres) Width ppm U3O8/ton
----------------------------------------------------------------------------
Osprey Hinge Zone
RW-29 74.7 76.3 1.6 288 0.6
RW-41 159.1 159.5 0.4 358 0.7
----------------------------------------------------------------------------
Osprey Lake Zone
RW-34 57.8 58.6 0.8 340 0.7
RW-34 80.2 80.6 0.4 1300 2.5
RW-35 64.8 65.6 0.8 5350 10.5
RW-35 83.8 84.0 0.2 921 1.8
RW-37 54.8 55.4 0.6 499 1.0
RW-38 66.5 71.3 4.8 1160 2.3
includes 66.5 67.3 0.8 5420 10.6
RW-39 78.4 79.8 1.4 360 0.7
RW-40 60.2 61.7 1.5 3970 7.8
----------------------------------------------------------------------------
Osprey Conductor North
No significant assays
----------------------------------------------------------------------------
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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