Purepoint Uranium Group Inc: Turnor Lake Update
June 15 2010 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) today released its
upcoming exploration plans for the Turnor Lake Project on the
north-eastern margin of Canada's Athabasca Basin. The company
intends to prioritize its drill targets at Turnor Lake by
conducting field work that utilizes the Canadian Mining Industry
Research Organization (CAMIRO) methodologies for the direct
detection of uranium deposits (see Purepoint press release dated
June 1, 2010). A series of detailed geophysical surveys have been
conducted on the property since November 2006 and numerous drill
targets, including EM conductors and structurally complex areas
having evidence of intersecting structures, remain untested.
"Turnor Lake has consistently returned results indicating a
widespread uranium mineralizing event" said Scott Frostad, Vice
President Exploration, Purepoint Uranium Group Inc. "It is a
structurally complex property, and we anticipate that our
application of the CAMIRO techniques at Turnor Lake will assist in
prioritizing the property's best drill targets."
Turnor Lake Highlights:
-- The Turnor Lake conductors wrap around the Kelsey Dome, the same
structural feature associated with neighboring high grade uranium
showings (including Cameco's La Rocque Deposit which encountered grades
up to 33.9% U3O8 over 5.5 m);
-- The Quetzal Zone is comprised of a complex series of electromagnetic
conductors interpreted to represent faulted graphitic rocks of a nature
typically associated with uranium deposits in the Athabasca Basin.
-- Holes completed by Purepoint south of the Quetzal Zone have outlined
uranium-rich alteration (e.g. TL-03 with 22 metres of clay alteration
and 29 metres of 34 parts per million U). By way of comparison, the
Athabasca sandstone has a consistent background uranium content of only
0.5 to 2 parts per million;
-- IP resistivity survey results suggest extensive zones of sandstone
alteration underlie the Quetzal Zone, and the detailed magnetic and
gravity surveys indicate a high degree of structural complexity in that
Zone. The association of these promising indicators (hydrothermal
alteration and structural complexity) makes this Zone highly
prospective;
-- A seismic survey conducted over the Serin Conductor indicates it is cut
by a significant step-fault. Similar faults elsewhere in the Basin have
provided structural traps that have localized uranium bearing
hydrothermal fluids and resulted in the formation of ore bodies.
Quetzal Zone
The Quetzal Zone is located north of Purepoint's previous
drilling and was the subject of one airborne and four types of
ground geophysical surveys during 2007. These surveys
(electromagnetics, magnetics, IP resistivity and gravity) defined
over seven kilometers of EM conductors within a complex structural
setting. Areas interpreted to be underlain by graphitic rocks and
crosscutting structures have been targeted, as they are ideally
suited to host a typical Athabasca Basin unconformity uranium
deposit.
Cotinga Lake
EM conductors outlined within the Cotinga Lake area are
coincident with sandstone having a low apparent resistivity
response that is thought to represent favourable clay alteration. A
water sampling program carried out by Asamera Oil Corporation in
1977 found Cotinga Lake to have elevated concentrations of
radon.
Serin Conductor
The Serin conductor is interpreted to be the northeastern
extension of the conductor which hosts Cameco's La Rocque showing.
Results from EM surveys suggest the conductor is offset by
approximately 150 metres at the same location that a refraction
seismic survey, conducted by Saskatchewan Energy and Mines in 1984,
reflects a significant down drop in the basement topography. The
MacArthur River Deposit, one of the world's largest uranium mines,
was formed at the site of a similar basement step-fault.
The Turnor Lake Project is 100% owned by Purepoint. This 9,705
hectare property covers graphitic electromagnetic (EM) conductors
that are associated with uranium showings on adjoining properties,
namely Cameco's La Rocque occurrence (up to 33.9% U3O8 over 5.5 m)
to the west and Areva's HLH-50 intercept (5.2% U3O8 over 0.38 m)
located to the south. The project lies in close proximity to
several uranium deposits, including Midwest Lake, McClean Lake and
Eagle Point, and has a shallow depth to the unconformity at
approximately 180 metres.
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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