Purepoint Uranium Group Inc: Completes Airborne Survey at Umfreville North and South Newnham Projects
November 25 2010 - 9:22AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) is pleased to
announce that it has completed a High Resolution Gradient
Aeromagnetic and XDS VLF-EM survey at its 100 percent owned
Umfreville North and South Newnham properties. A total of 1,112
line kilometres were flown on these two properties in the northeast
margin of the Canadian Athabasca Basin in northern Saskatchewan.
The new magnetic data set is much more detailed than previous
surveys as a result of the higher-resolution equipment and the
lower ground clearance and closer line spacing at which the
properties were flown.
Highlights:
-- New interpretation of the Perching Zone (Umfreville North) has clearly
defined structural exploration targets with geophysical signatures
representative of hydrothermal alteration;
-- New drill targets identified within the Porcupine Zone (Umfreville
North) highlighted by cross cutting faults and potential hydrothermal
alteration;
Umfreville North
The Umfreville North property (5,460 hectares) is transected by
the major north-northwest trending Fond du Lac Fault. Previous work
by Purepoint over the Umfreville claim group includes a MEGATEM II
airborne electromagnetic (EM) survey in 2005 and an airborne full
tensor gravity gradiometry (Air-FTG) survey in 2007. Based on the
results of these surveys, the Perching and Porcupine Zones were
prioritized as major exploration targets and the original claim
group was reduced in size.
Based on the new aeromagnetics, the Fond du Lac Fault has now
been resolved into two separate splayed faults to account for a
broad magnetic low that occurs within the Perching Zone. The
magnetic low on the Fond du Lac Fault coincides with a gravity low
within the Perching Zone and possibly represents an area of
hydrothermal alteration. The area of the gravity low/magnetic low
may also be the source of anomalous uranium concentrations found in
lake sediments to the immediate west (down ice) by a reconnaissance
geochemical survey conducted by the Saskatchewan Department of
Mineral Resources in 1976.
A new north-west trending linear VLF anomaly has been defined on
Umfreville North. The northern end of the VLF anomaly lies within
the Porcupine Zone where it is terminated by a north-south trending
fault and corresponds with a gravity low. The Porcupine Zone has
been deemed prospective for uranium mineralization due a magnetic
low area, possibly representing hydrothermal alteration, which is
associated with the Fond du Lac Fault.
South Newnham
The South Newnham property (2,884 hectares) was staked by
Purepoint because of the presence of the significant north-south
Newnham fault coincident with a magnetic low. The fault was
considered a possible conduit for uraniferous fluids, while the
magnetic low suggested metapelite rocks. Previous work at South
Newnham by Purepoint includes a MEGATEM II airborne electromagnetic
(EM) survey in 2005 and a helicopter-borne high resolution
radiometric (gamma-ray spectrometry) survey in 2007. The
radiometric survey outlined six areas with uranium radiation counts
well above background values that are considered to be significant
anomalies.
This most recent aeromagnetic survey was very useful in defining
faults and lithology. However, the VLF survey failed to return
meaning results due to the presence of conductive glacial drumlins.
The North and South Zones remain prospective areas due to their
location up ice of significant airborne radiometric anomalies and
the presence of the major Newnham Fault , particularly with the
newly interpreted contacts between Archean granitic rocks (magnetic
high) and favourable pelitic gneisses (magnetic low).
The results of the high-resolution aeromagnetic and XDS VLF-EM
survey have helped further define the Perching and Porcupine Zones
at the Umfreville North property and the North and South Zones at
the South Newnham property. These well-defined exploration targets
will likely be followed-up with an investigation by field
crews.
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
Purepoint Uranium (TSXV:PTU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Purepoint Uranium (TSXV:PTU)
Historical Stock Chart
From Jul 2023 to Jul 2024