Purepoint Stakes Forsythe Lake Property in Athabasca Basin
January 13 2011 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) reported today that
it has staked a 4,217 hectare property near the north-eastern edge
of Canada's Athabasca Basin. The Forsythe Lake property contains
known electromagnetic (EM) conductors that extend onto the
neighbouring Denison/JNR Bell Lake Project and lies approximately
20 kilometres west of Cameco's La Rocque occurrence (which returned
up to 33.9% U3O8 over 5.5 metres).
"We maintain a very active watch for prospective projects that
may occasionally come available in the Basin" said Chris Frostad,
President & CEO of Purepoint. "As the uranium sector emerges
from the recent global economic collapse we are fortunate to be
able to add such a promising prospect to our portfolio".
Forsythe Lake
A previous airborne EM and magnetic survey outlined two
parallel, east-west striking EM conductors that are associated with
a magnetic low and total 10 kilometers in length. The conductors
terminate in the west against a very strong, oval shaped magnetic
anomaly having an associated increase in conductivity. Modeling of
this anomaly suggests that it is located in the basement rocks at a
depth of 430 metres, is cylindrical in shape and has a diameter of
approximately 1.2 kilometres.
Review of government assessment files show that the Forsythe
Lake property has never been drill tested. Initial drill targets
will be areas where the EM conductors show evidence of structural
disruption, possibly creating traps for uranium-rich hydrothermal
fluids. One promising target is where the conductors terminate
against the magnetic anomaly, and a second is the location at which
the most northern conductor is apparently offset by some 500
metres.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of its eleven projects in the Canadian Athabasca Basin.
Purepoint proudly maintains project ventures in the Basin with the
three largest uranium producers in the world, Cameco Corporation,
AREVA and Rio Tinto. Established in the Athabasca Basin well before
the initial resurgence in uranium earlier last decade, Purepoint is
actively advancing a 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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