Purepoint Uranium Group Inc: Rio Tinto Commences Drilling at Red Willow Project
February 01 2011 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) announced today
that a preliminary winter drilling program has commenced at the
company's Red Willow Project in Saskatchewan's Athabasca Basin. The
program, managed by Rio Tinto under a recently announced option
agreement, will initially focus on the Geneva Synform; a high
priority target situated SW of the Osprey Zone.
"The geophysical data has provided evidence of large scale
faulting including the north-east striking Geneva Fault that cuts
three separate conductors." said Scott Frostad, Purepoint's Vice
President, Exploration. "The Geneva Fault is a possible pathway for
uranium-rich hydrothermal fluids and will be tested where
cross-cutting structures may have formed traps of these
fluids".
Since December, technical resources from Rio Tinto have been
analyzing data from the Red Willow project and its surroundings in
order to determine their planned approach to its exploration.
Additional geophysics and drilling may be planned for the
summer.
Highlights
-- The Geneva area has shallow overburden and an estimated 30 to 100 metres
of Athabasca Sandstone with the targets being both unconformity-type and
basement-hosted uranium mineralization;
-- An airborne electromagnetic survey (VTEM) has delineated 3.8 kilometers
of conductors within a fold structure that is evident in the
aeromagnetic results;
-- Drilling will commence near Geneva Lake, which appears to be formed over
the intersection of the north-northeast striking Jake Fault and the
Geneva Fault.
Geneva Zone
The Geneva Zone is located near the southwest corner of the Red
Willow property. An airborne electromagnetic survey (VTEM)
delineated 3.8 kilometers of conductors that are within a distinct
fold structure highlighted by the aeromagnetic results and on trend
with the Mallen Lake uranium showing (5.9% U3O8 over 0.3m).
Three separate EM conductors have been interpreted from the VTEM
survey results. The first is approximately 2 kilometers in length
and is a moderate to strong, arcuate conductor believed to
represent graphitic sediments. All the EM profiles indicate that it
has a plate source dipping at a shallow angle inward and conforms
to basement geology (i.e. magnetic and gradient resistivity). The
second and third conductors are both approximately 900 metres in
length and roughly parallel to each other. All three conductors
appear to be cut by the Geneva Fault.
The results of a gravity survey has identified areas with
gravity lows that coincide with low apparent resistivity chimneys
(LARC Principal, R.Koch, PDAC Convention 2007) in the sandstone and
may represent zones of hydrothermal alteration. The resistivity
results from a gradient induced polarization (IP) survey and the
pole-dipole array IP survey also appear to be reflecting basement
geology with pelitic sediments as resistivity lows that are locally
faulted.
Drilling is being conducted by Aggressive Drilling Ltd. of
Prince Albert, SK.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of its twelve 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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