Purepoint Provides Update on Red Willow Project
April 14 2011 - 8:00AM
Marketwired
Purepoint Uranium Group Inc. (TSX VENTURE: PTU) provided an update
on Rio Tinto's advancement of Purepoint's Red Willow Project under
the option agreement described in Purepoint's news release of
December 21, 2010. Rio Tinto outlined their comprehensive data
integration approach to identifying deposits at the recently held
first meeting of the joint Technical Committee. That approach was
initiated this winter by Rio Tinto with the preparation of an
interpretive 3D wire frame model.
"Rio Tinto is applying their considerable expertise to this
project through an interpretation of the entire region" said Scott
Frostad, Purepoint's Vice President, Exploration. "Integrating
Purepoint's extensive geophysical, geochemical and diamond drill
data within a regional 3D model will provide a fresh interpretation
of the property's potential while confirming and prioritizing
exploration targets for ongoing work".
Rio Tinto's Project Generation Group is acting as a
collaborative partner and resource in reviewing Red Willow's
historical geochemistry results and proposing different approaches
to interpretation of the data.
Highlights
-- The 3D model incorporating geological data (lithology, structure and
alteration) and geophysical data (including inversions) is near
completion;
-- The Red Willow Technical Committee expects to review preliminary results
of the model at Rio Tinto's 3D Visualization Centre in Salt Lake City in
June 2011;
-- The Geneva and Osprey Zones have provided the baseline focus of the 3D
model development thus far;
-- Two drill holes were completed in Geneva Zone in early 2011 in order to
validate initial geophysical and structural interpretations. Further
fieldwork, possibly including ground geophysics and additional drilling,
may be undertaken during Summer 2011 to further validate the
interpretive 3D model;
-- Based on the development of the model and new data from fieldwork in the
summer, a more substantive drill program on exploration targets
identified by the refined 3D model and interpretation will be planned
for Winter 2012.
Geneva Zone
The two 2011 drill holes were collared 45 metres apart on the
west side of Geneva Lake to validate initial geophysical and
structural interpretations. Geneva Lake was interpreted as being a
depression formed over the intersection of the north-northeast
striking Jake Fault and the northeast striking Geneva Fault. The
results of the drilling will be utilized in the interpretive 3D
wireframe model of the Geneva Zone. An alteration zone encountered
by GEN11-01 within the sandstone correlated with a resistivity low
anomaly and GEN11-02 intersected significant structures in the
basement rocks as initially interpreted. The presence of pyrrhotite
in the bottom of both holes may help explain the presence of the
magnetic high / gravity high anomaly in this area. No anomalous
radioactivity was intersected by these two holes.
The Geneva Zone is located near the southwest corner of the Red
Willow property. An airborne electromagnetic (EM) survey 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).
Red Willow
The Red Willow property covers 25,612 hectares on the eastern
edge of the Athabasca Basin. The Athabasca sandstone is shallow and
the depth to unconformity varies from 0 to 80 metres. The basement
rocks are composed of intensely deformed and metamorphosed
sedimentary, volcanic and plutonic rocks trending NE to SW. Five
major uranium deposits are located along a NE to SW mine trend that
extends through the Red Willow Project. To date only six of Red
Willow's 21 delineated target zones have been subject to first pass
drilling.
The Red Willow property adjoins AREVA Resource Canada Inc.'s
claim group that contains the JEB, Sue, McClean and Caribou
deposits to the west and, to the south adjoins UEX's Hidden Bay
property that surrounds Cameco Corporation's Rabbit Lake, Collins
Bay and Eagle Point deposits.
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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