Purepoint Uranium Group Inc. Reports Results for Winter Drill
Program at Hook Lake JV
TORONTO, ONTARIO--(Marketwired - May 28, 2014) - Purepoint
Uranium Group Inc. (TSX-VENTURE:PTU) today provided results from
the recently completed ten-hole, 3,704-metre drill program at the
Hook Lake JV project in Saskatchewan's Athabasca Basin. Purepoint
announced a uranium discovery at Hook Lake earlier this year (press
release dated March 10th, 2014) in the Spitfire area with results
up to 0.32% U3O8 over 6.2 metres. The Hook Lake JV project is
located only 5 kilometres northeast of Fission Uranium's new
high-grade PLS uranium discovery and covers the projection of the
PLS conductive host rocks. The Hook Lake project is a joint venture
with AREVA Resources Canada Inc. and Cameco Corporation.
Of the ten diamond drill holes completed during the 2014 winter
drill program, six holes were drilled within the Spitfire discovery
area, 3 holes targeted the Patterson Lake conductor and 1 hole
tested the W conductor beneath Jed Lake. The fifth hole within the
Spitfire discovery area, HK14-15, was drilled 35 metres to the
northeast of HK14-09 that returned 0.32% U3O8 over 6.2 metres. Hole
HK14-15 intersected 1.7 metres of weak mineralization (weighted
average of 101 ppm U) before drilling 14 metres of strongly sheared
graphitic pelitic gneiss. Hole HK14-17, the sixth and final hole
within the Spitfire area, successfully extended the mineralization
15 metres to the south with downhole gamma results returning 0.15%
eU3O8 over 2.1 metres. The hole then intersected 29 metres of
strongly sheared graphitic pelitic gneiss approximately 19 metres
below the mineralized zone.
"We and our partners are obviously optimistic that more uranium
mineralization remains to be discovered along the D2 conductor"
said Scott Frostad, Purepoint's Vice President of Exploration. "We
are currently designing an enhanced ground geophysical survey in
the Spitfire area to help identify structural blowouts which could
yield a wider zone of higher grade uranium mineralization."
Highlights
- Drill hole HK14-17, the final hole of the program, successfully
extended the Spitfire uranium mineralization, returning 0.15% eU3O8
over 2.1 metres;
- The Spitfire mineralization and associated graphitic shear zone
lie along the D2 conductor that is interpreted as a thrust fault
directly related to the PLS deposits and the PLS mineralized
trend;
- The mineralized zone remains open to the north where airborne
geophysics suggests there is a more structurally complex setting;
and
- A detailed DC Resistivity survey, and possibly an IP
Chargeability survey, will be considered by the joint venture
before drilling resumes.
Spitfire Area
The Spitfire mineralization and graphitic-pyritic shear zone is
associated with the D2 electromagnetic (EM) conductor that is
approximately 3.2 kilometres in length and interpreted to lie along
a thrust fault directly related to the PLS deposits. Condor
Consulting of Boulder, CO recently completed a litho-structural map
for the Hook Lake JV based on regional airborne geophysical results
and has suggested that a discreet "PLS trend" is aligned with the
D2 conductor and may represent a thrust fault. The Hook Lake JV
partners consider that further ground geophysics is warranted
within the Spitfire area prior to the next drilling campaign and
the design for a detailed DC Resistivity survey, and possibly an IP
Chargeability survey, is currently being finalized.
The fifth hole within the Spitfire area, HK14-15, was collared
25 metres northeast of holes HK14-09 and 11. Similar to the
previous three land holes, HK14-15 was drilled towards the
northwest (315 degrees) with a dip of -70 degrees targeting the
western extension of the graphitic shear. The hole was cased
through 101.2 metres of overburden then numerous intervals of
unconsolidated Athabasca sandstone before reaching the unconformity
at a depth of 151.0 metres. Quartz-rich semi-pelitic gneiss,
locally strongly sheared with strong brick-red hematite alteration
was encountered to a depth of 170.6 metres then chlorite alteration
was predominant to 226.0 metres. A 1.7 metre interval of weak
mineralization (weighted average of 101 ppm U) was associated with
moderate limonite alteration and a strongly disrupted foliation
between 222.2 and 223.9 metres. Relatively unaltered and strongly
sheared Graphitic pelitic gneiss with minor gouge intervals was
then encountered from 226.0 to 239.8 metres. Quartz-rich
semi-pelitic gneiss with weak to moderate chlorite alteration and
minor intervals of Quartzite and Calc-silicate was intersected
before the hole was completed at 378.0 metres.
HK14-17 was collared 10 metres east of HK14-15 but drilled to
the west (265 degrees) with a dip of -70 degrees targeting the
southern extension of the mineralized zone. Overburden was cased to
a depth of 138.0 metres then strongly bleached Athabasca sandstone
was intersected before reaching the unconformity at 150.7 metres.
Quartz-rich pelitic gneiss with strong hematite and clay alteration
was encountered to 189.0 metres, then strong chloritization and
shearing to a depth of 232.7 metres. Downhole gamma results
returned 0.15% eU3O8 over a 2.1 metre interval having a pitted
texture, pervasive limonite alteration and patchy hematite
alteration between 212.0 and 214.1 metres. Strongly sheared
Graphitic pelitic gneiss with variable foliation was encountered
for 29 metres to 262.0 metres and hosted a 0.5 metre pasty fault
gouge. Chlorite altered Quartz-rich semi-pelitic gneiss with minor
intervals of Quartzite and Calc-silicate was then drilled to the
completion depth of 417.0 metres.
Patterson Lake Area
Three drill holes, HK14-10, 13 and 14, were drilled on Patterson
Lake to test the conductor outlined by last year's small moving
loop transient electromagnetic survey.
Hole HK14-10 was drilled vertically, cased through overburden to
a depth of 82 metres, and then drilled Athabasca sandstone to a
depth of 92 metres. Intensely clay altered pegmatite was
encountered to 101 metres followed by strongly sheared, bleached
and strongly hematized semi-pelitic rocks to a depth of 132 metres.
The semi-pelitic rocks displayed strong chloritic alteration to a
depth of 270 metres before becoming fresh in appearance. The hole
was completed at a depth of 300 metres without explaining the EM
conductor and did not encounter significant radiation. The
foliation of the rocks is almost vertical at this location
suggesting the targeted EM conductor (graphitic unit) is also near
vertical.
Hole HK14-13 was drilled vertically on the Patterson Lake
conductor 750 metres southwest of HK14-10. The hole did not
intersect sandstone before reaching basement rocks at a depth of 81
metres. Very steeply dipping chloritic garnetiferous semi-pelitic
gneiss was encountered to a completion depth of 389 metres. The
hole failed to explain the EM conductor in this location and did
not encounter significant radiation.
Hole HK14-14 was collared 60 metres southeast of HK14-10 and
cased overburden to a depth of 98 metres before encountering
strongly hematized semi-pelitic gneiss with rehealed
breccia/mylonite zones between 105.5-107.2m, 108.1-109.0m and again
between 117.5-118.9m. The paleoweathering red/green zone extends to
a depth of 134 metres with the hematite alteration then becoming
replaced by chloritization. No significant radioactivity was
encountered and the EM conductor was not explained before this hole
was completed at a depth of 317 metres.
Jed Lake
Hole HK14-16 was drilled on Jed Lake at a dip of -90 degrees to
test the location where four, tightly spaced EM conductors were
outlined by a stepwise moving-loop survey. The drill hole was cased
through overburden to 77.0m then encountered Athabasca sandstone
with strong bleaching, patchy brick-red hematitic alteration and
desilicification to a depth of 200 metres. Very little core
recovery occurred between the depths of 173 and 200 metres.
Quartz-rich semi-pelitic gneiss with moderate clay alteration was
encountered to 264.4 metres then prominent hematite alteration to
276.9 metres. Two fault zones with pasty gouge and finely crushed
core were intersected; the first fault displayed strong hematite
and limonite alteration between 219.7 and 222.0 metres while the
second fault displayed strong limonite and moderate clay alteration
from 234.0 and 236.0 metres. Strongly sheared Pyritic graphitic
pelitic gneiss with weak alteration was encountered between 276.9
and 300.2 metres and hosted a 0.6 metre interval of fault gouge.
Quartz rich semi-pelitic gneiss with strong chloritic alteration
with patchy hematitic alteration was then encountered to the
completion depth of 440.2 metres. No significant radioactivity was
encountered by the hole.
Core samples are submitted to the Saskatchewan Research Council
(SRC) Geoanalytical Laboratories in Saskatoon. The SRC facility is
ISO/IEC 17025:2005 accredited by the Standards Council of Canada
(scope of accreditation #537). The samples are analyzed using
partial and total digestion inductively coupled plasma methods, for
boron by Na2O2 fusion, and for uranium by fluorimetry.
The down hole radiometric logging was accomplished using a
2PGA-1000 Total Gamma Count Probe and a MGX II Logger. The gamma
probe has been calibrated against a set of known standards in test
pits located at the Saskatchewan Research Council's facilities in
Saskatoon. Results from the downhole total gamma surveys were used
to calculate the %eU3O8 for radioactive intervals. All drill
intercepts are core width and true thickness is yet to be
determined.
Hook Lake Project
The Hook Lake project is owned by Cameco Corp. (39.5%), AREVA
Resources Canada Inc. (39.5%) and Purepoint Uranium Group Inc.
(21%) with Purepoint being the project operator since 2007. It
consists of nine claims totaling 28,683 hectares and is situated in
the southwestern Athabasca Basin only 5 kilometres northeast of the
new high-grade PLS uranium discovery by the Fission/Alpha joint
venture. The depth to the Athabasca unconformity is very shallow,
ranging from zero to 350 metres. Three prospective structural
"corridors" have been defined on the property, each corridor being
comprised of multiple EM conductors that have been confirmed to be
the results of graphitic metasediments that intersect the Athabasca
unconformity.
The Patterson Lake Corridor is the same conductive trend along
which Fission Uranium Corp. continues to intersect high-grade
uranium mineralization, most notably the intercept of 5.98% U3O8
over 102.5 metres in drill hole PLS14-187 (Fission Uranium Corp.
press release of April 22, 2014). Within the Hook Lake project, the
Patterson Lake Corridor displays geophysical evidence of a complex
structural history and, where drill tested, has shown favourable
signs of alteration and structural disruption.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision
exploration of its ten projects in the Canadian Athabasca Basin.
Purepoint proudly maintains project ventures in the Basin with
three of the largest uranium producers in the world, Cameco
Corporation, AREVA Resources Canada Inc. 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.
Purepoint Uranium Group Inc.Chris FrostadPresident and CEO(416)
603-8368www.purepoint.ca
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