Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) has defined a continuous corridor of elevated radioactivity associated with the Osprey Zone electromagnetic (EM) conductor in its winter drill programme at the 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin, Saskatchewan, Canada.
“Spanning over a one-kilometre distance, we have been able to consistently target and intersect elevated radioactivity north of our original Osprey Zone discovery,” said Scott Frostad, VP Exploration at Purepoint.
“Moving the drill with large 300 metre step outs, we have determined that the northern portion of the Osprey EM conductor was subject to an area wide mineralisation event resulting in the potential for significant uranium deposition.
“More importantly, our final hole of the season, OSP22-15, encountered numerous structures with hematite alteration and silicification. We were unable to begin a second hole at this location due to spring conditions, but we certainly intend to resume drilling here as soon as practical later this year.”
Highlights
- 12 holes were completed this winter totaling 2,088 metres at the Osprey Zone
- Nine of the twelve holes encountered anomalous radioactivity at a shallow depth from surface across a distance of 1.2 kilometres (0.75 miles)
- The highest levels of radioactivity were seen in holes OSP22-04, OSP22-06, OSP22-12 and OSP22-13 that returned peak radiation levels of 8,830 cps, 33,070 cps, 6,367 cps and 8,002 cps respectively. Assays are pending
- The EM conductor that represents the graphitic unit hosting mineralisation continues for an additional kilometre north of the completed drilling and nearly one kilometre to the southeast
- Purepoint intends to immediately schedule a 2022 follow up drill programme to continue the expansion of this prospective conductor
Red Willow Project
The 100% owned Red Willow property is situated on the northern edge of the eastern Athabasca Basin mine corridor in Northern Saskatchewan, Canada. The property is located in close proximity to several uranium deposits including Orano Resources Canada Inc.’s JEB mine, approximately 10 kilometres to the southwest, and Cameco’s Eagle Point mine that is approximately 10 kilometres due south.
Red Willow consists of 17 mineral claims having a total area of 40,116 hectares. Geophysical surveys conducted by Purepoint have included airborne magnetic and electromagnetic (VTEM) surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic results that are an excellent base on which to interpret structures while the EM results outlined over 70 kilometres of conductors that in most instances represent favourable graphitic lithology.
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