Purepoint Uranium
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  • Purepoint Uranium (PTU) has commenced drilling at the Hook Lake joint venture located on the southwestern edge of Canada’s Athabasca Basin
  • The property lies on trend with high-grade uranium discoveries including Fission Uranium’s Triple R Deposit and NexGen’s Arrow Deposit
  • The Hook Lake JV Project is considered one of the highest-quality uranium exploration projects in the Athabasca Basin
  • Purepoint is a resource company engaging in the acquisition, exploration, and development of properties to produce uranium
  • Purepoint Uranium Group Inc. (PTU) is up 7.69 per cent, trading at C$0.07 per share at 9:56 am ET

Purepoint Uranium (PTU) has commenced drilling at the Hook Lake joint venture located on the southwestern edge of Canada’s Athabasca Basin.

The Hook Lake Project is a joint venture between Cameco Corporation (39.5 per cent), Orano Canada Inc. (39.5 per cent), and Purepoint (21 per cent). The property lies on trend with high-grade uranium discoveries including Fission Uranium’s Triple R Deposit and NexGen’s Arrow Deposit.

Chris Frostad, President and CEO of Purepoint, commented on the news.

“Our drill program will test numerous electromagnetic targets along the Carter Corridor. We are anxious to see how results compare to the neighbouring Patterson Corridor. It will be a busy winter for us with our second drill program starting soon on the Eastern side of the Basin.”

Highlights:

  • Approximately 3,200 metres of diamond drilling across 8 holes to test the Carter Corridor
  • The Carter corridor is a long-lived, reactivated graphitic fault zone. It lies between the Clearwater Domain granitic intrusives to the west and runs parallel to the Patterson structural corridor to the immediate east
  • The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project

The Hook Lake JV Project is considered one of the highest-quality uranium exploration projects in the Athabasca Basin. It is due to its location along the prospective Patterson Lake trend and the relatively shallow depth of the unconformity.

Purepoint is a resource company engaging in the acquisition, exploration, and development of properties to produce uranium. It actively operates an exploration pipeline of 12 advanced projects in Canada’s Athabasca Basin.

Purepoint Uranium Group Inc. (PTU) is up 7.69 per cent, trading at C$0.07 per share at 9:56 am ET.


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