Purepoint Uranium Group Expands Spitfire Zone With New High Grade Intercepts

March 16, 2016

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Purepoint Uranium Group (TSXV:PTU.V) reported results from a further four holes drilled at the Spitfire Zone of its Hook Lake joint venture. Drilling has confirmed continuous uranium mineralization for at least 200 meters down-dip of a graphitic shear zone beginning just below the unconformity.

As quoted in the press release:

High-grade uranium mineralization is consistently seen in association with brittle structures crosscutting the shear zone. Purepoint is the operator of the Hook Lake project on behalf of its Joint Venture partners Cameco Corp. and AREVA Resources Canada Inc.

Highlights:

  • Uranium mineralization is primarily associated with the upper contact of a graphitic/pyritic shear zone and a halo of moderate to intense clay alteration.
  • High grade mineralization is associated with brecciation that occurs sub-parallel to but cross-cuts the graphitic shear zone.
  • Highlights of the downhole gamma probe results are HK16-47 with 19.6 metres of 0.82% eU3O8 that includes 7.2 metres of 1.3% eU3O8 and HK16-52 with 18.5 metres of 0.68% eU3O8 that includes 4.3 metres of 2.6% eU3O8.
  • The targeted graphitic shear zone remains open both along strike and to depth.
  • Drilling is ongoing and is currently targeting the projected intersection of known brittle structures and the graphitic shear zone.

Purepoint VP of Exploration, Scott Frostad, said:

We are particularly encouraged by the thickness of mineralization where it is associated with cross-cutting structures. HK-16-47 is mineralized for over 30 metres within a 40 metre interval while HK-16-52 came back with over 18 metres of mineralization and both these intercepts are considered close to true width.

The continued expansion of Spitfire is helping us define the potential for yet another regional deposit. We are very excited at the prospect of what the remainder of this season may deliver.

Click here for the full press release.

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Category: Energy