PTU.V (Purepoint Uranium) Hits 12.90% U3O8 Over 0.4 Metres Within 2.23% U3O8 Over 2.8 Metres Near Patterson Lake, SK
TORONTO, ONTARIO--(Marketwired - March 31, 2015) - Purepoint Uranium Group Inc. (TSX VENTURE:PTU) today reported preliminary results from the 2015 Hook Lake JV drill program within the Patterson Lake conductive corridor in Saskatchewan's Athabasca Basin. Results were highlighted by hole HK15-27 that returned 2.8 metres of 2.23% U3O8 including 12.90% U3O8 over 0.4 metres. The Hook Lake project is a joint venture with AREVA Resources Canada Inc. and Cameco Corporation.
The new high-grade uranium intercept by hole HK15-27 is located 240 metres along strike (northeast) and 180 metres down dip of last year's Spitfire Discovery (press release dated March 10, 2014). Uranium mineralization is controlled by a semi-brittle structure that is coincident with the upper contact of a thick, strongly sheared Graphitic-pyritic Pelitic Gneiss unit. Drilling is following up the HK15-27 high-grade mineralized intercept.
"We were led to successively deeper drill targets while using large step-outs to chase an observed increase in alteration and radioactivity," said Scott Frostad, Purepoint's Vice President of Exploration. "Our successful cut of high-grade mineralization came by drilling 85 metres down dip of the structure that returned 0.10% U3O8 over 4.3 metres in hole HK15-25".
