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Purepoint Uranium Acquires Strategic Land Positions in the Athabasca Basin, Saskatchewan
TORONTO, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX.V:PTU) today reported that since October, 2017 it ha
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":" TORONTO, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX.V:PTU) today reported that since October, 2017 it has acquired through staking an additional 52,479 hectares of mineral claims in the Athabasca Basin, Saskatchewan Canada representing a substantial increase in the Company’s 100% owned projects. “We have taken a very precise and strategic approach to our staking - focusing on the enlargement of our existing projects or securing highly prospective areas of defined potential,” said Chris Frostad, President & CEO at Purepoint. “Over the past four months we have successfully added three new projects, enlarged two existing projects and nearly doubled our 100% owned land position”. “Much of our new ground lies on the SW edge of the Athabasca Basin, proximal to our Smart Lake Project. Our initial drilling at Smart Lake identified a radioactive shear that was associated with intense alteration,” said Scott Frostad, Vice President Exploration. “We have now re-interpreted the Smart Lake drill results in light of our knowledge gained from the neighbouring Patterson Uranium District. Based on the similarity in structural and lithologic settings, we see the SW Athabasca Basin region to be highly prospective and look forward to exploring our new ground”. Highlights: Through staking, Purepoint has increased it’s 100% owned portfolio of Athabasca uranium projects from five projects and 57,222 hectares to eight projects totaling 109,701 hectares; The Company’s drill-ready Umfreville and McArthur East projects have been enlarged from 6,369 hectares to a total of 14,203 hectares allowing room to properly follow up on initial drill discoveries; Purepoint’s new Rene Lake (5,437 hectares) and Shearwater (26,244 hectares) projects lie due north and due south respectively of the Company’s Smart Lake project along the Clearwater Domain; A summary of the Company’s portfolio is below and a detailed location map can be found at http://purepoint.ca/uraniumprojects/athabascabasin.php. Current Active Project Portfolio: Minimum annual exploration expenditures are required by the Province of Saskatchewan in order to maintain ownership of property claims. Expenditures in excess of the minimum may be carried forward. The “Held Until” column represent...