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Purepoint Uranium Discovers New Lightning Zone Grading 0.29% U3O8 over 0.9 Metres as It Completes 2024 Winter Drill Program at Hook Lake Joint Venture
Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OT...
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"Purepoint Uranium Discovers New Lightning Zone Grading 0.29% U3O8 over 0.9 Metres as It Completes 2024 Winter Drill Program at Hook Lake Joint VentureToronto, Ontario--(Newsfile Corp. - April 4, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (\"Purepoint\" or the \"Company\") announced today the completion of its winter drill program at the Hook Lake Joint Venture at the Carter Corridor. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%) and lies on trend with high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.\"This year's drill program ended with a discovery of 0.9 metres of 0.29% U3O8, including 0.3 metres of 0.68% U3O8, associated with a major structure intersected by hole CRT24-10,\" said Scott Frostad, Vice President Exploration at Purepoint. \"Encouragingly, the basement hosted uranium mineralization is within an altered breccia matrix that borders a 10 metre wide graphitic shear. All the 2024 holes intersected anomalous radioactivity and the results continue to show the extensive 20-kilometre conductive structural zone known as the Carter Corridor remains highly prospective for an economic uranium discovery.\"HighlightsCRT24-10, the most northern drilled hole of the program (Figure 1), intersected a 13 metre wide zone of altered brecciation and shearing that returned 0.29% U3O8 over 0.9 metres (at a true vertical depth of 375 metres), including 0.68% U3O8 over 0.3 metre. CRT24-08A, a 200 metre step out from CRT23-05 towards the northeast, encountered a 28 metre wide graphitic shear zone with clay alteration and local brecciation between 330 and 358 metres. Mineralization was intersected within a breccia zone that returned peak radioactivity of 7,370 cps and averaged 2,760 cps over 1.4 metres. All the 2024 drill holes were collared northeast of CRT23-05 that intersected 0.08% U3O8 over 0.4 metres within a 15 metre wide graphitic shear zone with local brecciation and intense clay alteration. All 2024 drill holes encountered elevated radioactivity (Table 1). With the exception of the expediated CRT24-10 analyses, all assays are still pending.The 2024 diamond drill program was completed in four holes and one lost hole for a total of 2,332 metres to test the newly identified Lightning Z...