Business
Purepoint Uranium Releases Airborne Gravity Survey Results for Denare West Project, Hanson Lake Area, Eastern Saskatchewan
Toronto, Ontario--(Newsfile Corp. - May 24, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTC...
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"Purepoint Uranium Releases Airborne Gravity Survey Results for Denare West Project, Hanson Lake Area, Eastern SaskatchewanToronto, Ontario--(Newsfile Corp. - May 24, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (\"Purepoint\" or the \"Company\") today provided results from an airborne gravity survey across its 100% owned Denare West Volcanogenic Massive Sulphide (VMS) project located approximately 9 kilometres southeast of Foran Mining Corp's McIlvenna Bay Cu-Zn-Au deposit in the Hanson Lake area of eastern Saskatchewan, the largest undeveloped VMS deposit along the prolific Flin Flon Greenstone Belt.The Denare West Project area was identified by Purepoint in 2018 as a highly prospective and valuable base and precious metal exploration opportunity that was on strike with the Hanson Lake and McIlvenna Bay deposits (Figure 1). The Denare West property was subsequently staked and is currently comprised of 10 claims covering an area of 21,066 hectares. To Purepoint's advantage, these dispositions remained in good standing for an extended time, due to COVID-19 relief provided by the Saskatchewan Government, while Foran advanced the McIlvenna Bay project. Purepoint recently carried out an airborne gravity survey in order to determine a potential relationship between the project and the McIlvenna Bay resource . The results of the gravity survey are interpreted as showing a direct geologic association between the McIlvenna Bay VMS deposit and our Denare West project.\"We're extremely pleased the airborne gravity survey at Denare West extended the gravitational response associated with the favourable geologic horizon hosting the Hanson Lake and McIlvenna Bay VMS deposits onto our project,\" said Scott Frostad, Purepoint's VP of Exploration. \"VMS deposits commonly occur in clusters and historic EM surveys at Denare West have shown the presence of numerous EM conductors. We have scheduled a follow-up airborne EM survey for this summer that will utilize the latest technology and provide high-resolution EM results to depths of 1000 metres. We anticipate the new EM results will allow us to properly identify prospective geologic horizons and prioritize targets for ground geophysics and diamond drilling.\"HighlightsThe Denare West project is 100% owned by Purepoint and on trend with the nearby McIlvenna Bay VMS deposit that ...