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Purepoint Uranium Reports on First Seven Holes at Hook Lake, Extending Spitfire Strike Length by 25%
TORONTO, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX.V:PTU) today reported the completion of the first se
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"TORONTO, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Purepoint Uranium Group Inc. (the “Company” or “Purepoint”) (TSX.V:PTU) today reported the completion of the first seven holes of the 2017/2018 Winter drill program at the Hook Lake JV, a project owned jointly by Cameco Corp. (39.5%), AREVA Resources Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%). The Hook Lake project lies on the South West edge of Saskatchewan’s Athabasca Basin, on trend with recent high-grade uranium discoveries including Fission Uranium’s Triple R deposit and NexGen’s Arrow deposit. “Three holes drilled at Spitfire, stepping out towards the northeast, have all hit mineralization extending our strike length by approximately 85 metres with HK18-82 returning 1.04% eU3O8 over 14.6 metres including 8.7% eU3O8 over 1.3 metres,” said Scott Frostad, Vice President Exploration at Purepoint. “Equally significant was our most recent hole at the Dragon Zone where we intersected a new graphitic shear associated with intense hydrothermal alteration. We have a lot of planned drilling ahead of us this winter to advance both these findings”. Highlights: Three holes at Spitfire have extended mineralization northeast by approximately 85 metres beyond HK16-55 (which intersected 9.5 metres at 2.9% U3O8); HK17-79, a 45-metre step-out NE from HK16-55, returned 0.61% eU3O8 over 5.5 metres from 273.5 to 279.0 metres; HK17-80, an 85-metre step-out NE from HK16-55, returned 0.62% eU3O8 over 8.0 metres from 254.1 to 262.1 metres; HK18-82 targeted a shallower depth than HK17-79 and 80 and returned 1.04% eU3O8 over 14.6 metres from 259.2 to 273.8 metres that included 8.7% eU3O8 over 1.3 metres; Two holes were drilled proximal to NexGen Energy Ltd.’s Harpoon discovery with HK17-76 returning 0.47% eU3O8 over 3.3 metres and HK17-77 failing to return significant mineralization; Dragon Zone drill hole HK17-81 encountered over 100 metres of intense silicification and clay alteration prior to intersecting a previously untested graphitic shear; current drilling is following the new graphitic shear and associated alteration; A total of 2,392 metres of drilling was completed with 5 holes during November and December of 2017 and drilling re-commenced January 9th with an additional 9,000 metres of diamond drilling planned over approximately 16 holes. Spitfire/Harpoon Discovery ...