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Purepoint Uranium Updates Results for Winter Drill Program at Hook Lake Joint Venture
Toronto, Ontario--(Newsfile Corp. - May 8, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQ...
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"Purepoint Uranium Updates Results for Winter Drill Program at Hook Lake Joint VentureToronto, Ontario--(Newsfile Corp. - May 8, 2023) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (\"Purepoint\" or the \"Company\") announced today the results 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.\"Our latest exploration drill hole on the Carter Corridor, CRT23-05, has uncovered a significant 35-metre-wide boron halo surrounding a 0.08% U3O8 uranium intercept over 0.4 metres,\" said Scott Frostad, VP Exploration at Purepoint. \"This discovery of boron associated with uranium in the Carter Corridor is particularly exciting, as boron is a key pathfinder element for uranium deposits. Our neighboring basement-hosted Spitfire uranium discovery also displayed significant boron enrichment that was recognized during its discovery phase.\"HighlightsDiamond drill hole CRT23-05 returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a 15 metre graphitic shear zone (318 to 333m) below the unconformity (283m); In addition, the CRT23-05 mineralization was found to be surrounded by a significant boron halo returning greater than 800 ppm B over 35 metres (305-340m);Results were presented to the Joint Venture partners on Monday, May 1, 2023 and plans for follow up drilling are now being developed.Boron - a tracer element for uranium mineralizationThe discovery of uranium deposits in the Athabasca Basin using boron as a pathfinder was first made at the Key Lake deposit in the late 1970s by a joint venture between Uranerz Exploration and Mining, Saskatchewan Mining Development Corporation, and Eldorado Nuclear, and is one of the largest and highest-grade uranium deposits in the world. Boron enrichment is prominent in the sandstone column above the McArthur River uranium deposit, which is the world's largest high-grade uranium deposit.The Millennium deposit, a basement hosted deposit, was discovered in 2000 by Cameco Corporation and partners, that was aided by using boron geochemistry as a vectoring tool. The recognition of the extent of...