Purepoint Refines High-Priority Targets and Prepares for Drilling at Smart Lake JV Project
Purepoint Uranium Group has announced refined high-priority drill targets at the Smart Lake Joint Venture project, where drilling is scheduled to begin in mid-March. The project is a joint venture between Cameco (73%) and Purepoint (27%) in Saskatchewan's Southwest Athabasca Basin.
Recent electromagnetic surveys conducted in late 2024 covered 31.5 line-kilometres across 19 loops, identifying three discrete parallel EM conductors approximately 100 metres apart extending over 2.2 kilometers. These represent highly prospective drill targets.
The 2025 drill program follows up on previous results from 2008, where drill hole SMT08-05 returned 147 ppm U over 15.4 metres from a hematite breccia and sheared fault zone. The upcoming program will focus on the northern Groomes Lake area, where geophysical data has defined multiple conductors in a structurally complex setting.
Purepoint Uranium Group ha annunciato obiettivi di perforazione ad alta priorità rifiniti nel progetto Smart Lake Joint Venture, dove la perforazione è programmata per iniziare a metà marzo. Il progetto è una joint venture tra Cameco (73%) e Purepoint (27%) nella Southwest Athabasca Basin del Saskatchewan.
Sono stati condotti recenti sondaggi elettromagnetici alla fine del 2024 che hanno coperto 31,5 chilometri lineari su 19 loop, identificando tre conduttori EM paralleli discreti a circa 100 metri di distanza che si estendono per 2,2 chilometri. Questi rappresentano obiettivi di perforazione altamente promettenti.
Il programma di perforazione del 2025 segue i risultati precedenti del 2008, dove il foro di perforazione SMT08-05 ha restituito 147 ppm U su 15,4 metri da una breccia di ematite e una zona di faglia fratturata. Il programma imminente si concentrerà sull'area settentrionale di Groomes Lake, dove i dati geofisici hanno definito più conduttori in un contesto strutturalmente complesso.
Purepoint Uranium Group ha anunciado objetivos de perforación refinados de alta prioridad en el proyecto Smart Lake Joint Venture, donde se prevé que la perforación comience a mediados de marzo. El proyecto es una joint venture entre Cameco (73%) y Purepoint (27%) en la Cuenca Athabasca del suroeste de Saskatchewan.
Recientes encuestas electromagnéticas realizadas a finales de 2024 cubrieron 31.5 kilómetros lineales a través de 19 lazos, identificando tres conductores EM paralelos discretos a aproximadamente 100 metros de distancia que se extienden por 2.2 kilómetros. Estos representan objetivos de perforación altamente prospectivos.
El programa de perforación de 2025 sigue los resultados anteriores de 2008, donde el agujero de perforación SMT08-05 devolvió 147 ppm U sobre 15.4 metros de una brecha de hematita y una zona de falla desgastada. El programa próximo se centrará en el área norte de Groomes Lake, donde los datos geofísicos han definido múltiples conductores en un entorno estructuralmente complejo.
Purepoint Uranium Group는 Smart Lake Joint Venture 프로젝트에서 고우선 순위의 정제된 시추 목표를 발표했으며, 시추는 3월 중순에 시작될 예정입니다. 이 프로젝트는 Cameco(73%)와 Purepoint(27%)의 합작 투자로, 사스카치완 주의 남서부 아사바스카 분지에 위치하고 있습니다.
2024년 말에 실시된 최근의 전자기 조사에서는 19개의 루프에 걸쳐 31.5킬로미터의 선형 거리에서 세 개의 이산적인 평행 EM 전도체를 발견했으며, 이들은 약 100미터 간격으로 2.2킬로미터에 걸쳐 연장됩니다. 이는 매우 유망한 시추 목표를 나타냅니다.
2025년 시추 프로그램은 2008년의 이전 결과를 바탕으로 하며, 시추 구멍 SMT08-05에서는 15.4미터에서 147ppm U가 반환되었습니다. 예정된 프로그램은 구조적으로 복잡한 설정에서 여러 전도체가 정의된 Groomes Lake의 북부 지역에 초점을 맞출 것입니다.
Purepoint Uranium Group a annoncé des cibles de forage raffinées et prioritaires au projet Smart Lake Joint Venture, où le forage devrait commencer à la mi-mars. Ce projet est une coentreprise entre Cameco (73 %) et Purepoint (27 %) dans le bassin d'Athabasca du sud-ouest de la Saskatchewan.
Des enquêtes électromagnétiques récentes menées fin 2024 ont couvert 31,5 kilomètres linéaires à travers 19 boucles, identifiant trois conducteurs EM parallèles discrets à environ 100 mètres d'écart s'étendant sur 2,2 kilomètres. Ceux-ci représentent des cibles de forage très prometteuses.
Le programme de forage 2025 fait suite aux résultats précédents de 2008, où le trou de forage SMT08-05 a retourné 147 ppm U sur 15,4 mètres à partir d'une brèche d'hématite et d'une zone de faille cisaillée. Le programme à venir se concentrera sur la zone nord de Groomes Lake, où les données géophysiques ont défini plusieurs conducteurs dans un environnement structurellement complexe.
Purepoint Uranium Group hat verfeinerte hochpriorisierte Bohrziele im Smart Lake Joint Venture-Projekt angekündigt, wo die Bohrungen voraussichtlich Mitte März beginnen werden. Das Projekt ist ein Joint Venture zwischen Cameco (73%) und Purepoint (27%) im südwestlichen Athabasca-Becken in Saskatchewan.
Neueste elektromagnetische Untersuchungen, die Ende 2024 durchgeführt wurden, deckten 31,5 Linienkilometer über 19 Schleifen ab und identifizierten drei diskrete parallele EM-Leiter, die etwa 100 Meter voneinander entfernt über 2,2 Kilometer verlaufen. Diese stellen hochgradig aussichtsreiche Bohrziele dar.
Das Bohrprogramm 2025 baut auf den vorherigen Ergebnissen von 2008 auf, bei denen das Bohrloch SMT08-05 147 ppm U über 15,4 Meter aus einer Hämatitbrekzie und einer gescherten Verwerfungszone lieferte. Das kommende Programm wird sich auf den nördlichen Bereich des Groomes Lake konzentrieren, wo geophysikalische Daten mehrere Leiter in einem strukturell komplexen Umfeld definiert haben.
- Identification of three distinct parallel EM conductors extending over 2.2 kilometers
- Previous drilling success with uranium mineralization (147 ppm U over 15.4 metres)
- Partnership with major uranium producer Cameco (73% ownership)
- historical drilling in the target area
- Previous exploration was postponed to focus on other projects
- Minority ownership position (27%) in the joint venture
Toronto, Ontario--(Newsfile Corp. - February 14, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce that recent ground electromagnetic (EM) surveys at the Smart Lake Joint Venture (JV) project have refined high-priority drill targets along the Groomes Lake Conductor with drilling scheduled to begin in mid-March. Smart Lake is a joint venture between Cameco Corporation (
Highlights
- A stepwise-moving loop time domain electromagnetic (SWMLTEM) and fixed loop time domain electromagnetic (FLTEM) survey was conducted during November and December of 2024 to refine targets for the upcoming drill program.
- The survey covered 31.5 line-kilometres across 19 loops using 12 lines spaced 600 metres apart.
- Three discrete parallel EM conductors, approximately 100 metres apart extending over 2.2 kilometers, were outlined, representing highly prospective drill targets (Figure 1).
"The new electromagnetic survey has provided high-resolution targets within an area of Smart Lake that remains largely untested by historical drilling," said Scott Frostad, Vice President of Exploration at Purepoint Uranium. "Given the basement-hosted uranium mineralization we encountered in our initial drill program, we're excited to return and test these newly identified conductors next month."
Revisiting a Proven Uranium Target
The 2025 drill program follows up on encouraging results from Purepoint's initial drill campaign in 2008 where uranium mineralization was intersected in faulted and altered basement rock. Drill hole SMT08-05 returned 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and sheared fault zone.
While exploration at Smart Lake was previously postponed as focus shifted to Hook Lake's s Patterson Corridor the property remains a high-priority target within Purepoint's portfolio. The strong EM conductors, favourable structural setting, and similarities to high-grade uranium deposits in the Athabasca Basin reinforce the project's exploration potential.
2025 Groomes Lake Drill Program
The upcoming Smart Lake drill program will focus on the northern Groomes Lake area where geophysical data has defined multiple conductors in a structurally complex and highly prospective uranium setting. Despite these strong indicators, the conductive package remains largely untested, presenting a significant opportunity for discovery.
A National Instrument 43-101 compliant Technical Report for the Smart Lake project is available on the Company's website. The technical report for Smart Lake filed by the Company in 2012 under the Company's profile at https://www.sedarplus.ca/ and displayed on its website at https://purepoint.ca/projects/smart-lake/ may be relied on for background information but contains a work program not updated to reflect current exploration plans.
Figure 1: Stepwise-Moving Loop Time Domain Electromagnetic (SWMLTEM) and Fixed Loop Time Domain Electromagnetic (FLTEM) survey over the Groomes Lake Conductor
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/240797_c890120814ff19dc_002full.jpg
Figure 2: Smart Lake Project Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/240797_c890120814ff19dc_003full.jpg
About Smart Lake
The Smart Lake Project is located approximately 60 km south of the historic Cluff Lake mine and 18 km west-northwest of the Hook Lake JV Project (Figure 2). The property spans 9,860 hectares within the Athabasca Basin, an area renowned for hosting the world's highest-grade uranium deposits.
Initial exploration at Smart Lake established the presence of graphitic shear zones, hydrothermal alteration, and anomalous radioactivity. The favourable geological indicators, combined with its strategic location and extensive geophysical data, position Smart Lake for uranium exploration success.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvena Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca
For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of the future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240797
FAQ
What are the results of Purepoint's (PTUUF) recent electromagnetic survey at Smart Lake?
When will Purepoint (PTUUF) begin drilling at the Smart Lake project?
What were the historical drilling results at Smart Lake for Purepoint (PTUUF)?
What is the ownership structure of the Smart Lake uranium project?
What area will the 2025 Smart Lake drilling program focus on?
