Purepoint Uranium Commences Initial Drill Program Along Groomes Lake Conductive Corridor, Smart Lake JV Project
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF) has initiated its first-pass drill program at the Smart Lake Joint Venture project in Saskatchewan's Athabasca Basin. The program includes 4 diamond drill holes totaling 1,400 metres, targeting the Groomes Lake Conductive Corridor.
The project, a joint venture between Cameco (73%) and Purepoint (27%), is located 60 km south of the former Cluff Lake uranium mine. The 2024 ground electromagnetic survey identified three discrete, parallel EM conductors extending over 2.2 kilometers, positioned approximately 100 metres apart within a magnetic low response.
Previous drilling at Smart Lake showed promising results, with drill hole SMT08-05 returning 147 ppm U over 15.4 metres from a hematite breccia and faulted sheared zone. The conductors continue westward onto NexGen's neighbouring SW1 Project for an additional 2 kilometres, presenting potential for an 'Arrow'-style discovery.
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF) ha avviato il suo primo programma di perforazione presso il progetto Smart Lake Joint Venture nella regione di Athabasca, in Saskatchewan. Il programma prevede 4 fori di perforazione a diamante per un totale di 1.400 metri, con l'obiettivo di esplorare il Corridoio Conduttivo di Groomes Lake.
Il progetto, una joint venture tra Cameco (73%) e Purepoint (27%), si trova a 60 km a sud del precedente giacimento di uranio Cluff Lake. Il sondaggio elettromagnetico del terreno del 2024 ha identificato tre conduttori EM paralleli e distinti che si estendono per oltre 2,2 chilometri, posizionati a circa 100 metri di distanza l'uno dall'altro all'interno di una risposta magnetica bassa.
Le precedenti perforazioni a Smart Lake hanno mostrato risultati promettenti, con il foro di perforazione SMT08-05 che ha restituito 147 ppm di U su 15,4 metri da una breccia di ematite e una zona fratturata. I conduttori continuano verso ovest nel progetto SW1 di NexGen per ulteriori 2 chilometri, presentando potenziale per una scoperta in stile 'Arrow'.
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF) ha iniciado su primer programa de perforación en el proyecto Smart Lake Joint Venture en la cuenca de Athabasca, Saskatchewan. El programa incluye 4 perforaciones de diamante que totalizan 1,400 metros, con el objetivo de explorar el Corredor Conductivo de Groomes Lake.
El proyecto, una empresa conjunta entre Cameco (73%) y Purepoint (27%), se encuentra a 60 km al sur de la antigua mina de uranio Cluff Lake. La encuesta electromagnética del terreno de 2024 identificó tres conductores EM paralelos y discretos que se extienden por más de 2.2 kilómetros, posicionados a aproximadamente 100 metros de distancia entre sí dentro de una respuesta magnética baja.
Las perforaciones anteriores en Smart Lake mostraron resultados prometedores, con el pozo de perforación SMT08-05 que devolvió 147 ppm de U sobre 15.4 metros de una brecha de hematita y una zona fallada. Los conductores continúan hacia el oeste en el proyecto SW1 de NexGen por otros 2 kilómetros, presentando potencial para un descubrimiento estilo 'Arrow'.
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF)는 사스카치완의 아타바스카 분지에 있는 스마트 레이크 조인트 벤처 프로젝트에서 첫 번째 드릴 프로그램을 시작했습니다. 이 프로그램은 4개의 다이아몬드 드릴 홀로 총 1,400미터를 목표로 하며, 그룸스 레이크 전도 회랑을 겨냥하고 있습니다.
이 프로젝트는 Cameco (73%)와 Purepoint (27%) 간의 공동 투자로, 이전 클러프 레이크 우라늄 광산에서 남쪽으로 60km 떨어진 곳에 위치하고 있습니다. 2024년 지상 전자기 조사에서는 약 100미터 간격으로 배치된 2.2킬로미터에 걸쳐 세 개의 개별적인 평행 EM 전도체를 확인했습니다.
스마트 레이크에서의 이전 드릴링은 유망한 결과를 보여주었으며, 드릴 홀 SMT08-05는 15.4미터에서 147 ppm U를 반환했습니다. 전도체는 넥스젠의 인접한 SW1 프로젝트로 서쪽으로 추가 2킬로미터 계속되며, '애로우' 스타일의 발견 가능성을 제시합니다.
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF) a lancé son premier programme de forage au projet Smart Lake Joint Venture dans le bassin d'Athabasca en Saskatchewan. Le programme comprend 4 trous de forage diamantés totalisant 1 400 mètres, visant le Corridor Conducteur de Groomes Lake.
Le projet, une coentreprise entre Cameco (73%) et Purepoint (27%), est situé à 60 km au sud de l'ancienne mine d'uranium de Cluff Lake. L'enquête électromagnétique au sol de 2024 a identifié trois conducteurs EM discrets et parallèles s'étendant sur plus de 2,2 kilomètres, positionnés à environ 100 mètres l'un de l'autre dans une réponse magnétique faible.
Les forages précédents à Smart Lake ont montré des résultats prometteurs, le trou de forage SMT08-05 ayant renvoyé 147 ppm U sur 15,4 mètres d'une brèche d'hématite et d'une zone de faille. Les conducteurs continuent vers l'ouest dans le projet SW1 voisin de NexGen sur 2 kilomètres supplémentaires, présentant un potentiel pour une découverte de type 'Arrow'.
Purepoint Uranium Group (TSXV: PTU, OTCQB: PTUUF) hat sein erstes Bohrprogramm im Smart Lake Joint Venture Projekt im Athabasca-Becken in Saskatchewan gestartet. Das Programm umfasst 4 Diamantbohrlöcher mit insgesamt 1.400 Metern, die auf den Groomes Lake Leitungs-Korridor abzielen.
Das Projekt, ein Joint Venture zwischen Cameco (73%) und Purepoint (27%), liegt 60 km südlich des ehemaligen Cluff Lake Uranbergwerks. Die elektromagnetische Bodenuntersuchung von 2024 identifizierte drei separate, parallele EM-Leiter, die sich über 2,2 Kilometer erstrecken und etwa 100 Meter voneinander entfernt in einem magnetischen Niedrigbereich positioniert sind.
Frühere Bohrungen bei Smart Lake zeigten vielversprechende Ergebnisse, wobei das Bohrloch SMT08-05 147 ppm U über 15,4 Meter aus einer Hämatit-Brekzie und einer gestörten Scherzone zurückgab. Die Leiter setzen sich westwärts in das benachbarte SW1-Projekt von NexGen über weitere 2 Kilometer fort, was Potenzial für eine Entdeckung im 'Arrow'-Stil bietet.
- Strategic partnership with major uranium producer Cameco (73% ownership)
- Previous drilling confirmed presence of uranium mineralization (147 ppm U over 15.4m)
- Three newly identified EM conductors extend over 2.2km with additional 2km westward continuation
- Historic drill hole SAM-13 failed to reach intended target depth
- Purepoint holds minority stake (27%) in the project
Toronto, Ontario--(Newsfile Corp. - March 17, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") is pleased to announce the commencement of a first-pass drill program along the high-priority Groomes Lake Conductive Corridor at the Smart Lake Joint Venture (JV) project in Saskatchewan's Athabasca Basin. The program will include four drill holes, totalling approximately 1,400 metres, to test the conductive belt of rocks refined by the 2024 ground electromagnetic (EM) survey.
The Smart Lake Project is a joint venture between Cameco Corporation (
"We are excited to launch this next phase of exploration at Smart Lake," said Chris Frostad, President & CEO of Purepoint Uranium. "While Smart Lake has seen previous drilling, this is the first time we are targeting our high-priority Groomes Lake conductors that were refined by the recent ground EM survey. Given the project's geological similarities to other major uranium deposits in the Athabasca Basin, we believe this program has the potential to advance Smart Lake's exploration story significantly."
Highlights
- Targeting recently refined high priority Groomes Lake Conductive Corridor (Figure 1)
- 4 diamond drill holes planned, totaling 1,400 metres
- Strong exploration partnership with Cameco enhances project development
- Building on historical drilling success that confirmed basement-hosted uranium mineralization
Advancing a High-Potential Uranium Target
The Groomes Lake Conductive Corridor will be targeted by the 2025 drill program and builds on Purepoint's late-2024 stepwise-moving loop and fixed loop time domain electromagnetic (EM) survey conducted by Diaz Geophysical. The survey outlined three discrete, parallel EM conductors for over 2.2 kilometers (Figure 1). The three EM conductors are approximately 100 metres apart, lie within a magnetic low response and are conformable with interpreted geologic contacts. Airborne geophysics show the conductors continue westward onto NexGen's neighbouring SW1 Project for an additional 2 kilometres.
The historic vertical hole SAM-13 failed to explain the conductor source and is now assumed to have stopped approximately 45 metres short of the intended target. Inversion of the Groomes Lake conductivity results suggest the conductors continue to depth and present an excellent opportunity for a basement hosted 'Arrow'-style discovery.
Previous drilling at Smart Lake intersected anomalous uranium within faulted and altered basement rocks, with drill hole SMT08-05 returning 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and faulted sheared zone. The current drill program will test conductors in a structurally complex setting that has demonstrated the potential to host significant uranium mineralization.
Strategic Positioning in the Athabasca Basin
Purepoint continues to advance a highly prospective project portfolio in the Athabasca Basin, leveraging its strong partnerships with Cameco and other industry leaders. With uranium prices strengthening and the global supply-demand gap widening, the Company remains committed to unlocking new uranium discoveries through systematic, high-quality exploration.
Figure 1: Groomes Lake Conductive Corridor - 2024 Stepwise-Moving Loop (SWML) and Fixed Loop (FL) Time Domain Electromagnetic survey results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_002full.jpg
Figure 2: Smart Lake Project Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3218/244614_23e24f3cd4fb7958_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 Mining Corporation's McIlvenna 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/244614
FAQ
What is the scope of Purepoint Uranium's (PTUUF) 2025 Smart Lake drill program?
What were the findings from Purepoint's (PTUUF) 2024 electromagnetic survey at Smart Lake?
What are the ownership stakes in the Smart Lake Joint Venture for PTUUF?
What were the previous drilling results at Smart Lake for PTUUF?
