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Purepoint Uranium Group Inc
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Purepoint survey finds drill targets at Umfreville

2017-07-20 07:45 ET - News Release

Mr. Chris Frostad reports

PUREPOINT URANIUM OUTLINES DRILL TARGETS AT UMFREVILLE PROJECT WITH RECENT GROUND GRAVITY SURVEY

Purepoint Uranium Group Inc. has released the results of a ground gravity survey conducted at its 100-per-cent-owned Umfreville project in the northeastern area of Canada's Athabasca basin in Northern Saskatchewan.

"We believe that newly identified gravity lows represent areas of hydrothermal alteration that are associated with previously interpreted faulting and a strong uranium-in-soil anomaly," said Scott Frostad, vice-president, exploration, Purepoint Uranium Group. "This survey has now provided well-defined, high-priority targets at Umfreville that are ready for drilling."

Highlights:

  • Ground gravity results from the Perching zone show a pronounced gravity low response that is considered to represent hydrothermal alteration.
  • The low gravity response coincides with a multielement soil geochemical anomaly that includes uranium, nickel, molybdenum and vanadium values, the strongest geochemical anomaly returned during a 2011 survey.
  • The Perching zone is now considered a high-priority drill-ready uranium exploration target with clearly defined structures, geophysical signatures representative of hydrothermal alteration and favourable soil geochemistry results.
  • The location of the Perching target area is supported by a historic uranium geochemical anomaly outlined by the Saskatchewan Department of Mineral Resources in 1976.

A pronounced gravity low area was outlined by the recent ground survey within the centre of the Perching zone grid and a linear north-south-trending gravity low is present in the northeastern part of the grid. The main part of the gravity low anomaly is considered to be a response from hydrothermal alteration of the bedrock. Inversion of airborne electromagnetic survey results suggests the depth to the unconformity is approximately 150 metres. An electromagnetic conductor (Condor Consulting, 2006) lies along the north edge of the gravity anomaly and is interpreted as a graphitic horizon with strong alteration on its southern edge. The linear north-south gravity low is assumed to be an expression of the Fond du Lac fault that has been previously identified from magnetic survey results.

The 2017 ground gravity survey results are provided as a Bouguer gravity map (milligals) on the Purepoint website.

Umfreville project

Originally covering over 60,000 hectares, the Umfreville project has been refined to the most prospective target areas using results from airborne gravity, magnetic and electromagnetic surveys. The project sits on the northeast rim of the Athabasca basin and lies over a complex series of crosscutting faults which are typical mineralization settings. Geophysical signatures interpreted as being representative of hydrothermal alteration coincident with anomalous uranium-in-soil geochemistry have been isolated. The Umfreville property covers approximately 4,383 hectares and consists of two mineral claims.

Not yet drill tested, the property has undergone a broad array of geophysical and geochemical surveys to delineate high-value exploration targets. Initial work in 2005 consisted of a MegaTEM electromagnetic and magnetic survey flown by Fugro Airborne Surveys and the data then processed using a layered-earth inversion program by Condor Consulting. In 2007, Bell Geospace conducted an airborne full tensor gravity gradiometry survey over the property which supported fault systems previously interpreted from magnetic features. During 2010, Terraquest Ltd. flew a high-resolution aeromagnetic gradient and XDS VLF-EM (very low frequency electromagnetic) survey over the property providing higher detailed fault and lithologic contact interpretations. Utilizing CAMIRO techniques (a three-year research study utilizing field samples collected from the areas overlying the McClean Lake, Cigar Lake West and Dawn Lake uranium deposits in Saskatchewan's Athabasca basin), a systematic geochemical survey was conducted across the property during 2011 with the best geochemical response being returned from the Perching zone. Infill geochemical sampling was conducted over the Perching zone during 2012 and 2014.

About Purepoint Uranium Group Inc.

Purepoint Uranium Group is focused on the precision exploration of its seven projects in the Canadian Athabasca basin. Purepoint proudly maintains project ventures in the basin with two of the largest uranium producers in the world, Cameco Corp. and Areva Resources Canada Inc. Established in the Athabasca basin well before the initial resurgence in uranium earlier last decade, Purepoint is actively advancing a large portfolio of multiple drill targets in the world's richest uranium region.

Scott Frostad, BSc, MASc, PGeo, Purepoint's vice-president, exploration, is the qualified person responsible for technical content of this release.

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