Purepoint Uranium Group Inc.
TSX VENTURE : PTU

Purepoint Uranium Group Inc.

June 15, 2010 08:01 ET

Purepoint Uranium Group Inc: Turnor Lake Update

TORONTO, ONTARIO--(Marketwire - June 15, 2010) - Purepoint Uranium Group Inc. (TSX VENTURE:PTU) today released its upcoming exploration plans for the Turnor Lake Project on the north-eastern margin of Canada's Athabasca Basin. The company intends to prioritize its drill targets at Turnor Lake by conducting field work that utilizes the Canadian Mining Industry Research Organization (CAMIRO) methodologies for the direct detection of uranium deposits (see Purepoint press release dated June 1, 2010). A series of detailed geophysical surveys have been conducted on the property since November 2006 and numerous drill targets, including EM conductors and structurally complex areas having evidence of intersecting structures, remain untested.

"Turnor Lake has consistently returned results indicating a widespread uranium mineralizing event" said Scott Frostad, Vice President Exploration, Purepoint Uranium Group Inc. "It is a structurally complex property, and we anticipate that our application of the CAMIRO techniques at Turnor Lake will assist in prioritizing the property's best drill targets."

Turnor Lake Highlights:

  • The Turnor Lake conductors wrap around the Kelsey Dome, the same structural feature associated with neighboring high grade uranium showings (including Cameco's La Rocque Deposit which encountered grades up to 33.9% U3O8 over 5.5 m);
  • The Quetzal Zone is comprised of a complex series of electromagnetic conductors interpreted to represent faulted graphitic rocks of a nature typically associated with uranium deposits in the Athabasca Basin.
  • Holes completed by Purepoint south of the Quetzal Zone have outlined uranium-rich alteration (e.g. TL-03 with 22 metres of clay alteration and 29 metres of 34 parts per million U). By way of comparison, the Athabasca sandstone has a consistent background uranium content of only 0.5 to 2 parts per million; 
  • IP resistivity survey results suggest extensive zones of sandstone alteration underlie the Quetzal Zone, and the detailed magnetic and gravity surveys indicate a high degree of structural complexity in that Zone. The association of these promising indicators (hydrothermal alteration and structural complexity) makes this Zone highly prospective;
  • A seismic survey conducted over the Serin Conductor indicates it is cut by a significant step-fault. Similar faults elsewhere in the Basin have provided structural traps that have localized uranium bearing hydrothermal fluids and resulted in the formation of ore bodies.

Quetzal Zone

The Quetzal Zone is located north of Purepoint's previous drilling and was the subject of one airborne and four types of ground geophysical surveys during 2007. These surveys (electromagnetics, magnetics, IP resistivity and gravity) defined over seven kilometers of EM conductors within a complex structural setting. Areas interpreted to be underlain by graphitic rocks and crosscutting structures have been targeted, as they are ideally suited to host a typical Athabasca Basin unconformity uranium deposit.

Cotinga Lake

EM conductors outlined within the Cotinga Lake area are coincident with sandstone having a low apparent resistivity response that is thought to represent favourable clay alteration. A water sampling program carried out by Asamera Oil Corporation in 1977 found Cotinga Lake to have elevated concentrations of radon.

Serin Conductor

The Serin conductor is interpreted to be the northeastern extension of the conductor which hosts Cameco's La Rocque showing. Results from EM surveys suggest the conductor is offset by approximately 150 metres at the same location that a refraction seismic survey, conducted by Saskatchewan Energy and Mines in 1984, reflects a significant down drop in the basement topography. The MacArthur River Deposit, one of the world's largest uranium mines, was formed at the site of a similar basement step-fault.

The Turnor Lake Project is 100% owned by Purepoint. This 9,705 hectare property covers graphitic electromagnetic (EM) conductors that are associated with uranium showings on adjoining properties, namely Cameco's La Rocque occurrence (up to 33.9% U3O8 over 5.5 m) to the west and Areva's HLH-50 intercept (5.2% U3O8 over 0.38 m) located to the south. The project lies in close proximity to several uranium deposits, including Midwest Lake, McClean Lake and Eagle Point, and has a shallow depth to the unconformity at approximately 180 metres.

About Purepoint

Purepoint Uranium Group Inc. is focused on the precision exploration of more than 55 defined target areas on its eight 100% owned projects in the Canadian Athabasca Basin, and its two Basin projects joint ventured with Cameco Corporation and AREVA Resources Canada Inc. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing this 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.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Purepoint Uranium Group Inc.
    Chris Frostad
    President and CEO
    (416) 603-8368
    www.purepoint.ca