Purepoint Continues to Stake New Property in Athabasca Basin
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 09/29/11 -- Purepoint Uranium Group Inc. (TSX VENTURE: PTU) reported today that it recently staked a 1,985 hectare property lying due east of Cameco's McArthur River Mine and due south of the Cigar Lake Mine in Canada's Athabasca Basin.
"Over the past several years we have been actively evaluating the more than five million hectares (1,200 claims) that have come open in northern Saskatchewan and watching for exceptional opportunities such as this" said Scott Frostad, Vice President Exploration of Purepoint. "While many of the exploration companies have been moving on to other commodities, we have been taking advantage of the vast amount of uranium exploration data submitted to the Saskatchewan government between 2003 and 2008 in order to acquire promising new properties".
McArthur East
Purepoint's newly staked McArthur East property adjoins Cameco's McArthur River Project, which contains the world's largest high-grade uranium deposit, and is situated due south of the Cigar Lake Mine. The property is underlain by a magnetic low believed to represent pelitic basement rocks, a typical host rock for economic uranium mineralization. Depth to the unconformity is estimated at a relatively shallow 200 metres.
A structural interpretation, based on regional aeromagnetic signatures, indicates the property is bounded by two strong north-south trending faults while a detailed aeromagnetic survey suggests the property has a high degree of structural complexity. Areas interpreted to be underlain by crosscutting structures will be targeted as they are ideally suited to host a typical Athabasca Basin unconformity uranium deposit.
Staking at Purepoint
As uranium entered a down cycle in 2008, Purepoint set out to capitalize on project opportunities that would undoubtedly arise utilizing a number of strategies:
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of its eleven projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with the three largest uranium producers in the world, Cameco Corporation, AREVA and Rio Tinto. 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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Purepoint Uranium Group Inc.
Chris Frostad
President and CEO
(416) 603-8368
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Datum: 29.09.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 70894
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TORONTO, ONTARIO
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Mining & Metals
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