Purepoint discovers uranium mineralization at Hook Lake in Canada

Date of Article: March 11, 2014

Source: Energy Business Review

Link: nuclearfuels.energy-business-review.com/news/purepoint-discovers-uranium-mineralization-at-hook-lake-project-110314-4193041

Purepoint Uranium Group has reported results from a new zone of uranium mineralization within the Patterson Lake conductive corridor at the Hook Lake project in Saskatchewan’s Athabasca basin, Canada.

Known to be associated with uranium mineralization, the D2 conductor is 2.9km in length and has only been tested by four drill holes along a single section line while hole HK14-09 resulted in a weighted average of 0.32% U3O8 over 6.2m from a strongly chloritized and sheared quartz-rich semi-pelitic gneiss, the company said.

The company has also intersected 13.9m of strongly sheared graphitic pelitic gneiss that returned 0.57% U3O8 over 0.9m and an additional interval of 0.11% U3O8 over 2.0m at hole HK14-11.

Purepoint exploration vice president Scott Frostad said that the D2 electromagnetic conductor is considered a high priority target due to its coincidence with a large magnetic low, possibly indicative of hydrothermal alteration.

"Now that the D2 conductor has been shown to be associated with uranium mineralization, we will increase our drilling efforts towards the northeast where geophysics suggests there is a more structurally complex setting," Frostad added.

To assist with follow-up and expansion, a second drill on the property is being implemented to the newly discovered Spitfire Zone.

The Hook Lake project is a joint venture with AREVA Resources Canada Inc. and Cameco Corporation.