Purepoint Uranium resumes work at Smart Lake
June 25, 2019
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Purepoint Uranium Group Inc. announced that it is “preparing to commence an initial program” at the Smart Lake JV, a project owned jointly by Cameco Corp. and Purepoint Uranium Group Inc., in Saskatchewan.
The Smart Lake property is situated in the southwestern portion of the Athabasca Basin, approximately 18 kilometres west-northwest of the Patterson Uranium District and 60 km. south of the former Cluff Lake mine.
“Immediately following our initial successful drill program at Smart Lake, our attention was redirected by the discoveries occurring at Hook Lake and the Patterson Lake corridor,” said Scott Frostad, Purepoint’s VP exploration. “With a new understanding of the western Athabasca geological setting acquired from our advanced work at Hook Lake, we believe that it is time to revisit our findings at Smart Lake.”
- A team of both Cameco and Purepoint staff have mobilized to the Smart Lake camp where they will undertake to re-examine and re-log the core from the original drill campaigns;
- Earlier work performed by Purepoint includes a ground electromagnetic survey, a soil geochemical survey and 2,539 metres of diamond drilling in ten diamond holes;
- Initial drilling has intersected basement-hosted uranium mineralization associated with a hydrothermally altered, graphitic shear zone that includes 13.3 metres of 127 ppm U only 200 metres from surface;
- The results of all work performed to date is outlined in a National Instruments 43-101 compliant technical report available on Purepoint’s web site at: https://purepoint.ca/projects/smart-lake/; and
- Following the re-examination of the drill core, an exploration program for Smart Lake will be prepared for presentation to the joint venture partners.
“Our investors are anxious to see us expand our exploration efforts across our broad uranium portfolio,” said Chris Frostad, president and CEO at Purepoint. “We are reviewing the priorities of our entire project set with an eye to begin a more aggressive stage of advancement.”