Purepoint Uranium Completes Drill Program, Plans For Additional Exploration
Purepoint Uranium Group (TSXV: PTU) this morning announced that it has completed the winter drill program at its Hook Lake project, with demobilization now underway at the project. Following this, and in conjunction with current sentiment for uranium-related firms, the company also announce that it will recommence exploration at other properties currently held by the firm.
The Hook project, which is owned partially by Cameco (39.5%), Orana Canada (39.5%), and Purepoint, was subjected to a 3,250 metre drill program that was focused on testing geophysical targets identified in the Sabra Target area during an electromagnetic survey conducted last year. The final drill hole here has now been completed, with results expected to be released pending assays and the review of the results by the co-owners of the property in early May.
With the Hook program wrapping up, the company this morning announced that it will begin planning the next phase of work for its portfolio of properties located in the Eastern Athabascan region, which is known for its uranium content. The firm currently has approximately 175,000 hectares of claims across 12 projects in the region. Three projects, namely Red Willow, Henday Lake and Umfreville, have now received permits for their drill programs with further details not yet released.
An exploration schedule is expected to be released upon finalization of plans and budgets for the summer program.
Purepoint Uranium last traded at $0.10 on the TSX Venture.
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