Purepoint Stakes Forsythe Lake Property in Athabasca Basin
January 13, 2011 - Purepoint Uranium Group Inc. (TSX:PTU.V) reported today that it has staked a 4,217 hectare
property near the north-eastern edge of Canada's Athabasca Basin. The
Forsythe Lake property contains known electromagnetic (EM) conductors that
extend onto the neighbouring Denison/JNR Bell Lake
Project and lies approximately 20 kilometres west
of Cameco's La Rocque
occurrence (which returned up to 33.9% U3O8 over 5.5 metres).
"We maintain a very active watch for prospective projects that may
occasionally come available in the Basin" said Chris Frostad,
President & CEO of Purepoint. "As the
uranium sector emerges from the recent global economic collapse we are
fortunate to be able to add such a promising prospect to our portfolio".
Forsythe Lake
A previous airborne EM and magnetic survey outlined two parallel, east-west
striking EM conductors that are associated with a magnetic low and total 10
kilometers in length. The conductors terminate in the west against a very
strong, oval shaped magnetic anomaly having an associated increase in
conductivity. Modeling of this anomaly suggests that it is located in the
basement rocks at a depth of 430 metres, is
cylindrical in shape and has a diameter of approximately 1.2 kilometres .
Review of government assessment files show that the Forsythe Lake property
has never been drill tested. Initial drill targets will be areas where the EM
conductors show evidence of structural disruption, possibly creating traps
for uranium-rich hydrothermal fluids. One promising target is where the
conductors terminate against the magnetic anomaly, and a second is the
location at which the most northern conductor is apparently offset by some
500 metres.
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.
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
www.purepoint.ca
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