FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc: Begins Winter Drill Program at Turnor
Lake
Toronto, January 24, 2008 - Purepoint Uranium Group
Inc. (TSX:PTU.V) is pleased to announce the commencement of their diamond
drill program at their 100% owned Turnor Lake project located in the
Athabasca Basin. The company has planned 4,000 metres of diamond drilling
prior to spring break-up in April of this year.
"Last year our drilling confirmed the existence of extensive
uranium rich alteration halos on this property. In light of this early
success, we refocused our efforts on the enhancement of our understanding of
the area using more sophisticated and detailed geophysics" said Scott
Frostad, Purepoint's Vice President Exploration. "We are excited to be
returning drills to the project and have very high expectations for this
year's program".
Highlights:
- The Turnor Lake conductors
wrap around the Kelsey Dome, the same structural feature associated with
neighboring high grade uranium showings (including Cameco's La Rocque
Deposit which encountered grades up to 33.9% U3O8 over 5.5 m);
- Diamond drilling in the
winter of 2008 will concentrate on new geophysics completed on the
Quetzal Zone and Serin Conductor;
- The Quetzal Zone is comprised
of a complex series of untested, electromagnetic conductors interpreted
to represent faulted graphitic rocks of a nature typically associated
with uranium deposits in the Athabasca Basin.
- Holes completed by Purepoint
south of the Quetzal Zone have outlined uranium-rich alteration similar
in nature to those that surround many of the known ore deposits hosted
in the Athabasca Basin;
- IP resistivity survey results
suggest extensive zones of sandstone alteration underlie the Quetzal
Zone, and the detailed magnetic and gravity surveys indicate a high
degree of structural complexity in that Zone. The association of these
promising indicators (hydrothermal alteration and structural complexity)
makes this untested Zone highly prospective;
- A seismic survey conducted
over the Serin Conductor indicates it is cut by a significant
step-fault. Similar faults elsewhere in the Basin have provided
structural traps that have localized uranium bearing hydrothermal fluids
and resulted in the formation of ore bodies.
The
Turnor Lake Project
The Turnor Lake Project
is 100% owned by Purepoint and includes five claims with a total area of
9,705 hectares situated in the eastern plane of the Athabasca Basin. Depth to
the unconformity is shallow at approximately 180 metres.
The property covers graphitic
conductors that are associated with uranium showings on adjoining properties,
namely Cameco's La Rocque occurrence (up to 33.9% U3O8 over 5.5 m) to the
west and Areva's HLH-50 intercept (5.2% U3O8 over 0.38 m) located to the
south. The project lies in close proximity to several uranium deposits
including Midwest Lake, McClean Lake and Eagle Point.
Quetzal Zone
The untested Quetzal Zone is located north of Purepoint's previous drilling
and was the subject of one airborne and four types of ground geophysical
surveys during 2007. These surveys (electromagnetics, magnetics, IP
resistivity and gravity) defined over seven kilometers of electromagnetic
conductors within a complex structural setting that will be the focus of the
2008 winter drill program. Areas interpreted to be underlain by graphitic
rocks and crosscutting structures will be targeted as they are ideally suited
to host a typical Athabasca Basin unconformity uranium deposit.
Serin Conductor
The Serin conductor is interpreted to be the northeastern extension of the
conductor which hosts Cameco's La Rocque showing. The Serin conductor was
first identified by Purepoint during a 2005 ground EM survey. Results from EM
surveys suggest the conductor is offset (dislocated) by approximately 150
metres at the same location that a refraction seismic survey, conducted by
Saskatchewan Energy and Mines (SEM) in 1984, reflects a significant down drop
in the basement topography. The MacArthur River Deposit, one of the world's
largest uranium mines, was formed at the site of a similar basement
step-fault. Three drill holes are planned for this target area.
Previous Drill
Results
To date Purepoint has drilled 34 holes on the Turnor property, concentrating
on the southern end of the Turaco grid. All assays have been received and
almost all the drill holes have returned significant uranium assays (up to
0.15% U3O8) spatially associated with the Athabasca Group unconformity.
The hydrothermal fluids
that contribute to the formation of uranium ore bodies also tend to create
alteration halos in the rocks surrounding the deposits. These halos are
marked by the addition or removal of minerals and results in changes to the
composition of these rocks. Twenty five of the 34 holes drilled on the Turaco
grid returned results from the Athabasca sandstone that are consistent with
this type of alteration and assayed uranium concentrations as high as 300
times the generally accepted 'background' concentration standard for the
Athabasca Basin.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of more
than 42 defined target areas on its seven 100% owned projects in the Canadian
Athabasca Basin, and its two Basin projects joint ventured with Cameco
Corporation and AREVA Resources Canada Inc. Established in the Basin well
before the resurgence in uranium, Purepoint is actively advancing this 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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