Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") is pleased to announce that recent ground electromagnetic (EM) surveys at the Smart Lake Joint Venture (JV) project have refined high-priority drill targets along the Groomes Lake Conductor with drilling scheduled to begin in mid-March. Smart Lake is a joint venture between Cameco Corporation (73%) and Purepoint (27%) in the Southwest Athabasca Basin, Saskatchewan, Canada.
Highlights
- A stepwise-moving loop time domain electromagnetic (SWMLTEM) and fixed loop time domain electromagnetic (FLTEM) survey was conducted during November and December of 2024 to refine targets for the upcoming drill program.
- The survey covered 31.5 line-kilometres across 19 loops using 12 lines spaced 600 metres apart.
- Three discrete parallel EM conductors, approximately 100 metres apart extending over 2.2 kilometers, were outlined, representing highly prospective drill targets.
"The new electromagnetic survey has provided high-resolution targets within an area of Smart Lake that remains largely untested by historical drilling," said Scott Frostad, Vice President of Exploration at Purepoint Uranium. "Given the basement-hosted uranium mineralization we encountered in our initial drill program, we're excited to return and test these newly identified conductors next month."
Revisiting a Proven Uranium Target
The 2025 drill program follows up on encouraging results from Purepoint's initial drill campaign in 2008 where uranium mineralization was intersected in faulted and altered basement rock. Drill hole SMT08-05 returned 147 ppm U over 15.4 metres (153.0 to 168.4 metres) from a hematite breccia and sheared fault zone.
While exploration at Smart Lake was previously postponed as focus shifted to Hook Lake's s Patterson Corridor the property remains a high-priority target within Purepoint's portfolio. The strong EM conductors, favourable structural setting, and similarities to high-grade uranium deposits in the Athabasca Basin reinforce the project's exploration potential.
2025 Groomes Lake Drill Program
The upcoming Smart Lake drill program will focus on the northern Groomes Lake area where geophysical data has defined multiple conductors in a structurally complex and highly prospective uranium setting. Despite these strong indicators, the conductive package remains largely untested, presenting a significant opportunity for discovery.
A National Instrument 43-101 compliant Technical Report for the Smart Lake project is available on the Company's website. The technical report for Smart Lake filed by the Company in 2012 under the Company's profile at https://www.sedarplus.ca/ and displayed on its website at https://purepoint.ca/projects/smart-lake/ may be relied on for background information but contains a work program not updated to reflect current exploration plans.