Purepoint Uranium

Overview

The Athabasca Basin in Saskatchewan presents distinctive discovery and exploration alternatives for corporations trying to enter the thriving uranium market. Uranium is poised for important progress and the anticipated deficit within the provide facet will create alternatives available in the market. With new reactors regularly coming on-line to fulfill demand and a restricted variety of suppliers to fill it, trying to high-value mining jurisdictions for uranium is without doubt one of the finest methods for corporations making an attempt to get forward of the gang.

With robust backing from trade leaders, Purepoint is about to advance its key initiatives whereas protecting shareholder dilution to a minimal.

• Publicity to district-scale uranium exploration within the Athabasca Basin
• Decreased monetary danger by means of strategic partnerships
• Operational management of exploration actions
• Aligned with renewed curiosity in uranium exploration from main producers

Firm Highlights

• Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a centered explorer with a dynamic portfolio of superior initiatives inside the famend Athabasca Basin in Canada. T
• Essentially the most potential initiatives are actively operated on behalf of partnerships with trade leaders together with Cameco Company, Orano Canada Inc. and IsoEnergy Ltd. Moreover, the Firm holds a promising VHMS mission at present optioned to and strategically positioned adjoining to and on pattern with Foran Company’s McIlvena Bay mission.
• By a strong and proactive exploration technique, Purepoint is solidifying its place as a number one explorer in one of many globe’s most vital uranium districts.

The Hook Lake property is situated inside the Patterson Uranium district and has 9 claims totalling 28,598 hectares. The mission is collectively owned by Cameco, Orano Canada and Purepoint Uranium. Operated by Purepoint since 2007, the mission has seen important discoveries and exploration campaigns.

Highlights of discovery on the property embrace the Spitfire high-grade discovery which revealed 53.3 p.c uranium oxide over 1.3 meters, together with a 10-meter interval of 10.3 p.c uranium mineralization measurements. Three potential structural “corridors” have been outlined on the property, every consisting of a number of electromagnetic (EM) conductors confirmed by drilling.

In 2024, Purepoint accomplished 2,332 metres of drilling in 4 holes to check the success of the earlier 2023 drill program that uncovered a major 35-metre-wide boron halo surrounding a 0.08 p.c U3O8 uranium intercept over 0.4 metres at gap CRT23-05. Boron is a key pathfinder factor for uranium deposits. The 2024 drill program ended with the invention of the newly recognized Lightning Zone within the Carter Hall, returning 0.9 metres of 0.29 p.c U3O8 together with 0.3 metres of 0.68 p.c U3O8. related to a significant construction intersected by gap CRT24-10.

All of the 2024 drill holes had been collared northeast of CRT23-05, drilled in 2023, that intersected 0.08 p.c U3O8 over 0.4 metres inside a 15 metre large graphitic shear zone with native brecciation and intense clay alteration.

All 2024 drill holes encountered elevated radioactivity.

Purepoint, as operator, holds a 27-percent possession of the Sensible Lake mission in three way partnership with Cameco Corp.

The Sensible Lake property contains two claims with a complete space of 9,860 hectares located within the southwestern portion of the Athabasca Basin, roughly 60 km south of the previous Cluff Lake mine and 18 kilometers west-northwest of Purepoint’s Hook Lake JV mission.

Depth to the unconformity, the place it happens, is comparatively shallow at lower than 350 meters.

Aeromagnetic and electromagnetic patterns at Sensible Lake mirror an extension of the patterns underlying the Shea Creek deposits (indicated useful resource of 68 million lbs at 1.50 p.c U3O8; UEC PR Jan 2023) 55 kilometers north of the property. Exploration by Purepoint has firmly established the presence of anomalous uranium and hydrothermal alteration. Quite a few precedence goal areas, the place EM conductors are cross-cut by east-west constructions, are but to be drill-tested.

Just like the Kianna fault at Shea Creek, identified uranium mineralization on the Sensible Lake mission is related to the intersection of the east-west Arthur Fault and north-south-striking fluid/chemical traps together with the Shearwater conductor and chloritized mafic orthogneiss. The prevalence of low-grade uranium mineralization alongside the Arthur Fault away from Shearwater conductor underscores the necessity to goal east-west constructions each on the intersection with conductive anomalies and magnetically interpreted lithological contacts.

Further east-west placing faults (Groomes Lake and Cristobal) have been interpreted from examination of airborne magnetic and electromagnetic surveys. These faults are spatially associated to robust EM conductors recognized in each airborne and ground-based geophysical surveys.

Purepoint plans to conduct stepwise transferring loop and stuck loop transient EM surveys on the Sensible Lake JV mission. Survey outcomes from the northern Groomes Lake conductor can be used to outline discrete targets for the subsequent step drilling.

Purepoint Uranium has shaped a 50-50 three way partnership with IsoEnergy, combining 10 uranium exploration initiatives in Saskatchewan’s Athabasca Basin. Purepoint would be the operator for exploration actions, whereas IsoEnergy will take over if a useful resource is recognized.

This strategic transfer not solely validates Purepoint’s belongings but in addition positions the corporate to advance its most promising initiatives with decreased monetary danger.

• Joint Enterprise Portfolio– The Joint Enterprise can be comprised of 10 initiatives inside the jap Athabasca Basin (Determine 1) together with:
  • IsoEnergy’s Geiger, Thorburn Lake, Full Moon, Edge, Collins Bay Extension, North Thorburn, 2Z Lake, and Madison Initiatives.
  • Purepoint’s Turnor Lake and Pink Willow Initiatives.
• Complementary and Potential Floor Protecting the Larocque Development with Robust Discovery Potential – The Larocque Development (“Larocque Development”), is a crucial regional construction that hosts the world-class Hurricane deposit and different notable high-grade occurrences, together with these on Cameco/Orano’s Daybreak Lake three way partnership. The pattern extends onto the Turnor Lake and Full Moon Initiatives, positioning the Joint Enterprise alongside a confirmed hall for uranium mineralization, the place additional discoveries may very well be expedited (Determine 2).
• Strategic Synergy and Strengthened Positioning by means of Fairness Participation – IsoEnergy will subscribe for $1.0 million in concurrent fairness financing of Purepoint.By this fairness stake, IsoEnergy will achieve publicity to Purepoint’s different extremely potential exploration initiatives within the Athabasca Basin, together with Hook Lake, which beforehand intersected a powerful 10 meters at 10.3% U₃O₈. In flip, Purepoint will profit from IsoEnergy’s monetary and technical assist, enabling each corporations to work collaboratively to speed up mission improvement and drive long-term success.
• Preliminary Possession Construction and Working Phrases – IsoEnergy will initially maintain a 60% curiosity within the Joint Enterprise, whereas Purepoint will maintain a 40% curiosity. Every celebration has the choice to regulate this possession to 50/50 inside six months by means of the train of mutually unique put/name choices.Purepoint will function the operator through the exploration part of the Joint Enterprise properties. Upon the development into the pre-development part, IsoEnergy will assume operational management of the Joint Enterprise properties.