Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4790)	2/25/2014 6:11:39 PM
From: Goose94	Respond to of 202684

PTU-V new 52 week high, 13 cents.

To: Goose94 who wrote (4790)	3/10/2014 1:43:49 PM
From: Goose94	Read Replies (1) \| Respond to of 202684

PTU-V new 52 week high, 19 cents on news. Purepoint Uranium Group March 10, '14 has provided the initial results from a newly discovered zone of uranium mineralization within the Patterson Lake conductive corridor at the Hook Lake project in Saskatchewan's Athabasca basin. The best assays to date from the Spitfire zone have returned a weighted average of 0.32 per cent triuranium octoxide (U3O8) over 6.2 metres that includes an interval of 1.1 per cent U3O8 over 0.5 metre. The Hook Lake project is a joint venture with AREVA Resources Canada Inc. and Cameco Corp. Uranium mineralization has now been encountered in two of the four drill holes that have all intersected the D2 conductor and its associated structure the Spitfire fault. Discovery drill hole HK14-09 intersected mineralization within strongly chloritized and sheared quartz-rich semi-pelitic gneiss that returned 0.32 per cent U3O8 over 6.2 metres and included an interval of limonitic fault gouge that assayed 1.1 per cent U3O8 over 0.5 metre. The follow-up hole, HK14-11, targeted the Spitfire structure 30 metres up-dip and encountered radioactivity coincident with the same graphitic unit intersected by HK14-08 and 09. The strongly sheared graphitic pelitic gneiss returned 0.57 per cent U3O8 over 0.9 metre and an additional interval of 0.11 per cent U3O8 over 2.0 metres. "The D2 electromagnetic conductor has long been considered a high-priority target due to its coincidence with a large magnetic low, possibly indicative of hydrothermal alteration," said Scott Frostad, Purepoint's vice-president of exploration. "Now that the D2 conductor has been shown to be associated with uranium mineralization, we will increase our drilling efforts towards the northeast where geophysics suggests there is a more structurally complex setting." Highlights: The D2 conductor, now known to be associated with uranium mineralization, is 2.9 kilometres in length and has only been tested by four drill holes along a single section line. Hole HK14-09 returned a weighted average of 0.32 per cent U3O8 over 6.2 metres from a strongly chloritized and sheared quartz-rich semi-pelitic gneiss. Hole HK14-11 intersected 13.9 metres of strongly sheared graphitic pelitic gneiss that returned 0.57 per cent U3O8 over 0.9 metre and an additional interval of 0.11 per cent U3O8 over 2.0 metres. A second drill on the property is being mobilized to the newly discovered Spitfire zone to assist with its follow-up and expansion. Hole HK14-08 was the initial hole to test the D2 conductor and was drilled using PQ-sized casing in the same location as last year's failed holes HK13-05 and 5A. The vertically drilled hole encountered 105.1 metres of overburden then numerous intervals of unconsolidated Athabasca sandstone before reaching the unconformity at a depth of 139.6 metres. Quartz-rich semi-pelitic gneiss was encountered to a depth of 274.0 metres before intersecting 21.2 metres of Graphitic pelitic gneiss with moderate, patchy hematite alteration. The graphitic unit was moderately broken throughout and hosted a 90-centimetre hematitic fault gouge (Spitfire fault), and also had minor gouge seams that were weakly radioactive. The hole was completed at a depth of 363.0 metres within moderately foliated, unaltered quartz-rich semi-pelitic gneiss. No significant radioactivity was encountered by this hole. The discovery hole, HK14-09, was collared 20 metres southeast (135 degrees) of the HK14-08 collar and commenced drilling at a dip of minus 70 degrees to the northwest (315 degrees) to intersect the graphitic Spitfire fault closer to the unconformity. The hole was cased through overburden to a depth of 114.9 metres, drilled Athabasca sandstone to 150.1 metres, then encountered quartz-rich semi-pelitic gneiss with typical paleoweathering before becoming strongly chloritized and sheared for the 6.2 metres of previously described uranium mineralization between 208.9 and 215.1 metres. The main graphitic unit was encountered below the radioactive structure, between the depths of 228.8 and 244.5 metres, where the Spitfire fault appeared as an 8.3-metre shear zone with gouge seams, less than one metre in width, and low radioactivity. The hole was completed in relatively unaltered quartz-rich semi-pelitic gneiss at a depth of 393.0 metres. Hole HK14-11 was collared 30 metres northwest of HK14-09 as a follow-up and was also drilled at a dip of minus 70 degrees to the northwest. Overburden was encountered to a depth of 98.5 metres and the unconformity was intersected at a depth of 147.0 metres. Quartz-rich semi-pelitic gneiss with typical paleoweathering alteration was drilled to a depth of 197.9 metres then a strongly sheared, moderately chloritized and weakly bleached graphitic unit was encountered to a depth of 211.8 metres. In total, three intervals of mineralization were intersected within the graphitic Spitfire fault appearing as a mylonitic shear zone that includes 0.11 per cent U3O8 over 2.0 metres between 197.9 and 199.9 metres, 0.05 per cent U3O8 over 3.0 metres between 201.9 and 204.9 metres, and 0.57 per cent U3O8 over 0.9 metre between 210.6 and 211.5 metres. The hole was lost within quartz-rich semi-pelitic gneiss at a depth of 321.0 metres. The most recently completed hole, HK14-12, was collared 30 metres northwest of HK14-11 and again drilled at a dip of minus 70 degrees to the northwest. The hole targeted the graphitic Spitfire fault 30 metres up-dip of HK14-11 and much closer to the unconformity. Overburden was encountered to a depth of 109.5 metres followed by Athabasca sandstone to a depth 146.0 metres. Quartz-rich semi-pelitic gneiss was encountered to 167.1 metres before intersecting the Spitfire fault that appeared as a 0.5-metre-wide, weakly radioactive graphitic fault gouge, then strongly chloritized quartz-rich semi-pelite that becomes unaltered at the completion depth of 309.0 metres. Drilling on Patterson Lake to test the conductor outlined by last year's small moving loop transient electromagnetic survey has been completed and the drill is now mobilizing to the Spitfire zone. Three drill holes, HK14-10, 13 and 14, have been completed on Patterson Lake and results will be released once assays have been completed and reviewed. Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation No. 537). The samples are analyzed using partial and total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry. All drill intercepts are core width and true thickness is yet to be determined. Hook Lake project The Hook Lake project is owned by Cameco Corp. (39.5 per cent), AREVA Resources Canada Inc. (39.5 per cent) and Purepoint Uranium Group Inc. (21 per cent) with Purepoint being the project operator since 2007. It consists of nine claims totalling 28,683 hectares and is situated in the southwestern Athabasca Basin only five kilometres northeast of the new high-grade PLS uranium discovery by the Fission/Alpha joint venture. The depth to the Athabasca unconformity is very shallow, ranging from zero to 350 metres. Three prospective structural corridors have been defined on the property, each corridor being comprising multiple EM conductors that have been confirmed to be the results of graphitic metasediments that intersect the Athabasca unconformity. The Patterson Lake corridor is the same conductive trend along which Fission Uranium Corp. continues to intersect high-grade uranium mineralization, most notably the intercept of 9.08 per cent U3O8 over 54.5 metres in drill hole PLS13-075 (Fission Uranium Corp. press release of Sept. 4, 2013) including 21.8 per cent U3O8 over 21.5 metres. Within the Hook Lake project, the Patterson Lake corridor displays geophysical evidence of a complex structural history and, where drill tested, has shown favourable signs of alteration and structural disruption. Scott Frostad, BSc, MASc, PGeo, Purepoint's vice-president, exploration, is the qualified person responsible for technical content of this release.

To: Goose94 who wrote (4790)	3/31/2015 11:42:52 AM
From: Goose94	Read Replies (2) \| Respond to of 202684

Purepoint Uranium Group (PTU-V) March 31, '15 today reported preliminary results from the 2015 Hook Lake JV drill program within the Patterson Lake conductive corridor in Saskatchewan's Athabasca Basin. Results were highlighted by hole HK15-27 that returned 2.8 metres of 2.23% U3O8 including 12.90% U3O8 over 0.4 metres. The Hook Lake project is a joint venture with AREVA Resources Canada Inc. and Cameco Corporation. The new high-grade uranium intercept by hole HK15-27 is located 240 metres along strike (northeast) and 180 metres down dip of last year's Spitfire Discovery (press release dated March 10, 2014). Uranium mineralization is controlled by a semi-brittle structure that is coincident with the upper contact of a thick, strongly sheared Graphitic-pyritic Pelitic Gneiss unit. Drilling is following up the HK15-27 high-grade mineralized intercept. "We were led to successively deeper drill targets while using large step-outs to chase an observed increase in alteration and radioactivity," said Scott Frostad, Purepoint's Vice President of Exploration. "Our successful cut of high-grade mineralization came by drilling 85 metres down dip of the structure that returned 0.10% U3O8 over 4.3 metres in hole HK15-25". Highlights: High-grade uranium mineralization has been discovered 240 metres northeast of the Spitfire discovery approximately 390 metres below surface; Hole HK15-27 intersected 2.23% U3O8 over 2.8 metres from the upper contact of a graphitic unit (depth of 390 metres) and contains 20 centimetres of semi-massive pitchblende; Hole HK15-25 intersected 0.10% U3O8 over 4.3 metres (depth of 310 metres) from the same structure hosting the high-grade mineralization in HK15-27, and an additional interval of 0.13% U3O8 over 1.2 metres (depth of 255 metres); The current drill season will allow for a few more follow-up drill holes to the HK15-27 intercept Initial Drill Results - NE of Spitfire Discovery Eleven diamond drill holes (5,438 metres) have now been completed during the ongoing 2015 winter drill program that is expected to continue into early April. Five of the eleven drill holes have been drilled northeast of the Spitfire discovery area along strike. Drill hole HK15-18 was collared 350 metres northeast of the Spitfire discovery (0.32% U3O8 over 6.2 metres) and drilled with an azimuth of 307 degrees at a dip of -70 degrees. Overburden was cased to a depth of 114 metres then moderately bleached, highly fractured and locally unconsolidated Athabasca sandstone was drilled to the unconformity at a depth of 178 metres. Chloritized, moderate to strongly sheared Graphite-rich Pelitic Gneiss was encountered between 217 and 226 metres and returned 95 ppm U over 2.3 metres from intervals of crushed core and strong patchy clay alteration. Chloritized and silicified Quartz-rich Semi-pelitic Gneiss was then encountered to 253 metres, was strongly sheared with moderate clay alteration to 294 metres, strongly chlorite altered to 372 metres and then unaltered to the completion depth of 439 metres. Drill hole HK15-21A was collared 60 metres behind HK15-18 to test the graphitic units and associated elevated radioactivity at depth. The hole was drilled with a similar azimuth of 307 degrees and dip of -70 degrees and the unconformity was intersected at 181 metres. Strongly hematized and chloritized Quartz-rich Semi-pelitic Gneiss was encountered to 281 metres then a Graphitic-pyritic Pelitic Gneiss to 291 metres. Three intervals of elevated radioactivity, ranging in width from 0.7 to 1.2 metres, were intersected between 262 and 269 metres returning 24 ppm U over 7.0 metres. Moderate to strongly clay altered, quartz-poor Pelitic Gneiss was then drilled from to 407 metres with a sericite-rich interval returning 105 ppm U over 3.1 metres between 390.0 and 393.1 metres. Quartz-rich Semi-pelitic Gneiss was strongly chloritized to 421 metres then unaltered to the end of hole at 444 metres. Drill hole HK15-22 was collared approximately 400 metres northeast of HK15-21A using an azimuth of 307 degrees and a dip of -70 degrees. Overburden was cased to a depth of 109 metres, and then moderately bleached, locally unconsolidated Athabasca sandstone was encountered to the unconformity at 200 metres. Quartz-rich Semi-pelitic Gneiss displaying moderate, pervasive clay alteration was drilled to 245 metres then became strongly hematite altered to 277 metres with a 7 metre interval displaying strong shearing and minor fault gouge. Strongly chloritized Pelitic Gneiss was encountered to 368 metres then strongly sheared graphitic bands (2 to 9 metres in width) were present to a depth of 402 metres. Moderately chloritized Quartz-rich Semi-pelitic Gneiss was then drilled to the completion depth of 528 metres. No significant radiation was encountered. Drill hole HK15-25 was drilled 100 metres southwest of hole HK15-21A with an azimuth of 307 degrees and dip of -70 degrees. The unconformity was intersected at 160 metres then Pelitic Gneiss, displaying various degrees of chlorite, hematite and clay alteration, was drilled to 223 metres and hosted two fault zones that measured 0.9 and 8.2 metres in width. Quartz-rich Semi-pelitic Gneiss with strong chlorite alteration was drilled to 295 metres before becoming clay-rich to a depth of 310 metres. The quartz-rich gneiss was strongly sheared locally, hosted three fault zones measuring 2 to 4 metres in width, and returned 0.13% U3O8 over 1.2 metres from 253.2 to 254.4 metres. Strongly sheared Graphitic-pyritic Pelitic Gneiss with minor fault gouge and bands of crushed core was intersected between 310 and 347 metres and returned 0.10% U3O8 over 4.3 metres between 312.7 and 317.0 metres. Chloritized Pelitic Gneiss with local strong shearing and clay/quartz-rich intervals was then encountered to 400 metres and hosted a 3-metre graphitic-pyritic shear and a 2-metre fault zone. Granitic Gneiss was then drilled to the completion depth of 464 metres. Drill hole HK15-27 tested the radioactive structure intersected by HK15-25 at depth by backing the drill up 70 metres. The hole was drilled with an azimuth of 304 degrees and dip of -70 degrees. The unconformity was reached at a depth of 158 metres, Quartz-rich Pelitic Gneiss with strong hematite alteration was encountered to 203 metres, became moderately clay altered to 232 metres with a fault zone being intersected between 213 and 220 metres, then chloritic until reaching Graphitic-pyritic Pelitic Gneiss at 391 metres. At the upper contact of the Graphitic unit, between the depths of 389.0 and 391.8 metres, 2.23% U3O8 was intersected over 2.8 metres that includes 12.90% U3O8 over 0.4 metres. Contained within the 0.4 m high grade interval is 20 cm of semi-massive pitchblende. The strongly sheared Graphitic unit persisted to a depth of 415.9 metres, followed by chloritic Quartz-rich Pelitic Gneiss to 498.0 metres, then unaltered Granitic Gneiss to the completion depth of 533.0 metres. Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation #537). The samples are analyzed using partial and total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry. All drill intercepts are core width and true thickness is yet to be determined. Hook Lake JV Project The Hook Lake JV project is owned jointly by Cameco Corp. (39.5%), AREVA Resources Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) and consists of nine claims totaling 28,683 hectares situated in the southwestern Athabasca Basin. The depth to the Athabasca unconformity is very shallow, ranging from zero to 350 metres. Three prospective structural "corridors" have been defined on the property, each corridor being comprised of multiple EM conductors that have been confirmed by drilling to result from graphitic metasediments that intersect the Athabasca unconformity. Current exploration is targeting the Patterson Lake Corridor, the same conductive trend which not only hosts Fission's Triple R deposit, but as well produced two new uranium showings last winter. Those showings included the Arrow Discovery by NexGen Energy Ltd. where hole AR-14-30 returned 10.3% U3O8 over 46 metres (NexGen press release of October 6, 2014) and the Spitfire Discovery by the Hook Lake JV with drill hole HK14-09 returning 0.32% U3O8 over 6.2 metres including an interval of 1.1% U3O8 over 0.5 metres. About Purepoint Purepoint Uranium Group Inc. is focused on the precision exploration of its eight projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and AREVA Resources Canada Inc. 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. Mr. Frostad has supervised the preparation of, and approved the scientific and technical disclosures in, this news release. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Purepoint Uranium Group Inc. Chris Frostad President and CEO (416) 603-8368 www.purepoint.ca