Purepoint Uranium refines three drill targets at Smart Lake, Saskatchewan
Purepoint Uranium Group Inc. [TSXV: PTU; OTCQB: PTUUF] reported 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 Corp. [NYSE: CCJ; TSX: CCO] (73%) and Purepoint Uranium (27%) in the southwestern Athabasca basin, northern 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 2024, to refine targets for the coming drill program.
The survey covered 31.5 line-km across 19 loops using 12 lines spaced 600 metres apart.
Three discrete parallel EM conductors, approximately 100 metres apart extending over 2.2 km, 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 of 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 parts per million uranium over 15.4 metres (153.0 metres 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 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.
The coming Smart Lake drill program will focus on the northern Groomes Lake area, where geophysical data have 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 NI 43-101 compliant technical report for the Smart Lake project is available on the company’s website.
The Smart Lake project is located approximately 60 km south of the historic Cluff Lake mine and 18 km west-northwest of the Hook Lake joint venture project. The property spans 9,860 hectares within the Athabasca basin, an area renowned for hosting the world’s highest-grade uranium deposits.
Initial exploration at Smart Lake established the presence of graphitic shear zones, hydrothermal alteration and anomalous radioactivity. The favourable geological indicators, combined with its strategic location and extensive geophysical data, position Smart Lake for uranium exploration success.
Additionally, the company holds a promising VMS (volcanogenic massive sulphide) project currently optioned to and strategically positioned adjacent to and on trend with Foran Corp.’s McIlvena Bay project.