Purepoint Uranium Group has scheduled to resume the drill program at the Smart Lake JV project. According to the agreement signed with Cameco, the company operates this project in the Athabasca Basin and the contract permits the company to buy up to 50% interest in the Smart Lake project.
The company has scheduled to begin 1,750 m of diamond drilling at the Smart Lake project during June, 2012 and this program will focus on the Shearwater electromagnetic (EM) conductor. A geochemical sampling survey was completed in 2011 over a part of the Shearwater EM conductor, with the help of the techniques found by the Canadian Mining Industry Research Organization (CAMIRO).
Scott Frostad, Vice President of Exploration for Purepoint stated that the company is delighted to resume drilling at the Smart Lake project, after obtaining positive results from the primary drilling campaign.
The company has planned to drill four to five holes in order to continuously examine the Shearwater conductor. It has retained an aggressive drill program of Prince Albert in Saskatchewan to perform the 1,750 m of diamond drill program. The primary hole SMT08-01 cut a weakly radioactive structure, which revealed silicification, strong clay alteration and hematization, during 2008.
Ontario-based Peridot Geoscience carried out an independent geochemical data review, where in the data was gathered by the company at the Smart Lake project with the help of the CAMIRO sampling technique. This review identified that anomalous geochemistry followed the shearwater EM conductor’s north-south trend.