Purepoint Uranium Group Inc. (TSXV:PTU) announced the results of their four hole, 1,134 metre drilling program at the Smart Lake joint venture project.
As quoted in the press release:
Purepoint operates the Smart Lake project in the Athabasca Basin under the terms of an agreement with Cameco that permits Purepoint to acquire up to a 50% interest in the project.
The 2012 diamond drill program concentrated on the Shearwater electromagnetic (EM) conductor located on the Centre grid where initial drilling in 2008 discovered a radioactive structure that displayed multiple episodes of intense alteration and assayed up to 1,600 ppm U. All three completed holes continued to intersect favourable structures, alteration and radioactivity with assays up to 456 ppm U over 0.3 metres.