Purepoint Uranium Group Inc (TSX-V:PTU, OTCQX:PTUUF, FRA:P5X0) announced that drilling has begun at the Dorado project in Saskatchewan’s Athabasca Basin, the flagship asset of its 50/50 joint venture with IsoEnergy.
The fully funded summer 2026 exploration program will consist of seven drill holes totaling approximately 3,150 metres and is expected to continue through July and August.
The campaign is focused on expanding the Nova uranium discovery while also testing additional exploration targets across the broader Dorado property.
The program follows a nine-hole winter drilling campaign at Nova, where Purepoint reported that all holes intersected radioactivity exceeding 500 counts per second (cps). The company said that winter drilling expanded uranium mineralization across a one-kilometre structural corridor and helped refine its geological model. Assay results from the winter program remain pending.
Chris Frostad, Purepoint’s CEO, said that the winter campaign significantly improved the company's understanding of the Nova system and provided a stronger geological model to guide the next phase of exploration.
“Our objective this summer is to test the interpreted plunge of the mineralized structure, evaluate its potential extension toward the unconformity, and continue assessing additional high-priority targets across the broader Dorado Project,” Frostad said. “Each drill program is building on the success of the last and moving us systematically toward defining the full scale of the system.”
The summer program will test the interpreted plunge of the Nova mineralized structure and evaluate its potential extension toward the unconformity. The mineralized corridor remains open along strike, at depth and toward the unconformity, Purepoint said.
Previous drilling at Nova returned assays of up to 8.1% U3O8, according to the company. Winter drilling also recorded a peak downhole gamma reading of 73,100 cps.
In addition to work at Nova, the summer campaign will assess several conductive targets identified by earlier geophysical surveys that have not yet been drill tested. Purepoint said that these targets could help define the extent of the mineralized system across a larger portion of the Dorado Project.
The company also recently completed an airborne MobileMT geophysical survey over the property, with results expected to be incorporated into future geological interpretations and drill targeting.
The Dorado project covers more than 98,000 hectares in the eastern Athabasca Basin, a region known for hosting several high-grade uranium deposits. Purepoint and IsoEnergy each hold a 50% interest in the project.
Shares of Purepoint added around 1.4% on the news on Wednesday morning.