Purepoint Uranium Group Inc (TSX-V:PTU, OTCQX:PTUUF, FRA:P5X0) earlier this week reported assay results from its winter drilling program at Dorado, with CEO Chris Frostad saying the work had confirmed a high-grade uranium system and provided important geological information for the company’s ongoing exploration.
Proactive: Really good news out today from the company and a news release that you’ve been able to expand your uranium discovery at Dorado. Tell me a little bit about what you’re seeing here in this news.
Chris Frostad: Sure. In this press release, we put out our assays from last winter. We had already put out a lot of those results but had not had the assays back. What we’ve been able to do is really confirm that we have a high-grade system running through the area, in addition to the 1.65% that we picked up over a short period.
All of our holes during the winter program were picking up mineralization, and we were able to extend that system for about a kilometre. I think some of the more important information that we found out of it is really the geology, a lot of the structural information about that area where that system has come through, because it is quite complex.
There’s more than one conductor, more than one target area. There’s an area where it seems to fork in two different directions. So we were able to really better understand what was going on down there and use that information in our summer program.
And that really was what winter was all about — obviously drilling for results, but also gaining a lot of information that you’re able to take to the next stage.
Absolutely. When you find the sort of high-grade uranium like we saw, you know that a significant system has come through the area. Then it becomes a matter of hide and seek. You have to figure out where this thing is going to or has come from. Now that we understand a lot of that geology, we can get a better understanding.
Like I say, we were able to use a lot of that information in our summer program. We put out some of the early results from that summer program earlier this summer. We’ve been able to continuously find mineralization moving through that system. So we’re quite excited about Nova, and we will be putting out the results of all of our summer work very shortly.
We just wrapped up out there in the last couple of weeks.
You and I have talked in the past about why you drill and when you drill and the importance of drilling. The one thing I note there is that it really describes, in my opinion, a jigsaw puzzle, because you’re putting little pieces here and there. What you did in the winter really aided what you did in the summer, and now the summer data you’ll get will really aid you in the next steps, honing in on areas that you really want to focus on.
You’re right. These things are smaller than a football field and they’re buried, you know, half a mile under the ground, so it’s a little tough to find sometimes. You never know where the hand has come down and laid down some uranium.
But I think once you see a system like this, you really need to keep looking and keep working it and better understand what’s going on down there.
As we’ve talked about, in the summer it’s a little more expensive because we have to use a helicopter. We have to use lighter drills. We’re looking forward to getting back in the winter again, when we can really do a lot faster work, a lot more important work, and get into places that we can’t right now.
We were able this summer to get into a couple of other targets for the first time as well. So it’s been a good summer, and we’ll be putting out that news very, very shortly.
Quotes have been lightly edited for style and clarity
