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Energy|Exploration|PROJECT|Testing|Drilling
Energy|Exploration|PROJECT|Testing|Drilling
energy|exploration|project|testing|drilling

Hook Lake JV partners approve 2020 exploration budget

12th November 2019

By: Creamer Media Reporter

     

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The partners in the Hook Lake project, in Saskatchewan's Athabasca basin, have approved an exploration budget of C$2-million for 2020, with exploration set to begin this winter.

The Hook Lake project is a joint venture (JV) between Cameco (39.5%), Orano Canada (39.5%) and Purepoint (21%) in the Patterson uranium district, which hosts Fission Uranium's Triple R deposit and NexGen's Arrow deposit.

The approved 2020 exploration programme would include 3 500 m of diamond drilling, about seven holes, and a geophysical survey, Toronto-listed Purepoint reported on Tuesday.

The diamond drilling would continue to test high-priority targets along the Patterson corridor including a conductive shear on trend between the Spitfire Zone and the Dragon area, follow-up testing of the Hornet Zone conductor, and new geophysical targets along the "W" conductor.

Purepoint said that a ground electromagnetic survey would be conducted over the Patterson corridor, along the "W" conductor, northeast of the encouraging drill hole HK19-105.

Fission's Triple R deposit has an indicated mineral resource of 87.76-million pounds of U3O8 at an average grade of 1.82% U3O8 and NexGen Energy's Arrow deposit has an indicated mineral resource of 256.6-million pounds at an average grade of 4.03%.

 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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