Purepoint Uranium Group CEO Chris Frostad: Embracing Growing Uranium Opportunities
Purepoint Uranium Group (TSXV:PTU,OTCQB:PTUUF) CEO Chris Frostad joined the Investing News Network to discuss the company’s diverse uranium portfolio.
“We do have quite a large portfolio that we’ve been managing, maintaining, and growing during the down period of uranium,” Frostad said. “It helps us reprioritize and apply the most current technologies to what we’re up to.”
In particular, he talked about the Red Willow project in the Northeastern Athabasca Basin, and the previous drilling season at the project’s Osprey Zone. “What we found in the last drill season looks almost identical to what we started to see when we moved into our indoor Spitfire Zone deposit out on our Hook Lake project — but this was much larger. We continuously hit radioactivity over 1.2 kilometers, indicating a fairly significant mineralization event occurred in that region.”
As for Purepoint Uranium’s financials, Frostad mentions having approximately $5 million currently in the bank, allowing the company to maintain its pace. “I think with the price of uranium, there’s still a lot of room to grow,” he said.
Regarding the Hook Lake joint venture with Cameco, Frostad mentioned that it has become a focus on doing a deep sensing, airborne survey, geological geophysical survey over that area to really define the targets that we want to hit. He notes, “The focus to date is on that center Patterson corridor where there’s about 350 million pounds of uranium.”
As for the company’s upcoming plans, Frostad said, “In September, we’ll be going back with the drill to the Osprey zone. We’re going to start with Red Willow and continue to follow up on all that radioactivity we’re hitting. By the end of the season, we hope to get out and start doing some work at our Turner Lake project. … We’re doing geophysical work and field work across all of our other projects as well: Taverner, Carson Lake, Russell South, all projects at various stages of advancement.”
Watch the full interview of Purepoint Uranium Group CEO Chris Frostad above.
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