Purepoint Uranium Group (TSXV:PTU,OTCQB:PTUUF) is turning the spotlight towards its other 100 percent owned, high-value assets in the Athabasca Basin due to the rebalancing of uranium prices.
According to Purepoint Uranium CEO Chris Frostad, the company has 11 projects that were on hold, waiting for a time when uranium prices were more favorable for the company to apply appropriate financing.
“We’re still obviously very keenly interested in continuing our work at Oak Lake, but now we’re going to really be opening up the warehouse on a lot of new projects,” Frostad said. “These are projects that we made discoveries on over the last five to 10 years, significant ones. We’re now in a position to turn the spotlight towards some of those, and we’ll be doing a significant amount of drilling in the coming year on a number of those projects.”
Purepoint Uranium’s portfolio of projects in the Athabasca Basin covers 182,261 hectares, most of which have already demonstrated mineralized uranium in drill core.
“Our projects are large and well established. They’re exactly at the right zone, and there’s a lot of room there for big discovery. Our expectation is that over the next year or two, as we now apply more significant efforts towards these projects, we are in a very good place to come up with at least one and maybe more discoveries,” Frostad added.
“We have projects of merit, we are not just a real estate company hanging on to projects in the right neighborhood. These are projects that we can demonstrate have real value. We’re following up on drill results with measurable percentages of uranium mineralization. We are exploring in a very methodical and proper manner across a complete pipeline of projects. We can continuously reprioritize where we put our efforts based on the results on an ongoing basis to make sure that we are always looking in the most prospective areas.”
Watch the full interview of Purepoint Uranium CEO Chris Frostad above.
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