New Drill Results Spark Investor Excitement in Saskatchewan Uranium Play
IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) and Purepoint Uranium Group Inc. (TSX-Venture: PTU) (OTC: PTUUF) stated in a press release this morning that their first drilling at the Dorado project in Saskatchewan is off to a great start. They found uranium in two drill holes with very high radiation readings, suggesting there's an active source of uranium in the rocks underground.
Highlights of the drill program stated initial drilling at the Q48 target in the southern part of the Project had confirmed significant uranium mineralization, with drillholes PG25-04 and PG25-05 intersecting a steeply dipping, north-south trending mineralized structure at depths of 60 m and 20 m below the unconformity, respectively. Downhole probe measurements recorded high radioactivity readings—averaging 11,050 cps over 3.7 m in PG25-04 and 27,750 cps over 2.3 m in PG25-05.
The mineralization is hosted in strongly clay-altered basement rocks, typical of Athabasca-style uranium systems. Q48 had been identified as a high-priority target due to historic drilling and 2022 mapping of faults and alteration along the conductive trend. A third hole is underway to extend the mineralized structure northeast, with 5,400 m in 18 drill holes planned for the Project in 2025.
"This is exactly the kind of start we were aiming for. These early results suggest we're on the trail of something meaningful." said Chris Frostad, President and CEO at Purepoint. "These initial hits speak to the quality of the target and the systematic approach our team is taking to uncover its potential. We're moving quickly to follow up on these encouraging results as drilling continues."
While shares of ISO are down 2.41% at $9.31, their partner's stock is surging, with PTU up 24.53% at $0.33 and U.S.-listed shares (PTUUF) up 27.76% at $0.243 in early-afternoon trading.
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