The largest and highest-grade uranium deposits in the world are located in northern Saskatchewan’s Athabasca Basin.

And one intrepid explorer, Purepoint Uranium (PTU.V; PTUUF.OTC) has gained a first-mover advantage in the basin, thanks to a portfolio of projects amassed over the past two decades.

Today, drills are turning on its flagship property and already delivering some eye-popping preliminary results...while two of the industry’s biggest players are working to advance its next high-potential uranium play.

Dear Fellow Investor,

The Athabasca Basin is the Saudi Arabia of uranium deposits.

Simply put, this massive geological structure in northern Saskatchewan plays host to the highest-grade uranium resources on the planet.

And in a uranium sector that’s just beginning to take off after years of bear market doldrums, the basin remains Ground Zero for explorers looking to make a big uranium find.

That’s what makes Purepoint Uranium (PTU.V; PTUUF.OTC) and its large portfolio of Athabasca Basin projects one of the most exciting plays in the sector.

You see, while the uptick in uranium prices has new companies popping up like mushrooms after a rainstorm, Purepoint has been in the basin for 20 years cultivating advanced stage projects with real promise.

As you’re about to see, it has a project in the northeastern part of the basin that has tons of room to grow...and a project in the southwestern basin joint ventured to Cameco and Orano, two of the industry’s biggest players.

Combined with a project portfolio that covers 200,000 hectares in the basin spread over 12 projects, Purepoint Uranium is primed to deliver maximum leverage as momentum returns to the uranium space.

Global Events Strengthen Uranium Prices

The nuclear power industry, which took a sizable hit after the 2012 disaster in Fukushima, Japan, is the primary consumer of uranium in its processed form.

After Fukushima, nuclear power plants in Japan went offline and other countries like Germany followed suit.

Today, though, there are just about as many nuclear reactors in operation as there were before the disaster, with China leading the way in building new plants.

This has combined with a supply cutback in North America and Kazakhstan and the recently launched Sprott Physical Uranium Trust (“SPUT”) to send uranium prices markedly higher.

That strength has been further supported in 2022 by the Ukraine crisis, which is making uranium supplies from Russia, Kazakhstan and Uzbekistan highly suspect for western buyers.

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A High-Potential Flagship Project

Generating positive news into this rising price environment is Red Willow, Purepoint’s flagship uranium project in the northeastern corner of the Athabasca Basin.

The focus of 2022 drilling at Red Willow is the Osprey zone, where five of the first seven holes drilled to date have encountered anomalous uranium.

The interesting part is that these initial holes lie within an electromagnetic corridor that represents prime uranium-hosting ground for some two kilometers north of the completed drilling and a half-kilometer to the south.

In other words, the target here is big.

Moreover, preliminary scintillometer testing is showing high levels of radioactivity in initial holes, including peak levels of 8,830 cps (counts per second) in Hole 4 and an eye-popping 33,070 cps in Hole 6.

Purepoint is particularly excited about the prospects for further drilling to the north, where cross-cutting structures may have allowed for a more significant deposition of mineralization.

A “Major” Exploration Project

While the drills turn at Osprey and Red Willow, Purepoint will also advance its understanding of its Hook Lake project.

Why is this project so exciting? Because this large land holding is on trend with the two biggest uranium discoveries of the 21st century: NexGen’s Arrow deposit (256.6 million pounds of indicated U₃O₈) and Fission Uranium’s Triple R deposit (102.4 million pounds of indicated U₃O₈).

This is why Hook Lake is being bankrolled by two of the tiny uranium sector’s whales: Cameco and Orano.

These players don’t fund projects unless they see potential for 100 million pounds or more of U₃O₈, and that’s what they and Purepoint are on the hunt for at Hook Lake.

Right now, the partners are investigating a parallel corridor called Carter that lies to the west of the Patterson corridor that produced Arrow and Triple R.

Based on surveying by the Geological Surveying of Canada, Purepoint is confident that the blue areas in the geophysical map are the heat source for the fluids that generated the Patterson corridor deposits.

Note that the Carter corridor lies even closer to that heat source — a fact that makes Purepoint and its major-league partners all the more excited about drilling this area in the near future.

A Wide-Open Set Of Targets

Between the near-term drilling promise of Red Willow, the longer-term promise of Hook Lake and the wealth of blue-sky targets Purepoint controls in the Athabasca Basin, odds of a sizable discovery are better than the vast majority of exploration plays that investors are hearing about now.

The key is that final results and more drilling are on the way in the days just ahead from Red Willow. So there’s still time — but not much of it — to own Purepoint before a big discovery could be made there.

And with a financing underway that could raise up to C$3.5 million, Purepoint will have the resources to test Red Willow and other projects in full.

Exploration stage uranium companies with this much going for them are still rare birds in this sector.

If you believe uranium will continue to rally on the back of global events, now is the time to consider adding Purepoint Uranium to your portfolio.

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To Learn More about Purepoint Uranium