Out of the four target areas tested during the 2014 exploration program, the Geneva target area returned the most encouraging drill results, the company said.

The hole 14RDW-008 intersected 30m chlorite altered graphitic pelitic gneiss that returned an assay of 0.68% U3O8 and 0.54% Cu over 0.3m, and an additional assay of 3.5% Co, 1% Ni and 5.7% as over 0.85m.

At the Mustang target, the drilling confirmed a 50m thick zone of clay alteration associated with hematite considered to be hydrothermal.

The Osprey Northeast and Lasby Lake targets were tested by three drill holes which had no significant alteration or radioactivity, the company said.

Purepoint Uranium Exploration vice president Scott Frostad said: "The Geneva area remains a high priority target now that it has been confirmed as hosting elevated radioactivity, pathfinder metal enrichment and strong hydrothermal basement alteration."

"The best exploration potential at Geneva is considered to be the two parallel EM conductors that lie 300 and 550 metres west of the current drilling and are associated with gravity depressions and low apparent resistivity ‘chimneys’ (LARCs) in the sandstone we hope are responses to hydrothermal alteration."

Red Willow is located 10kms north-east of Rio Tinto’s Roughrider deposit. Rio Tinto notified Purepoint that it will not complete the exercise of its first earn-in at the Red Willow project.