The firm is planning for the further exploration at the project, after it completed the summer analysis, while its winter’s program demonstrated high-grade mineralization at the Spitfire zone, with 12.9% U3O8 over 0.4m a and .23% U3O8 over 2.8m.

The plan has been reviewed by the JV partners, Areva Resources Canada and Cameca, at the project, which will comprise two drills and around 6,000m of drilling in the coming summer.

According to Purepoint, final approvals will follow the conclusion of the budget processes of each partner.

Purepoint Uranium CEO Chris Frostad said: "Looking back over 20 years of uranium exploration in the Basin, you can count on one hand the number of Junior resource companies who have intersected high-grade mineralization in excess of 10% U3O8."

Drilling will continue along the structural trend towards the northeast following boron enrichment seen in both sandstone and basement rocks, in addition to 300m gap between the two uranium discoveries at Spitfire.

Due to the relatively shallow depth to the unconformity along the prospective Patterson Lake trend, the Hook Lake project is claimed to be one of the highest quality uranium exploration projects in the basin.

Areva and Cameco each own 39.5% stake in the Hook Lake JV project, while Purepoint holds the remaining 21% interest in the project. The project includes nine claims, totaling 28,683ha, situated in the southwestern Athabasca Basin.