Discovered in 2014, the Spitfire Zone is located along the northeast trending Patterson Lake Structural Corridor. Discovery diamond drill holes are summarized from assessment work file MAW00649. Drill hole HK14-09 (83/13, 6402279 N, 251428 E); 315 azimuth/-70 dip; 508 masl elevation; 150.1 m unconformity (UC); 393.0 m end of hole (EOH) with intersections of 0.12% U3O8/20.5 m from 205.5-226.0 m, including 0.32% U3O8/6.2 m from 208.9-215.1 m, in chloritized and sheared semi-pelitic gneiss. Drill hole HK14-11 (83/13, 6402305 N, 251421 E); 315 az./-70 dip; 508 masl; 147.0 m UC; 321.0 m EOH with intersections of 0.11% U3O8/2.0 m from 197.9-199.9 m; and 0.57% U3O8/0.9 m from 210.6-211.5 m both within a graphitic shear zone. Drill hole HK14-17 (83/13, 6402321 N, 251451 E); 260 az./-70 dip; 508 masl; 150.7 m UC; 417.0 m EOH with intersections of 0.12% U3O8/2.7 m from 212.0-214.7 m associated with pervasive limonite and patchy hematite alteration; and 0.09% U3O8/0.5 m from 226.5-227.0 m associated with a chloritic shear zone with weak clay alteration. The Spitfire mineralization occurs within a shallowly dipping shear (~45 degrees) that is associated with a bend in the northeast trending, southeasterly dipping, graphitic and pyritic shear zone. Quartz-rich, semi-pelitic gneiss hosts the mineralized shears that are weakly limonitic and strongly chloritized with disseminated pitchblende occurring along foliation planes. 2015 diamond drill program (MAW01812). Holes with significant intersections include the following. Hole HK15-25 (83/13, 6402404 N, 251638 E; 309 azimuth/-70 dip; 502 masl; 160.1 m UC depth; 464.0 m EOH) with 0.13% U3O8/1.2 m from 253.2-254.4 m; and 0.10% U3O8/4.3 m from 312.7-317.0 m. Hole HK-27 (83/13, 6402352 N, 251689 E; 311/-70; 502 masl; 158.2 m UC; 533.0 m EOH) with 2.23% U3O8/2.8 m from 389.0-391.8 m that includes 12.9% U3O8/0.90 m from 390.4-390.8 m. Hole HK15-33 (83/13, 6402342 N, 251657 E; 311/-70; 501 masl; 167.6 m UC; 542.0 m EOH) with 0.12% U3O8/0.90 m from 304.8-305.7 m; and 0.18% U3O8/6.8 m from 354.6-361.4 m that includes 0.47% U3O8/1.3 m from 360.1-361.4 m. The 2016 Hook Lake JV winter exploration program completed 21 drill holes (HK16-34 to -54) for a total of 8,508 metres being drilled. Within the Spitfire area 12 holes were completed totaling 5,045 metres while 9 holes tested other conductors within the Patterson Structural Corridor totaling 3,343 metres. The Upper Spitfire zone remained open north of Hole HK16-47 (0.88% U3O8 over 20.1 metres), south of Hole HK16-43 (4.07% U3O8 over 3.1 metres, 1.19% U3O8 over 4.7 metres and 0.50% U3O8 over 10.6 metres). A highlight of the drill program was hole HK16-53 that intersected 10.0 metres of 10.3% U3O8, including 1.3 metres of 53.5% U3O8. Drilling of the Spitfire zone has now defined three distinct mineralized targets, the Upper Spitfire, Lower Spitfire and Spitfire South. Five holes have been completed at the Spitfire Zone since November, 2017 (January 18, 2018 news release). The Spitfire high-grade uranium mineralization has been correlated with the Harpoon discovery and an updated long section and plan map are available at http://www.purepoint.ca/uraniumprojects/hooklake.php, Three drill holes have successfully extended the Spitfire Zone an additional 85 metres northeast of previous mineralization, namely HK16-55 that intersected 9.5 metres at 2.9% U3O8. HK17-79 was collared as a 45-metre step-out NE from HK16-55 and returned 0.61% eU3O8 over 5.5 metres from 273.5 to 279.0 metres. HK17-80 was a follow-up to HK-79 testing 40 metres along strike to the NE and returned 0.62% eU3O8 over 8.0 metres from 254.1 to 262.1 metres. Hole HK18-82 then targeted a shallower depth than HK17-79 and 80 and returned 1.04% eU3O8 over 14.6 metres from 259.2 to 273.8 metres that included 8.7% eU3O8 over 1.3 metres (http://purepoint.ca/news/?id=537).

MAW00649; MAW01862; MAW02129

DATE    |     RESERVES LISTED   |  COMMENTS