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TORONTO - IsoEnergy Ltd. (NYSE American:ISOU) (TSX:ISO), trading near its 52-week high of $3.35 and showing strong momentum with a 12.4% gain over the past year, and Purepoint Uranium Group Inc. (TSXV:PTU) (OTC:PTUUF) reported Wednesday that drilling at their 50/50 Dorado joint venture in Saskatchewan’s Athabasca Basin has extended high-grade uranium mineralization. InvestingPro analysis indicates IsoEnergy maintains a "GOOD" financial health rating, suggesting solid operational stability.
The latest drill hole, PG25-07A, stepped out approximately 70 meters northeast of previous "Nova Discovery" intercepts at the Q48 target area, returning stronger mineralization with an average of 11,100 counts per second (CPS) across a 14.0-meter interval, including a peak reading of 110,800 CPS.
This new hole successfully extended the Nova Discovery zone by showing that the mineralized structure continues northeast with improving grades and thickness along the trend. The mineralization remains open to the northeast, but wet marsh ground conditions currently prevent further drilling in that direction.
"PG25-07A has successfully extended the Nova Discovery zone by 70 metres and delivered our strongest intercept to date, both in intensity and thickness based on radioactivity," said Chris Frostad, President and CEO of Purepoint Uranium, according to the press release.
The drill rig has now been moved to the Turaco target, located approximately 8 km northeast of the Q48 target within the Dorado project. Up to four holes are planned at Turaco as part of the 5,400-meter drill program approved for 2025.
The Dorado joint venture encompasses more than 98,000 hectares of uranium exploration ground in the Athabasca Basin. The shallow unconformity depths across the property—typically between 30 and 300 meters—allow for efficient drilling and rapid follow-up on results.
All assays from the current program are pending on a rush basis and will be disclosed once available, according to the company statement. With IsoEnergy’s attractive P/E ratio of 5.94 and YTD price return of 9.58%, investors seeking detailed analysis can access additional metrics and expert insights through InvestingPro, including comprehensive financial health indicators and growth projections.
In other recent news, IsoEnergy Ltd. and Purepoint Uranium Group Inc. reported the discovery of uranium mineralization at their Dorado joint venture project in Saskatchewan’s Athabasca Basin. The initial drilling program revealed significant downhole gamma probe readings, indicating promising uranium mineralization at specific depths. This development marks a notable milestone for the joint venture as it progresses in its exploration efforts. Additionally, IsoEnergy announced that shareholders approved all matters at the company’s annual general meeting, which was held virtually. The meeting had a participation rate of 63.95% of the company’s issued and outstanding shares. This approval reflects shareholder confidence in the company’s direction and governance. These recent developments highlight IsoEnergy’s ongoing efforts in both exploration and corporate governance.
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