Purepoint Uranium Group Inc. announced the results of its winter drill program at the Hook Lake Joint Venture at the Carter Corridor. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%) and lies on trend with high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit. Highlights: Diamond drill hole CRT23-05 returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a 15 metre graphitic shear zone (318 to 333m) below the unconformity (283m); In addition, the CRT23-05 mineralization was found to be surrounded by a significant boron halo returning greater than 800 ppm B over 35 metres (305-340m); Results were presented to the Joint Venture partners on May 1, 2023 and plans for follow up drilling are now being developed.

The discovery of uranium deposits in the Athabasca Basin using boron as a pathfinder was first made at the Key Lake deposit in the late 1970s by a joint venture between Uranerz Exploration and Mining, Saskatchewan Mining Development Corporation, and Eldorado Nuclear, and is one of the largest and highest-grade uranium deposits in the world. Boron enrichment is prominent in the sandstone column above the McArthur River uranium deposit, which is the world's largest high-grade uranium deposit. The Millennium deposit, a basement hosted deposit, was discovered in 2000 by Cameco Corporation and partners, that was aided by using boron geochemistry as a vectoring tool.

The recognition of the extent of the sandstone and basement alteration combined with anomalous uranium and boron chemistry was key in prioritizing the southern portion of the B1 conductive trend, which ultimately led to this discovery.