Purepoint Intersects 5.6 Metres of Continuous Radioactivity at Nova, Peaking at 53,300 CPS
Purepoint reports elevated radioactivity at the Nova deposit, though no assay results are yet available to confirm the significance of the findings.
Purepoint Uranium Group Inc. (PTU) released the initial results from its summer 2026 drill program at the Dorado joint venture, highlighting hole NV26-11 at the Nova Discovery. The company reported 5.6 metres of continuous radioactivity, peaking at 53,300 CPS. Additional radiometric data included a 1.7-metre interval averaging 31,800 cps and a 1.1-metre core averaging 43,480 cps.
Three other Phase-1 holes—PG26-08, PG26-09, and NV26-10B—returned significantly weaker results, showing either thorium-suggested or narrow anomalous radioactivity. All intersections remain radiometric-only, with laboratory assays pending. The program is currently on a scheduled mid-summer break and is set to resume in two weeks.
Purepoint Uranium Group Inc. (PTU) is a grassroots explorer with no revenue, financing its operations through equity dilution. Its stock acts as a direct bet on exploration success, with drill results evaluated for their potential to re-rate the company’s resource.
The latest release serves as a radiometric-only confirmation of an already-known mineralized trend. It provides no new assay data and does not materially expand the footprint, as the peak counts per second (cps) are lower than previous readings, and the interval length remains unquantified. The market had already anticipated that the Nova zone would yield additional radioactivity, and the summer program was fully financed and widely announced prior to this update.
PTU’s shares have been in a severe bear trend, falling from C$0.80 in October 2025 to C$0.33. The news is unlikely to alter the narrative unless future assays deliver high-grade surprises. Consequently, the release is considered incremental positive rather than material.
Purepoint Uranium Group Inc. (PTU) is a junior explorer focused entirely on the Athabasca Basin in Saskatchewan. Its flagship asset is the Dorado Project, a 50/50 joint venture with IsoEnergy Ltd. that covers more than 98,000 hectares and hosts the Nova discovery, identified in 2025.
Nova has produced assays up to 8.1% U₃O₈ over 0.4 m, and drilling has traced a 1-km structural corridor. The joint venture is well-funded with flow-through money from a C$6M raise in late 2025, in which IsoEnergy participated.
The company also holds the 100%-owned Tabbernor and Russell South projects, but these are early-stage grass-roots targets.
Purepoint’s balance sheet shows C$3.27M in cash as of March 31, 2026, and working capital of C$2.86M. A flow-through commitment of C$2.29M must be spent by December 31, 2026. The company has no revenue and no debt except a modest lease liability. The share count is approximately 79.4M, with a market capitalization of roughly C$26M.