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Denison Mines Corp.
Summary
| Project: | Wheeler River | |
|---|---|---|
| Deposit: | Gryphon | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 11/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 17-11-2016: Denison Mines Corp. announces an Exploration/Drilling Update report for its Gryphon deposit at the Wheeler River project. Drilling results incl. 4.5m @ 6.97% eU3O8 from 746.0m. Toronto, ON – November 17, 2016 Denison Mines Corp. (“Denison” or | |
| Resources: | (Resource, Inf.): 834000t @ 2.3% U3O8 for 43.0Mlbs U3O8 contained at Gryphon | |
| CP/QP: | [Overall Report]: Dale Verran (Internal) | |
| ABSTRACT: | Toronto, ON – November 17, 2016 Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX, DNN: NYSE MKT) is pleased to report increased grades with the receipt of uranium assay results from the summer 2016 exploration drilling program on its 60% owned Wheeler River property, located in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan. As with previous assays, the assay results represent an overall increase in grade compared with previously reported radiometric equivalent U3O8 (“eU3O8”) results derived from a calibrated down-hole gamma probe. Significantly increased grades were reported for two key drill results, located outside of the area included in the NI 43-101 mineral resource estimate for the Gryphon deposit, which form priority areas for potential resource expansion. Assay results from the five initial Gryphon infill and delineation holes also showed a significant increase in grades from 0.93% eU3O8 over 14.1 metres to 1.37% U3O8 over 14.5 metres in drill hole WR-668, and 1.51% eU3O8 over 14.4 metres to 2.49% U3O8 over 12.5 metres in drill hole WR-668D2. These holes form part of a drilling program designed to upgrade the NI 43-101 mineral resource estimate for the Gryphon deposit from an inferred to indicated level of confidence. Denison’s Vice President Exploration, Dale Verran, commented, “Although we anticipate the high grades from downhole probe results to increase following the assay of core samples, it is especially encouraging to see these higher grade assay results in areas where mineralization remains open. While assays for the infill holes confirm the high-grade nature of the Gryphon deposit itself, assays from our exploration holes continue to demonstrate the growing footprint of mineralization and the potential for resource expansion. Drilling results to date indicate that the Gryphon deposit remains open in numerous directions and work is underway refining drill targets for 2017.” | |
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