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Denison Mines Corp.
Summary
| Project: | Wheeler River | |
|---|---|---|
| Deposit: | Gryphon | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 5/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-5-2017: Denison Mines Corp. announces an Exploration/Drilling Update report for its Gryphon deposit at the Wheeler River project. JV - Drilling results incl. 13.5m @ 3.3% U3O8 from 759.2m. Toronto, ON – May 26, 2017 Denison Mines Corp. (“Denison” or th | |
| Resources: | (Resource, Inf.): 834000t @ 2.3% U3O8 for 43.0Mlbs U3O8 contained at Gryphon | |
| CP/QP: | [Overall Report]: Dale Verran (Internal) | |
| ABSTRACT: | Toronto, ON – May 26, 2017 Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX, DNN: NYSE MKT) is pleased to report a significant increase in uranium grades from previously released preliminary radiometric probe results, following the receipt of uranium assays from the Company’s winter 2017 drilling program on the 60% owned Wheeler River project. The winter 2017 exploration program involved a combination of infill drilling at the Gryphon deposit and resource expansion exploration drilling to the northwest of the Gryphon deposit. The Wheeler River project is host to the high-grade Gryphon and Phoenix uranium deposits, and is the largest undeveloped high-grade uranium project in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan. The Company currently reports preliminary radiometric equivalent grades ("eU3O8"), derived from a calibrated downhole total gamma probe, during its exploration programs and subsequently reports definitive assay grades following sampling and geochemical analysis of the mineralized drill core. In November 2015, the Company estimated the Gryphon deposit to contain inferred resources of 43.0 million pounds U3O8 (above a cut-off grade of 0.2% U3O8) based on 834,000 tonnes of mineralization at an average grade of 2.3% U3O8, occurring as a series of stacked lenses on various stratigraphic, faultcontrolled planes within the basement rocks – termed the A, B, and C series lenses. Since then, a significant zone of new mineralization has been discovered and partially delineated to the northwest, termed the D series of lenses, in combination with the discovery of additional mineralization on the A and B planes. Taken together, results from exploration drilling since the beginning of 2016, has defined a mineralized zone that comprises multiple lenses spanning over 300 metres in strike length and remains open. | |
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