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Denison Mines Corp.
Summary
| Project: | Waterbury Lake | |
|---|---|---|
| Deposit: | Huskie | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 10/11/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-10-2017: Denison Mines Corp. announces an Exploration/Drilling Update report for its Huskie deposit at the Waterbury Lake project. JV with Korea Waterbury Uranium Ltd. - Drilling results incl. 3.7m @ 9.1% U3O8 from 306.5m. Toronto, ON – October 11, 201 | |
| Resources: | (Resources, Ind.): 0.291Mt @ 2.0% U3O8 for 12.8Mlbs U3O8 contained at J Zone | |
| CP/QP: | [Overall Report]: Dale Verran (Internal) | |
| ABSTRACT: | Toronto, ON – October 11, 2017 Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX, DNN: NYSE MKT) is pleased to report a significant increase in uranium grades for the Huskie zone following receipt of assay results from the Company’s summer 2017 drilling program on the Waterbury Lake project. On average, assay grades (“U3O8”) were 26% higher than the previously reported preliminary radiometric probe grades (“eU3O8”) and grade x thickness (GT) values were 12% higher. Of particular note are the assay results from drill hole WAT17-446A, which returned 9.1% U3O8 over 3.7 metres, including 16.8% U3O8 over 2.0 metres. The assay results confirm high-grades of the basement-hosted Huskie zone which measures approximately 100 metres in strike length and remains open in all directions. The Huskie zone is located approximately 1.5 kilometres to the northeast of the property’s J Zone uranium deposit. Assay results for the summer 2017 drill program are provided in Table 1 as composites using a minimum length of 1 metre. Sampling and assay procedures are described in detail below. A location map of the Huskie zone is provided in Figure 1. Highlight assay result drill intersections are shown on the simplified basement geology map and inclined longitudinal section in Figures 2 and 3 respectively. The Waterbury Lake property consists of multiple claims covering 40,256 hectares, and is located in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan. The property is jointly owned by Denison (64.22%) and Korea Waterbury Uranium Limited Partnership (“KWULP”) (35.78%) through the Waterbury Lake Uranium Limited Partnership (“WLULP”). KWULP consists of a consortium of investors in which Korea Hydro & Nuclear Power (“KHNP”) holds a majority position. KHNP is also a significant shareholder in Denison, holding 58,284,000 common shares of Denison, which represents approximately 10.42% of the Company’s issued and outstanding common shares. | |
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