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Denison Mines Corp.
Summary
| Project: | Waterbury Lake | |
|---|---|---|
| Deposit: | Huskie | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 9/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-9-2018: 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. 1m @ 0.43% U3O8 from 262.5m. Toronto, ON – September 17, 201 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dale Verran (Internal) | |
| ABSTRACT: | Toronto, ON – September 17, 2018 Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX, DNN: NYSE American) is pleased to report a new discovery of uranium mineralization on the Company’s Waterbury Lake project, located in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan. Basement-hosted uranium mineralization was intersected in two drill holes, approximately three kilometres northeast of the project’s Huskie zone, returning mineralized assay intervals of 0.43% U3O8 over 1.0 metre (including 0.73% U3O8 over 0.5 metres) in drill hole WAT18-478 and 0.45% U3O8 over 0.5 metre as well as 0.31% U3O8 over 0.5 metre and 0.20% U3O8 over 0.5 metre in drill hole WAT18-479. The two drill holes were completed as a fence and were designed to test the intersection of the interpreted regional Midwest structure with the conductive GB trend. The mineralization is contained within a 60 to 80 metre wide package of highly structured and strongly altered graphitic basement rocks, which remains open along strike to the northwest and southeast. Additional targets exist along the interpreted Midwest structure, notably to the south at the intersection with the uranium-bearing Oban trend. Dale Verran, Denison’s Vice President Exploration, commented, “These drill holes were designed as an initial test of a geological concept – that high-grade uranium mineralization occurs at the intersection of the interpreted regional Midwest structure with cross-cutting, graphite-bearing, structural corridors, as evidenced by the occurrence of the J Zone and Roughrider deposits and the Huskie zone. We are very encouraged by these early results along the GB trend, which has validated the concept by identifying a mineralized system in proximity to the interpreted structural intersection. We look forward to following up on these results with further drilling, and the potential to discover high-grades along strike at GB or along the mineralized Oban trend.” | |
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