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Denison Mines Corp.
Summary
| Project: | Waterbury Lake | |
|---|---|---|
| Deposit: | Huskie | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 12/21/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2018: Denison Mines Corp. announces a Resource Estimation report for its Huskie deposit at the Waterbury Lake project. Updated mineral resource estimate at Huskie deposit. The Waterbury Lake property is located within the eastern part of the Athabas | |
| Resources: | (Resource, Inf.): 268Kt @ 0.96% U3O8 at Huskie | |
| CP/QP: | [Resources]: Oy Leuangthong, Cliff Revering (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | The Waterbury Lake property is located within the eastern part of the Athabasca Basin in Northern Saskatchewan. Points North Landing, a privately owned service centre with accommodations and an airfield, is located near the eastern edge of the property. Several uranium deposits are located nearby including the Roughrider, McClean Lake, Midwest, and Midwest A deposits. The J Zone and Huskie uranium deposits are located within the property near its eastern edge. The Waterbury Lake property is owned by Denison Mines Corp. (“Denison”) and Korea Waterbury Uranium Limited Partnership (“KWULP”), and Denison is the operator of the project. As of October 31, 2018 Denison held a 65.92% ownership interest and KWULP held a 34.06% ownership interest. The purpose of this report is to support the disclosure of the maiden mineral resource estimate for the Huskie deposit, discovered by Denison in 2017. The mineral resource estimate for the J Zone deposit remains unchanged from the mineral resource statement provided in the NI 43-101 technical report titled “Technical Report on the Mineral Resource Estimate on the J Zone Uranium Deposit, Waterbury Lake Property Located in the Athabasca Basin, Northern Saskatchewan”, dated September 6th, 2013, prepared by Allan Armitage, Ph.D., P.Geo, and Alan Sexton, M.Sc., P.Geo of GeoVector Management Inc. Following the discovery in 2017 and subsequent definition drilling in 2017 and 2018 of the Huskie deposit, Denison internally completed a maiden mineral resource estimate for the Huskie basement-hosted uranium deposit, which was reviewed and audited by SRK Consulting (Canada) Inc. ('SRK') in accordance with NI 43-101 and CIM Definitions (2014). The Huskie deposit mineral resource estimate included data from 28 drill holes at Huskie at a spacing of approximately 50 metres x 50 metres to define the deposit over a strike length of approximately 210 metres and dip length of up to 215 metres. The deposit has been interpreted to include three parallel, stacked lenses of mineralization (Huskie 1, Huskie 2 and Huskie 3) which vary in true thickness between approximately 1 and 7 metres. The result of the 2017 and 2018 drilling campaigns at Huskie is an Inferred mineral resource estimate of 5,687,000 lbs U3O8 (above a cut-off grade of 0.1% U3O8) based on 268,000 tonnes of mineralization at an average grade of 0.96% U3O8. | |
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