Denison Completes Definitive Drilling at Gryphon; Identifies Mineralization at Murphy Lake

Denison Mines Corp. (TSX:DML,NYSEMKT:DNN) announced the completion of the definitive drilling of the summer exploration program at the Gryphon Zone at its Wheeler River property. The company also reported the discover of uranium mineralization at the Murphy Lake property.
As quoted in the press release:

A total of 10,504 metres of drilling has been completed in 12 drill holes at Wheeler River as part of the Company’s summer exploration program. . Eight of the drill holes were at the Gryphon Zone, which is located 3 kilometres northwest of the Phoenix Deposit. The drill holes were designed to complete a 50 metre x 50 metre spaced drill pattern at the Gryphon Zone and to determine the extent of the mineralization in the down-dip and down-plunge directions. The best result was in drill hole WR-604, which intersected 3.8% eU₃O₈ over 4.7 metres (779.2 to 783.9 metres), followed by 8.4% eU₃O₈ over 1.1 metres (790.0 to 791.1 metres), which extended mineralization in the down-dip direction. Mineralization at the Gryphon Zone occurs in basement rocks, approximately 100 metres to 350 metres below the sub-Athabasca unconformity, and consists of multiple stacked high grade lenses that plunge toward the northeast.
At the Murphy Lake property, the first drill hole of a planned four drill hole program successfully intersected a new zone of uranium mineralization. Drill hole MP-15-03 intersected 0.2% eU₃O₈ over 6.9 metres (270.0 to 276.9 metres) at the sub-Athabasca unconformity. Mineralization is associated with a zone of strong sandstone alteration including desilicification and clay over a hematite cap. Basement rocks immediately below the mineralization consist of graphitic pelitic gneisses cut by faults. The target was an east-west oriented resistivity low anomaly that was previously tested by only one drill hole. That drill hole was located 400 metres to the east and was flagged for follow-up due to significant sandstone alteration above graphitic basement rocks. A location map for the Murphy Lake property is attached as Figure 2.

David Cates, president and CEO of Denison, commented:

We are pleased to have achieved this milestone at Gryphon just over a year after discovery of the zone, and look forward to the completion of an initial mineral resource estimate in the coming months. Additionally, the discovery of uranium mineralization at Murphy Lake provides further evidence of the prospectivity of Denison’s land package in the eastern Athabasca basin.

Click here to read the full Denison Mines Corp. (TSX:DML,NYSEMKT:DNN) press release.