Denison Mines Begins Summer Drill Program at Wheeler Lake and Receives Assays from Gryphone Zone

Denison Mines Corp. (TSX:DML,NYSEMKT:DNN) announced that it has began the summer drilling exploration program at the Wheeler Lake property in the Athabasca Basin. The company also announced that it has received all of the assay results from its winter drill program at Wheeler River.

As quoted in the press release:

Summer drilling has begun on the Wheeler River property. Wheeler River is the primary focus of the Company’s summer program – with 36 drill holes planned, totaling approximately 24,000 meters. Priorities at Wheeler River continue to be the expansion of mineralization at and near the Gryphon zone, the discovery of additional zones of mineralization in the vicinity of the Gryphon zone, and the evaluation of other prospective target areas on the property. The summer program is designed to build on the success of the winter program and to complete the additional drilling required to support the preparation of an initial estimate of mineral resources, at the main Gryphon zone, before the end of the year.

The assay results, including 7.9 percent U3O8 over 4.5 meters in WR-584B and 4.5 percent U3O8 over 4.5 meters in WR-597, confirm the previously released down-hole probe results at or in the vicinity of the Gryphon zone. The Gryphon zone is located three kilometres northwest of the high-grade Phoenix deposit.

Assays from all 26 drill holes completed during the winter drilling program at Wheeler River have now been received. All of the drilling was located in the general area of the Gryphon zone.

As reported previously, much of the drilling was focused on expanding the Gryphon zone of basement hosted uranium mineralization with drill holes that were completed on 50 metre centres. The zone was successfully extended up-plunge, down-plunge, and up-dip on two sections. Consistent with the down-hole probe data, the best assay result was in drill hole WR-584B, which intersected 7.9% U3O8 over 4.5 metres in the up-plunge direction at Gryphon.

David Cates, president and CEO of Denison, commented:

We are excited about the prospect of getting back into the field to complete the additional drilling necessary to support an initial resource estimate for the Gryphon zone, and to test a number of new high priority targets in the area, including mineralization roughly 800 metres to the south of Gryphon at the unconformity. Similarly, we are looking forward to continuing to explore several of our other properties in the Basin, including Crawford Lake and Waterbury Lake where we have a number of high priority targets.

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