Resource News

Denison Mines (TSX:DML) reported the completion of summer exploration at its Wheeler River property in Saskatchewan’s Athabasca Basin. The company expects to complete a resource estimate for Wheeler River before the end of 2015.

Denison Mines (TSX:DML) reported the completion of summer exploration at its Wheeler River property in Saskatchewan’s Athabasca Basin. The company expects to complete a resource estimate for Wheeler River before the end of 2015.
As quoted in the press release:

A total of 24,468 metres of drilling was completed in 34 drill holes during the summer program at Denison’s 60% owned Wheeler River project. Seven of the drill holes were designed to complete the 50 metre x 50 metre spaced drill pattern at Gryphon and outline the extent of the mineralization in the down-dip and down-plunge directions. The best result was in drill hole WR-604, for which chemical assay data is now available. WR-604 intersected 6.3% U3O8 over 5.5 metres (779.0 to 784.5m), followed by 11.6% U3O8 over 1.0 metres (790.0 to 791.0m) – extending the zone of mineralization approximately 50 metres in the down-dip direction. The Gryphon Zone of mineralization is now approximately 450 metres long in the down-plunge direction and 80 metres wide in the across-plunge direction. Thickness is variable due to the stacked nature of the lenses.
With the receipt of the final chemical assays from the drilling completed at the Gryphon Zone, the Company is working towards the completion of updated mineral resource estimates for the Wheeler River property before the end of 2015. The updated technical report, which is being prepared in accordance with National Instrument 43-101, will include a mineral resource estimate at Gryphon, in addition to the Phoenix Deposit which is located roughly 3 kilometres to the southwest of Gryphon. The Phoenix Deposit is currently estimated to contain an indicated mineral resource of 70.2M lbs U3O8 at a grade of 19.13% and an inferred mineral resource of 1.1M lbs U3O8 at a grade of 5.8%.

Click here for the full press release.

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