Denison Mines has intersected more high-grade uranium mineralization near the Gryphon zone at its 60-percent-owned Wheeler River property.
The action in Northern Saskatchewan never seems to let up. Following last week’s big news from NexGen Energy (TSXV:NXE), Denison Mines (TSX:DML,NYSEMKT:DNN) announced Thursday that it’s intersected more high-grade uranium mineralization near the Gryphon zone at its 60-percent-owned Wheeler River property.
Hole WR-641 intersected 3.9 percent eU3O8 over 9.2 meters, including 6.7 percent eU3O8 over 5.3 meters from 721.1 meters in depth. The hole is located 160 meters northwest of Gryphon, and 100 meters northwest and along the same section line as hole WR-633D1, which also contains high-grade mineralization.
The results from hole WR-641 are encouraging for the company because they represent one of the best basement rock intercepts seen at Wheeler River since the discovery of Gryphon in 2014. Overall, results from the company’s winter program suggest that Denison may be looking at the down-plunge extent of a series of lenses found at Gryphon.
In a note to clients, Colin Healy, an analyst at Haywood Securities, stated, “[t]his area [north of Gryphon] continues to show potential to evolve into another significant deposit at the Wheeler River project, which is currently the subject of an ongoing Preliminary Economic Assessment (PEA), expected to be published within the next two months.”
Investors will recall that 2015 was a good year for Denison, which achieved a key milestone at Wheeler River with the completion of an initial mineral resource estimate for Gryphon. The deposit is estimated to host an inferred mineral resource of 43 million pounds of U3O8 at an average grade of 2.3 percent U3O8. Combined with the company’s high-grade Phoenix deposit, Wheeler River is estimated to contain an indicated mineral resource of 70.2 million pounds U3O8 at an average grade of 19.1 percent U3O8, as well as an inferred resource totaling 44.1 million pounds U3O8 at an average grade of 2.34 percent U3O8.
The maiden resource for Gryphon includes A, B and C series lenses, which according to the company all occur hanging wall to the basal pegmatite unit. The company is about halfway through its winter drill program, meaning that there are still plenty of opportunities to see further positive results. Denison’s forthcoming PEA will not include any of the current drill work on the new area north of Gryphon, as the study is currently underway and the zone still requires significant follow-up drilling to determine its full potential.
However, as Healy states in his note, “any additional significant resources in close proximity to the Gryphon zone could potentially later serve to enhance the economics of the first iteration of the forthcoming PEA.”
Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any of the companies mentioned in this article.
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Generation Uranium offers investors high-leverage exposure to a potential major discovery in Canada’s underexplored and resource-rich Thelon Basin, led by a management team with a proven track record of securing high-value exits.
Overview
Generation Uranium (CSE:GEN, OTCQB:GENR, FRA:W85) is a Canadian exploration company focused on wealth creation through discovery within the uranium sector. The company’s primary strategy is to build a high-caliber exploration team that can rapidly test and drill high-potential targets, de-risking projects for potential takeover by larger producers. Currently centered in the prolific Thelon and Angikuni Basins of Nunavut, the company is also actively evaluating additional project acquisitions in the Athabasca Basin to expand its portfolio.

The company is led by a veteran management team with nearly 30 years of experience in mineral development. CEO Michael Collins has a significant track record of building and exiting public companies, including the co-founding of Bluerock Resources, a conventional uranium producer during the 2000-2008 cycle. This expertise is paired with a focused business model that leverages modern geophysical targeting to accelerate exploration timelines and reduce costs, ensuring the company can deliver results quickly in a bullish uranium market.
Company Highlights
- Strategic Location in a Premier Uranium District: The flagship Yath Project is located in Nunavut’s Thelon Basin, contiguous to ATHA Energy’s Angilak Project, which hosts the high-grade Lac 50 deposit.
- High-Grade Discovery Potential: Historical surface sampling at the Yath Project has yielded exceptional uranium grades, including boulders testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
- Expert Management with Exit Experience: Led by CEO Michael Collins, the team has decades of experience in mineral exploration and a history of co-founding companies that were later acquired, such as Prime Mining and Nuclear Fuels.
- Low-Cost, Rapid Exploration Strategy: By leveraging modern geophysics and extensive historical data, the company aims for a "short road to discovery," de-risking projects quickly to maximize shareholder value.
- Bullish Market Fundamentals: Generation Uranium is well-positioned to meet the growing global demand for carbon-free nuclear power, supported by a projected supply deficit and increased interest from major tech companies seeking clean energy.
Key Project
Yath Project - Nunavut, Canada
The Yath Project is Generation Uranium’s flagship project. This 100 percent owned property covers about 120 square kilometers within the underexplored Thelon Basin in Nunavut, Canada. The project is located where the Yathkyed and Angikuni sub-basins meet, which is a region known globally for high-grade uranium potential. It sits directly along the same trend as the Angilak Project owned by ATHA Energy (TSXV:SASK, OTCQB:SASFK, FWB:XSU.F), which contains the Lac 50 deposit, one of the highest-grade uranium resources found outside of the Athabasca Basin with a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69 percent U3O8.

The Yath Project is contiguous to the Lac 50 trend and is crossed by several regional faults and basin boundaries. Past exploration work has already identified high priority targets, while surface sampling in the area has produced uranium grades from boulders, with some testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
The company has commenced its initial field program at the site, set to define and rank drill targets. Historic showings will be combined with new anomalies from the MMT geophysics survey, preparing the project for an anticipated drill permit.
Management Team
Michael Collins - CEO & Director
Michael Collins is a professional geoscientist with nearly 30 years of experience in mineral exploration. He has co-founded several public companies, including Exploits Discovery, Prime Mining (acquired in 2025), and Nuclear Fuels (merged with Premier American Uranium in 2025). He is also currently a director of First Atlantic Nickel.
Christoph Bruening - Director
Christoph Bruening is the founder and managing partner of Value Relations GmbH, a full-service investor relations and public relations agency in Frankfurt with over 25 years of excellence, focusing on mining, exploration, biotech and health care. In addition, he has listed over 600 companies on the Frankfurt Stock Exchange and is a speaker and author of several publications, including on rare earths and uranium.
Dallas Miller - Director
Dallas Miller has been working within the international mining industry for over 15 years, working with BHP and Santos Ltd. He has experience on the ground from an operational standpoint, as well as being an integral part of raising millions of dollars in capital funding for both private and public companies in recent years.
Roger Leschuk - VP Corporate Development
Roger Leschuk has been in corporate management for over two decades, with the past 15 years dedicated to corporate development and investor relations. He has experience participating in and assisting with mergers and acquisitions, and was an investment advisor for various services such as stocks, mutual funds and tax-sheltered investments. He is a Chartered Investment Manager and a Fellow of the Canadian Securities Institute.
Monty Sutton - CFO
Monty Sutton brings over 35 years of experience in public markets and corporate governance. He previously served as CFO for Nuclear Fuels from its IPO through its acquisition.
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