Denison Mines Corp. reported the discovery of high-grade uranium mineralization 600 metres and 1 kilometre to the northeast of the Gryphon uranium deposit.
Denison Mines Corp. (TSX:DML) reported the discovery of high-grade uranium mineralization 600 metres and 1 kilometre to the northeast of the Gryphon uranium deposit, on the company’s 63.3 percent owned Wheeler River project, in northern Saskatchewan.
As quoted in the press release:
The winter drilling program is now complete, resulting in a total of 21,153 metres drilled in 29 diamond drill holes. The program was focused on step-out drilling along strike of the Gryphon deposit and reconnaissance level regional exploration along the K-North and K-West trend. The winter 2018 drilling results reported in this release are preliminary, equivalent uranium (“eU3O8”) results derived from a calibrated downhole probe. Drill core samples have been collected and submitted for chemical assay, results of which will be reported when available.
Highlights are as follows:
- 0.55% eU3O8 over 5.6 metres, located 600 metres northeast of Gryphon, including2.3% eU3O8 over 1.0 metre in drill hole WR-704; and
- 0.94% eU3O8 over 3.5 metres, located 1 kilometre northeast of Gryphon, including2.7% eU3O8 over 1.0 metre in drill hole WR-710D1.
- Intercepts of upper basement mineralization extending the E series lenses to the northeast:
- 2.5% eU3O8 over 1.3 metres in drill hole WR-696;
- 0.86% eU3O8 over 1.9 metres in drill hole WR-709; and
- 0.38% eU3O8 over 2.8 metres in drill hole WR-702.
- Intercept of mineralization, 100 metres along strike to the northeast of the previous down-plunge extent of A series mineralization for the Gryphon deposit, including:
- 0.82% eU3O8 over 3.9 metres, including2.1% eU3O8 over 1.0 metre in drill hole WR-698
Dale Verran, vice president exploration of Denison, commented:
The last time Denison undertook any significant regional exploration on Wheeler was in 2014, which resulted in the discovery of Gryphon. The initiation of regional exploration once again in 2018 has been met with positive results delivering high-grade intercepts along the K-North trend and identifying K-West as a significant fertile trend. Furthermore, the initial step-outs from Gryphon confirm potential to continue to expand the mineral resource. We look forward to the summer drilling program to continue to test regional targets across the Wheeler River property and commence follow-up activities where warranted.