Denison Mines Corp. (TSX:DML,NYSE:DNN) announced it has dramatically increased its resource estimate for the Mutanga uranium project in Zambia after completing drilling for 2011.

As quoted in the press release:

The new Dibwe East Inferred resource, located between the main Mutanga and Dibwe deposits was estimated as of February 24, 2012, in accordance with National Instrument 43-101 (“NI 43-101″), to be 39.8 million tonnes grading 322 ppm eU₃O₈, containing 28.2 million lbs. The Inferred resource is in accordance with CIM Definition Standards and is based on a cut-off grade of 100 ppm eU₃O₈.

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