Canadian Mining Journal

News

URANIUM: Denison continues to grow Gryphon D lenses at Wheeler River



SASKATCHEWAN – Denison Mines of Toronto continues its successful 16,000-metre winter drilling program at the Gryphon zone on the 60% owned Wheeler River uranium property in the Athabasca Basin. The balance of the project is held by Cameco Corp. (30%) and JCU (Canada) Exploration (10%).

The Gryphon deposit will be developed before the Phoenix deposit at the Wheeler River uranium project.

The results, such as the following, have expanded the Gryphon D series lenses with multiple high grade mineralized intersections (equivalent grades from a down hole radiometric probe):

  • 50% uranium oxide over 1.2 metres, including 9.0% over 1.0 metres in WR-689,
  • 90% uranium oxide over 1.7 metres, including 3.7% over 1.3 metres in WR-689, and
  • 60% uranium oxide over 1.0 metre in WR-689D1.

New high grade mineralization was intersected in hole WR-689 through the planes of the Gryphon B series lenses about 125 metres southwest along strike from hole WR-507D2:

  • 70% uranium oxide over 1.9 metres, including 5.1% over 1.0 metre.

Infill and delineation drilling of the A, B and C series lenses is also part of the 2017 winter program. Before drilling began, the Gryphon deposit had inferred resources of 834,000 tonnes grading 2.3% uranium oxide and containing 43.0 million lb.

The winter drilling program will conclude in mid-April and a summer program will begin shortly afterward.

See the March 29, 2017, news release at www.DenisonMines.com for more detailed results.