SASKATCHEWAN – The recent winter drilling program by Denison Mines of Toronto at Waterbury Lake is extremely promising. The project, 64.22% owned by Denison, was the target of 9,794 metres of drilling in 19 holes in 50-metre step-outs in the Huskie zone.
Drilling at the Waterbury Lake uranium discovery in the Athabasca Basin. (Image: Denison Mines)
The second best result from Waterbury Lake was from hole WAT18-452 that returned 4.5% uranium oxide over 6.0 metres, including 5.8% over 4.5 metres. The same hole also returned 0.57% over 6.3 metres, including 1.9% over 1.0 metre, from another intersection.
Dale Verran, Denison’s VP of exploration, commented, “The high grade mineralization at Huskie appears to be controlled by the intersection of east-west striking faults, associated with the graphitic gneiss unit, and cross-cutting northeast striking faults, possibly related to the regional Midwest structure. This has led to high grade ‘lens stacking’ in a northeast direction as opposed to the lenses being laterally extensive along strike to the east and west.”
The basement-hosted Waterbury Lake uranium deposit was discovered by Denison last year. It is located adjacent to the Midwest uranium mine on the eastern rim of the Athabasca Basin.
Detailed drill results and a discussion of the Huskie zone geology are available in the news release of April 23, 2018, posted at www.DenisonMines.com.