SASKATCHEWAN – Toronto’s Denison Mines Corp. has drilled basement hosted mineralization averaging 17.3% U3O8 over 4.2 metres from the Gryphon zone at the Wheeler River property between Key Lake and McArthur River. The Gryphon zone is 3.0 km northwest of the Phoenix deposit (see CMJ daily news for Feb. 26, 2014).
Hole WR-560 targeted the up-dip extension of mineralization intersected recent 40 metres away. Three other intervals from that hole tested 0.1% U3O8 over 1.3 metres, 0.1% over 4.1 metres, and 0.3% over 2.6 metres. Denison said the mineralization in the Gryphon zone is about 200 metres beneath the sub-Athabasca unconformity and is open in both strike directions and at depth.
The Wheeler River property is owned 60% by Denison, 30% by Cameco Corp. and 10% by JCU (Canada) Exploration.
Details are available at DenisonMines.com.