Canadian Mining Journal


URANIUM: Denison drills good grades near Gryphon deposit

SASKATCHEWAN – Toronto’s Denison Mines Corp. continues to drill at the Wheeler River property in the Athabasca Basin, and the high grade holes keep coming. The latest was 3.9% eU3O8 over 9.2 metres including 6.7% eU3O8 over 5.43 metres about 160 metres northwest of the Gryphon deposit. Grades were estimated from a total gamma down hole probe.

The Gryphon deposit is basement hosted and estimated to contain inferred resources of 43.0 million lb U3O8in mineralization averaging 2.3% U3O8. Also on the Wheeler River property and 3 km southeast of the Gryphon deposit is the Phoenix deposit, estimated to contain 70.2 million lb U3O8 at a grade of 19.1% U3O8, also as inferred resources.

Denison says follow up drilling from the recent high grade holes has yet to be done, although the mineralization is open in both plunge directions.

Denison ( is the operator and 60% owner of the Wheeler River project. Cameco Corp. (30%) and JCU (Canada) Exploration (10%) own the balance.

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