SASKATCHEWAN – Toronto's Denison Mines, operator of the Murray Lake project 30 km northwest of the McClean Lake mill, hit uranium mineralization in the first hole of a four-hole program. Hole MP-15-03 returned 0.2% eU3O8 over 6.9 metres from 270.0 to 276.9 metres in the sub-Athabasca unconformity.
Denison said in a release, " Mineralization is associated with a zone of strong sandstone alteration including desilicification and clay over a hematite cap. Basement rocks immediately below the mineralization consist of graphitic pelitic gneisses cut by faults."
The three other holes that were drilled to follow up on MP-15-03 did not intersect mineralization but did encounter significant structure and alteration. The company says this leads it to believe that Murray Lake is a highly prospective system open to the west and likely to the east. No more drilling is planned there this summer
The Murray Lake project is a joint venture of Denison (58.3%) and Anthem Resources (41.7%). More information is available on the website of Anthem's parent company, Eros Resources Corp, at BossPower.ca or ErosResources.com.