Denison Mines Corp. (TSX:DML, NYSE MKT:DNN) announced the discovery of a new high-grade uranium intersection near the Gryphon deposit on Denison’s 60% owned Wheeler River property in Northern Saskatchewan. Drill hole WR-633D1, located approximately 100 meters north of the Gryphon deposit, intersected approximately 11 meters of basement-hosted uranium mineralization including intervals of 5.7% eU3O8 over 1.0 meter and 6.3% eU3O8 over 1.7 meters.
According to the company’s press release:
In late 2015, Denison reported a significant increase in the estimated mineral resources on the Wheeler River property. The initial estimate for the Gryphon Deposit added inferred mineral resources of 43.0 million pounds U3O8 at a grade of 2.3% U3O8 to 70.2 million pounds U3O8 of indicated mineral resources grading 19.1% U3O8 at the Phoenix deposit. The Gryphon deposit is basement-hosted and consists of a set of parallel, stacked, northeast plunging lenses that are broadly conformable with the basement stratigraphy. Four groups of lenses have been interpreted to date, namely the A, B, C and D series, based on their position relative to the different basement stratigraphic units. The estimated mineral resources contained in the Gryphon deposit include only the results from the A, B and C series lenses. The D series lenses were excluded as there was insufficient drilling completed at the time of the resource estimate.
Click here to view the full press release.
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