Denison files Technical Report for Wheeler River uranium

Posted by Daniel Gleeson on 17th March 2018

Denison Mines Corp has filed a technical report under NI 43-101 Standard of Disclosure for Mineral Projects for its 63.3% owned Wheeler River project in Saskatchewan titled Technical Report with an Updated Mineral Resource Estimate for the Wheeler River Property, Northern Saskatchewan, Canada dated March 15, 2018 with an effective date of March 9, 2018.

This report supports the disclosure made by the Company in its news release dated January 31, 2018, Denison announces 88% increase in indicated resources at Wheeler River with updated mineral resource estimate for the Gryphon deposit and there are no material differences in the technical report from the information disclosed in the News Release.

As outlined in the News Release, the updated mineral resource estimate for Wheeler River is highlighted by a significant increase in the estimated mineral resources for the property’s basement-hosted Gryphon uranium deposit and an overall 88% increase in the Indicated Mineral Resources estimated for the Wheeler River project. Resource Update Highlights:

  • The Gryphon deposit is estimated to contain, above a cutoff grade of 0.2% U3O8,  1,643,000 t at 1.71% U3O8 in Indicated Mineral Resources, plus 73,000 t at 1.18% U3O8 in Inferred Mineral Resources
  • Wheeler River is also host to the Phoenix deposit, which is estimated to include Indicated Mineral Resources above a cutoff grade of 0.8% U3O8 of166,000 t at 19.1% U3O8
  • With this update to the resources estimated for the Gryphon deposit, the combined Indicated Mineral Resources estimated for Wheeler River have increased by 88% to 1,809,000 t at 3.3% U3O8), which will be used to support the PFS initiated for the project in July 2016 and expected to be completed during 2018.

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its 63.3% owned Wheeler River project, which hosts the high-grade Phoenix and Gryphon uranium deposits, Denison’s exploration portfolio consists of numerous projects covering approximately 351,000 ha in the Athabasca Basin region, including approximately 316,000 ha in the infrastructure rich eastern portion of the Athabasca Basin. Denison’s interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture (MLJV), which includes several uranium deposits and the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest and Midwest A deposits, and a 64.22% interest in the J Zone deposit and Huskie discovery on the Waterbury Lake property. Each of Midwest, Midwest A, J Zone and Huskie are located within 20 km of the McClean Lake mill.