Denison Mines Corp: Denison increases NI 43-101 ind resource at Wheeler
DENISON ANNOUNCES 88% INCREASE IN INDICATED RESOURCES AT WHEELER RIVER WITH UPDATED MINERAL RESOURCE ESTIMATE FOR THE GRYPHON DEPOSIT Denison Mines Corp. has made an 88-per-cent increase in the indicated mineral resources estimated for the Wheeler River project. Denison is also pleased to announce it has increased its interest in the Wheeler River project during 2017 from 60 per cent to 63.3 per cent in accordance with an agreement with its Wheeler River joint venture partners, as previously announced on Jan. 10, 2017. 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. Resource update highlights:
- The Gryphon deposit is estimated to contain, above a cut-off grade of 0.2 per cent triuranium octoxide (U3O8), 61.9 million pounds of U3O8 (1,643,000 tonnes at 1.71 per cent U3O8) in indicated mineral resources, plus 1.9 million pounds of U3O8 (73,000 tonnes at 1.18 per cent U3O8) in inferred mineral resources.
- Wheeler River is also host to the Phoenix deposit, which is estimated to include indicated mineral resources of 70.2 million pounds of U3O8 above a cut-off grade of 0.8 per cent U3O8 (166,000 tonnes at 19.1 per cent U3O8), as disclosed in the preliminary economic assessment for the Wheeler River uranium project, Saskatchewan, Canada, dated March 31, 2016, and prepared by Ken Reipas, PEng, of SRK Consulting (Canada) Inc.
- With this update to the resources estimated for the Gryphon deposit, the combined indicated mineral resources estimated for Wheeler River have increased by 88 per cent to 132.1 million pounds U3O8, which will be used to support the prefeasibility study (PFS) initiated for the project in July, 2016, and expected to be completed during 2018.
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