SASKATCHEWAN –
Denison Mines of Toronto has released figures for the maiden resource at the Gryphon deposit, part of the Wheeler River uranium project in the Athabasca Basin. Denison has a 60% interest and is the operator of the project. Other partners include
Cameco (30%) and
JDU (Canada) Exploration Co.
The new Gryphon inferred resource, with 43.0 million lb of uranium oxide, added to the Phoenix deposit numbers bring the total amount of contained uranium at Wheeler River to 114.3 million lb of uranium oxide. The resources now stand at:
| Deposit |
Category |
Tonnes |
Grade (%U3O8) |
Million pounds U3O8 |
| Gryphon |
Inferred |
834,000 |
2.3 |
43.0 |
| Phoenix |
Indicated |
166,000 |
19.1 |
70.2 |
| Phoenix |
Inferred |
9,000 |
5.8 |
1.1 |
Denison first drilled the Gryphon deposit in early 2014. Since that time it has completed 35 holes an a 50-metre spacing and the deposit over an area of 450 by 80 metres. The company has begun work on a preliminary economic assessment that will consider simultaneous development of the Gryphon and Phoenix deposits.
See
DenisonMines.com for information about the Gryphon geology and mineralization.
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