Deni­son drills 3.7 m of 9.1% U3O8 at Water­bury Lake

Stockwatch Daily - - MINES & METALS - Mr. David Cates re­ports

DENI­SON MINES Corp. has seen a sig­nif­i­cant in­crease in ura­nium grades for the Huskie zone fol­low­ing re­ceipt of as­say re­sults from the com­pany’s sum­mer 2017 drilling pro­gram on the Water­bury Lake pro­ject. On av­er­age, as­say grades (tri­u­ra­nium oc­tox­ide) were 26 per cent higher than the pre­vi­ously re­ported pre­lim­i­nary ra­dio­met­ric probe grades (equiv­a­lent tri­u­ra­nium oc­tox­ide) and grade times thick­ness (GT) val­ues were 12 per cent higher. Of par­tic­u­lar note are the as­say re­sults from drill hole WAT17-446A, which re­turned 9.1 per cent U3O8 over 3.7 me­tres, in­clud­ing 16.8 per cent U3O8 over 2.0 me­tres.

The as­say re­sults con­firm high grades of the base­ment-hosted Huskie zone, which mea­sures ap­prox­i­mately 100 me­tres in strike length and re­mains open in all di­rec­tions. The Huskie zone is ap­prox­i­mately 1.5 kilo­me­tres to the north­east of the prop­erty’s J zone ura­nium de­posit.

High­lights:

• 9.1 per cent U3O8 over 3.7 me­tres, in­clud­ing 16.8 per cent U3O8 over 2.0 m, in drill hole WAT17-446A;

• 1.7 per cent U3O8 over 7.5 m, in­clud­ing 8.2 per cent U3O8 over 1.5 m, in drill hole WAT17-449;

• 1.5 per cent U3O8 over 4.5 m, in­clud­ing 3.9 per cent U3O8 over 1.0 m, in drill hole WAT17-450A.

The Huskie zone

Fol­low­ing the high-grade ura­nium in­ter­sec­tion in the first drill hole of the sum­mer 2017 drilling pro­gram, a fur­ther eight holes were com­pleted. This ini­tial drilling cam­paign has al­lowed for the wide-spaced def­i­ni­tion of a zone of en­tirely base­ment-hosted min­er­al­iza­tion with ge­o­log­i­cal fea­tures con­sis­tent with base­ment-hosted de­posits in the Athabasca basin.

The min­er­al­ized zone, which cov­ers the ex­tent of the cur­rent drilling, oc­curs be­tween 50 and 175 me­tres ver­ti­cally be­low the

sub-Athabasca un­con­for­mity (265 and 390 me­tres ver­ti­cally be­low sur­face) and mea­sures ap­prox­i­mately 100 me­tres along strike (cur­rent ex­tent of drilling) and up to 120 me­tres along dip.

As­say re­sults for the sum­mer 2017 drill pro­gram are pro­vided in the ta­ble.

(See DML Ta­ble 1 on page 11)

Dale Ver­ran, vice-pres­i­dent of ex­plo­ration, said: “We are not only im­pressed by the high grades con­firmed by the as­say re­sults, but also the sub­stan­tial thick­nesses of the min­er­al­ized lenses. This, to­gether with the strong al­ter­ation halo sur­round­ing min­er­al­iza­tion and the favourable ge­o­log­i­cal set­ting, sug­gests sig­nif­i­cant ex­plo­ration po­ten­tial. The east-west cor­ri­dor which hosts Huskie is wide open to the west and land based for over one kilo­me­tre. We are ex­cited to get the drills turn­ing again in 2018, in what is ex­pected to be an ag­gres­sive follow-up drilling cam­paign.”

We seek Safe Har­bor.

Karen Bax­ter con­densed this news re­lease (karenb@stock­watch.com).

Wil­liam Robert Den­gler, Brian Dou­glas Edgar, Ron­ald F Hochstein, Kwang Hee Jeong, Lukas Hen­rik Lundin, Wil­liam Archibald Rand, Cather­ine Jean Gar­rett Ste­fan

(DML) Shares: 559,084,402

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