Denison drills 3.7 m of 9.1% U3O8 at Waterbury Lake
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.
• 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 (email@example.com).
William Robert Dengler, Brian Douglas Edgar, Ronald F Hochstein, Kwang Hee Jeong, Lukas Henrik Lundin, William Archibald Rand, Catherine Jean Garrett Stefan
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