Denison Mines Corp. (“Denison” or the “Company”) (TSX:DML)(NYSE MKT:DNN)(NYSE American:DNN) today announces that it filed a technical report under Canadian Securities Administrators’ National Instrument 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.
The technical report is posted on the Company’s website at www.denisonmines.com and is available under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.
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” (the “News Release”) 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 cut-off grade of 0.2% U3O8, 61.9 million pounds of U3O8 (1,643,000 tonnes at 1.71% U3O8) in Indicated Mineral Resources, plus 1.9 million pounds of U3O8 (73,000 tonnes 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 of 70.2 million pounds of U3O8above a cut-off grade of 0.8% U3O8 (166,000 tonnes 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 132.1 million pounds of U3O8 (1,809,000 tonnes at 3.3% U3O8), which will be used to support the Pre-Feasibility Study (“PFS”) initiated for the project in July 2016 and expected to be completed during 2018.
The technical report was authored by Mr. Mark Mathisen, C.P.G. of Roscoe Postle Associates Inc. and Ken Reipas, P.Eng of SRK Consulting (Canada) Inc., independent Qualified Persons in accordance with the requirements of NI 43-101.
The technical information contained in this release has been reviewed and approved by Mr. Dale Verran, MSc, P.Geo, Pr.Sci.Nat., Denison’s Vice President, Exploration, who is a Qualified Person in accordance with the requirements of NI 43-101.