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Denison Mines Announces 2019 Exploration Program Focused on High Potential Properties

Mining News - Published on Fri, 11 Jan 2019

Image Source: Junior Mining Network
Denison Mines Corp announced the details of a disciplined CAD 6 million (Denison's share) exploration program planned for 2019. Exploration activities will be focused on diamond drill testing of targets on the Company's Wheeler River, Waterbury Lake, and Hook-Carter properties - each of which are located in the Athabasca Basin in northern Saskatchewan and are considered to have high potential for a near-term discovery of uranium mineralization. David Cates, President and CEO of Denison, said”With our focus turning to the advancement of our flagship Wheeler River project through the Environmental Assessment process, our strategy continues to involve exploration of our portfolio of high-priority properties - where we have the potential to deliver Denison's next high-grade Athabasca uranium discovery. Our Saskatoon-based exploration team has a track-record of discovery success and has developed a 2019 exploration program that is disciplined and includes a compelling set of drill targets - each with the potential to deliver exciting and meaningful exploration results throughout the year."

2019 Exploration Program Highlights

Wheeler River: As announced in Denison's press release dated December 18,2018, exploration plans for Wheeler River in 2019 include a diamond drilling program of approximately 13,500 metres in 23 holes. The program is designed to evaluate high priority regional target areas by focusing on initial testing of targets at the sub-Athabasca unconformity - which could lead to the discovery of further uranium deposits that may be amenable to the use of the low-cost In-Situ Recovery mining method. Denison recently selected the ISR mining method for application at Wheeler River's high-grade Phoenix deposit, with an estimated operating cost of approximately US$3.33/lb U3O8 (see Denison's press releases dated September 24 and October 30,2018).

Waterbury Lake: The Company's geological interpretation indicates that the regional Midwest structure not only controls the location of the Midwest deposits on the Midwest property (25.17% Denison owned) but also the J Zone and Huskie deposits on the Waterbury Lake property. The program planned for 2019 includes approximately 7,300 metres of diamond drilling in 18 holes and will focus on testing additional high-priority target areas related to the interpreted Midwest structure - including the follow-up of basement-hosted mineralization, discovered during the summer of 2018, where the Midwest structure is interpreted to intersect the GB Trend (see Denison's press release dated September 17,2018).

Hook-Carter: An initial group of reconnaissance drill holes, completed during 2018 along the Patterson Lake Corridor, at Hook-Carter encountered favourable lithologies, structures and hydrothermal alteration analogous to the geological settings observed for the Arrow (Nexgen Energy Ltd.) and Triple R (Fission Uranium Corp.) deposits located 12 and 20 kilometres southwest along strike, respectively. A diamond drilling program, including approximately 3,900 metres in six holes, is planned for 2019 to continue to test high priority geophysical targets, particularly along the eastern edge of the PLC, where geochemical analysis of the 2018 drilling results has returned encouraging results.'

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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