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Message: Discovers Second Large Area High Grade Uranium Mineralization at Wheeler River
| April 2, 2009 |
| Denison Discovers Second Large Area of High Grade Uranium Mineralization at Wheeler River |
| TORONTO, ONTARIO--(Marketwire - April 2, 2009) - Denison Mines Corp. (TSX:DML) (NYSE Alternext US:DNN) (NYSE Amex:DNN.A) ("Denison" or the "Company") is pleased to announce the discovery of additional high grade uranium mineralization approximately 300 metres to the northeast from the initial high-grade zone discovered and reported earlier in the winter, at the Wheeler River project in northern Saskatchewan. Hole WR-267 returned 15.5% eU3O8 over 2.9 metres from a depth of 408.2 metres. Hole WR-268 located 40 metres to the southwest returned 12.8% eU3O8 over 2.4 metres from 409.5 metres and 2.7% eU3O8 over 0.5 metres from 416.9 metres. The last hole of the winter season, Hole WR-269, was located 50 metres northeast of WR-267 and returned 9.8% eU3O8 over 1.5 metres from 407.8 metres and 2.1% over 1.1 m from 416.0 m. The strike length of the uranium mineralization associated with these three drill holes is defined to date over a length of 90 metres and is completely untested to the northeast and open along strike to the southwest. Our technical staff believes that this new area may represent an extension of the initial high grade zone as the area between the zones has not been adequately drill tested. Please see attached map. All three holes were spotted at a -80 dip and intersected massive and semi-massive pitchblende. In Hole WR-268 this mineralization was entirely hosted in the basement beneath the unconformity. This project is located in the rich Athabasca Basin near the MacArthur River mine and the mineralization represents one of the most significant new discoveries in the Athabasca Basin in several years. This discovery has many geological similarities to the McArthur River mineralization, but at a shallower depth. The results are reported at a 1.0% eU3O8 cutoff grade utilizing a downhole probe. The equipment, on which these downhole probe grades were based, is the same as that used for previously reported holes WR-258 and WR-259. As reported previously, confirmatory split core geochemical uranium assay grades were on average 6.0% U3O8 higher than the equivalent probe grades. All drill core has been split and will be assayed as soon as is reasonably possible. The drilling in 2008 and 2009 has been focused on a total strike length of 660 metres. Approximately half of this zone has not as yet been drill tested and is strongly mineralized at both its northeast and southwest extremities. Much further potential remains outside the zone along strike. The winter drill program is now complete and Denison will recommend to the Joint Venture a summer program with a triple focus on infill drilling the high-grade zone discovered so far, further testing along strike to extend the known deposits and exploration for further zones. The Wheeler River project is a joint venture among Denison (60%), Cameco Corp. (30%) and JCU (Canada) Exploration Company, Limited (10%). The technical information contained in this press release related to the above described exploration activities is reported and verified by William C. Kerr, Denison's Vice President, Exploration, who is a qualified person as defined by NI 43-101. For a description of the quality assurance program and quality control measures applied by Denison, please see Denison's Annual Information Form filed under the Company's profile on March 31, 2009 on the SEDAR website. About Denison Denison Mines Corp. is a premier intermediate uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four conventional uranium mills operating in North America today. Denison also has a strong exploration and development portfolio with large land positions in the United States, Canada, Mongolia and Zambia. |
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