Denison Mines Corp. (TSX:DML) (NYSE Amex:DNN) has reported the assay results from the remaining holes of the summer drill program on the Wheeler River property in Saskatchewan.
Significant results included WR-342 which returned 12.41% U3O8 over 10.0 metres and WR-345 which intersected 5.0 metres grading 16.21% U3O8, both of which were in Zone A of the Phoenix Trend. In Zone B, WR-347 returned 5.44% U3O8 over 6.5 metres and WR-348 intersected 4.87% U3O8 over 7.0 metres. The attached map illustrates the results of the entire 2010 summer drill program.
Chemical analyses were completed by SRC Geoanalytical Laboratories of Saskatoon, Saskatchewan and were a combination of geochemical and assay methods. The assay grades are reported at a 0.05% U3O8 cut-off. No significant results were returned from holes WR-336, WR-338, WR-339, WR-340, WR-350, and WR-352. WR-337 will continue to be reported as equivalent grade due to poor core recovery.
NI 43-101 UPDATE
Denison is also pleased to report that work on a technical report, which is being prepared in accordance with National Instrument 43-101 (NI 43-101), of estimates of the mineral resources at the Phoenix Zone A and B deposits is progressing well. It is expected that these estimates will be announced in the fourth quarter of 2010.
A block model has been constructed, and now that final assays have been received, estimates of mineral resources are being completed using both ID Squared and Kriging routines. Composited assays will be used for all intersections unless core recovery was poor; in that event, probe grades will be used.
The Wheeler River Joint Venture is scheduled to meet in November to plan and approve the 2011 exploration and development program.
The Phoenix deposits are located on the Wheeler River property which is located between the McArthur River Mine and Key Lake mill complex. Denison is the operator and holds a 60% interest in the Wheeler River Property. Cameco Corporation holds a 30% interest and JCU (Canada) Exploration Company, Limited holds the remaining 10% interest.
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.
Source: Denison Mines Corporation