Encouraging Uranium Drilling Results At McClean
TORONTO, ONTARIO--Denison Mines Limited announced today that a winter exploration programme at the 22.5% owned McClean Lake mine site in northern Saskatchewan (operated by Cogema Resources Inc.) has discovered new unconformity related uranium mineralization in the Athabasca sandstone. Approximately 20 diamond drill holes have tested structural and geological targets in the Caribou Lake area, approximately two kilometres northwest of the Sue C open pit. Interesting uranium intersections have been returned from vertical holes S-693 and S-700, drilled 10 metres apart, on a section across the assumed geologic strike. These holes were drilled to test, at the unconformity, the up dip vertical projection of a basement graphitic zone. The following table presents the results of the significant intersections at this time. All data is expressed as equivalent uranium grades at a 0.1% cutoff from downhole radiometric probing. Note: 0.1%U = 0.117924% U308
Diamond Drill hole S-693
From (M) To(M) Interval(M) Grade(%U)
101.30 101.80 0.50 0.195
105.80 107.90 2.10 4.402
114.00 114.10 0.10 0.103
115.80 115.90 0.10 0.110
116.10 122.00 5.90 3.908
122.60 122.90 0.30 0.154
Diamond Drill hole S-700
From (M) To(M) Interval(M) Grade(%U)
100.90 110.80 9.90 4.078
111.00 111.70 0.70 0.184
112.40 112.60 0.20 0.118
116.30 119.00 2.70 2.707
119.10 119.20 0.10 0.100
119.30 119.50 0.20 0.106
119.80 120.10 0.30 0.126
120.60 125.60 5.00 8.282
130.20 131.00 0.80 0.197
All data reported herein are based on downhole radiometric probing. This data is subject to confirmation by geochemical analysis on the drill core which will be completed in approximately six weeks.
This exploration programme is at a very early stage in a geologically complex area and no conclusions can be inferred as to continuity, orientation, dimensions, or controls of this mineralization. Further work, including geophysical surveys and diamond drilling, will be carried out on this prospective target before an economic assessment is made.
This information is reported by William C. Kerr, Director, Resource Evaluation, Denison Mines Limited, who is the qualified person as defined in National Instrument 43-101 of the Canadian Securities Administrators.
Contact:
Denison Mines Limited
E. Peter Farmer
President and Chief Executive Officer
Phone: (416) 979-1991 Ext. 231
or
Denison Mines Limited
William C. Kerr
Director, Resource Evaluation
Phone: (416) 979-1991 Ext. 372
www.denisonmines.com |
