These estimates are highly encouraging for the potential of Wheeler River in terms of its high grade and its size.
The estimates, at a cut-off grade of 0.8% U3O8, are based on data from two zones of the Phoenix discovery at Wheeler River.
Denison president and CEO Ron Hochstein said that there are only two other uranium deposits today in the world with average grades similar to Phoenix, being McArthur River and Cigar Lake.
The Wheeler River property, encompassing over 120sq km, is located along strike from the McArthur River deposit.
Denison is the operator and holds a 60% interest in the Wheeler River Property while Cameco and JCU (Canada) Exploration Company hold 30% and 10% interests, respectively.
