The property is located about 30km northwest of the McClean Lake mill in the Athabasca Basin in northern Saskatchewan.
Denison Mines operates and holds a 58.94% stake in the project. Eros Resources’ subsidiary Anthem Resources owns the remaining 41.06% interest.
The first drill hole of a planned four drill hole program intersected a new zone of uranium mineralization.
Drill hole MP-15-03 intersected 0.2% eU3O8 over 6.9m at the sub-Athabasca unconformity. Mineralization is related with a zone of sandstone alteration including desilicification and clay over a hematite cap.
Three further drill holes have been finished to follow up on the mineralization in drill hole MP-15-03.
Anthem Resources has decided to not to contribute to the 2015 program. The company’s interest will therefore be reduced to about 32%.
Apart from the uranium mineralization discovery at the Murphy Lake property, Denison Mines has completed the definition drilling component of the summer exploration program at the Gryphon Zone on the Wheeler River property.
The company completed a total of 10,504m of drilling in 12 drill holes at the property.
