Denison Mines(US:DNN) Prnewswireยท2025-07-16 10:30Core Insights - Denison Mines Corp. announced the discovery of additional high-grade mineralization at the Gryphon uranium deposit, with drill hole WR-837AD2 intersecting 2.3 metres at 1.69% eU3O8, including 0.5 metres at 5.48% eU3O8, approximately 40 metres outside the previously estimated mineralized domain [1][2][4] Group 1: Discovery and Drilling Results - The delineation drill program at Gryphon was highly successful, confirming the geological interpretation and intersecting uranium grades in line with expectations [2][3] - Drill hole WR-837AD2 indicates potential expansion of the D1 zone by approximately 40 metres in the down-plunge direction, justifying further follow-up drilling [10] - A total of approximately 12,500 metres of diamond drilling was completed in the 2025 delineation program, confirming the current geological interpretation and supporting the grade-thickness assumptions in the resource block model [12][13] Group 2: Resource Estimates and Economic Potential - Gryphon is estimated to contain Indicated Mineral Resources of 61.9 million pounds U3O8 at an average grade of 1.7% U3O8, with additional resources of 1.9 million pounds U3O8 at an average grade of 1.2% U3O8 [5][6] - The 2018 Pre-Feasibility Study (PFS) assessed Gryphon's potential for underground mining, highlighting robust economics with an estimated after-tax base-case Net Present Value (NPV) of $864.2 million and an internal rate of return (IRR) of 37.6% [7] Group 3: Future Development Plans - The company is developing plans to follow up on the high-grade mineralization results and test other expansion targets [4][10] - Approximately 250 kg of whole-core samples were collected for metallurgical test work to assess uranium recoveries, supporting future project evaluation efforts [18][20] - Geotechnical and hydrogeological data collected from the drilling program will enhance understanding for future mine-design planning [19][20]