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Denison Mines Excites Analysts with Gryphon Zone Extension

A summer of good news has continued into the fall for Denison Mines (TSX:DML,NYSE:DNN). On Wednesday the company announced that it has extended the Gryphon Zone of its Wheeler River property and has concluded its 2014 summer drilling programs at Wheeler River, Crawford Lake and Bachman Lake.

Denison has now drilled a total of 14,397 meters in 20 holes in the Gryphon Zone. The Gryphon Zone measures 350 meters by 60 meters, with thicknesses that remain open in both plunge directions. The latest results include the promising WR-573D1 hole, which intersected 15.8 percent eU3O8 over 2.3 meters, and WR-574, which intersected 7 percent eU3O8 over 2 meters, followed by 9.8 percent eU3O8 over 2.5 meters.

“We are very encouraged by the Gryphon zone results to date. In a relatively short time we have been able to gain an understanding of the geology surrounding a newly discovered zone of high grade uranium mineralization on our flagship Wheeler River project,” 

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Reader Comments (2)

"Summer of good news?"

Did you know that Denison's share price has FALLEN OFF A CLIFF, and is down almost FORTY PERCENT in the last 25 trading days or so?

I wish this company would keep it's "good news" to itself. Another announcement of "good news" like this, and stock gets de-listed, I predict.

Something awfully fishy is going on with this company, especially when POU has actually been on a steady climb upwards as of late, and NO ONE HAS LOST THEIR jobs as a result! Could you imagine a football of hockey coach with this kind of track record keeping his job for more than eighteen months?

Is it possible some in this company could be led out of their offices in handcufss soon? Just speculating, of course.

October 17, 2014 | Unregistered CommenterJoeBronx

Its true that the stock has suffered recently but over the last 3 years it hasn't traded above the $2.00 level - so $0.98 is about par for this one.

Spot uranium is now up to $36/lb so maybe, just maybe, better times lay ahead for this battered sector.

October 17, 2014 | Registered CommenterUranium Stocks

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