Which Denison's share is Cdn$15.8 million
Denison will manage or participate in a total of 19 exploration programs (including 14 drilling programs), of which Wheeler River will continue to be the primary focus. The total budget for these programs is Cdn$23.1 million of which Denison's share is Cdn$15.8 million.
At Denison's 60% owned Wheeler River project, a 37,000 metre winter and summer drill program is planned along with geophysical surveys at a total cost of Cdn$10.0 million (Denison's share, Cdn$6.0 million). Drilling at Wheeler River will be focused on the Gryphon Zone and will also include targets at Phoenix North and other areas of interest on the property. The Gryphon Zone was discovered during the 2014 winter exploration program and drilling to date has resulted in several high grade intersections. Mineralization at Gryphon is hosted in basement gneisses, ranging from 100 to 250 metres below the sub-Athabasca unconformity. The zone currently measures 350 metres long (along the plunge) by 60 metres wide (across the plunge) and consists of multiple stacked lenses with variable thicknesses that plunge to the northeast and remain open both up and down plunge. The Wheeler River property lies between the McArthur River Mine and Key Lake mill complex in the Athabasca Basin in northern Saskatchewan. Denison's partners at Wheeler River are Cameco Corporation (30%) and JCU (Canada) Exploration Company, Limited (10%).
In addition to the Wheeler River project, other significant winter drill programs are also planned for Mann Lake (30% Denison, 8,000 metres), Crawford Lake (100% Denison, 4,600 metres), Moore Lake (100% Denison, 4,000 metres), Wolly (22.5% Denison, 4,000 metres), Waterbury Lake (60% Denison, 3,300 metres), Bell Lake (100% Denison, 2,600 metres), Hatchet Lake (50% Denison, 2,000 metres), and Murphy Lake (50% Denison, 1,400 metres). The Mann Lake project is operated by Cameco Corp. and the Wolly project is operated by AREVA Resources Canada Inc. All other projects are operated by Denison.