{"id":1090714,"date":"2018-12-18T20:57:48","date_gmt":"2018-12-18T20:57:48","guid":{"rendered":"http:\/\/resourceworld.com\/?p=54550"},"modified":"2018-12-18T20:57:48","modified_gmt":"2018-12-18T20:57:48","slug":"denison-to-advance-saskatchewan-uranium-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1090714","title":{"rendered":"Denison to advance Saskatchewan uranium project"},"content":{"rendered":"
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McLean Lake uranium mill in the Athabasca basin of northern Saskatchewan, 22.5%-owned by Denison Mines, (AREVA 70%). Source: Denison Mines Corp.<\/p>\n<\/div>\n

Denison Mines Corp<\/strong>. [DML-TSX; DNN-NYSE American] said Tuesday December 18 that it has elected to advance its Wheeler River uranium project in Saskatchewan following positive pre-feasibility study results.<\/p>\n

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, including its 90%-owned Wheeler River Project, which holds the high-grade Phoenix and Gryphon uranium deposits (on the Wheeler River property).<\/p>\n

Denison also owns a 22.5% interest in the McClean Lake uranium mill which is designed to process high-grade uranium ores. It is also the manager of Uranium Participation Corp., a publicly-traded company which invests in uranium oxide and uranium hexafluoride.<\/p>\n

In keeping with the decision announced on Tuesday, Denison said the Wheeler River Joint Venture has approved a $10.3 million budget for 2019 (100% basis), which is highlighted by plans to initiate the environmental assessment process as well as engineering studies and related programs required to advance the high-grade Phoenix deposit as an in situ recovery mining operation.<\/p>\n

In-situ recovery (ISR) or solution mining involves processing the uranium while it is still in the ground through the injection of catalyzing agents into the ore.<\/p>\n

In situ-recovery is only possible in porous geological formations (like sandstone) which are amenable to such a technique. On average, the capital spend needed to put an ISR uranium project into production is less than 15% of the cost to build a conventional hard-rock uranium mine.<\/p>\n

Denison\u2019s share of the 2019 budget for Wheeler River is $9.3 million, reflecting its 90% ownership interest. The other 10% is held by Japanese company JCU (Canada) Exploration Co. Ltd.<\/p>\n

The pre-feasibility study considers the potential economic merit of co-developing the Phoenix and Gryphon deposits, assuming Phoenix would be designed as an ISR mining operation with associated processing to a finished product occurring at a plant to be built on site at Wheeler River.<\/p>\n

Based on the pre-feasibility study plan, first production from Phoenix is expected in 2024, with the development of the Gryphon deposit to follow with first production projected for 2030.<\/p>\n

Taken together, the project is estimated to have a mine production of 109.4 million pounds of U3<\/sub>O8<\/sub> over a 14-year mine life, with pre-production capital estimated at $322.5 million.<\/p>\n

Wheeler River is the largest undeveloped uranium project in the infrastructure-rich eastern portion of the Athabasca basin region in northern Saskatchewan. It features a combined indicated mineral resource of 132.1 million pounds of U3<\/sub>O8<\/sub> at an average grade of 3.3% U308. On top of that is a combined inferred resource of 3.0 million pounds of U3<\/sub>O8<\/sub> at an average grade of 1.7% U3<\/sub>O8<\/sub>.<\/p>\n

On Tuesday, Denison shares rose 1.61% or $0.01 to 63 cents. The 52-week range is 88 cents and 54 cents.<\/p>\n","protected":false},"excerpt":{"rendered":"

Denison Mines Corp. [DML-TSX; DNN-NYSE American] said Tuesday December 18 that it has elected to advance its Wheeler River uranium project in Saskatchewan following positive pre-feasibility study results. Denison is… Read more »<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[303],"class_list":["post-1090714","post","type-post","status-publish","format-standard","hentry","category-resources","tag-uranium"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1090714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1090714"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1090714\/revisions"}],"predecessor-version":[{"id":1090715,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1090714\/revisions\/1090715"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1090714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1090714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1090714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}