Denison Mines Corporation introduced that it has accomplished the beforehand introduced transaction with Cameco Corporation, whereby Denison has acquired all of Cameco’s minority curiosity within the Wheeler River Uranium Project. Denison now holds a 90% collaborating curiosity within the Project (instantly and not directly by means of its subsidiary Denison Mines Inc.). View PDF model.
Denison’s three way partnership accomplice within the Project, JCU Exploration Company, waived its proper of first refusal to professional rata participation within the Transaction, and retained its 10% collaborating curiosity within the Project.
Denison acquired Cameco’s roughly 24% curiosity within the Wheeler River Joint Venture, in trade for the issuance of 24,615,000 frequent shares of Denison, representing roughly four.2% of the Company’s issued and excellent frequent shares.
Wheeler River is the most important undeveloped uranium undertaking within the infrastructure wealthy jap portion of the Athabasca Basin area, in northern Saskatchewan – together with mixed Indicated Mineral Resources of 132.1 million kilos U3O8 at a median grade of three.three% U3O8, plus mixed Inferred Mineral Resources of three.zero million kilos U3O8 at a median grade of 1.7% U3O8. The undertaking is host to the high-grade Phoenix and Gryphon uranium deposits (found by Denison in 2008 and 2014, respectively), and is a three way partnership between Denison (90% and operator) and JCU (10%).
The property is positioned alongside the jap fringe of the Athabasca Basin in northern Saskatchewan, Canada and is positioned roughly 35 kilometres northeast of the Key Lake mill and 35 kilometres southwest of the McArthur River uranium mine. The property is properly positioned with respect to all-weather roads and the provincial energy grid. Vehicle entry to the property is by the provincial freeway system to the Key Lake mill then by the ore haul street between the Key Lake and McArthur River operations to the jap a part of the property.
Denison is a uranium exploration and improvement firm with pursuits centered within the Athabasca Basin area of northern Saskatchewan, Canada. In addition to its 90% owned Wheeler River undertaking, which ranks as the most important undeveloped high-grade uranium undertaking within the infrastructure wealthy jap portion of the Athabasca Basin area, Denison’s Athabasca Basin exploration portfolio consists of quite a few tasks overlaying roughly 320,000 hectares.
(Source and picture: Denison/Wheeler River facility)

The submit DENISON INCREASES INTEREST IN WHEELER RIVER URANIUM PROJECT appeared first on Energy Global News.

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