Denison Mines Corp. is pleased to announce that the Wheeler River Joint Venture (“WRJV”) has approved the initiation of an independent Feasibility Study (“FS” or the “Study”) for the In-Situ Recovery (“ISR”) mining operation proposed for the Phoenix uranium deposit (“Phoenix” or the “Project”). The Company is also pleased to announce the selection of leading global consulting and engineering firm Wood PLC (“Wood”) to lead and author the FS in accordance with Canadian Securities National Instrument 43-101.
David Cates, Denison’s President & CEO, commented, “The ISR de-risking activities we’ve completed since the publication of the Pre-Feasibility Study (‘PFS’) for Wheeler River in 2018 have been designed to support the completion of a future Feasibility Study, and the results to date have further confirmed the technical viability of the Project – leading to the decision to advance the Project and initiate the formal Feasibility Study process.
During this de-risking phase, we have been able to verify ore-body permeability and the leachability of high-grade uranium in conditions representative of an ISR mining setting. We’ve also engineered an improved containment design using a more conventional ground freezing approach. Based on the results of field programs and metallurgical lab testing completed over the last three years, we are confident that the Project is ready to advance into a full Feasibility Study. Taken together with the selection of globally recognized engineering firm Wood, the decision to launch the formal Feasibility Study process for Phoenix represents another important step towards achieving our objective of bringing low-cost ISR mining to the high-grade uranium deposits of the
The completion of the FS is a critical step in the progression of the Project and is intended to advance de-risking efforts to the point where the Company and the WRJV will be able to make a definitive development decision. Key objectives of the Study are expected to include:
Wood is a global leader in consulting and engineering across energy and the built environment, helping to unlock solutions to some of the world’s most critical challenges. Wood provides consulting, project and operational solutions in more than 60 countries and employs around 40,000 people. Importantly, Wood’s Saskatchewan-based team has significant experience in ISR mining projects as well as large-scale uranium, potash and solution mining projects. For more information about Wood, please visit www.woodplc.com.