Business
Denison Mines Announces Filing of Technical Report for Wheeler River
TORONTO, Aug. 9, 2023 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) announces the filing of its technical report supp
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Aug. 9, 2023 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) announces the filing of its technical report supporting the results of (i) the Feasibility Study (\"Phoenix FS\") completed for In-Situ Recovery (\"ISR\") mining of the high-grade Phoenix uranium deposit (\"Phoenix\") and (ii) a cost update (\"Gryphon Update\") to the 2018 Pre-Feasibility Study (\"2018 PFS\") for conventional underground mining of the basement-hosted Gryphon uranium deposit (\"Gryphon\"). The report is titled \"NI 43-101 Technical Report on the Wheeler River Project Athabasca Basin, Saskatchewan, Canada\" dated August 8, 2023 with an effective date of June 23, 2023 (\"Technical Report\"). The parties to the Wheeler River Joint Venture are Denison (operator) and JCU (Canada) Exploration Company Limited (\"JCU\"). Denison has an effective 95% ownership interest in the WRJV (90% directly, and 5% indirectly through a 50% ownership in JCU). This press release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated September 28, 2021 to its short form base shelf prospectus dated September 16, 2021. Wheeler River Technical Report The Technical Report will be posted on the Company's website at www.denisonmines.com and is or will be available under its profile on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.shtml. This report supports the disclosure made by the Company in its news release dated June 26, 2023, \"Denison reports significant increase in economic results for Wheeler River\" (the \"News Release\"). There are no material differences in the Technical Report from the information disclosed in the News Release. As outlined below and in the News Release, (i) the Phoenix FS confirms robust economics and the technical viability of an ISR uranium mining operation with low initial capital costs and a high rate of return, and (ii) the Gryphon PFS Update demonstrates that the underground development of Gryphon is a positive potential future use of cash flows generated from Phoenix, as it is able to leverage existing infrastructure to provide an additional source of low-cost production. Summary of Economic Results (100% Basis) – Base Case Phoenix Gryphon Uranium selling price UxC Spot Price(1) (~USD$66...