Business
Denison Mines Reports Results from 2019
TORONTO, March 5, 2020 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (DML: TSX, DNN: NYSE MKT) today filed its Audited Consolidated Financial Stateme
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, March 5, 2020 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (DML: TSX, DNN: NYSE MKT) today filed its Audited Consolidated Financial Statements and Management's Discussion & Analysis (\"MD&A\") for the quarter ended December 31, 2019. Both documents can be found on the Company's website at www.denisonmines.com or on SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. David Cates, President and CEO of Denison commented, 2019 represented a year of transition for Denison, as we aggressively moved forward to de-risk the application of the ISR mining method at Phoenix – following the completion of the highly successful Wheeler River PFS, and the Board's decision to advance the project into permitting, in late 2018. In early 2019 we launched the Environmental Assessment process, with our Project Description being accepted by the Federal and Provincial regulators. By the end of the year, we received a positive project scoping decision from the Federal regulators. In the field, we completed a 23-week first-of-its-kind ISR field test program designed to validate the permeability of the Phoenix orebody, which was identified as the most significant technical risk for the Phoenix ISR operation in the Wheeler River PFS. The field program was implemented in a staged manner, progressing from the completion of preliminary hydrogeological tests in a series of small diameter test wells, to the completion of the two large diameter, commercial scale wells – the first wells in the history of the Athabasca Basin intended for ISR mining. The results from this test work show significant hydraulic connectivity within the test areas of the Phoenix orebody and have confirmed our ability to achieve bulk hydraulic conductivity values, in a commercial scale well, that are consistent with those used in the PFS. Additionally, in early 2020 we have reported results from a specialized core leach test that indicate the uranium concentrations from solution to be recovered from the wellfield have the potential to significantly exceed the concentrations assumed in the PFS. Taken together, these results have mean...