TORONTO, Nov. 3, 2021 /PRNewswire/ - Orano Canada Inc.
("Orano Canada") and Denison Mines Corp. ("Denison") (TSX: DML)
(NYSE American: DNN), as joint-venture partners in the McClean Lake
Joint Venture ("MLJV"), are pleased to report the successful
completion of a five-year test mining program deploying the
patented Surface Access Borehole Resource Extraction ("SABRE")
mining method on the McClean Lake property. View PDF
version.
The final stage of a five-year field test was completed from May
to September 2021 with four mining
cavities successfully excavated to produce approximately 1,500
tonnes of high-value ore ranging in grade from 4%
U3O8 to 11% U3O8. The
program was concluded with no safety, environmental or radiological
incidents and confirmed the ability to achieve key operating
objectives associated with the test program – including targets for
cavity diameter, rates of recovery, and mine production rates.
The majority of the ore recovered from the test mining program
has now been transferred to the McClean Lake mill, and is expected
to be processed for the MLJV by the end of the year.
This test represents an important milestone for the SABRE
technology. Based on the success of the 2021 program, the partners
plan to evaluate the potential use of this innovative method for
future mining operations at their jointly owned McClean Lake and
Midwest properties. The McClean Lake joint venture is owned by
Orano Canada (77.5% and operator) and Denison (22.5%). The Midwest
joint venture is owned by Orano Canada (74.83% and operator) and
Denison (25.17%).
"The SABRE mining method is the result of long-term R&D and
involves a mix of different equipment, technology and expertise,"
said Orano Canada President and CEO Jim
Corman. "I'm proud of the work this operational team of
drillers, mechanics and engineers completed this summer as they
showed how agile this method can truly be. They demonstrated the
Orano values of innovative thinking, cohesion and team spirit,
revising plans throughout the summer to incorporate the learnings
from each new drill hole."
David Cates, Denison's President
& CEO, commented "With this test result, SABRE has demonstrated
that it is capable of mining high-grade uranium ore in the
Athabasca Basin region.
Orano, as operator of the MLJV, has diligently advanced the
necessary R&D efforts as part of a long-term vision for
developing a mining method that could benefit our joint venture. We
are appreciative of Orano's efforts to ensure the safe and
successful development of this patented technology and look forward
to jointly exploring its potential applications in the context of
improving uranium markets."
About SABRE
SABRE is the culmination of a mining equipment invention and
development initiative that began in 2004. It is a non-entry,
surface-based mining method that uses a high-pressure water jet
placed at the bottom of a drill hole to excavate a mining cavity.
The cuttings from the excavation process are then air lifted to
surface, separated and stockpiled. SABRE is viewed as an innovative
mining method that could potentially allow for the economic access
to relatively small high-grade orebodies in the Athabasca Basin that are either too small or
too deep to be mined economically by open-pit and/or underground
mining methods.
SABRE is unique in that the mining method can be selective and
scalable, which has the potential to provide superior flexibility
when compared to conventional mining methods and is thus ideally
suited to ever changing uranium market conditions – with a
potentially short production ramp up of months instead of years.
The SABRE method is considered environmentally friendly as a result
of its less intrusive nature and potentially smaller surface
footprint when compared to conventional open pit or underground
mining methods. Reduced water usage and power consumption also
contribute to potential reductions in greenhouse gas emissions and
improved sustainability. Additionally, as a non-entry mining
method, radiological exposure for mine workers is minimized.
Quality Assurance, Quality Control and Data
Verification
Orano Canada, under the supervision of a Qualified Person in
accordance with the requirements of NI 43-101, has performed
detailed QAQC and data verification, where possible, of all
datasets with respect to the test mining program.
Qualified Persons
The technical information in this release has been prepared
and/or reviewed and approved by Mr. Louis-Pierre Gagnon, P. Eng., General Manager,
Mine Projects of Orano Canada, who
is a Qualified Person in accordance with the requirements of NI
43-101.
On behalf of Denison, Mr. David
Bronkhorst, P. Eng., Denison's Vice President Operations and
a Qualified Person in accordance with the requirements of NI
43-101, has approved the technical disclosure in this release.
About Orano Canada:
Headquartered in Saskatoon,
Saskatchewan, Orano Canada Inc. is a leading producer of
uranium, accounting for the processing of 10 million pounds of
uranium concentrate produced in Canada in 2020. Orano Canada has been
exploring for uranium, mining and milling in Canada for more than 55 years. Orano Canada is
the operator of the McClean Lake uranium mill and a major partner
in the Cigar Lake, McArthur River
and Key Lake operations. The company employs over 450 people in
Saskatchewan, including about 320
at the McClean Lake operation where over 46% of employees are
self-declared Indigenous. As a sustainable uranium producer, Orano
Canada is committed to safety, environmental protection and
contributing to the prosperity and well-being of neighbouring
communities.
Orano Canada Inc. is a subsidiary of the multinational Orano
group. As a recognized international operator in the field of
nuclear materials, Orano delivers solutions to address present and
future global energy and health challenges. Its expertise and
mastery of cutting-edge technologies enable Orano to offer its
customers high value-added products and services throughout the
entire fuel cycle. Every day, the Orano group's 16,500 employees
draw on their skills, unwavering dedication to safety and constant
quest for innovation, with the commitment to develop know-how in
the transformation and control of nuclear materials, for the
climate and for a healthy and resource-efficient world, now and
tomorrow.
Visit Orano at www.oranocanada.com or follow us on LinkedIn,
Facebook and Twitter: @oranocanada.
About Denison:
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. The Company has an effective 95% interest in its
flagship Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin
region of northern Saskatchewan.
Denison's interests in the Athabasca Basin also include a 22.5% ownership
interest in the McClean Lake joint venture, which includes several
uranium deposits and the McClean Lake uranium mill that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main and
Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé
("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake
property. The Midwest Main, Midwest A, THT and Huskie deposits are
each located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU (Canada) Exploration Company, Limited, Denison
holds additional interests in various uranium project joint
ventures in Canada, including the
Millennium project (JCU 30.099%), the Kiggavik project (JCU
33.8123%) and Christie Lake (JCU
34.4508%). Denison's exploration portfolio includes further
interests in properties covering ~280,000 hectares in the
Athabasca Basin region.
Denison is also engaged in mine decommissioning and
environmental services through its Closed Mines group (formerly
Denison Environmental Services), which manages Denison's
Elliot Lake reclamation projects
and provides post-closure mine care and maintenance services to a
variety of third-party clients.
Visit Denison at www.denisonmines.com or follow us on Twitter:
@DenisonMinesCo.
Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this news release
constitutes 'forward-looking information', within the meaning of
the applicable United States and
Canadian legislation. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
'plans', 'expects', 'budget', 'scheduled', 'estimates',
'forecasts', 'intends', 'anticipates', or 'believes', or the
negatives and/or variations of such words and phrases, or state
that certain actions, events or results 'may', 'could', 'would',
'might' or 'will be taken', 'occur', 'be achieved' or 'has the
potential to'.
In particular, this news release contains forward-looking
information pertaining to SABRE, it's design and functions and the
five-year test mining program and the interpretation of the results
therefrom; the potential applications of SABRE, including
evaluation of its potential use on other projects for the MLJV,
Midwest joint venture and/or third parties; and expectations
regarding the parties' joint venture ownership interests and the
continuity of their agreements with partners and third
parties.
Forward looking statements are based on the opinions and
estimates of management as of the date such statements are made,
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the company to which they relate to
be materially different from those expressed or implied by such
forward-looking statements. Orano Canada and Denison believe their
respective expectations reflected in this forward-looking
information are reasonable but no assurance can be given that these
expectations will prove to be accurate and results may differ
materially from those anticipated in this forward-looking
information. For a discussion in respect of risks and other
factors that could influence forward-looking events for Denison,
please refer to the factors discussed in Denison's Annual
Information Form dated March 26, 2021
or subsequent quarterly financial reports under the heading 'Risk
Factors'. Any and all such factors are not, and should not be
construed as being exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Neither Orano Canada nor Denison undertake any
obligation to publicly update or revise any forward-looking
information after the date of this news release to conform such
information to actual results or to changes in their respective
expectations except as otherwise required by applicable
legislation.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/orano-and-denison-announce-successful-2021-mining-test-showcasing-sabre-potential-301415694.html
SOURCE Denison Mines Corp.