(Kitco News) - On Monday, Denison Mines (TSX: DML) (NYSE: DNN) reported that it has successfully recovered uranium bearing solution from the Phoenix in-situ recovery (ISR) test underway at the company's 95% owned Wheeler River project.
The company said that the successful recovery of uranium bearing solution from Denison's high-grade Phoenix deposit “is a historic moment for uranium mining in Canada.”
Denison added that initial analysis indicates the hydrogeological system has responded as expected with pH trends, flow characteristics and uranium recovery meeting expectations.
The leaching phase of the test commenced in September 2022 and preliminary results received to date have demonstrated the successful acidification of the test pattern and recovery of uranium through the ISR mining method, it noted.
“Given the highly successful results of the test, lixiviant injection has ceased, and operators at the Phoenix site are preparing to transition from the leaching phase of the test to the neutralization phase, which is expected to be completed before the end of the year. The final phase of the test, which involves management of the recovered solution, is expected to commence in the spring of 2023,” Denison said.
President and CEO David Cates commented, "The successful recovery of uranium bearing solution from Denison's high-grade Phoenix deposit is a historic moment for uranium mining in Canada. This accomplishment reflects the culmination of several years of technical de-risking and provides tangible validation of the company's selection of the ISR mining method for Phoenix in our 2018 Wheeler River pre-feasibility study. With this result, Denison has truly showcased its industry leadership in bringing the low-cost ISR mining method to the high-grade uranium deposits of the Athabasca Basin."
Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan – including combined indicated mineral resources of 132.1 million pounds U3O8 (1,809,000 tonnes at an average grade of 3.3% U3O8), plus combined inferred mineral resources of 3.0 million pounds U3O8 (82,000 tonnes at an average grade of 1.7% U3O8). The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively.
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