| From: LoneClone | 5/29/2019 2:29:02 PM | | | | | | CanAlaska to Drill West McArthur Uranium Target
June-September program targets high-grade uranium
ca.finance.yahoo.com
NewsfileMay 28, 2019
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2019) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to report that drill and camp contracts have been awarded for the summer drill program at the West McArthur uranium project. The program is intended to locate high-grade uranium hosted in faults along the C10 horizon, the major regional fault structure. Two previous drill holes intersected high-grade uranium - up to 5% U3O8 - just west of the projection of the C10 horizon and near the unconformity contact. CanAlaska believes the controlling structure of this high-grade mineralization has yet to be intersected in drilling.
The summer drill program is being operated by CanAlaska, and follows on the three-year target definition by Cameco's drill team. The ten holes drilled along a 1.6 kilometre (one mile) long stretch of Grid 5 included three significant uranium mineralized drill holes. See figure 1.
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Figure 1
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The wide spaced drilling also mapped an extensive zone of intense fluid alteration extending into the sandstone above the unconformity with basement rocks. The alteration rises 700 metres above the unconformity and is marked by broad halos of uranium, boron, arsenic and accompanying base metals, typical environments of major uranium deposits in the Athabasca Basin. The alteration and geochemical influx are associated with steep faults observed in the drill holes within the sandstone.
The first objective of the drill program by CanAlaska is to locate the mineralized fault structure(s), believed to be very close to drill holes WMA 42 and 42a see figure 2, and further detail at www.canalaska.com.
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Figure 2
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The targets for exploration are where the mineralized structures intersect the C10 horizon, which is one of three key graphitic horizons in the rocks below the unconformity. Flexures (major structure bends) along graphitic horizons are key areas to look for uranium mineralization and uranium deposits. Mineralized targets at West McArthur are associated with this flexure event, where structural complexity likely occurs.
CanAlaska President Peter Dasler comments, "The extent of the mineralization and in multiple areas over 1.6 kilometres (one mile) provides the scenario for a "Tier One" mineralizing event similar to the nearby world class McArthur River and Cigar Lake mines. We are fully financed to carry out the work program. This is truly a break-out discovery opportunity for CanAlaska."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 152,000 hectares (375,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Dr Karl Schimann, P. Geo, CanAlaska director and VP Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.
Contacts:
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Cory Belyk, COO
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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| To: LoneClone who wrote (18186) | 5/29/2019 2:47:46 PM | | From: LoneClone | | | | NexGen Intersects High-Grade Mineralization in all Twenty A2 and A3 Targets from the 2019 Feasibility Stage Drilling Program
newswire.ca
NexGen Energy Ltd. May 28, 2019, 06:30 ET
Figure 1: Arrow Deposit Drill Hole Locations
Figure 2: A2 and A3 Indicated Shells with Mine Schematic and Drill Hole Traces
VANCOUVER, May 28, 2019 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity for an additional twenty holes comprising 7,969.5 m from the Company's Feasibility stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan.
Objective I: Conversion of Indicated Mineral Resources to Measured Category
This current phase of the 2019 drilling program is targeting the A2 and A3 High-Grade Domain mine planning sections at a spacing between 9.0 m and 16.7 m. The target spacing incorporates the results of a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions based on 189 drill holes, totaling 121,923.15 m, which forms the basis of the Indicated Mineral Resource of 256.6 M lbs at 4.04 % U3O8. All drill holes are collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.
Highlights:
A2 High-Grade Domains and Sub-zone
- AR-19-229c2 intersected 46.5 m of total composite mineralization including 12.05 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 86.0 m section (602.0 to 688.0 m);
- AR-19-229c4 intersected 39.0 m of total composite mineralization including 8.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (578.0 to 666.0 m);
- AR-19-230c3 intersected 30.5 m of total composite mineralization including 7.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 93.0 m section (564.0 to 657.0 m). Additionally, of the 7.55 m of off-scale mineralization intersected in the hole, 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
- AR-19-235c1 intersected 43.0 m of total composite mineralization including 7.15 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 93.0 m section (517.0 to 610.0 m). Additionally, of the 7.15 m of off-scale mineralization intersected in the hole, 3.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
- AR-19-236c2 intersected 26.0 m of total composite mineralization including 6.35 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 m section (579.0 to 668.0 m.
A3 High-Grade Domains
- AR-19-231c2 intersected 48.0 m of total composite mineralization including 5.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 102.0 m section (469.0 to 571.0 m);
- AR-19-232c3 intersected 26.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 m section (560.0 to 649.0 m).
Drill hole locations and schematics are shown in Figures 1 to 2, drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca
Development, Permitting, Appointments, Activities & Financial
- Expediting Arrow to Feasibility by a 2-stage (10 rig) high density drilling program focused on mine optimization plans based on Measured and Indicated mineral resources.
- As reported on April 29, 2019, NexGen received acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission ("CNSC") and the Saskatchewan Ministry of Environment ("MOE"). The acceptance marked the commencement of an Environmental Assessment ("EA") on the Rook I Project (the "Project") in accordance with the requirements of both The Environmental Assessment Act (Province of Saskatchewan) and the Canadian Environmental Assessment Act, 2012 "CEAA 2012" (Government of Canada). The EA is being conducted through a coordinated process between the MOE and the CNSC, which is the Federal life-cycle regulator for all uranium mine and mill projects in Canada. In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.
- The Company also announces the appointments of Gillian McCombie, Vice President Human Resources and Arthur Lieu, MSc., P.Eng., Vice President Processing and Metallurgy. Gillian brings over 25 years of experience in human resources in the international mining and telecommunications sectors. Gillian most recently as Vice President Human Resources at Capstone Mining and prior to that with Telus and Placer Dome. Arthur joins NexGen having spent 20 years in mine processing and metallurgy. Most recently, he was the Chief Metallurgist at Cameco's Rabbit Lake mill and Orano's McClean Lake mill. Arthur holds a Bachelor of Science degree in Chemical Engineering and a Master of Science degree in Geochemistry, with a focus on source-term characteristic of uranium waste rock piles at Cameco Key Lake uranium mine. Mr. Lieu is also trained in Lean Six Sigma Black Belt process improvement and optimization. Mr. Lieu is a registered Professional Engineer (P. Eng) with the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS).
- The Company had cash-on-hand of approximately $90 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.
Leigh Curyer, Chief Executive Officer, commented: "These continuing high grade results received from sections of the ore body focused on the mine plan, highlight the extraordinary high grade and robustness of Arrow. In parallel, the Feasibility-stage engineering, metallurgical and environmental studies are all advancing extremely well, together with permitting and our community programs. I would like to take the opportunity to also welcome Arthur and Gill to the dedicated NexGen team. Two highly experienced and successful professionals in their respective fields joining NexGen at an incredibly exciting time as we begin to see positive signs emerging in the uranium market."
Troy Boisjoli, Vice-President, Operations and Project Development, commented: "The continuity of mineralization within the high-grade core of Arrow is remarkable and these results highlight the technical advantages at the Arrow Deposit: mineralization hosted within stacked shear system (allowing holes to intersect multiple targets with one drill hole, minimizing total meterage), stable crystalline basement host rock, and extremely high-grades. These high grade results in all twenty holes will be incorporated into an updated Mineral Resource Estimate which will form the basis of the Feasibility Study, scheduled for release in H1 2020."
Table 1: Arrow Deposit Drill Hole Data
Drill Hole
| Athabasca Group - Basement
Unconformity Depth (m)
| Handheld Scintillometer Results (RS-120)
| Hole ID
| Azimuth
| Dip
| Total
Depth (m)
|
| From
(m)
| To
(m)
| Width
(m)
| CPS Range
| AR-19-225c3
| 327
| -65
| 283
| N/A
| 452.5
| 454
| 1.5
| <500 - 46000
|
|
|
|
|
| 481
| 481.5
| 0.5
| <500 - 800
|
|
|
|
|
| 488
| 490
| 2
| <500 - 700
|
|
|
|
|
| 494.5
| 498
| 3.5
| <500 - 1050
|
|
|
|
|
| 501
| 501.5
| 0.5
| <500 - 1200
|
|
|
|
|
| 586.5
| 602
| 15.5
| <500 - 61000
|
|
|
|
|
| 610
| 610.5
| 0.5
| <500 - 550
|
|
|
|
|
| 615.5
| 618.5
| 3
| <500 - 1800
| AR-19-229c1
| 327
| -65
| 693
| 132.8
| 473
| 475
| 2
| <500 - 1200
|
|
|
|
|
| 480.5
| 481
| 0.5
| <500 - 600
|
|
|
|
|
| 488.5
| 489
| 0.5
| 1000 - 13000
|
|
|
|
|
| 495
| 495.5
| 0.5
| <500 - 1240
|
|
|
|
|
| 501
| 502
| 1
| <500 - 41500
|
|
|
|
|
| 504.5
| 509
| 4.5
| <500 - 20200
|
|
|
|
|
| 511.5
| 513
| 1.5
| <500 - 4000
|
|
|
|
|
| 516.5
| 520
| 3.5
| <500 - 19800
|
|
|
|
|
| 522.5
| 533
| 10.5
| <500 - 61000
|
|
|
|
|
| 535.5
| 538.5
| 3
| <500 - 49000
|
|
|
|
|
| 543.5
| 546.5
| 3
| <500 - 61000
|
|
|
|
|
| 549.5
| 550
| 0.5
| 1230 - 61000
|
|
|
|
|
| 570
| 570.5
| 0.5
| <500 - 540
|
|
|
|
|
| 628.5
| 634
| 5.5
| <500 - 61000
|
|
|
|
|
| 638
| 638.5
| 0.5
| <500 - 610
|
|
|
|
|
| 642
| 645.5
| 3.5
| <500 - 61000
|
|
|
|
|
| 651
| 675.5
| 24.5
| <500 - 61000
| AR-19-229c2
| 327
| -65
| 309
| N/A
| 494.5
| 495
| 0.5
| <500 - 700
|
|
|
|
|
| 500.5
| 501
| 0.5
| <500 - 2150
|
|
|
|
|
| 505
| 505.5
| 0.5
| <500 - 680
|
|
|
|
|
| 508
| 508.5
| 0.5
| <500 - 31000
|
|
|
|
|
| 514
| 514.5
| 0.5
| <500 - 9400
|
|
|
|
|
| 517.5
| 519
| 1.5
| <500 - 6000
|
|
|
|
|
| 524.5
| 525.5
| 1
| <500 - 4000
|
|
|
|
|
| 530
| 536.5
| 6.5
| <500 - 8590
|
|
|
|
|
| 541.5
| 542.5
| 1
| 580 - 52500
|
|
|
|
|
| 545
| 545.5
| 0.5
| <500 - 3200
|
|
|
|
|
| 550.5
| 562.5
| 12
| <500 - 61000
|
|
|
|
|
| 574.5
| 577
| 2.5
| <500 - 2000
|
|
|
|
|
| 625
| 671.5
| 46.5
| <500 - 61000
| AR-19-229c3
| 327
| -65
| 240
| N/A
| 494.5
| 496
| 1.5
| <500 - 14900
|
|
|
|
|
| 502
| 503
| 1
| <500 - 53300
|
|
|
|
|
| 506.5
| 507.5
| 1
| <500 - 19500
|
|
|
|
|
| 510
| 510.5
| 0.5
| <500 - 800
|
|
|
|
|
| 513.5
| 514
| 0.5
| <500 - 1100
|
|
|
|
|
| 517
| 518
| 1
| <500 - 12100
|
|
|
|
|
| 522
| 524.5
| 2.5
| <500 - 2800
|
|
|
|
|
| 529
| 531
| 2
| <500 - 32600
|
|
|
|
|
| 539.5
| 541.5
| 2
| <500 - 14100
|
|
|
|
|
| 544.5
| 549.5
| 5
| <500 - 47900
|
|
|
|
|
| 558
| 561
| 3
| <500 - 61000
|
|
|
|
|
| 563.5
| 565
| 1.5
| <500 - 14000
|
|
|
|
|
| 571
| 573
| 2
| <500 - 2100
|
|
|
|
|
| 579
| 586
| 7
| <500 - 1500
|
|
|
|
|
| 592.5
| 594.5
| 2
| <500 - 610
|
|
|
|
|
| 629.5
| 645.5
| 16
| <500 - 61000
|
|
|
|
|
| 648
| 651.5
| 3.5
| <500 - 4400
|
|
|
|
|
| 654
| 680
| 26
| <500 - 61000
|
|
|
|
|
| 683
| 683.5
| 0.5
| <500 - 1350
|
|
|
|
|
| 705
| 707
| 2
| <500 - 930
|
|
|
|
|
| 711.5
| 718
| 6.5
| <500 - 1300
| AR-19-229c4
| 327
| -65
| 465
| N/A
| 404
| 405.5
| 1.5
| <500 - 600
|
|
|
|
|
| 415.5
| 416
| 0.5
| <500 - 820
|
|
|
|
|
| 464
| 466
| 2
| <500 - 3150
|
|
|
|
|
| 471.5
| 472.5
| 1
| <500 - 2300
|
|
|
|
|
| 480
| 486.5
| 6.5
| <500 - 61000
|
|
|
|
|
| 489
| 489.5
| 0.5
| <500 - 1300
|
|
|
|
|
| 494
| 499
| 5
| <500 - 18600
|
|
|
|
|
| 501.5
| 505
| 3.5
| <500 - 32000
|
|
|
|
|
| 508.5
| 510.5
| 2
| <500 - 43000
|
|
|
|
|
| 516.5
| 531.5
| 15
| <500 - 39000
|
|
|
|
|
| 613.5
| 652.5
| 39
| <500 - 61000
| AR-19-230c1
| 327
| -65
| 651.5
| 128.35
| 499
| 499.5
| 0.5
| <500 - 4800
|
|
|
|
|
| 502
| 502.5
| 0.5
| <500 - 1200
|
|
|
|
|
| 515.5
| 522
| 6.5
| <500 - 3200
|
|
|
|
|
| 524.5
| 532.5
| 8
| <500 - 1700
|
|
|
|
|
| 566
| 566.5
| 0.5
| <500 - 550
|
|
|
|
|
| 571
| 572
| 1
| <500 - 1300
|
|
|
|
|
| 577
| 598.5
| 21.5
| <500 - 61000
|
|
|
|
|
| 603
| 605.5
| 2.5
| <500 - 1200
|
|
|
|
|
| 608
| 608.5
| 0.5
| <500 - 1650
|
|
|
|
|
| 611
| 611.5
| 0.5
| <500 - 1160
|
|
|
|
|
| 622
| 628.5
| 6.5
| <500 - 1800
|
|
|
|
|
| 631.5
| 632
| 0.5
| <500 - 6600
| AR-19-230c2
| 327
| -65
| 252.5
| N/A
| 484
| 484.5
| 0.5
| <500 - 750
|
|
|
|
|
| 496.5
| 501
| 4.5
| <500 - 50200
|
|
|
|
|
| 522.5
| 523
| 0.5
| <500 - 575
|
|
|
|
|
| 552
| 556.5
| 4.5
| <500 - 740
|
|
|
|
|
| 559
| 563
| 4
| <500 - 1400
|
|
|
|
|
| 570.5
| 572
| 1.5
| <500 - 620
|
|
|
|
|
| 586
| 609.5
| 23.5
| <500 - 61000
|
|
|
|
|
| 613.5
| 614.5
| 1
| <500 - 3200
|
|
|
|
|
| 617
| 618
| 1
| <500 - 750
|
|
|
|
|
| 621.5
| 630
| 8.5
| <500 - 15600
|
|
|
|
|
| 636
| 636.5
| 0.5
| <500 - 970
| AR-19-230c3
| 327
| -65
| 234
| N/A
| 458
| 458.5
| 0.5
| <500 - 1030
|
|
|
|
|
| 461.5
| 463.5
| 2
| <500 - 820
|
|
|
|
|
| 474.5
| 475
| 0.5
| <500 - 680
|
|
|
|
|
| 487
| 487.5
| 0.5
| <500 - 910
|
|
|
|
|
| 504
| 504.5
| 0.5
| <500 - 1030
|
|
|
|
|
| 521.5
| 524
| 2.5
| <500 - 730
|
|
|
|
|
| 561.5
| 562.5
| 1
| <500 - 1310
|
|
|
|
|
| 567.5
| 568
| 0.5
| <500 - 510
|
|
|
|
|
| 592
| 614.5
| 22.5
| <500 - 61000
|
|
|
|
|
| 619.5
| 623.5
| 4
| <500 - 1280
|
|
|
|
|
| 626.5
| 628.5
| 2
| <500 - 14500
|
|
|
|
|
| 654.5
| 655
| 0.5
| <500 - 540
| AR-19-231c1
| 327
| -65
| 564.5
| 138
| 466
| 470.5
| 4.5
| <500 - 14000
|
|
|
|
|
| 487.5
| 488
| 0.5
| <500 - 500
|
|
|
|
|
| 497
| 505
| 8
| <500 - 46000
|
|
|
|
|
| 510.5
| 511
| 0.5
| <500 - 900
|
|
|
|
|
| 515.5
| 528
| 12.5
| <500 - 58000
| AR-19-231c2
| 327
| -65
| 222.5
| N/A
| 467.5
| 472.5
| 5
| <500 - 38000
|
|
|
|
|
| 480.5
| 481
| 0.5
| 500 - 7500
|
|
|
|
|
| 485
| 488
| 3
| <500 - 2700
|
|
|
|
|
| 491
| 493.5
| 2.5
| <500 - 3100
|
|
|
|
|
| 498.5
| 499
| 0.5
| 500 - 6200
|
|
|
|
|
| 505.5
| 546.5
| 41
| <500 - 61000
|
|
|
|
|
| 555
| 555.5
| 0.5
| <500 - 770
| AR-19-231c3
| 327
| -65
| 261.5
| N/A
| 505.5
| 506
| 0.5
| <500 - 2100
|
|
|
|
|
| 509
| 523.5
| 14.5
| <500 - 61000
|
|
|
|
|
| 527
| 528
| 1
| <500 - 650
|
|
|
|
|
| 535.5
| 557
| 21.5
| <500 - 61000
|
|
|
|
|
| 559.5
| 560.5
| 1
| <500 - 1400
|
|
|
|
|
| 567.5
| 568
| 0.5
| <500 - 560
|
|
|
|
|
| 571
| 571.5
| 0.5
| <500 - 1100
| AR-19-232c1
| 327
| -65
| 642.5
| 138.8
| 211.5
| 212
| 0.5
| <500 - 650
|
|
|
|
|
| 477.5
| 481.5
| 4
| <500 - 2200
|
|
|
|
|
| 485.5
| 486.5
| 1
| <500 - 600
|
|
|
|
|
| 493
| 494
| 1
| <500 - 1700
|
|
|
|
|
| 506.5
| 507.5
| 1
| <500 - 1450
|
|
|
|
|
| 517
| 520
| 3
| <500 - 12000
|
|
|
|
|
| 534
| 537
| 3
| <500 - 24000
|
|
|
|
|
| 544
| 544.5
| 0.5
| 2200 - 51000
|
|
|
|
|
| 548
| 552
| 4
| <500 - 5300
|
|
|
|
|
| 563.5
| 565
| 1.5
| <500 - 44000
|
|
|
|
|
| 568
| 570
| 2
| <500 - 5700
|
|
|
|
|
| 574
| 574.5
| 0.5
| <500 - 1800
|
|
|
|
|
| 577
| 577.5
| 0.5
| <500 - 680
|
|
|
|
|
| 580.5
| 598
| 17.5
| <500 - 23000
|
|
|
|
|
| 601
| 604
| 3
| <500 - 3600
|
|
|
|
|
| 607.5
| 609.5
| 2
| <500 - 1200
| AR-19-232c2
| 327
| -65
| 278.5
| N/A
| 454.5
| 458
| 3.5
| <500 - 2100
|
|
|
|
|
| 486
| 486.5
| 0.5
| <500 - 660
|
|
|
|
|
| 492
| 495
| 3
| <500 - 960
|
|
|
|
|
| 516
| 518.5
| 2.5
| <500 - 7500
|
|
|
|
|
| 531.5
| 534.5
| 3
| <500 - 14100
|
|
|
|
|
| 539.5
| 540
| 0.5
| <500 - 5700
|
|
|
|
|
| 550
| 553
| 3
| <500 - 61000
|
|
|
|
|
| 556
| 556.5
| 0.5
| <500 - 1350
|
|
|
|
|
| 560.5
| 564
| 3.5
| <500 - 39000
|
|
|
|
|
| 571
| 571.5
| 0.5
| <500 - 720
|
|
|
|
|
| 574.5
| 594
| 19.5
| <500 - 14200
|
|
|
|
|
| 599.5
| 600
| 0.5
| <500 - 860
| AR-19-232c3
| 327
| -65
| 294.5
| N/A
| 473
| 473.5
| 0.5
| <500 - 620
|
|
|
|
|
| 483.5
| 484
| 0.5
| <500 - 840
|
|
|
|
|
| 492
| 493.5
| 1.5
| <500 - 2100
|
|
|
|
|
| 504.5
| 505.5
| 1
| <500 - 960
|
|
|
|
|
| 519.5
| 520
| 0.5
| <500 - 600
|
|
|
|
|
| 530
| 531.5
| 1.5
| <500 - 31000
|
|
|
|
|
| 552
| 560.5
| 8.5
| <500 - 61000
|
|
|
|
|
| 563
| 569.5
| 6.5
| <500 - 17200
|
|
|
|
|
| 572
| 575.5
| 3.5
| <500 - 15700
|
|
|
|
|
| 580.5
| 581
| 0.5
| <500 - 690
|
|
|
|
|
| 589
| 592
| 3
| <500 - 54600
|
|
|
|
|
| 599
| 599.5
| 0.5
| <500 - 840
|
|
|
|
|
| 606
| 617.5
| 11.5
| <500 - 61000
|
|
|
|
|
| 620
| 620.5
| 0.5
| <500 - 1900
| AR-19-233c3
| 327
| -65
| 276.5
| N/A
| 451
| 456.5
| 5.5
| <500 - 980
|
|
|
|
|
| 459
| 466
| 7
| <500 - 1500
|
|
|
|
|
| 468.5
| 469
| 0.5
| <500 - 550
|
|
|
|
|
| 483
| 490
| 7
| <500 - 43700
|
|
|
|
|
| 498.5
| 510.5
| 12
| <500 - 17200
|
|
|
|
|
| 514
| 517.5
| 3.5
| <500 - 1700
|
|
|
|
|
| 520.5
| 523.5
| 3
| <500 - 3200
|
|
|
|
|
| 536.5
| 540
| 3.5
| <500 - 1600
|
|
|
|
|
| 542.5
| 543
| 0.5
| <500 - 600
| AR-19-234c1
| 327
| -65
| 522
| 127.5
| 472
| 491
| 19
| <500 - 61000
| AR-19-234c2
| 327
| -65
| 177
| N/A
| 471.5
| 503.5
| 32
| <500 - 61000
| AR-19-235c1
| 327
| -65
| 620
| 132.7
| 425.5
| 427
| 1.5
| <500 - 950
|
|
|
|
|
| 440.5
| 441.5
| 1
| <500 - 4500
|
|
|
|
|
| 452.5
| 453.5
| 1
| <500 - 660
|
|
|
|
|
| 456.5
| 462
| 5.5
| <500 - 1300
|
|
|
|
|
| 478.5
| 479
| 0.5
| <500 - 1400
|
|
|
|
|
| 492.5
| 509.5
| 17
| <500 - 4500
|
|
|
|
|
| 526
| 526.5
| 0.5
| <500 - 1200
|
|
|
|
|
| 534
| 534.5
| 0.5
| <500 - 520
|
|
|
|
|
| 547.5
| 548
| 0.5
| <500 - 510
|
|
|
|
|
| 563
| 585
| 22
| <500 - 61000
|
|
|
|
|
| 588.5
| 590.5
| 2
| <500 - 36000
|
|
|
|
|
| 605.5
| 606
| 0.5
| <500 - 550
| AR-19-236c1
| 327
| -65
| 660.5
| 133.95
| 465
| 466.5
| 1.5
| <500 - 17500
|
|
|
|
|
| 478.5
| 479
| 0.5
| <500 - 510
|
|
|
|
|
| 500.5
| 501
| 0.5
| <500 - 2200
|
|
|
|
|
| 503.5
| 504
| 0.5
| <500 - 1060
|
|
|
|
|
| 515.5
| 521.5
| 6
| <500 - 27500
|
|
|
|
|
| 525
| 525.5
| 0.5
| 510 - 1050
|
|
|
|
|
| 529.5
| 530
| 0.5
| <500 - 630
|
|
|
|
|
| 586.5
| 587
| 0.5
| <500 - 530
|
|
|
|
|
| 597
| 597.5
| 0.5
| <500 - 780
|
|
|
|
|
| 600.5
| 619.5
| 19
| <500 - 61000
|
|
|
|
|
| 624
| 624.5
| 0.5
| <500 - 850
|
|
|
|
|
| 628.5
| 629.5
| 1
| <500 - 1200
|
|
|
|
|
| 633.5
| 634
| 0.5
| <500 - 760
|
|
|
|
|
| 637.5
| 642
| 4.5
| <500 - 1650
|
|
|
|
|
| 660
| 660.5
| 0.5
| <500 - 1070
| AR-19-236c2
| 327
| -65
| 321.5
| N/A
| 457
| 457.5
| 0.5
| <500 - 5000
|
|
|
|
|
| 465
| 465.5
| 0.5
| <500 - 1170
|
|
|
|
|
| 468.5
| 469
| 0.5
| <500 - 2650
|
|
|
|
|
| 472.5
| 474
| 1.5
| <500 - 1300
|
|
|
|
|
| 478
| 478.5
| 0.5
| <500 - 510
|
|
|
|
|
| 486.5
| 487.5
| 1
| <500 - 3330
|
|
|
|
|
| 494
| 494.5
| 0.5
| <500 - 1100
|
|
|
|
|
| 497
| 497.5
| 0.5
| <500 - 710
|
|
|
|
|
| 502
| 502.5
| 0.5
| <500 - 1330
|
|
|
|
|
| 509
| 519
| 10
| <500 - 3770
|
|
|
|
|
| 522.5
| 530
| 7.5
| <500 - 8900
|
|
|
|
|
| 573
| 573.5
| 0.5
| <500 - 520
|
|
|
|
|
| 588
| 589
| 1
| <500 - 610
|
|
|
|
|
| 600
| 601
| 1
| <500 - 800
|
|
|
|
|
| 608.5
| 609
| 0.5
| <500 - 510
|
|
|
|
|
| 613
| 617.5
| 4.5
| <500 - 61000
|
|
|
|
|
| 621
| 629.5
| 8.5
| <500 - 61000
|
|
|
|
|
| 639
| 642
| 3
| <500 - 5700
|
|
|
|
|
| 645
| 650.5
| 5.5
| <500 - 7700
|
|
|
|
|
| 653.5
| 654
| 0.5
| <500 - 510
|
|
|
|
|
| 669.5
| 671
| 1.5
| <500 - 5200
|
Parameters:
- Maximum internal dilution 2.00 m downhole
- All depths and intervals are metres downhole, true thicknesses are yet to be determined
- "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
- "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
- Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval
- Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip
About NexGen
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.
NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada; including a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC's 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.
Technical Disclosure
The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O'Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a "qualified person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101").
The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA. Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols. All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen. Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.
A technical report in respect to the PFS is filed on SEDAR ( www.sedar.com) and EDGAR ( www.sec.gov/edgar.shtml) and is available for review on NexGen Energy's website ( www.nexgenenergy.ca).
SEC Standards
Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of "contained pounds" in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.
Technical Information
For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled "Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study" dated effective 5 November, 2018 (the "Rook 1 Technical Report") prepared by Paul O'Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com and EDGAR ( www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy's website ( www.nexgenenergy.ca).
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company's Annual Information Form dated March 4, 2019 under "Risk Factors".
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE NexGen Energy Ltd.
 For further information: Contact Information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, nexgenenergy.ca
Related Links nexgenenergy.ca |
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| From: LoneClone | 6/5/2019 1:58:54 PM | | | | | | Denison Announces Initiation of Environmental Impact Assessment Process and Execution of MOU with Local Communities for the Wheeler River Project
ca.finance.yahoo.com
CNW GroupJune 3, 2019
TORONTO, June 3, 2019 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (DML: TSX, DNN: NYSE American) is pleased to announce that the Canadian Nuclear Safety Commission ("CNSC") and the Saskatchewan Ministry of Environment ("SK MOE") have accepted the Provincial Technical Proposal and Federal Project Description (the "Project Description") submitted by Denison for the In-Situ Recovery ("ISR") uranium mine and processing plant proposed for the Company's 90% owned Wheeler River Project ("Wheeler River" or the "Project"). Denison is also pleased to announce that it has executed a series of Memoranda of Understanding (the "MOUs") with Indigenous communities in support of the advancement of the Project. View PDF version
David Cates, President and CEO of Denison commented, "Acceptance of the Project Description by the regulatory agencies is a critical first step for the development of the Wheeler River Project. The Company is excited to continue working with Indigenous communities, regulatory agencies, and the public during the environmental assessment process – to achieve the Company's objectives of advancing Wheeler River through the Environmental Impact Assessment ("EIA"), regulatory approval, and feasibility study processes.
Successfully engaging, and entering into MOUs with local Indigenous communities, ahead of the initiation of the EIA process, signals strong support for the advancement of Wheeler River in future years. We look forward to building on the relationships that we've established over the past several years to develop a collaborative vision for the future of the Project."
Project Description
Acceptance of the Project Description is the first formal step to officially commence the EIA process in accordance with the requirements of both the Canadian Environmental Assessment Act, 2012 (Canada) ("CEAA 2012") and The Environmental Assessment Act (Saskatchewan). The Project Description outlines the major components of the Project and the potential interactions with the environment. The executive summary of the Project Description is available in English, French, Dene and Cree on the Company's website at www.denisonmines.com.
The CNSC and the SK MOE are expected to carry out a coordinated Federal-Provincial EIA that will follow the spirit of the Canada-Saskatchewan Agreement on Environmental Assessment Cooperation (2005), to the extent possible. The cooperation agreement allows for the production of a single Environmental Impact Statement for the Project (the "Project EIS"), which is intended to present the findings of the EIA in accordance with the requirements of both levels of government. A successful EIA process is critical to securing the approvals necessary to develop and operate a mine in Canada.
The Company identified the EIA process as a key element of the Project's critical path. Accordingly, Denison plans to initiate various studies and assessments as part of the EIA process, which is intended to culminate in the preparation of the Project EIS. The EIA is a planning and decision-making tool, which involves predicting potential environmental effects throughout the project lifecycle (construction, operation, decommissioning and post-decommissioning) at the site, and within the local and regional assessment areas. The EIA objectives are to minimize or avoid adverse environmental effects before they occur and incorporate environmental factors into decision making processes. In addition to predictions made, effective monitoring programs will be developed based on results of the assessments and implemented as part of the "plan, do, check, act" style system for continual improvement and adaptive management. The EIA work builds upon the comprehensive environmental baseline dataset Denison has prepared for the Project, and feedback collected from engagement activities completed to date.
Environmental Advantages of the Proposed Wheeler River Project
After careful consideration of the strong economic results produced by the Pre-Feasibility Study ("PFS"), prepared in accordance with NI 43-101 for the Project in late 2018, Denison and the Wheeler River Joint Venture ("WRJV") approved plans to initiate the EIA process as well as the engineering studies and related programs required to advance the development of an ISR mining operation, highlighted by the high-grade Phoenix deposit, with an on-site processing plant (see Denison's news release dated December 18, 2018).
As outlined within the Project Description, the Company's evaluation of the ISR mining method has identified several significant environmental and permitting advantages – particularly when compared to the impacts associated with conventional uranium mining in Canada. The Project's ISR mining operation is expected to produce no tailings, generate very small volumes of waste rock, and has the potential for low volumes or possibly no water discharge to surface water bodies, as well as the potential to use the existing power grid to operate on a near zero carbon emissions basis. The proposed use of a freeze wall, to encapsulate the ore zone and contain the mining solution used in the ISR operation, streamlines the mining process, minimizes interaction with the environment, and facilitates controlled reclamation of the site at decommissioning. Taken together, the Project has the potential to be one of the most environmentally friendly uranium mining and processing operations in the world. Owing largely to these benefits, engagement with local Indigenous communities, the public, and federal and provincial representatives, to date, has been encouraging regarding the use of ISR mining.
Community Support
As reported within the Project Description, Denison has executed a series of MOUs, in support of the advancement of the Project, with a number of Indigenous communities who assert that the Project falls partially or entirely within their traditional territories, and where traditional land use activities are currently practiced within the local and regional area surrounding the Project.
These non-binding MOUs formalize the signing parties' intent to work together in a spirit of mutual respect and cooperation in order to collectively identify practical means by which to avoid, mitigate, or otherwise address potential impacts of the Project upon the exercise of Indigenous rights, Treaty rights, and other interests, as well as to facilitate sharing in the benefits that will flow from the Project. The MOUs provide a process for continued engagement and information-sharing and establish a platform to identify business, employment and training opportunities for the parties with respect to the Project.
About Wheeler River
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="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 at an average grade of 3.3% U3O8, plus combined Inferred Mineral Resources of 3.0 million pounds U3O8 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, and is a joint venture between Denison (90% and operator) and JCU (Canada) Exploration Company Limited (10%)." data-reactid="50">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 at an average grade of 3.3% U3O8, plus combined Inferred Mineral Resources of 3.0 million pounds U3O8 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, and is a joint venture between Denison (90% and operator) and JCU (Canada) Exploration Company Limited (10%).
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="A PFS was completed in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U3O8 over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The ISR operation planned for the Project includes the mining of the Phoenix deposit, which is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U3O8. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the WRJV are subject to different tax and other obligations. " data-reactid="51">A PFS was completed in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U3O8 over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The ISR operation planned for the Project includes the mining of the Phoenix deposit, which is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U3O8. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the WRJV are subject to different tax and other obligations.
Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.
About Denison
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its 90% owned Wheeler River Project, Denison's Athabasca Basin exploration portfolio consists of numerous projects covering approximately 310,000 hectares. Denison's interests in the Athabasca Basin also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest and Midwest A deposits, and a 66.51% interest in the J Zone and Huskie deposits on the Waterbury Lake property. Each of Midwest, Midwest A, J Zone and Huskie are located within 20 kilometres of the McClean Lake mill.
Denison is also engaged in mine decommissioning and environmental services through its Denison Environmental Services division and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride.
Qualified Persons
The disclosure of scientific and technical information regarding the Wheeler River Project in this news release was reviewed and approved by Dale Verran, MSc, P.Geo., Pr.Sci.Nat., the Company's Vice President, Exploration, a Qualified Person in accordance with the requirements of NI 43-101.
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 concerning the business, operations and financial performance and condition of Denison.
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 the following: development and expansion plans and objectives, including the results of the PFS and plans for the EA and other regulatory and feasibility study processes for Wheeler River; expectations regarding Denison's community engagement and MOUs with local communities; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners. Statements relating to 'mineral reserves' or 'mineral resources' are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.
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 Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the 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, please refer to the factors discussed in Denison's Annual Information Form dated March 12, 2019 under the heading 'Risk Factors'. These 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. Denison does not 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 Denison's expectations except as otherwise required by applicable legislation.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources and Probable Mineral Reserves: This news release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that while such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ("NI 43-101") and are recognized and required by Canadian regulations, the United States Securities and Exchange Commission ("SEC") does not recognize them. 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. References to estimates of mineral reserves in this news release have been prepared in accordance with NI 43-101. The definition of probable mineral reserves used in NI 43-101 differs from the definition used by the SEC in the SEC's Industry Guide 7. Under the requirements of the SEC, mineralization may not be classified as a "reserve" unless the determination has been made, pursuant to a "final" feasibility study that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Denison has not prepared a feasibility study for the purposes of NI 43-101 or the requirements of the SEC. Accordingly, Denison's probable mineral reserves disclosure may not be comparable to information from U.S. companies subject to the reporting and disclosure requirements of the SEC.
Cision
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SOURCE Denison Mines Corp.
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| To: LoneClone who wrote (18189) | 6/5/2019 2:02:25 PM | | From: LoneClone | | | | Purepoint Uranium/Orano/Cameco Plan Next Program at Hook Lake
newswire.ca
Purepoint Uranium Group Inc. Jun 05, 2019, 06:30 ET
TORONTO, June 5, 2019 /CNW/ - Purepoint Uranium Group Inc. (the "Company" or "Purepoint") (TSX: PTU.V) is pleased to discuss the results of a recent Technical Committee meeting of the Hook Lake Joint Venture, a project owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%). The working session included technical representatives from each company with the purpose of reviewing all data and findings produced to date and developing a common and collective approach to the next stages of the project's advancement. The Hook Lake project lies on the southwestern edge of Saskatchewan's Athabasca Basin and is adjacent to and on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R deposit and NexGen's Arrow deposit.
Figure 1: Section HK19-105 (CNW Group/Purepoint Uranium Group Inc.)
Figure 2: EM Survey (CNW Group/Purepoint Uranium Group Inc.)
Figure 3: Spitfire 3-D Model Interpretation (CNW Group/Purepoint Uranium Group Inc.)
Figure 4: Additional Exploration Targets (CNW Group/Purepoint Uranium Group Inc.)
"We are very excited that the results of this year's ground electromagnetic (EM) survey have supported our structural interpretation," said Scott Frostad, Vice President Exploration. "We have a new priority drill target in the form of a previously unknown conductive structure that links the Dragon and Spitfire areas."
"Only recently have we focused our exploration on the eight km trend lying north-east of our Spitfire discovery" stated Chris Frostad, Purepoint's President & CEO. "Our partners remain confident that numerous opportunities exist for a Tier 1 deposit to be found somewhere across this large project".
Highlights:
- The team identified primary areas of exploration for next stage advancement. In concert with resources from each company, work will begin on assembling detailed plans for each area in order for the committee to agree on priority and budget allotment at the next meeting;
- Based on what is now an extensive database of drill results, Purepoint will revise their lithological/structural map of the Patterson Lake corridor, an eight kilometre stretch across the property which is proving to be very complex in its make up;
- The committee will re-convene in the early fall to complete the prioritization of targets and to begin the budget process;
- Updated maps are now available on the Company's website at c212.net.
North Dragon Area
As previously reported, the 2019 drilling tested an EM conductor historically named the "W" conductor, which runs approximately 800 metres west of and parallel to the Dragon shear zone.
Hole HK19-105 (Figure 1) intersected numerous high-strain-zones, a post-Athabasca fault combined with strong hydrothermal alteration and elevated radioactivity with up to 125 ppm uranium in both the sandstone and basement rocks. The results of HK19-105 are considered to make the area surrounding HK19-105 highly prospective for both unconformity-type and basement-hosted uranium mineralization.
Plans will include a follow up to HK19-105 including the re-drilling of Hole HK19-108 which was collared 100 metres northeast of HK19-105 but was lost shortly after the unconformity within strongly clay and hematite altered diorite gneiss at a depth of 438.0 metres. The team will also consider additional geophysical surveys towards the north to define further drill targets.
Spitfire/Dragon Geophysical Survey
An important discovery during last year's winter drill season was a wide, mineralized graphitic shear running through the Dragon zone that was hydrothermally altered and along the same geophysical trend as the Spitfire discovery. The new structure, identified through drilling, was only evident within select ground geophysical results and currently remains untested for approximately five kilometres between the Spitfire and Dragon zones.
During 2019, Discovery International Geophysics of Saskatoon, SK completed 74 kilometres of stepwise moving loop transient EM surveying between the Spitfire and Dragon areas in an effort to define the location and extent of the interpreted structure.
The EM survey results identified a previously unseen, strongly conductive shear on trend between the two zones (Figure 2). Appropriate drill testing is now being planned for this highly prospective conductor.
Spitfire Deposit
The Partnership has developed 3-D modelling interpretations of the extensive drilling completed to date at the Spitfire deposit (Figure 3). The current interpretation shows the potential for deeply rooted mineralized lenses beneath Spitfire similar to the neighbouring Arrow deposit.
A plan will be developed to determine the nature and extent of drill testing required to assess the Spitfire mineralization at depth.
Drill holes from Spitfire Zone can be viewed at Corebox at: c212.net.
Additional Exploration Targets
Additional areas of interest by the team include the magnetic low located northeast of Spitfire and southwest of the new EM conductor as well as the complex EM conductor located west-northwest of Spitfire (Figure 4).
Hook Lake JV Project
The Hook Lake JV project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.
Current exploration is targeting the Patterson Lake Corridor that hosts Fission's Triple R Deposit (indicated mineral resource 87,760,000 lbs U3O8 at an average grade of 1.82% U3O8), NexGen Energy's Arrow Deposit (indicated mineral resource 256,600,000 lbs U3O8 at an average grade of 4.03%) and the Spitfire Discovery by the Hook Lake JV.
About Purepoint
Purepoint Uranium Group Inc. is focused on the precision exploration of its ten projects in the Canadian Athabasca Basin, the world's richest uranium region. Established in the Athabasca Basin well before the initial resurgence in uranium earlier last decade, Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium producers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit, NexGen's Arrow Deposit and Purepoint's Spitfire discovery.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Purepoint Uranium Group Inc.
 For further information: Purepoint Uranium Group Inc., Chris Frostad, President and CEO, (416) 603-8368, www.purepoint.ca, www.twitter.com/purepointU3O8
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| From: LoneClone | 6/7/2019 10:42:55 AM | | | | | | US uranium miners see boost from Commerce report
miningweekly.com
6th June 2019
By: Reuters
WASHINGTON – Two uranium mining companies said on Wednesday they are "confident" that US President Donald Trump will implement limits on uranium imports after the Commerce Department recommended urgent steps to boost domestic production of a list of 35 "critical minerals" that included the nuclear fuel.
The White House is currently reviewing a petition lodged by the companies, Ur- Energy and Energy Fuels, that asks the president to require that at least a quarter of US uranium needs are filled by domestic supply, and requiring US federal power utilities and agencies to buy US uranium.
Trump is expected to decide on the petition by July.
"It’s clear that the administration recognizes that relying on imported uranium creates a strategic vulnerability for our economy, military and overall security," Paul Goranson, COO of Energy Fuels, and John Cash, vice president of regulatory affairs at Ur- Energy, said in a joint statement to Reuters. "We are confident that he will recognise the danger of imported uranium and use his authority to address this threat and protect US national security."
The Commerce Department's report on Tuesday came after Chinese officials suggested rare earths and other critical minerals could be used as leverage in the trade war between the world’s largest economic powers. The report was initially due for release late last year.
US reliance on foreign minerals has worried US officials since 2010, when China - a major global source of the minerals - embargoed exports to Japan during a diplomatic row.
Rare earth minerals are essential for the manufacture of mobile phones and a host of other consumer goods, as well as fighter jets. Uranium is mainly used by the nuclear power industry and for weapons.
Tuesday's Commerce report included 61 specific recommendations - including low-interest loans and “Buy American” requirements for defense companies - to boost domestic production of minerals.
PROTECTED LANDS
The measures would throw a lifeline to the struggling domestic uranium mining industry, which in 2017 saw production fall to near historic lows. Current uranium prices are hovering in the mid-$20s/lb compared to highs over $140/lb in 2007.
But some Western Democratic lawmakers and environmental groups raised concerns on Wednesday that greenlighting measures to boost domestic production would put iconic Western landscapes and sacred tribal lands at risk.
The Commerce Department report recommended that both the Bureau of Land Management and the Forest Service review all areas that are currently “withdrawn” – or protected - from development and assess whether those restrictions should be lifted or reduced to allow for critical mineral development.
It also proposed altering how the Interior Department and its agencies review mining projects under the bedrock National Environmental Policy Act, urging expedited environmental studies and identifying minerals which can be excluded from environmental reviews.
US House Natural Resources Committee Chairman Raul Grijalva said at a hearing on Wednesday that such measures could open uranium-rich areas near Arizona's Grand Canyon. He urged Congress to pass his Grand Canyon Centennial Protection Act, which would put a permanent ban on new mining claims on one million acres north and south of the national park. |
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| To: LoneClone who wrote (18191) | 6/7/2019 10:45:54 AM | | From: LoneClone | | | | World’s top uranium producer is gloomy about nuclear power
miningweekly.com
6th June 2019
By: Bloomberg
NEW YORK – Don’t expect an upswing in the global uranium market anytime soon.
“In our models, we don’t get excited on the demand side,” said Galymzhan Pirmatov, CEO of Kazatomprom, Kazakhstan’s State-owned mining company that’s the world’s biggest supplier.
With construction of nuclear power plants at a ten-year low, uranium demand remains weak. That’s holding prices so low that mining companies have been wary of increasing production. Kazatomprom’s output will increase about 5% this year, to as much as 22 800 t, and then will be flat in 2020, Pirmatov said Wednesday in an interview in New York. While he hasn’t yet made a decision on 2021, he doesn’t see much to get excited about, at least in the short term.
“I do believe prices are too low,” he said. Uranium has slumped 15% this year to $24.35/lb. Kazakhstan controls about 40% of the world’s supply of the metal, and Kazatomprom accounts for half of that, making it the biggest producer.
There were 55 nuclear plants under construction in the first quarter, the lowest number in a decade, according to BloombergNEF. While China is booming, with 11 of those projects, developed countries remain wary. That’s partly due to lingering concern from the 2011 Fukushima nuclear catastrophe in Japan, and partly due to high costs, Pirmatov said.
Long-term prospects are better in developing nations, where access to electricity remains a key barrier to growth. Seven of the reactors under construction are in India.
US CLOSINGS
In the US, flush with abundant and cheap natural gas, utilities are closing nuclear plants. The US is also considering whether to impose tariffs on uranium, after two small domestic mining companies filed a trade case last year, arguing that imports are a threat to national security. The Commerce Department concluded its investigation in April, but the results haven’t been made public.
Kazatomprom doesn’t think tariffs would aid the global industry, but Pirmatov doesn’t have a sense of what the Trump administration is planning.
“There’s no logic” to imposing trade barriers, he said. “Everyone is aware with this White House, you can’t predict.”
While the next few years may remain turbulent, Pirmatov said that increasing interest in carbon-free nuclear power is going to be a key driver for demand.
“He’s planning for the long term,” said Chris Gadomski, BNEF’s nuclear analyst. “There’s definitely long-term interest because of increased concern about climate.” |
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