Denison Announces Exclusive Acquisition of MaxPERF Tool Systems, Enhancing Denison's Leadership in ISR Mining in the Athabasca Basin

 
 
 

  Denison Mines logo (CNW Group/Denison Mines Corp.) 

 
 

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has completed an acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada Inc. ("Penetrators"). Significantly, Penetrators has also agreed to work exclusively with Denison with respect to the use of the MaxPERF Tool Systems for uranium mining applications, and related services, in Saskatchewan for a 10-year period. View PDF Version

 

  David Cates , Denison's President & CEO, commented,   "We are please     d     to enter into this exclusive arrangement with Penetrators     and add     the MaxPERF technology to Denison's in-house ISR mining toolkit, which we believe will further enhance our existing and significant competitive advantage in deploying the low-cost In-Situ Recovery ('ISR') mining method to our high-grade uranium deposits in the Athabasca Basin     .     "   

 

  Chad Sorba , Denison's Vice President Technical Services & Project Evaluation, added,   "     With Denison on track     to     operate     the first     ISR uranium     mine     in the Athabasca Basin regio     n     ,     t     he acquisition     of     the     MaxPERF Tool System     s     represents another     important     step     in     our     preparation     s     for     project execution and commercial ISR mining.     MaxPERF has historically been used in the oil and gas sector and was identified by Denison as a potentially useful tool for permeability enhancement to support ISR mining.     In 2023,     Denison completed     a ground-breaking     multi-year technical de-risking program     at the Company's Phoenix deposit     , which     rigorously assessed and successfully applied the MaxPERF system     to enhance deposit permeabilit     y     – including     its     deployment as part of the highly successful Feasibility Field Test program.     Given the demonstrated success of the technology, we     look forward to continuing to work together with the team at Penetrators to     use MaxPERF in this new commercial application.     "   

 

  Dwayne West , President of Penetrators, further commented,   "     Denison's ISR uranium mining technique is an outstanding application for the MaxPERF technology – permeability exposure that will be exploited for both injectivity and productivity purposes. Penetrators is very pleased with the relationship we have built with Denison and this partnership is a positive next step     ."   

 

Permeability enhancement techniques, such as the use of the MaxPERF tool, are designed to improve hydraulic responses and inter-well connectivity within an ISR mining pattern, essentially engineering additional access to the natural permeability within the deposit. The MaxPERF tool has been successfully deployed several times as a method of permeability enhancement in ISR field studies conducted on the Company's potential ISR mining projects, including at Denison's flagship Phoenix uranium deposit.

 
   About Denison   
 

  Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada .   Denison 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 . In mid-2023, a Feasibility Study was completed for Wheeler River's Phoenix deposit as an ISR mining operation, and an update to the previously prepared PFS was completed for Wheeler River's Gryphon deposit as a conventional underground mining operation. Based on the respective studies, both deposits have the potential to be competitive with the lowest cost uranium mining operations in the world. Permitting efforts for the planned Phoenix ISR operation commenced in 2019 and have advanced significantly, with licensing in progress and a draft Environmental Impact Statement submitted for regulatory and public review in October 2022 .  

 

  Denison   's   interests in Saskatchewan    also   include a 22.5% ownership interest in the McClean Lake Joint Venture, which   owns   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 67.41% interest in the Tthe Heldeth Túé (   "   THT   "   ) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill.  

 

  Through its 50% ownership of   J   CU ( Canada ) Exploration Company, Ltd (   "   JCU   "   )   , Denison holds additional interests in various uranium project joint ventures in Canada , including the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%) and Christie Lake (JCU, 34.4508%).  

 

  Denison   '   s exploration portfolio includes further interests in properties covering ~   285   ,000 hectares in the Athabasca Basin region.  

 
   About     Penetrators   
 

  Penetrators is a privately owned, oil & gas industry service company, incorporated in Alberta in 1990 and is headquartered in Red Deer, Alberta .  

 

  Penetrators has developed the MaxPERF Drilling Tool technology – a hydraulically actuated, mechanical tool designed to mill wellbore casing and drill lateral tunnels into a formation pay-zone of interest, from an existing wellbore. The MaxPERF method of removing formation material through a rotary drilling technique offers production companies a unique ability to expose the pay-zone's permeability & porosity   , thus   providing   unparalleled exposure to the pay-zone compared to other conventional industry techniques.  

 

  For further information regarding Penetrators, please contact    Dwayne West    at   (403) 346-7474   or   visit   the company's website at maxperf.ca   .  

 
Qualified Persons
 

The technical information contained in this release has been reviewed and approved by Mr. Chad Sorba , P.Geo, Denison's Vice President Technical Services & Project Evaluation, a Qualified Person in accordance with the requirements of Canadian National Instrument 43-101 Mineral Disclosure Standards.

 
Cautionary Statement Regarding Forward-Looking Statements
 

  Certain information contained in this press release constitutes "forward-looking information", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar 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 press release contains forward-looking information pertaining to the following: the anticipated services Penetrators may provide and the objectives to be achieved with the MaxPERF acquisition; and Denison's percentage interest in its properties and its plans and agreements with its joint venture partners.  

 

  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, performance or achievements of Denison to be materially different from those expressed or implied by 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 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 27, 2023 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 press 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 press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation .

 
 

  Denison Announces Exclusive Acquisition of MaxPERF Tool Systems, Enhancing Denison's Leadership in ISR Mining in the Athabasca Basin (CNW Group/Denison Mines Corp.) 

 
 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/denison-announces-exclusive-acquisition-of-maxperf-tool-systems-enhancing-denisons-leadership-in-isr-mining-in-the-athabasca-basin-302070624.html  

 

SOURCE Denison Mines Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/26/c8610.html  

 
 

News Provided by Canada Newswire via QuoteMedia

DML:CA,DNN
The Conversation (0)
Denison Announces Completion of Conceptual Mining Study Evaluating ISR for Midwest and Plans to Advance Efforts in 2023

Denison Announces Completion of Conceptual Mining Study Evaluating ISR for Midwest and Plans to Advance Efforts in 2023

 
 
 

  Denison Mines logo (CNW Group/Denison Mines Corp.) 

 
 

Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce the successful completion of an internal conceptual mining study (the "Concept Study") examining the potential application of the In-Situ Recovery ("ISR") mining method at the Company's 25.17% owned Midwest project ("Midwest"). The Concept Study was prepared by Denison during 2022 and was formally issued to the Midwest Joint Venture ("MWJV") in early 2023. Based on the positive results of the Concept Study, the MWJV has now provided Denison with approval to complete additional ISR-related evaluation work for Midwest in 2023. View PDF version .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Denison Reports Financial and Operational Results for 2022, Including Significant De-Risking and Regulatory Milestones

Denison Reports Financial and Operational Results for 2022, Including Significant De-Risking and Regulatory Milestones

 
 
 

  Denison Mines logo (CNW Group/Denison Mines Corp.) 

 
 

Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the year ended December 31, 2022 . Both documents will be available on the Company's website at www.denisonmines.com , SEDAR (at www.sedar.com ) and EDGAR (at www.sec.govedgar.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. View PDF version .

 

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canadian and Saskatchewan flags waving under a clear blue sky.

13 Uranium Companies Exploring Canada's Athabasca Basin

Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

Keep reading...Show less
Terra Clean Energy (CSE:TCEC)

Terra Clean Energy


Keep reading...Show less
A$4.5M Placement to Underpin Resource Growth Strategy

A$4.5M Placement to Underpin Resource Growth Strategy

GTI Energy (GTR:AU) has announced A$4.5M Placement to Underpin Resource Growth Strategy

Download the PDF here.

John Ciampaglia, nuclear reactors.

John Ciampaglia: Uranium Turnaround? Spot Price Pop, Stocks and SPUT Raise

John Ciampaglia, CEO of Sprott Asset Management, discusses uranium supply, demand and pricing, also sharing details on the Sprott Physical Uranium Trust's (TSX:U.U,OTCQX:SRUUF) recently closed US$200 million bought-deal financing.

"It's clearly acted as a very positive catalyst — the spot price has popped, a lot of the equities have popped on this," he said about the agreement.

Keep reading...Show less

Latest Press Releases

Related News

×