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Canada
Wheeler River Project

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 Location:
150 km SW from Wollaston Lake, Saskatchewan, Canada

  Project Contacts:
345 4th Avenue South
Saskatoon
Saskatchewan, Canada
S7K 1N3
Phone  ...  Subscription required
Fax306-652-8202
WebsiteWeb
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  • Overview
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  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Uranium
Mining Method
  • Longhole stoping
  • Longitudinal retreat
  • Solution mining
Mine Life14 years (as of Jan 1, 2018)
Denison suspended certain activities at Wheeler River during 2020, including the Environmental Assessment process, which is on the critical path to achieving the project development schedule outlined in the PFS. While the EA process has resumed, the Company is not currently able to estimate the impact to the project development schedule outlined in the PFS, and users are cautioned against relying on the estimates provided therein regarding the start of pre-production activities in 2021 and first production in 2024.


Owners

Source: p. 3
CompanyInterestOwnership
Uranium Energy Corp. 5 % Indirect
Denison Mines Corp. (operator) 95 % Indirect
As at December 31, 2021, pursuant to the terms of the agreements with its applicable joint venture partners and subsequent to its acquisition of JCU in August 2021, Denison Mines Corp. had an effective 95.00% interest in the Wheeler River project.

Contractors

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Deposit Type

  • Unconformity related


Summary:

Both the Phoenix and Gryphon deposits are classified as Athabasca Basin unconformity-associated uranium deposits. Phoenix straddles the unconformity contact between the Athabasca Sandstone and underlying basement, while Gryphon is entirely hosted in the basement rocks.

Uranium mineralization at the Phoenix deposit occurs at the unconformity between Athabasca sandstones and basement rocks, with the most intense mineralization adjacent to the WS fault. A minor amount is basement fracture hosted mineralization extending below the north part of Zone A.

Mineralization and alteration have been traced over a strike length of approximately one kilometre. Since discovery hole WR-249 was drilled in 2008, 253 drill holes have reached the target depth, delineating two distinct zones (A and B) of high-grade uranium mineralization.

Mineralization is in the form of the oxide uraninite/pitchblende (UO2).

Average trace metal concentrations for Phoenix assay samples greater than 0.2% U3O8 are as follows: 576 ppm Ni, 194 ppm Co, 319 ppm As, 2,092 ppm Zn, 18 ppm Ag, 7,176 ppm Cu, and 9,143 ppm Pb. Average concentrations of Ni, Co and As are at the low end of the range found in other uranium deposits in the Athabasca basin.

Mineralization at Gryphon occurs 720 m below surface and is centred approximately 220 m below the sub-Athabasca unconformity. It is within 80 m of the unconformity at its highest point and 370 m below the unconformity a ........


Mining Methods

  • Longhole stoping
  • Longitudinal retreat
  • Solution mining


Summary:

Denison plans to mine the Phoenix deposit using the ISR extraction method with a low pH lixiviant. Uranium ISR uses the native groundwater in the orebody, which is fortified with a low pH solution and in most cases an oxidant. Pumping the solution through the ore zone and allowing the solution to contact the ore requires sufficient permeability of the ground.

Physically ISR mining is conducted through drill holes from surface to the orebody, known as wells. Wellfields are the groups of wells, installed and completed in the mineralized zones that are designed to effectively target delineated mineralization and reach the desired production goals. The mineralized zones are the geological sandstone units where the leaching solutions are injected and recovered via wells in an ISR wellfield. At present, the drilling of individual wells will be carried out utilizing either air rotary or mud rotary methods. The wellfield at Phoenix has been designed using a standard hexagonal pattern with 10m spacing between wells.

The uranium ISR process will involve the dissolution of the water-soluble uranium compound from the mineralized host sandstones at low pH ranges using acidic solutions. The acidic solution will dissolve and mobilize the uranium, allowing the dissolved uranium to be pumped to the surface within the mining solution.

Containment of the solution is a requirement in ISR operations to ensure recovery of the uranium and to minimize regional gro ........


Crushing and Grinding
Flow Sheet: Source

The mill is currently configured to be fed from either the ore stockpile and grinding circuit or from the ore slurry receiving facility, which is currently used to receive high-grade material from Cigar Lake.

The grinding circuit, consisting of a SAG and ball mill, is currently not in service, and is available to the Gryphon feed.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsLOM
U3O8 M lbs 108
All production numbers are expressed as yellow cake.


Reserves at December 31, 2021:
Mineral reserves for the Phoenix deposit are reported at the mineral resource cut-off grade of 0.8% U3O8.
Mineral reserves for the Gryphon deposit are estimated at a cut-off grade of 0.58% U3O8.

CategoryTonnage CommodityGradeContained Metal
Probable 1,398,000 t U3O8 3.5 % 109,400 k lbs
Indicated 1,809,000 t U3O8 3.3 % 132,100 k lbs
Inferred 82,000 t U3O8 1.7 % 3,000 k lbs

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Uranium (U3O8) CAD 9.26 / lb *  
Assumed price Uranium (U3O8) CAD 57.1 / lb *  
* According to 2018 study / presentation.

2018 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
Well Field OpEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 528.2
Transportation (haulage) costs $M CAD 22.6
G&A costs $M CAD 135.6
Total OpEx $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of October 30, 2018:
HME TypeSizeQuantity
Bolter ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 24, 2018
....................... Subscription required ....................... Subscription required Subscription required Sep 24, 2018
....................... Subscription required ....................... Subscription required Subscription required Sep 24, 2018
....................... Subscription required ....................... Subscription required Subscription required Oct 13, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 13, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
Pre-Feasibility Study Report 2018
Press Release 2018
Preliminary Economic Assessment 2016
Subscription required - Subscription is required.

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