The Canadian Safety Commission and the Saskatchewan Ministry of Environment have accepted the provincial technical proposal and federal project description submitted by TSX- and NYSE-listed Denison Mines for the in-situ recovery uranium mine and processing plant proposed for the company’s 90%-owned Wheeler River project.
Further, Denison announced in a statement on Monday that it had executed a series of memoranda of understanding with indigenous communities in support of the mine’s development.
“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,” said Denison president and CEO David Cates.
Wheeler River is the largest undeveloped uranium project in the infrastructure-rich eastern portion of the Athabasca Basin region, in northern Saskatchewan.
The project has indicated mineral resources of 132.1-million pounds of uranium oxide at an average grade of 3.3%, as well as inferred mineral resources of 3-million pounds of uranium oxide at an average grade of 1.7%.
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%-owner and operator) and Canada-based JCU Exploration Company (10%-owner).