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URANIUM RESOURCES – Numbers released for Midwest A deposit

SASKATCHEWAN - The Midwest joint venture (69.16% AREVA RESOURCES CANADA, 25.17% DENISON MINES and 5.67% OURD CANAD...


SASKATCHEWAN – The Midwest joint venture (69.16% AREVA RESOURCES CANADA, 25.17% DENISON MINES and 5.67% OURD CANADA) has released resource numbers for the Midwest A uranium deposit. The Midwest A deposit lies 3.0 km northeast of the Midwest deposit, which is being readied for open pit production in 2011.

The indicated resource at Midwest A is estimated to be 464,000 tonnes at 0.49% U, or 5.8 million lb of contained U3O8. The inferred portion of the deposit totals 9,200 tonnes at 18.0% U, or 4.3 million lb of contained U3O8.

The Midwest A deposit is located at a depth of between 175 and 210 metres below the surface. It consists of several subparallel, high-grade mineralized zones. These structures are surrounded by low-grade remobilized and clay-rich mineralization that has formed in the typical ‘pancake’ morphology. This occurs on several layers, with the most pronounced being located in the sandstone just under the contact with the chlorite zone, immediately under a conglomerate marker horizon located at about 175 metres below surface. This conglomerate layer has been somewhat disturbed and locally destroyed by the quartz dissolution associated with the mineralization. Another layer, more poorly defined, occurs just above the unconformity. The mineralized structures also exhibit structurally controlled roots that go well down into the basement (as far as 70 metres beneath the unconformity).

The Midwest joint venture plans to drill an additional 11,600 metres of exploration drilling in 2008, according to the press release from Denison (www.DenisonMines.com).


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