SASKATCHEWAN - Development of the Midwest uranium project will go ahead, say owners DENISON MINES (25.17%), AREVA RESOURCES CANADA (69.16%) and OURD CANADA (5.67%). The Midwest deposit is located on the eastern edge of the Athabasca Basin.
The project involves developing an open pit mine ($300 million) and expanding the McClean Lake mill ($100 million). Ore will be trucked 15 km from the mine to the mill. There are other deposits to the north, south and in the basement that might be developed in the future.
Subject to regulatory approvals, site construction including the haul road, water treatment and other facilities could begin in mid-2009. Stripping of the rock over the ore would then commence in early 2010 with ore removal starting in mid-2011 and continuing through to 2013. It is anticipated that the project will employ approximately 150 people. The Mink Arm of the South McMahon Lake must be drained before the pit is excavated. The McClean Lake operation presently employs approximately 330 staff and 110 long-term contractors.
Additional information is available at www.DenisonMines.com.