SASKATCHEWAN - The latest estimate of proven and probable reserves at the Midwest project put the numbers at 345,000 tonnes averaging 5.47% U3O8 plus 4.37% Ni and 0.34% Co. An earlier estimate at the end of 2003 had put the grade at 3.97% U3O8 and tonnage at 383,000 tonnes.
Estimates of contained metal also rose. The latest figure is 41.7 million lb U3O8, up from 33.5 million lb in the earlier estimate.
The Midwest uranium project is owned 69% by COGEMA (www.Cogema.ca), 25% by DENISON MINES (www.DenisonMines.com) and 6% by OURD CANADA.
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