SASKATCHEWAN - The McClean Lake uranium joint venture now puts the indicated resource at the McClean Lake North deposit at 186,114 t grading 2.80% U3O8, or 11.4 million contained lb. The inferred estimate is 3,261 t at 0.74% U3O8. A cutoff grade of 0.1% was used.
The McClean Lake North deposit is one of the pods being considered for mining with blind shaft boring. The tests concluded in late 2006 successfully extracted high grade material from areas too deep for open pit mining. SCOTT WILSON RPA has been retained to construct a block model of the McClean Lake North deposit for open pit mining. Reserve estimates and mining optimization work will follow.
The McClean Lake mine is a joint venture of AREVA RESOURCES CANADA (70%), DENISON MINES (22.5%) and OURD (CANADA) (7.5%). Production began in 1999. Visit www.ArevaResources.ca for complete information.
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