Denison Mines gains licence for McClean Lake operations in Canada
Uranium company Denison Mines has secured a ten-year mine operating licence for its 22.5%-owned McClean Lake operations in northern Saskatchewan, Canada.
Granted by the Canadian Nuclear Safety Commission (CNSC), the licence is scheduled to expire on 30 June 2027.
Located in the eastern section of the Athabasca Basin region, McClean Lake operations are owned by the McClean Lake Joint Venture (MLJV).
Alongside Denison, other stakeholders in the JV are Areva Resources Canada with a 70% interest as an operator, and OURD (Canada) with a 7.5% stake.
Denison Mines president and CEO David Cates said: "We are quite familiar with the CNSC's rigorous processes, having worked closely with the CNSC for many years in regards to our own reclaimed mine sites in Elliot Lake, and we are very pleased with the outcome of the McClean Lake renewal process.”
The property includes uranium deposits and the McClean Lake mill.
According to the company, the mill is technologically advanced and has been designed to process high-grade uranium ore without dilution.
It is currently processing ore from the Cigar Lake mine under a toll milling agreement.
A regulatory approval was obtained last year to increase the mill’s annual production capacity of uranium (U3O8) to 24 million pounds a year from the existing processing capacity of up to six million pounds U3O8 per annum.
McClean Lake also comprises the Caribou, Sue D, Sue E and McClean North uranium deposits, which contain estimated indicated mineral resources of 18 million pounds U3O8, plus inferred mineral resources of 7.6 million pounds U3O8.
Image: The McClean Lake operations is owned as a joint venture comprising Areva Resources Canada, OURD (Canada) and Denison Mines. Photo: courtesy of swm/FreeImages.com.