UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date: November 2, 2023
Commission File Number: 001-33414
Denison Mines Corp.
(Name of
registrant)
1100-40 University Avenue
Toronto Ontario
M5J 1T1 Canada
(Address of
principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form
40-F.
Form
20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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DENISON MINES
CORP.
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/s/ Amanda Willett
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Date:
November 2, 2023
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Amanda
Willett
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Vice
President Legal and Corporate Secretary
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FORM 6-K
EXHIBIT INDEX
Exhibit 99.1
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Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
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PRESS
RELEASE
Denison Announces Successful Completion of Recovered Solution
Management Phase of Phoenix ISR Feasibility Field Test
Toronto, ON – November 2,
2023. Denison Mines Corp. (‘Denison’ or the
‘Company’) (TSX: DML; NYSE American: DNN) is pleased to
announce the successful completion of the recovered solution
management phase of the Phoenix in-situ recovery
(‘ISR’) Feasibility Field Test (‘FFT’) at
the Company’s 95% owned Wheeler River project (‘Wheeler
River’ or the ‘Project’).
The FFT was highlighted by the recovery of 14,400
lbs U3O8
dissolved in solution generated during
the leaching and neutralization phases of the FFT in late 2022. The
solution recovered during the operation of these phases was stored
on site in accordance with permit conditions and in anticipation of
the recovered solution management phase of the FFT. This phase was
initiated during the first half of 2023 and involves the treatment
of the recovered solution via an on-site purpose-built treatment
system. Following treatment, a uranium bearing mineralized
precipitate and a treated effluent were produced. The treated
effluent was tested to ensure compliance with permit conditions
before being injected into a designated subsurface area. The
mineralized precipitates have been recovered from the process and
are safely stored on surface in accordance with permit
conditions.
Kevin Himbeault, Denison's Vice President
Operations & Regulatory Affairs, commented,
"The
completion of the recovered solution management phase of the FFT
has allowed Denison to demonstrate our operational capabilities
from start to finish of the ISR mining process – from the
construction and commissioning of the FFT facilities and
development of the wellfield, to control of mining solutions,
recovery of uranium bearing solutions, neutralization of the
portion of the ore zone used for the FFT, and finally the treatment
of solutions for safe discharge to the environment and storage. We
are proud of our team of operators and technical personnel for the
safe execution of the entire FFT program."
Completion of the Recovered Solution Management Phase
The recovered solution management phase of the FFT
commenced in April 2023 with the set-up and commissioning of the
solids management and water treatment circuit. Approximately 560
m3
of recovered solution plus wash water
used for cleaning of storage tanks and site equipment were
processed during the operation of the treatment circuit. Treatment
of recovered solutions concluded in October 2023, resulting in the
safe and successful treatment of all recovered solution, which
ensured compliance with all provincial permit
conditions.
The approximately 14,400 lbs U3O8
estimated to be contained within the
recovered solution from the leaching and neutralization phases were
precipitated during the recovered solution management phase with
over 99.99% efficiency, further validating the Company’s
processing designs and assumptions for the future Phoenix
processing plant.
The
treated effluent injected into the subsurface during the recovered
solution management phase was monitored for injection pressure and
contained to the designated injection area, with no migration of
the treated effluent observed above, below or outside of the
injection area.
Decommissioning of the Feasibility Field Test Site
With
the completion of the recovered solution management phase, Denison
has initiated decommissioning of the FFT facilities, in accordance
with its permit conditions. Decommissioning involves the cleaning,
deconstruction, and shipment of equipment used during the leaching,
neutralization, and solution management phases. Given the expected
onset of winter weather conditions, Denison expects to complete the
majority of the decommissioning of the FFT in 2024.
Northern Indigenous Employment and Business
Contributions
Denison
is also pleased to recognize the significant contributions of
several members of the English River First Nation
(‘ERFN’) and various Indigenous owned businesses to the
successful completion of all the phases of the FFT in 2022 and
2023. Tron Construction & Mining, a well-established operator
in northern Saskatchewan that is part of the Des Nedhe Group and
owned 100% by ERFN, and PBN Construction, a Northern Saskatchewan
Indigenous owned and operated contractor, provided qualified
support for commissioning, maintenance, and decommissioning work
throughout the various phases of the FFT.
Feasibility Field Test Background
The
FFT was designed to use the commercial-scale ISR test pattern,
installed at the Phoenix deposit in 2021 (see news releases dated
July 29, 2021, and October 28, 2021), to facilitate a combined
assessment of the deposit’s hydraulic flow properties and its
leaching characteristics previously determined through the
metallurgical core-leach testing program.
The
operation of the FFT occurred in three phases: (1) the leaching
phase, (2) the neutralization phase, and (3) the recovered solution
management phase. The FFT is fully permitted, having been
authorized by both the Saskatchewan Minister of Environment (see
news release dated July 12, 2022) and the Canadian Nuclear Safety
Commission (see news release dated August 8, 2022).
Overall,
the FFT provided further verification of the permeability,
leachability, and containment parameters needed for the successful
application of the ISR mining method at Phoenix and validates and
informs various design elements – including the expected
production and remediation profiles reflected in the results
announced from the Feasibility Study for Phoenix during the summer
of 2023.
About Wheeler River
Wheeler River is the largest undeveloped uranium project in the
infrastructure-rich eastern portion of the Athabasca Basin region,
in northern Saskatchewan. The project is host to the high-grade
Phoenix and Gryphon uranium deposits, discovered by Denison in 2008
and 2014, respectively, and is a joint venture between Denison (90%
and operator) and JCU (Canada) Exploration Company Limited (10%).
In August 2023, Denison filed a technical report summarizing the results of (i) the feasibility
study completed for ISR mining of the high-grade Phoenix uranium
deposit and (ii) a cost update to the 2018 Pre-Feasibility Study
for conventional underground mining of the basement-hosted Gryphon
uranium deposit. Based on the respective studies, both
deposits have the potential to be competitive with the lowest cost
uranium mining operations in the world. Permitting efforts for the
planned Phoenix ISR operation commenced in 2019 and have advanced
significantly, with licensing in progress and a draft Environmental
Impact Statement submitted for regulatory and public review in
October 2022. More information is available in the technical report titled “NI 43-101
Technical Report on the Wheeler River Project Athabasca Basin,
Saskatchewan, Canada” dated August 8, 2023 with an
effective date of June 23, 2023, a copy of which is available on
Denison's website and under its profile on SEDAR+ at
www.sedarplus.ca and on EDGAR at
www.sec.gov/edgar.shtml.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. In addition to the Company’s effective
95% interest in its flagship Wheeler River Uranium Project,
Denison’s interests in Saskatchewan include a 22.5% ownership
interest in the McClean Lake Joint Venture, which comprises several
uranium deposits and the McClean Lake uranium mill that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main and
Midwest A deposits and a 67.41% interest in the Tthe Heldeth
Túé (‘THT’) and Huskie deposits on the
Waterbury Lake property. The Midwest Main, Midwest A, THT and
Huskie deposits are located within 20 kilometres of the McClean
Lake mill.
Through its 50% ownership of JCU, Denison holds additional
interests in various uranium project joint ventures in Canada,
including the Millennium project (JCU, 30.099%), the Kiggavik
project (JCU, 33.8118%) and Christie Lake (JCU,
34.4508%).
Denison’s exploration portfolio includes further interests in
properties covering ~285,000 hectares in the Athabasca Basin
region.
For more information, please contact
David Cates
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(416) 979-1991 ext
362
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President and Chief Executive
Officer
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Follow Denison on
Twitter
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@DenisonMinesCo
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Qualified Persons
The technical information contained in this release has been
reviewed and approved by Mr. Chad Sorba, P.Geo., Denison’s
Director, Technical Services, who is a Qualified Person in
accordance with the requirements of NI 43-101.
Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this news release constitutes
‘forward-looking information’, within the meaning of
the applicable United States and Canadian legislation, concerning
the business, operations and financial performance and condition of
Denison. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
‘potential’, ‘plans’,
‘expects’, ‘budget’,
‘scheduled’, ‘estimates’,
‘forecasts’, ‘intends’,
‘anticipates’, or ‘believes’, or the
negatives and/or variations of such words and phrases, or state
that certain actions, events or results ‘may’,
‘could’, ‘would’, ‘might’ or
‘will’ ‘be taken’, ‘occur’ or
‘be achieved’.
In particular, this news release contains forward-looking
information pertaining to the following: scope, objectives and
interpreted results of the FFT program and other evaluation
programs conducted with respect to the Phoenix deposit; permitting
of the FFT and the ability to satisfy permit conditions; and
expectations regarding its joint venture ownership interests and
the continuity of its agreements with its partners and third
parties.
Forward looking statements are based on the opinions and estimates
of management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Denison to be materially different from those
expressed or implied by such forward-looking statements. For
example, the modelling and assumptions upon which the plans for
Wheeler River are based may not be maintained after further work is
completed. In addition, Denison may decide or otherwise be required
to discontinue testing, evaluation and other work if it is unable
to maintain or otherwise secure the necessary resources (such as
testing facilities, capital funding, regulatory approvals, etc.).
Denison believes that the expectations reflected in this
forward-looking information are reasonable but no assurance can be
given that these expectations will prove to be accurate and results
may differ materially from those anticipated in this
forward-looking information. For a discussion in respect of risks
and other factors that could influence forward-looking events,
please refer to the factors discussed in Denison’s Annual
Information Form dated March 27, 2023 or subsequent quarterly
financial reports under the heading ‘Risk Factors’.
These factors are not, and should not be construed as being
exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.
Grafico Azioni Denison Mines (AMEX:DNN)
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