White Canyon Uranium Limited: Initial Milling Results Show 0.291% Head Grade from Daneros Ore
25 Novembre 2010 - 9:10PM
Marketwired
White Canyon Uranium Ltd. (TSX VENTURE: WU)(ASX: WCU) ("White
Canyon" or the "Company") is pleased to announce that toll milling
commenced at Denison Mines Corp.'s (TSX: DML)(NYSE Amex: DNN) White
Mesa mill on November 1, 2010 as planned. The head grade of U3O8
processed is averaging 0.291% which is in line with company
expectations.
Toll milling of White Canyon's uranium ore stockpiled at the
White Mesa Mill is on target for completion in early December and
approximately 40,000 tons (36,280 metric tonnes) of ore are
expected to be processed.
As previously announced, White Canyon has engaged Denison Mines
as sales agent for the Company's 'yellow-cake' concentrate which
could be sold in to the spot market as early as December, 2010. The
spot price for uranium has been performing exceptionally well in
the past several months and was reported by UXC (The Uranium
Consulting Company) on November 23, 2010 at $60.50/pound.
White Canyon Uranium Limited listed in March 2008 and has fast
tracked to become an advanced uranium production company holding
100% interest in multiple mining projects in Southern Utah, USA
which comprise approximately 15,000 acres of mining claims and
mineral leases. The Daneros Mine is White Canyon's first mine to be
put into production.
Denison Mines Corporation is a diversified, intermediate uranium
producer and operates the only Uranium/vanadium mill in the United
States, the White Mesa Mill, near Blanding Utah.
Competent Persons Statement
Greg Burns has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Greg Burns consents to the inclusion in the report of
the matters based on his information in the form and context in
which it appears.
Forward Looking Statements
This announcement may contain certain forward looking statements
and projections regarding uranium pricing and sales; such forward
looking statements are for discussion purposes only and should not
be relied upon. They are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors
many of which are beyond the control of White Canyon Uranium. The
forward looking statements/projections are inherently uncertain and
may therefore differ materially from results ultimately achieved.
White canyon uranium does not make any representations and provides
no warranties concerning the accuracy of the projections, and
disclaims any obligation to update or revise any forward looking
statements/projections based on new information, future events or
otherwise except to the extent required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: White Canyon Uranium Limited John Ramsey Vice
President-Marketing +1 435 260 0267 jramsey@whitecanyonuranium.com
www.whitecanyonuranium.com
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