The partners continued to explore the licence and invested in proprietary mining method named SABRE, which is designed to selectively extract high-grade uranium ores from surface.
Mining is planned to restart at the McClean North deposit in 2025, with a target of about 800,000 pounds of uranium that year, the partners said. Activities this year focused on readying the site and equipment for continuous commercial operations, they noted.
MLJV will also install eight pilot holes for the first mining cavities planned for excavation.
“The successful mining test of the SABRE method in 2021 provided the MLJV with important information about the productivity and cost of the operation,” Deninson’s president and chief executive David Cates said.
“This information suggests an incentive price meaningfully lower than current uranium prices, which has provided the JV with a strong basis to make a restart decision for mining,” Cates…
