🕐11.01.10 - 01:45 Uhr
DENISON CONFIRMS FIRST ORE SHIPPED FROM DANEROS MINE GRADED 0.34% U308 – 15% HIGHER THAN EXPECTATION
White Canyon Uranium Limited ASX announcement
ASX Announcement
11 January 2010
DENISON CONFIRMS FIRST ORE SHIPPED FROM DANEROS MINE GRADED 0.34% U308 --
15% HIGHER THAN EXPECTATIONS
KEY POINTS
* Production of development material from Daneros uranium mine in Utah
shipped
to Denison Mines Corp, as planned, in December 2009,
* Denison confirmed material graded 0.34% U308, 15% higher than Company
expectations,
* White Canyon Uranium was expecting a grade of 0.3% for first shipment of
development material (based on drill hole data),
* Based on same drill hole data White Canyon Uranium expecting average
grade
of 0.25% across entire Daneros uranium mine, however this may be enhanced
given positive results from first shipment, and
* Second shipment of development ore to Denison currently being delivered.
US-focussed uranium company White Canyon Uranium Limited (ASX: WCU) ("White
Canyon" or "the Company") has received confirmation from major North
American uranium producer and processor Denison Mines Corps (TSX: DML,
NYSE AMEX:DNN) ("Denison") that the first shipment of production of
development material from its 100% owned Daneros uranium mine ("Daneros")
in South Eastern Utah to Denisons White Mesa Mill graded 0.34% U308, or
approximately 15% higher than Company expectations.
Based on drill hole data, the Company was expecting the first shipment of
development material, delivered to Denison in December 2009, to grade 0.03%
U308.
White Canyon believes the grade achieved for its first shipment is
very encouraging and gives them greater confidence for the grade likely to
be achieved from future deliveries.
"We have always been very conservative with our estimated grades and it
appears this approach has paid off, with the grade we achieved from this
first shipment to Denison approximately 15% above our expectations," said
White Canyon Uranium Managing Director, Mr Peter Batten.
"The Company has been as conservative with our estimation of grades across
the entire Daneros uranium mineralisation and, based on these results,
believe we could be pleasantly surprised with the grades achieved from the
remainder of the mineralisation within the mine area."
White Canyon has a conservative average drill indicated grade of 0.25% U308
for drill defined mineralisation at the Daneros uranium mine.
As previously
announced (see ASX announcement 20 October 2009), White Canyon has agreed
to sell material produced during the development stage of the Daneros
Uranium Mine into the Denison Ore Buying Schedule.
"The sale of this development material will allow Denison to derive
critical processing parameters with regard to the Daneros mineralisation,
will assist with how to best treat this mineralisation through the White
Mesa Mill in the future and will provide pertinent information required for
the finalisation of a long term treatment agreement with Denison," Mr
Batten said.
White Canyon is currently compiling the second shipment of production and
development material to Denison and expects to complete this ore parcel in
January 2010.
To read the full announcement click here:
http://esp.gewru.com/em/message/email/view.php?id=572493&u=15636
For further information please contact:
Peter Batten
Managing Director & CEO
White Canyon Uranium Limited
Tel: +61 8 9381 9192
Website: www.whitecanyonuranium.com
David Tasker
Professional Public Relations
Tel: +61 89388 0944/ +61 433 112 936
Em:
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