Denison Mines Corp 6-K, filed Sep 14, 2022
Denison Mines Corp. (DNN)
6-K
2022-09-14
For: 2022-09-14
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April 07, 2026
About this 6-K
Denison Mines Corp filed this 6-K on September 14, 2022.
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: September 14, 2022
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): ☐
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:
September 14, 2022
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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
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Exhibit Number
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Description
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99.1
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Press release dated
September 14, 2022 |
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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 Intersection of Additional
High-Grade Uranium Mineralization at
Waterfound
Toronto, ON – September
14, 2022. Denison Mines Corp. (“Denison” or the
“Company”) (TSX: DML; NYSE American: DNN) is pleased to
report that drill hole WF-74A intersected 4.75% eU3O8
over 13.3
metres (0.05%
eU3O8
cut-off), including a sub-interval
grading 25.23% eU3O8
over 0.5
m, as part of the recently
completed summer exploration program at the Waterfound River
property (“Waterfound”).
Uranium mineralization was encountered in three of
the seven drill holes completed during the summer exploration
program, following up on the winter 2022 discovery of high-grade
mineralization approximately 800 metres to the west of the
Alligator Zone. The discovery from the winter 2022 program was
highlighted by drill hole WF-68, which returned a mineralized
interval of 5.91% eU3O8
over 3.9
metres (see press release dated
March 29, 2022). Figure 1 and Figure 2 depict the location of the
Alligator Zone and the 2022 summer drilling,
respectively.
Andy Yackulic, P. Geo., Denison’s Director,
Exploration, commented, “The
mineralized intersection from WF-74A represents the best
mineralized hole drilled on the Waterfound property to date, and
highlights the potential for the discovery of additional high-grade
uranium mineralization further along strike to the west of the
Alligator Zone. The mineralization in WF-74A appears to be offset
to the north when compared to the interpreted location of
mineralization previously discovered in WF-68. This offset is
notable, as it potentially indicates that a later, cross-cutting
fault may be present between WF-74A and WF-68. The area to the west
of WF-74A is sparsely drilled, thus leaving several kilometres of
the fertile La Rocque conductive corridor open for follow
up.”
Denison
has an effective 24.68% ownership interest in the Waterfound River
Joint Venture (“Waterfound JV”) to which each of Orano
Canada Inc. (“Orano Canada”), Denison, and JCU (Canada)
Exploration Company, Limited (“JCU”) are participants.
Orano Canada has a 62.42% interest in the Waterfound JV and is the
project operator.
2022 Waterfound River Summer Exploration Program
Highlights
Drill hole WF-74A was completed approximately 40
metres west of WF-68 and intersected a broad zone of uranium
mineralization grading 4.75% eU3O8
over 13.3 metres (0.05%
eU3O8
cut-off), hosted within faulted
Athabasca sandstone. The mineralization in WF-74A represents the
best mineralized intersection drilled to date on the Waterfound
property, and is highlighted by multiple narrow intervals of
high-grade uranium hosted within fault strands, interpreted to
represent the brittle reactivation of the D-1
conductor.
At
the conclusion of the summer drill program, the mineralization
intersected in WF-74A remains open along strike to the west and
across strike in both directions. Additional drilling is required
in this area to resolve the structural controls on the high-grade
mineralization in WF-74A.
Drill holes WF-73 and WF-73-1 were drilled to test
the D-1 conductor approximately 300 m along strike to the east of
high-grade mineralization discovered during the 2022 winter
drilling program in drill hole WF-68. WF-73 intersected perched
uranium mineralization approximately 5 metres above the
unconformity, grading 0.09% eU3O8
over 0.2 metres. The follow up hole,
WF-73-1, successfully intersected uranium mineralization (0.34%
eU3O8
over 1.6 metres) located immediately
above the unconformity contact.
The
mineralized intersections from the 2022 summer exploration drilling
program are illustrated in Figure 2 and summarized in Table 1
below.
Table 1 – 2022 Waterfound River Summer Exploration Drilling
Highlights
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Drill Hole
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Orientation (azi./dip)
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From (m)
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To (m)
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Length (m)(1)
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eU3O8 (%)(2)
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WF-73(3)
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158°/-69°
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461.7
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461.9
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0.2
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0.09
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WF-73-1(3)
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158°/-67°
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470.1
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471.7
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1.6
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0.34
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WF-74A(3)
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155°/-69°
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479.2
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492.5
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13.3
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4.75
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including(4)
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-
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484.0
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484.5
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0.5
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25.23
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and(4)
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-
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487.7
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488.6
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0.9
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14.35
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and(4)
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-
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490.2
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490.5
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0.3
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16.30
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and(4)
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-
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491.8
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492.0
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0.2
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17.52
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Notes:
(1)
Lengths indicated represent the down-hole length of mineralized
intersections.
(2)
Radiometric equivalent U3O8 ("eU3O8")
derived from a calibrated gamma downhole probe.
(3) Mineralized interval is
composited above a cut-off grade of 0.05% eU3O8.
(4) Mineralized interval is
composited above a cut-off grade of 10.0% eU3O8.
Overall, the 2022 summer exploration program
consisted of seven completed diamond drill holes totalling 3,902.6
metres. Each of the holes completed during the summer drilling
program intersected indicative alteration and structural disruption
related to brittle-ductile deformation along the D-1 conductor
trend. In addition, each of the holes encountered elevated
radioactivity in the basal Athabasca sandstone, although only holes
WF-73, WF-73-1, and WF-74A returned radiometric equivalent uranium
grades exceeding 0.05% eU3O8.
Radiometric Equivalent Grades, Sampling, Analysis and Data
Verification
Following the completion of a drill hole, the hole
is radiometrically logged using a downhole slimline gamma probe,
which collects continuous readings of radioactivity along the
length of the drill hole. Probe results are then calibrated using
an algorithm calculated from the comparison of probe results
against geochemical analyses in the area. The gamma-log results
provide an immediate radiometric equivalent uranium value (eU%,
then converted to eU3O8%)
for the hole, which, except in very high-grade zones, is reasonably
accurate. The Company typically reports eU3O8,
as a preliminary result and subsequently reports definitive assay
grades following sampling and chemical analysis of the mineralized
drill core.
Assay
sample intervals are generally 50 centimetres long, except where
higher or lower grade mineralization boundaries fall within the
interval. In that case, two 25 centimetre samples are collected.
Flank samples of 1.0 metre are always collected where
mineralization is located. Systematic geochemistry samples are
collected every 10 metres down the hole.
All
assayed core is split in half, with one half retained and the other
sent to the SRC Geoanalytical Laboratory in Saskatoon for analysis.
Control samples are routinely assayed with each batch of core
samples analyzed.
About Waterfound River
The Waterfound River property is
located within the eastern portion of the Athabasca Basin region of
northern Saskatchewan, approximately 40 kilometres northwest of
Denison’s 22.5% owned McClean Lake mill. The Waterfound JV is
an unincorporated contractual arrangement between
Orano Canada (62.4223%), Denison Mines
Inc. (11.7767%), and JCU (Canada) Exploration Company,
Limited (“JCU”) (25.8010%). Denison holds an effective 24.6772%
ownership interest in the Waterfound JV through its direct interest
in the joint venture and its 50% ownership of
JCU.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. The Company has an effective 95% interest in
its flagship Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin region of northern
Saskatchewan.
Denison's interests in the Athabasca Basin also include a 22.5%
ownership interest in the McClean Lake joint venture, which
includes 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 67.01% interest in the
Tthe Heldeth Túé (“THT”, formerly J Zone) and
Huskie deposits on the Waterbury Lake property. The Midwest Main,
Midwest A, THT and Huskie deposits are each 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 ~300,000 hectares in the Athabasca Basin
region.
Denison is also engaged in post-closure mine care and maintenance
services through its Closed Mines group, which manages
Denison’s reclaimed mine sites in the Elliot Lake region and
provides related services to certain third-party
projects.
For more information, please contact
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David Cates
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(416) 979-1991 ext
362
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President and Chief Executive
Officer
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Mac McDonald
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(416) 979-1991 ext
242
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Exec. Vice President &
Chief Financial 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. Andrew Yackulic, P. Geo., Denison's
Director, Exploration, 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 ‘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’, ‘be
achieved’ or ‘has the potential to’.
In particular, this news release contains forward-looking
information pertaining to the following: the interpretation of
exploration results and expectations with respect thereto,
including the interpretation of the results from the Waterfound
River exploration program undertaken by Orano Canada, underlying
assumptions and the Waterfound JV’s intentions with respect
thereto; exploration plans and objectives; and expectations
regarding its joint venture ownership interests and the continuity
of its agreements with its partners.
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
interpretation of results are based may not be maintained after
further testing or be representative of actual conditions. 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 25, 2022 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.
Figure 1 – Location – Waterfound River JV
Figure 2 – 2022 Summer Exploration Drilling – Alligator
Extension
