Published: February 29, 2024 |

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Denison Mines has completed an acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada. Penetrators has also agreed to work exclusively with Denison with respect to the use of the MaxPERF Tool Systems for uranium mining applications, and related services, in Saskatchewan for a 10-year period.

“We are pleased to enter into this exclusive arrangement with Penetrators and add the MaxPERF technology to Denison’s in-house ISR mining toolkit, which we believe will further enhance our existing and significant competitive advantage in deploying the low-cost in-situ recovery ‘ISR’ mining method to our high-grade uranium deposits in the Athabasca Basin,” said David Cates, Denison’s president and CEO.

“With Denison on track to operate the first ISR uranium mine in the Athabasca Basin region, the acquisition of the MaxPERF Tool Systems represents another important step in our preparations for project execution and commercial ISR mining. MaxPERF has historically been used in the oil and gas sector and was identified by Denison as a potentially useful tool for permeability enhancement to support ISR mining,” said Chad Sorba, Denison’s vice president Technical Services and Project Evaluation.

“In 2023, Denison completed a ground-breaking multi-year technical de-risking program at the company’s Phoenix deposit, which rigorously assessed and successfully applied the MaxPERF system to enhance deposit permeability — including its deployment as part of the highly successful feasibility field test program. Given the demonstrated success of the technology, we look forward to continuing to work together with the team at Penetrators to use MaxPERF in this new commercial application,” added Sorba.

“Denison’s ISR uranium mining technique is an outstanding application for the MaxPERF technology — permeability exposure that will be exploited for both injectivity and productivity purposes. Penetrators is very pleased with the relationship we have built with Denison and this partnership is a positive next step,” said Dwayne West, president of Penetrators.

Permeability enhancement techniques, such as the use of the MaxPERF tool, are designed to improve hydraulic responses and inter-well connectivity within an ISR mining pattern, essentially engineering additional access to the natural permeability within the deposit. The MaxPERF tool has been successfully deployed several times as a method of permeability enhancement in ISR field studies conducted on the company’s potential ISR mining projects, including at Denison’s flagship Phoenix uranium deposit.

Denison Mines 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 percent 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 Saskatchewan also include a 22.5 percent ownership interest in the McClean Lake joint venture, which owns several uranium deposits and the McClean Lake uranium mill, contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17 percent interest in the Midwest Main and Midwest A deposits, and a 67.41 percent interest in the THT and Huskie deposits on the Waterbury Lake property.

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