Denison Mines Corp.said July 19 that it has started work on a pre-feasibility study for its 60%-ownedWheeler River propertyin Saskatchewan, during the second quarter.
The company released a preliminaryeconomic assessment for the project in April, which pegged a base casepretax net present value of C$513 million at an internal rate of return of 20.4%,on a 100% ownership basis.
Total CapEx was estimated at C$1.10 billion with payback in threeyears.
In addition, the TSX-listed company is conducting an initialinfill drill program at the Gryphon deposit, aiming to upgrade inferred resourcesto the indicated category, which is a key step in completing the pre-feasibilitystudy.
The first infill drill hole at the deposit intersected 2.4% eU3O8over 7.3 meters, which supports earlier high-grade results from the deposit.