During the last check Friday morning, Denison Mines Corp. (DNN) was down -4.35% at $1.1 per share. At the end of last trading session, DNN stock gained 0.88% to $1.15. DNN stock’s price range was between $1.11 and $1.17. The DNN stock traded 6.01 million shares, which was below its daily average of 14.48 million shares over the last 100 days. Within the past five days, DNN shares gained 11.65%, while in the past month they lost -5.74%. Even after providing an update on its field test activities, DNN stock declined.

What was the latest DNN update?

In northern Saskatchewan, Canada, DNN Stock is a company that focuses on uranium exploration and development. Additionally, DNN also has a 22.5% ownership stake in McClean Lake joint venture (“MLJV”) in the Athabasca Basin. A toll milling agreement is in place to process the ore from the Cigar Lake mine through the DNN JV’s uranium deposits and McClean Lake uranium mill. In the Waterbury Lake property, DNN Stock holds a 66.90% interest in the Heldeth Té, the Midwest Main and Midwest A deposits, as well as a 25.17 percent interest in the Midwest A deposit.

Yesterday, DNN Stock provided an update on the In-Situ Recovery (“ISR”) field tests. This update was related to the Phase 1 development of the high-grade Phoenix uranium deposit (“Phoenix”) at DNN’s 90% owned Wheeler River Uranium Project.

• Further uranium mineralization was also discovered by DNN; it contained 22.0% eU3O8 over an 8.6 metre section of drill hole GWR-045.
• In the Phoenix project, the mineralization has been located outside of DNN’s high-grade resource domain associated with Zone A and Phase 1 of the phased mine development.
• As part of the 2021 ISR field test program, DNN has successfully completed a substantial portion of it safely.
• Part of this project, DNN will install nine of the eleven planned monitoring wells at commercial scale and five major test wells in our five-spot testing pattern (“Test Pattern”).
• Hydrogeologic testing and enhancement efforts undertaken to date by DNN within the Test Pattern are encouraging and will serve to inform the proposed full-scale tracer test in the latter stages of the program.
• As a result of the tracer test, DNN stock plans to provide a better understanding of what the operating conditions were in Phase 1 and provide DNN with critical information when planning the lixiviant test for 2022.
• As a key milestone for reducing risk, DNN considers it a crucial achievement.

A potential benefit of DNN Stock:

Denison (DNN) is quite encouraged by the discovery of a thick interval of high-grade uranium mineralization in GWR-045. With this project, high-quality mineral resources for DNN stock can be meaningfully increased within the area currently slated for mining operations at Phoenix as part of the ISR program.