White Canyon Uranium Ltd. (TSX VENTURE:WU)(ASX:WCU) has announced that toll milling commenced at Denison Mines Corp.'s (TSX:DML)(NYSE Amex:DNN) White Mesa mill on November 1, 2010 as planned.
The head grade of U3O8 processed is averaging 0.291% which is in line with company expectations.
Toll milling of White Canyon's uranium ore stockpiled at the White Mesa Mill is on target for completion in early December and approximately 40,000 tons (36,280 metric tonnes) of ore are expected to be processed.
As previously announced, White Canyon has engaged Denison Mines as sales agent for the Company's 'yellow-cake' concentrate which could be sold in to the spot market as early as December, 2010. The spot price for uranium has been performing exceptionally well in the past several months and was reported by UXC (The Uranium Consulting Company) on November 23, 2010 at $60.50/pound.
White Canyon Uranium Limited listed in March 2008 and has fast tracked to become an advanced uranium production company holding 100% interest in multiple mining projects in Southern Utah, USA which comprise approximately 15,000 acres of mining claims and mineral leases. The Daneros Mine is White Canyon's first mine to be put into production.
Denison Mines Corporation is a diversified, intermediate uranium producer and operates the only Uranium/vanadium mill in the United States, the White Mesa Mill, near Blanding Utah.
Competent Persons Statement
Greg Burns has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Greg Burns consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Source: White Canyon Uranium Ltd.