Global Atomic Corporation: Technical Report on DASA Uranium Project Filed on SEDAR
TORONTO, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12), is pleased to announce that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report in respect of the DASA Mineral Resource Estimate (“MRE”) announced on July 18, 2019. The NI 43-101 Technical Report can be viewed under the Company's issuer profile on SEDAR at www.sedar.com and on the Company’s website at www.globalatomiccorp.com. The new Mineral Resource Estimate (“MRE”), was calculated by CSA Global Pty. Ltd., (“CSA Global”), of Perth, Western Australia, incorporating drill, probe and chemical assay data compiled from work programs on the DASA Project during 2017, 2018 and 2019. In addition, all geotechnical data derived from drill core was incorporated, which has clearly defined the structure and stratigraphic boundaries of the Block Model.
- Indicated Resource Increases by 56% to 101.6 million pounds eU3O8 at 1,752 ppm
- Inferred Resource Increases by 81% to 87.6 million pounds eU3O8 at 1,781 ppm
- Using a 1,200 ppm cut-off, the grade/tonnage report estimates 78.0 million pounds eU3O8 at 4,483ppm in the Indicated Category, an increase of 30% over the previous report
- Using a 1,200 ppm cut-off, the grade/tonnage report estimates 69.9 million pounds eU3O8 at 3,783ppm in the Inferred Category, an increase of 45% over the previous report
- The DASA Deposit remains open along strike and down dip and further expansion drilling is recommended by CSA Global
About Global Atomic
Global Atomic is a TSX listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production.
Global Atomics’ Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km2. Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration.
Global Atomics’ Base Metals Division holds a 49% interest in the BST joint venture which operates a re-processing facility located in Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust) into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”), holds a 51% interest in and is the operator of BST. Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of the European EAFD market with facilities located throughout Europe and Korea.
|Stephen G. Roman||Merlin Marr-Johnson|
|Chairman, President & CEO||Executive Vice President|
|Tel: +1 (416) 368-3949||Tel: +44 (20) 7389-5023|
The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.