Global Atomic Provides Dasa Project Drilling Update – QNT Press Release


TORONTO, Nov. 28, 2022 /CNW/ – Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX:GLO) (OTCQX:GLATF) (Frankfurt: G12) is pleased to announce the Company’s fourth update on the completed 16,000-meter drill program at the Dasa Project in the Republic of Nigerincluding an interim result of chemical assays completed to date.

HIGHLIGHTS
  • Hole ASDH 609 returned 43.6m @ 30,581 ppm eU3O8 from 549.2m
    • Incl. 3.40m @ 74,854 ppm eU3O8 (7.48% eU3O8) from 550.3m and 0.70m @ 136,307 ppm eU3O8 (13.63% eU3O8) from 551.3m
    • Incl. 4.48m @ 63,790 ppm eU3O8 (6.38% eU3O8) from 559.9m
    • Incl. 11m @ 58,879 ppm eU3O8 (5.89% eU3O8) from 578.2m and 1.5m @ 110,563 ppm eU3O8 (11.48% eU3O8) from 586.3m
  • Assay results are returning U3O8 grades averaging 10% above the initial published probe intersects

Global Atomic President and CEO, Stephen G. Roman stated, “Our recent drill program was very successful and will add to the Dasa Project mineral resource as well as result in a significant conversion of Inferred resources to the Measured and Indicated categories.”

“The probe results were excellent, and it is noteworthy that assay results show even higher grades. Once all the assays are complete, a revised Mineral Resource Estimate will be calculated in Q1 2023 and Dasa’s revised mine plan will follow. The exploration team under the The guidance of Mr. Christophe Din, the Company’s Exploration Manager in Niger, is to be congratulated for their strategic planning and completion of this very successful infill and exploration drill program.”

“Underground development is progressing at Dasa since the initial portal blast on November 5the th. Project financing discussions are progressing to fund the construction of the mill. The camp has been significantly modernized and expanded to accommodate 150 mining crew and support staff, comprised of experienced Nigerian miners from the recently closed COMINAK operation and young local, unskilled will benefit from our training and apprenticeship programs. We remain on schedule to produce yellowcake for delivery to utilities in early 2025.”

The additional 1,000 meters of drilling extended westward by 150 meters (see Figure 1) the high-grade envelope from hole ASDH608 announced in the third update of the 15,000-meter drill program (August 31st2022 release).

Figure 1.

The drilling confirmed the continuity of the graben mineralization and the connectivity of Zone 4 and Zone 5 to the northern down dip of Zone 3. Hole ASDH611, was drilled on an azimuth of north 330 degrees to crosscut the mineralized body. Other holes in this trend were drilled vertically to fully define the sedimentary package and determine the stratigraphy of the mineralization. The next drill program will be designed to determine the northern extension of this high-grade mineralization and to convert the resource categories in this area from Inferred to Measured and Indicated .

The significant intersections of the last three holes of the program are outlined in Table 1.

Hole ID

zone

From (meters)

To (meters)

interval (meters

eU3O8 (ppm)

eU3O8 (%)

ASDH609

1

481.9

513.7

31.8

587

0.06

Incl.

506.9

509.6

2.7

2,029

0.20

2

537.4

539.6

2.2

333

0.03

3

549.2

592.8

43.6

30,581

3.06

Incl.

550.3

553.7

3.4

74,854

7.49

Incl.

551.3

552.0

0.7

136,307

13.63

Incl.

559.9

564.3

4.4

63,790

6.38

Incl.

563.0

563.6

0.6

117,423

11.74

Full story available on Benzinga.com



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