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Privately owned Global Atomic Fuels Corp. announced that Niger’s minister of mines has signed three-year renewals on the company’s six uranium exploration permits in the country.
Privately owned Global Atomic Fuels Corp. announced that Niger’s minister of mines has signed three-year renewals on the company’s six uranium exploration permits in the country.
As quoted in the press release:
Global Atomic is currently developing four uranium deposits in the country with the flagship DASA deposit currently undergoing a Preliminary Economic Assessment (PEA). The other 3 deposits, Isakanan, Dajy and Tin Negouran are currently less advanced.
As part of the DASA PEA program, Global Atomic has completed 110,000 meters of drilling including 22,000 meters of core drilling as well as advanced metallurgical, hydrogeological, environmental and geophysical studies. The current resource has been defined over a 1 km strike length however, Global Atomic’s exploration programs have defined a potential strike length of over four kilometers.
The DASA project is located on the main highway 80 km south of AREVA’s two operating uranium mines in Arlit which supply 30% of France’s uranium requirements. All infrastructure including roads, power and water are available at the DASA site.
Current studies are focused on a ramp access underground operation based on a 1,500 ppm cut-off grade which produces a blended headgrade of >3,400 ppm.
Drilling to date indicates in excess of a 10 year mine life at this grade, which would be economic even at current uranium prices. Should prices improve, a lower cut-off grade would increase the mineable tonnes and extend the mine life to over 20 years based on a 5,000,000 pound per year production rate.
Click here to read the full Global Atomic Fuels Corp. press release.