Energy

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTC: QX: GLATF) (Frankfurt: G12) is pleased to announce the Company's third update on the 15,000-meter drill program that commenced September 2021 at the Dasa Project in the Republic of Niger.

HIGHLIGHTS:

Hole ID

From (meters)

To (meters)

Interval
(meters)

eU3O8 (ppm)

eU3O8 (%)

ASDH604

436.8

555.1

118.3

1,854

0.19

Incl.

507.1

526.4

19.3

7,804

0.78

Incl.

509.8

514.2

4.4

10,064

1.01

Incl.

519.7

524.1

4.4

11,428

1.14

Incl.

520.4

521.2

0.8

21,286

2.13

ASDH608

546.6

632.3

85.7

3,405

0.34

Incl.

611.0

631.0

20.0

11,423

1.14

Incl.

614.1

617.1

3.0

26,446

2.64

Incl.

616.1

616.6

0.5

55,698

5.57

Incl.

627.3

630.3

3.0

20,522

2.05

Table 1.

Global Atomic President and CEO, Stephen G. Roman stated, "The results of the Dasa Drill Program have exceeded our expectations. Previously announced drill holes expanded Zones 2 and 3 by approximately 3 times and the most recent holes have extended this contiguous part of the ore body to Zone 4. We have decided to add an additional 1,000 meters to the drill program to further expand the Indicated Resources on strike."

"The Dasa deposit continues to impress as we better define the extent of this truly amazing orebody and look forward to our updated Mineral Resource Estimate and updated Mine Plan once all the work has been completed."

The current drill program at Dasa was designed to infill and expand the Dasa orebody and upgrade Inferred Mineral Resources to the Indicated Resource Category that would then qualify for Mineral Reserves once the updated Mine Plan is completed. As previously announced, based on 25-metre spacing around Zones 2 and 3 the Program has succeeded in extending Zone 3 with additional high-grade mineralization. The most recent drilling focused on 50-metre spacing to expand Zone 4. This has now been achieved with the successful expansion of Zone 4, filling in the gap between Zones 3 and 4 (See Figure 1).

Figure 1 - Global Atomic - Dasa Longitudinal Section N60 (CNW Group/Global Atomic Corporation)

The U 3 O 8 equivalent values indicated in Tables 1 and 2 were derived using a Gamma Probe. Final results will be more precisely defined with chemical assays being completed at ALS Labs in North Vancouver, Canada . Hole ASDH607 is within the targeted envelope, but due to intense alteration was not mineralized and therefor excluded from Table 2.

On the strength of results from the overall drill program, Global Atomic will update the Dasa mineral resource estimate and update the Phase I Mine Plan with a number of positive benefits to Global Atomic including larger mining Zones, reduced underground development work between the Zones and an increase in mineable reserves. Work has already begun to update the Mineral Resource Estimate. The Company was planning to update the Mineral Reserve Estimate and revise the Phase 1 Mine Plan by the end of 2022, however, given the positive results and the expanded drill program, the timing for completion of this work will be during Q1, 2023.

Hole ID

From (meters)

To (meters)

Interval
(meters)

eU3O8 (ppm)

eU3O8 (%)

ASDH604

436.8

555.1

118.3

1,854

0.19

Incl.

507.1

526.4

19.3

7,804

0.78

Incl.

509.8

514.2

4.4

10,064

1.01

Incl.

519.7

524.1

4.4

11,428

1.14

Incl.

520.4

521.2

0.8

21,286

2.13

ASDH605

521.8

563.6

41.8

1,292

0.13


555.2

562.8

7.6

4,750

0.48

Incl.

560.0

561.0

1.0

11,447

1.14

Incl.

560.4

560.6

0.2

20,423

2.04

DADH362

364.5

382.0

17.5

324

0.03


406.7

420.7

13.9

1,898

0.19

Incl.

408.0

410.0

2.0

3,872

0.39

Incl.

412.2

414.2

2.0

4,560

0.46

Incl.

412.8

413.2

0.4

10,416

1.04


425.5

426.7

1.2

622

0.06

DADH391

427.1

455.7

28.6

467

0.05


463.5

486.6

23.1

330

0.03


490.4

526.1

35.7

598

0.06

Incl.

514.2

514.6

0.4

4,586

0.46

Incl.

547.2

548.7

1.5

2,773

0.28

Incl.

552.6

553.8

1.2

6,634

0.66

Incl.

553.0

553.6

0.6

10,241

1.02

Incl.

558.3

566.2

7.9

4,337

0.43

Incl.

558.4

559.7

1.3

10,250

1.03

Incl.

563.1

563.6

0.5

12,137

1.21

ASDH606

565.5

590.9

25.4

3,437

0.34

Incl.

571.5

582.5

11.0

6,415

0.64

Incl.

579.9

582.5

2.6

12,914

1.29

Incl.

581.5

582.0

0.5

30,505

3.05

Incl.

587.8

588.3

0.5

6,528

0.65

ASDH608

538.2

542.7

4.5

483

0.05


546.6

632.3

85.7

3,405

0.34

Incl.

611.0

631.0

20.0

11,423

1.14

Incl.

614.1

617.1

3.0

26,446

2.64

Incl.

616.1

616.6

0.5

55,698

5.57

Incl.

627.3

630.3

3.0

20,522

2.05

Table 2.

QP Statement

This news release has been reviewed and approved by Ronald S. Halas , COO of Global Atomic, who is a "qualified person" under National Instrument 43-101 – Standards of Disclosure for Mineral Properties.

About Global Atomic

Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger , the Dasa Project is fully permitted for commercial production. The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates Yellowcake production to commence by the end of 2024. Mine excavation began in Q1 2022.

Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey . The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce 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") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and  phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved".  All information contained in this news release, other than statements of current or historical fact, is forward-looking information. Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

Global Atomic Corporation logo (CNW Group/Global Atomic Corporation)

SOURCE Global Atomic Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2022/31/c1653.html

News Provided by Canada Newswire via QuoteMedia

GLO:CA,GLATF
tihange nuclear power station in belgium

VIDEO — Fabi Lara: Uranium Thesis Playing Out, Stock Strategies for the Sector

Fabi Lara: Uranium Thesis is Playing Out, Stock Strategies for the Sectoryoutu.be

As positive catalysts emerge more and more rapidly, the uranium sector is attracting renewed interest.

Both retail and institutional investors are picking up on the opportunity attached to the commodity, which has spent most of the past decade in a bear market, suffering from oversupply and poor public perception after the 2011 Fukushima nuclear accident.

Speaking to the Investing News Network, Fabi Lara, an investor and marketing consultant for public companies, explained how she stayed patient after entering the uranium market all the way back in 2014. Being able to make gains even as negative sentiment weighed on the sector was helpful; however, what really kept her going was the fact that the uranium thesis hasn't played out yet.

Keep reading...Show less
Valor Resources

11 New Uranium Targets In The Athabasca Basin Uncovered Through Modern Exploration Surveys

Valor Resources Limited (Valor) or (the Company) (ASX:VAL) is pleased to advise that it has completed the interpretation of airborne gravity gradiometry survey data at the Hook Lake Uranium Project situated on the eastern flank of the Athabasca Basin (see Figure 2).
Keep reading...Show less
Toro Energy

Capex Finalised For Stand-Alone Lake Maitland Uranium-Vanadium Operation

Toro Energy Limited (ASX: TOE) (‘the Company’ or ‘Toro’) is pleased to announce that the scoping level capital expenditure (CAPEX) estimation for its proposed stand-alone Lake Maitland Uranium-Vanadium operation has now been completed by mining engineers at SRK Consulting Australasia (SRK) and metallurgical and processing engineers at Strategic Metallurgy.
Keep reading...Show less

Global Atomic Shareholders Exercise Warrants and Contribute Over C$10 Million to the Funding of the Dasa Project

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (Frankfurt: G12) is pleased to announce the successful conclusion of shareholders exercising warrants that were issued along with common shares in March 2021 primarily to advance the Company's Dasa Uranium Project in the Republic of Niger . Since these warrants were issued, 3.12 million C$3 investor warrants were exercised for gross proceeds of C$9.36 million .  An additional 375,000 broker warrants were also exercised.

Global Atomic Corporation (CNW Group/Global Atomic Corporation)

President and CEO of Global Atomic, Stephen Roman , commented, " The cash from these warrants form part of our equity contribution for the funding of the Dasa Project. Equity contributions on the Project Financing Package will also include our 2022 capital expenditures at Dasa and will include the expected cash contributions from our Turkish Zinc JV as well as the potential exercise of additional warrants that expire in June 2023.  We expect the debt portion of Dasa Project funding to conclude in Q1,2023, contingent upon the successful completion of our banking syndicate's due diligence work, which is currently underway. "

About Global Atomic

Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration.  With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger , the Dasa Project is fully permitted for commercial production.  The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates Yellowcake production to commence by the end of 2024.  Mine excavation began in Q1 2022.

Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey . The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce 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") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

The information in this release may contain forward-looking information under applicable securities laws.  Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.   Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and  phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved".  All information contained in this news release, other than statements of current or historical fact, is forward-looking information.   Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made.  Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance upon forward-looking statements.  Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law.  Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

SOURCE Global Atomic Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/20/c0579.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

GoviEx Uranium Announces Positive Feasibility Study Results for Madaouela Uranium Project

  • Feasibility Study brings GoviEx closer to its principal objective of becoming a significant uranium producer
  • Solid results coupled with strengthening sentiment in favour of nuclear and shortage of supply underpin project development

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx or the Company") is pleased to announce the results of its Feasibility Study ("FS") representing an important milestone as GoviEx advances the Madaouela Uranium Project (the "Project") towards Project financing and development.

The FS was prepared by SRK Consulting (UK) Limited and SGS Bateman (Pty) Ltd., in the format of the Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") with the support of the Company's internal technical team. The Feasibility Study will be filed by GoviEx under its profile at www.sedar.com within 45 days from the date of this news release.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
large piece of uranium on a stone

Uranium Stocks: 5 Biggest Companies in 2022

Uranium is an important commodity in the energy sector. As the value of this nuclear fuel has continued to rise, investors have become more interested in the uranium market.

Uranium began this year at US$39.50 per pound, and prices tracked much higher during the first quarter, pushing the energy fuel to an 11 year high of US$63.50 in mid-April.

Various factors have pushed prices upward. Production declines caused by COVID-19-related closures in 2020 have played a role, as has widespread demand for nuclear power generation as a clean energy source.

Keep reading...Show less

Latest Press Releases

Related News

×