Global Atomic’s Dasa Drill Program Achieves 15,000-Metre Target, Successful Results Prompt Decision to Extend Program
NEWS RELEASE
Global Atomic’s Dasa Drill Program Achieves 15,000-Metre Target,
Successful Results Prompt Decision to Extend Program
Toronto, ON, August 31, 2022: 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).
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Figure 1.
The U3O8 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 202 2, however, given the positive results and the
expanded drill program, the timing for completion of this work will be during Q1, 2023.
Page 3 of 4
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.
Page 4 of 4
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 estimat es
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. (“Befes a”) 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.
Key contacts:
Stephen G. Roman
Chairman, President and CEO
Tel: +1 (416) 368-3949
Email: [email protected]
Bob Tait
VP Investor Relations
Tel: +1 (416) 558-3858
Email: [email protected]
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
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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
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