Global Atomic Provides Dasa Project Drilling Update
NEWS RELEASE
Global Atomic Provides Dasa Project Drilling Update
Toronto, ON, November 28, 2022: Global Atomic Corporation (“Global Atomic” or the
“Company”), (TSX:GLO, OTC:QX: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
Niger, including an interim result of chemical assays completed to date.
HIGHLIGHTS
• Hole ASDH 609 returned 43.6m @ 30,581 ppm eU3O8 from 549.2m
o 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
o Incl. 4.48m @ 63,790 ppm eU3O8 (6.38% eU3O8) from 559.9m
o 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 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 5th.
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 Nigerien miners from the recently closed COMINAK operation and
young local, unskilled labourers who 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 31st, 2022 release).
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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 sediment ary 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.
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Hole ID Zone From (meters) To (meters) nterval (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
Incl. 578.2 589.2 11.0 58,879 5.89
Incl. 586.3 587.8 1.5 110,563 11.06
Incl. 586.4 587.6 1.2 114,835 11.48
ASDH610 1 462.1 491.8 29.7 1,384 0.14
Incl 484.3 485.4 1.1 7,319 0.73
Incl 489.1 490.9 1.8 5,159 0.52
2 509.0 521.7 12.7 2,809 0.28
Incl 515.6 520.8 5.2 5,161 0.52
3 540.2 560.2 20.0 1,412 0.14
Incl 540.7 541.8 1.1 10,467 1.05
Incl 557.2 559.6 2.4 2,883 0.29
4 568.8 604.3 35.5 1,233 0.12
Incl 569.7 577.2 7.5 2,911 0.29
Incl 585.4 587.3 1.9 2,541 0.25
Incl 588.9 591.5 2.6 3,355 0.34
5 612.1 633.4 21.3 2,068 0.21
Incl 613.2 615.0 1.8 2,636 0.26
Incl 627.5 632.5 5.0 5,042 0.50
ASDH611 3 598.2 631.3 33.1 1,003 0.10
Incl. 618.7 620.7 2.0 4,193 0.42
4 635.9 641.6 5.7 2,250 0.22
Incl. 638.4 638.9 0.5 12,847 1.28
Table 2.
Note: As announced in the August 31, 2022, news release, the U3O8 equivalent values were derived using a Gamma
Probe. As common practice, the drill cores are being assayed to accurately derive the contained eU3O8.
The drilling campaign generated a total of 5,312 mineralized core samples , including
approximately 10% relating to control samples such as standards, duplicates, and blanks using
certified reference material. This is standard practice in the industry.
The samples are mechanically prepared in an accredited laboratory in Niger and assaying is done
on pulps at ALS Labs in North Vancouver, Canada. Approximately 58% of the samples have
been assayed to date by ALS Vancouver and results are above expectation: the a ssays are
returning values averaging 10% above the probe equivalent U3O8 (Figure 2).
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Figure 2. ASDH599: U3O8 assay results for this hole are as high as 25% greater than eU3O8 probe results. eU3O8 are
equivalent U3O8 as measured by Gamma probe results.
Based on this positive correlation, an increase in the equivalent U3O8 is expected to be derived
from the Gamma Probe prior to the calculation of an updated Mineral Resource Estimate (“MRE”).
The remaining core samples are being assayed with final results expected by end of 2022. The
resource update will be reflected in a new MRE and the Company will subsequently revise the
Phase 1 Mine Plan.
QP Statement
This news release has been reviewed and approved by Mr. A. Christophe Din, MSc, MAusIMM,
Exploration Manager at Global Atomic’s subsidiary, SOMIDA, in the Republic of Niger, who is a
“qualified person” under National Instrument 43 -101 – Standards of Disclosure for Mineral
Properties. Mr. Din holds a Diplôme de Formation Spécialisée from École Nationale Supérieure
des Mines de Paris and is a member of the Australian Institute of Geoscientists.
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
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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 delivery to utilities to commence in 2025. 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) 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]
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