Positive Initial Report for Dasa Project 2021/2022 Drill Program Including Hole ASDH592 65 meters at 5,493 ppm including 12.5 meters at 14,142 ppm
NEWS RELEASE
Positive Initial Report for Dasa Project 2021/2022 Drill Program
Including Hole ASDH592 65 meters at 5,493 ppm including 12.5 meters at 14,142 ppm
Toronto, ON, January 19, 2022: Global Atomic Corporation (“Global Atomic” or the “Company”)
(TSX: GLO, OTCQX: GLATF, FRANKFURT: G12 ) provides this initial report on the Company’s
15,000-meter drill program that commenced September 2021 at the Dasa Project.
The program at Dasa was designed to follow up on previously discovered uranium mineralization
proximal to Zone 3 of the current Feasibil ity Study Phase I Mine Plan and has succeeded in
extending Zone 3 with additional high-grade mineralization (see Figure 1). Approximately 6,000
meters have been drilled to date on 25-meter spacings between drill holes to support the
addition of mineral reserves and an updated mine plan.
Figure 1: Dasa Longitudinal section N60; New mining potential (20220112)
This extension to Zone 3 is not included in Dasa’s Reserve calculations as it was an Inferred
mineral resource (see Figure 2), based on wider-spaced drilling completed during previous drill
campaigns.
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Figure 2: Dasa contains substantial Inferred resources that infill drilling can convert into a Measured and Indicated resource.
Infill and step -out drilling completed since September has exceeded expectations and outlined
continuous mineralization over a strike length of 300 meters and a width of 80 meters. This Zone
3 extension will be applied to update the current Phase I Mine Plan and is expected to
substantially reduce the amount of underground development , lower capital and operating
expenses and extend the life of the Phase 1 Mine Plan.
Drilling is currently continuing in the northeast direction from Zone 3 to determine the potential
for up-dip extentions. The next target of the 2021/2022 Dasa drilling program will be in-fill drilling
between Zones 2A, 2B and 3 with the goal of converting this significant Inferred resource to the
Measured and Indicated resource categories.
The equivalent U3O8 indicated below were derived using a Gamma Probe. Core samples are
being prepared and will be shipped to ALS Geochemistry - North Vancouver, Canada for chemical
assaying as per usual protocols.
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Table 1: Significant intersections (2000 ppm eU3O8 cut-off allowing internal dilution of 3m where geology continuity proven)
Hole ID From (meters) To (meters) Interval (meters) eU3O8 (ppm)
ASDH589 478.60 578.40 99.80 2,615
Incl. 504.30 577.30 73.00 3,365
Incl. 535.50 577.30 41.80 4,306
ASDH590 478.60 553.20 74.60 2,086
Incl. 499.30 541.60 42.30 3,125
ASDH591 374.80 465.70 90.90 1,682
Incl. 436.80 464.60 27.80 3,419
Incl. 449.10 464.30 15.20 4,440
ASDH592 434.40 499.40 65.00 5,493
Incl. 484.80 497.30 12.50 14,142
ASDH593 359.10 398.40 39.30 1,231
Incl. 373.00 377.30 4.30 2,519
Incl. 390.10 391.80 1.70 4,973
408.10 432.40 24.30 999
Incl. 410.50 418.80 8.30 1,340
Incl. 418.10 418.60 0.50 2,256
ASDH594 386.30 449.90 63.60 2,007
Incl. 391.40 425.80 34.40 3,053
George Flach, VP Exploration stated, “ We are very encouraged with the results of our drill
program. Gamma probes show the same high grade eU308 values that define the Dasa Deposit.
We are approximately 40% through th is 15,000-meter drill program and look forward to
incorporating assay results into an updated mineral reserve and mine plan later this year.”
QP Statement
George A. Flach, Vice President of Exploration, P.Geo. is the Qualified Person (QP) as defined in
NI 43-101 and has prepared, supervised the preparation of, and approved the scientific technical
disclosure in this news release.
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.
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Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L.
(“BST”) Joint Vent ure, 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 E AFD 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 urani um; the
estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estima tes; the timing and
amount of estimated future production, development and exploration; cost of future activities; capital and operating expendit ures; 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 sec urities 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.