Toronto, ON, September 28, 2020: Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, FRANKFURT: G12, OTCQX: GLATF) announced today that the Company has submitted the Mining Permit Application for its Dasa Uranium Project in Niger, as planned.
Global Atomic in Niger and History of the Dasa Project:
o Global Atomic began negotiations with the Government of the Republic of Niger in 2005. In 2006, 4 permits were granted and in 2007 an additional two permits were granted. Field activities commenced during 2006.
o The Company has discovered four deposits on four permits, the most significant being the Dasa Project on the Adrar Emoles 3 permit in 2010.
o Since operations began in Niger, in excess of US$50 million has been spent on the exploration and development of these deposits.
o The Dasa Project is a Tier 1 asset, with approximately 102 Mlb of uranium in the Indicated and 88 Mlbs of uranium in the Inferred categories, as stated in the July 2019 Technical Report, which is available on the Company website.
o Global Atomic believes strongly in local ESG initiatives with Company support including medical, education, food and water well drilling.
o In May 2020, the Company filed a Preliminary Economic Assessment using a Base Case uranium price of US$35/lb to mine the Flank Zone of the Dasa Project, as Phase 1, over 12 years, at an average AISC of less than US$19/lb to deliver an after-tax NPV8 of US$211 million and after-tax IRR of 26.6%.
o In Phase 1, Global Atomic plans to use conventional underground mining techniques and proven processing technology that is currently being used at existing uranium mines in Niger and targets an initial production of 44 Mlb.
Stephen Roman, President and CEO for Global Atomic commented, “COVID-19 has thrown many challenges at everyone in 2020, forcing us all to work virtually and deal with disruption in many parts of our lives. In the face of these challenges, the Company has made considerable progress on the Dasa Project this year. We recently completed a Development and Operating Plan, an Environmental Impact Statement, as well as a Hydrogeological study, all of which are key components of our Mining Permit Application.”
The scientific and technical disclosures in this news release have been reviewed and approved by Ronald S. Halas, P.Eng. and George A. Flach, P.Geo. who are “qualified persons” 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. The Company is moving the Dasa Project ahead rapidly, having recently completed the key milestone of submitting the mining permit application to the Niger government.
Global Atomics’ Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (“BST”) Joint Venture, which operates a new, state of the art processing facility, 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 and Asia.
Für weitere Informationen:
Stephen G. Roman
Chairman, President & CEO
Tel.: +1-416-368 3949
VP Investor Relations
Tel: +1 (416) 558-3858
Kontakt im deutschsprachigen Raum:
73728 Esslingen am Neckar
Tel. +49-711-82 09 72 11
Fax +49-711-82 09 72 15
Quelle: Unternehmens Web-Seiten