Global Atomic Announces Uranium Mineralization Continues to Grow Along Strike and Down Dip at DASA Project
August 15 2018 - 5:00PM
Global Atomic Corporation (“Global Atomic” or the “Company”),
(TSX-V: GLO / OTCBB: SYIFF / Frankfurt: G12) is pleased to announce
the following exploration update from its flagship DASA Project in
the Republic of Niger, West Africa.
Highlights:
- Drilling at DASA along strike and down dip has been successful
in confirming Global Atomic’s geologic interpretation of the
deposit and has identified five distinct areas of new
mineralization.
- High grade mineralization was intersected at the Tegama Hill
Main Zone, hole ASDH 577 returned 3,353 ppm eU3O8 over 69.8 metres,
including 38,653 (3.9%) eU3O8 over 4.6 metres.
- Southwest Extension Zone 1 proved to have excellent
mineralization in the Teloua formation, with hole ASDH 558
returning 19,933 (2.0%) eU3O8 over 9.5 metres, which included
54,101 (5.4%) eU3O8 over 3.3 metres. ASDH 574 returned 1,737
ppm U3O8 over 85.9 metres, including 5,597 ppm eU3O8 over 3.6
metres.
Stephen G. Roman, President and CEO, commented
“Our geological model has proven correct with new high grade zones
identified, which could have a substantial impact on the size of
the DASA Deposit. Our next phase of drilling will focus on
these extensions and a new resource will be calculated once Phase 2
drilling is completed. Currently, we continue to develop our
Flank Zone area with CSA Global, with a PEA expected in
September. The Flank Zone will be the target of initial
operations in order to supply Orano Mining with mineralized
material under the MOU signed in 2017” said Mr. Roman.
The following table summarizes latest drilling of the
Tegama Hill extensions at DASA:
Zone |
Hole |
From (meters) – To(meters) |
Length (meters) |
Grade (ppm/% eU3O8) |
SouthwestExtension Zones 1and 2 |
ASDH 556GincludingASDH 558includingASDH 574EincludingincludingASDH
578FincludingincludingincludingincludingASDH 578G |
704.4 – 752.2704.8 – 706.2404.6 – 414.1406.1 – 409.4490.1 –
576.0497.7 – 501.3511.5 – 517.2717.0 – 768.7718.8 -721.5731.7 –
734.5765.2 – 768.4765.7 – 768.3787.6 – 799.4 |
47.81.49.53.385.93.65.751.72.72.83.22.611.8 |
1,80613,511 (1.4%)19,933 (2.0%)54,101
(5.4%)1,7375,5974,4842,4257,7565,53611,867 (1.4%)15,308
(1.5%)1,478 |
Tegama Hill SouthZone |
ASDH 559BincludingASDH 559Iincluding |
451.1 – 459.3453.2 – 455.1661.0 -677.2664.9 – 667.0 |
8.21.916.22.1 |
4,82020,538 (2.1%)2,09813,286 (1.3%) |
Tegama Hill MainZone |
ASDH 577EincludingDADH 388CincludingDADH
389DincludingincludingincludingincludingDADH 390AincludingDADH
390BincludingDADH 390Cincludingincluding |
521.2 – 591.0552.9 -557.5494.2 – 561.0511.7 – 513.4492.1 –
589.1498.7 – 500.3543.2 – 544.3546.3 – 550.0585.2 – 587.6420.6 –
437.5431.1 – 433.9505.6 – 525.3513.6 – 516.2529.6 – 547.7539.4 –
541.4543.3 – 544.8 |
69.84.666.81.697.01.61.13.72.416.92.819.72.618.12.01.5 |
3,35338,653 (3.8%)1,2289,3802,34812,752 (1.3%)21,285 (2.1%)13,875
(1.4%)8,4651,1755,3481,0172,5768482,3932,018 |
Northeast ExtensionZone |
DADH 379CDADH 381Cincludingincluding |
430.5 – 435.5359.0 – 378.0360.5 – 363.5368.0 – 369.0 |
5.019.03.01.0 |
1,4541,0101,8632,455 |
* These are preliminary results based on gamma
probing. Final results will be released once chemical assaying is
completed at ALS Global in Vancouver, Canada. Terratec AG probed
the holes using the Electomind DIL 1125 gamma probe and a Geiger
Mueller probe UEP 1805 was used for high grades.
Mr. George A. Flach, P.Geo., VP Exploration,
commented “The strataform nature of this sandstone deposit shows
many intersections of mineralization that can be seen in the
accompanying table. The exciting discoveries we have made
include high grades in all units within the Jurassic, Triassic and
Carboniferous sandstone horizons.”
QP StatementGeorge 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 AtomicGlobal
Atomic is a TSX Venture listed company providing a unique
combination of high grade uranium development and cash flowing zinc
concentrate production.
The Company’s Uranium Division includes six
exploration permits in the Republic of Niger covering an area of
approximately 750 km2. Uranium mineralization has been
identified on each of the permits, with the most significant
discovery being the DASA deposit situated on the Adrar Emoles III
concession, discovered in 2010 by Global Atomic geologists through
grassroots field exploration.
Global Atomics’ Base Metals Division holds a 49%
interest in Befesa Silvermet Turkey, S.L. (“BST”), which operates a
processing facility located in Iskenderun, Turkey that converts
Electric Arc Furnace Dust into a high-grade zinc oxide concentrate
and 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 BST. Befesa is a market leader in EAFD
recycling, capturing approximately 50% of the European EAFD market
with facilities located throughout Europe and Korea.
Key contacts: |
|
|
|
Stephen G. Roman |
George A. Flach,
P.Geo. |
Chairman, President
& CEO |
Vice President,
Exploration |
Tel: (416)
368-3949 |
Tel: (416)
368-3949 |
Email:
sgr@globalatomiccorp.com |
Email:
gaflach@globalatomiccorp.com |
The information in this release may contain forward-looking
information under applicable securities laws. This forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ
materially from those implied by the forward-looking information.
Factors that may cause actual results to vary include, but are not
limited to, inaccurate assumptions concerning the exploration for
and development of mineral deposits, political instability,
currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of
obtaining necessary licenses and permits, changes in general
economic conditions or conditions in the financial markets and the
inability to raise additional financing. Readers are cautioned not
to place undue reliance on this forward-looking
information. The Company does not
assume the obligation to revise or update this forward-looking
information after the date of this release or to revise such
information to reflect the occurrence of future unanticipated
events, except as may be required under applicable securities
laws.
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
news release.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/719ae002-5d58-41e9-822e-d99abd150bb0
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