Global Atomic Drilling Continues to Hit Offscale, High Grade Intercepts in the Flank Zone of the DASA Project
05 April 2018 - 9:00PM
Global Atomic Corporation (“Global Atomic” or the “Company”)
(TSX-V:GLO) is pleased to report continued excellent drill results,
including “offscale” intercepts in the Flank Zone area of the DASA
deposit (“DASA”). The values indicated below include sections that
are at the maximum level of the gamma probe. Chemical
assaying will be required to ascertain the true uranium grade,
which will be higher than these reported in the table below.
In drill hole ASDH 543 the probe was saturated for 21 meters from
221.5 meters to 242.5 meters and for 13 meters in hole ASDH 552
from 278 meters to 292 meters. Drill core is presently being
prepped for assay at ALS Global in Vancouver. A
Geiger-Mueller (“G-M”) high grade probe is presently being brought
to site in order to better estimate the high grade values prior to
assaying.
Four additional holes drilled are as
follows:
Hole |
From (meters) – To (meters) |
Length (meters) |
Grade (ppm eU3O8) |
ASDH 542including |
343.0 – 359.0351.5 – 358.5 |
16.07.0 |
1,392.52,259.3 |
ASDH 543includingincluding |
221.0 – 296.0221.5 – 226.0233.0 – 242.5 |
75.04.509.50 |
5,041.210,361.0 (saturated)14,363.0 (saturated) |
ASDH 548including |
118.0 – 141.5122.5 – 127.0 |
23.54.5 |
1,073.82,027.0 |
ASDH 552 including including |
243.5 – 292.0245.0 – 265.5275.5 – 281.5 |
48.520.56.0 |
4,038.25,681.56,848.3 (saturated) |
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Terratic AG probed the holes using the
Electomind DIL 1125 gamma probe
The holes were drilled at an angle from the
hanging wall side of the Graben to intersect the Flank Zone (see
attached drawing).
3D Model: DASA Open Pit and Underground
Resources Model With Planned Drilling is available at
http://resource.globenewswire.com/Resource/Download/2accb369-fe93-41ec-80ca-25f168383a8b
Drill Hole Longitudinal Section (Press
Release – February 22, 2018) is available at
http://resource.globenewswire.com/Resource/Download/5d9f9b5b-72b6-4f3a-b2bf-eb908621f748
Drill Hole Longitudinal Section
1950 is available at
http://resource.globenewswire.com/Resource/Download/f6242685-4c71-4a58-8d32-455dde72c260
Engagement of CSA Global Pty.
Ltd.Global Atomic has engaged CSA Global Pty. Ltd. (“CSA”)
to update the Mineral Resource estimates for the project and assess
the potential of open pit mining the Flank Zone. It is Global
Atomic’s intention to complete adequate drilling over the next
three months in order to develop an open pitable resource in the
Indicated Resources category. Once sufficient drilling has
been completed, an NI 43-101 compliant technical report will be
completed in order to finalize a plan to begin shipments of
mineralized material to Orano Mining’s milling facility in Arlit
(formerly known as AREVA Mines).
Stock OptionsGlobal Atomic has
granted 5,535,908 stock options to acquire common shares of Global
Atomic to Directors, management, consultants and employees. The
stock options are exercisable at $0.25 for a period of five years
from issuance.
QP Statement George A. Flach,
Vice President of Exploration, P.Geo. is the Qualified Person (QP)
as defined in National Instrument 43-101 and has prepared,
supervised the preparation and approved the scientific technical
disclosure in this news release.
About Global Atomic Global
Atomic is a TSX Venture listed company providing a unique
combination of high grade uranium development and cash flowing zinc
concentrate production. Global Atomic’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 Atomic’s Base Metals Division holds a 49%
interest in the BST joint venture, operating a facility located in
Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust)
into 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 BST. Befesa is a market leader in EAFD
recycling, capturing approximately 45% to 50% of European EAFD
market with facilities located throughout Europe and Korea.
Our website has been updated! Please visit
www.GlobalAtomicCorp.com for further
information.
Key
contacts: |
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Stephen G.
RomanChairman, President & CEOTel: (416) 368-3949Email:
sgr@globalatomiccorp.com |
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George A.
Flach, P.Geo.Vice President, ExplorationTel: (416) 368-3949 Email:
gaflach@globalatomiccorp.com |
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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.
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