Global Atomic Triples Indicated Resource and Improves Grade at its Flagship DASA Project
06 June 2018 - 5:36AM
Global Atomic Corporation (“Global Atomic” or the “Company”),
(TSX-V:GLO) is pleased to announce an updated National Instrument
43-101 (“NI 43-101”) compliant Mineral Resource Estimate for DASA
Project (“DASA”) located in Niger, West Africa.
Global Atomic commissioned CSA Global Pty Ltd.
(“CSA Global”) to prepare an updated Mineral Resource Estimate
based on an additional 36 drill holes totalling approximately
15,000 meters drilled year-to-date. A majority of the
drilling has been concentrated on the high-grade Flank Zone, on the
southern side of the graben structure at depths of less than 350
meters. The highly successful drilling has led to improved
understanding of the deposit in this area, resulting in a
substantial resource upgrade.
Reflecting the successful drilling at the Flank
Zone, the updated mineral resource has been reported in two parts;
those that are likely to be pit constrained and deeper high-grade
material that is more suited to underground mining (Table 1).
Presently approximately 98.6% of the near surface resource is
categorized as Indicated Resources, enabling Global Atomic to
progress a more detailed technical study of the near-term economic
potential to be reported later in Q3 2018.
Stephen G. Roman, Chairman, President and CEO,
commented, “The work completed to-date has confirmed the geological
structure and continuity of the Flank Zone, while also improving
the overall grade of the deposit, particularly near surface.”
Mr. Roman added, “The next step is to complete an economic
assessment of both the near surface, pit constrained resources as
well as the underground resources.”
Table 1. Resource Estimate
Category |
Tonnes |
eU3O8 |
Contained metal |
Mt |
ppm |
Mlb |
Indicated – Pit Constrained |
7.08 |
3,251 |
50.8 |
Indicated – Underground |
2.5 |
2,553 |
14.1 |
Total Indicated |
9.59 |
3,068 |
64.8 |
Inferred – Pit Constrained |
0.26 |
1,135 |
0.7 |
Inferred – Underground |
8.18 |
2,647 |
47.7 |
Total Inferred |
8.44 |
2,600 |
48.4 |
* These results are based on gamma probing.
Final results will be released once chemical assaying is completed
at ALS Global in Vancouver, Canada.
- Mineral Resources are based on CIM definitions and is reported
as at 1st June 2018.
- Mineral Resources for pit constrained resources are estimated
within the limits of an ultimate pit shell
- Mineral Resources for underground resources are estimated
outside the limits of ultimate pit shell.
- A cut-off grade of 320 ppm eU3O8 has been applied for open pit
resources.
- A cut-off grade of 1200 ppm eU3O8 has been applied for
underground resources.
- A bulk density of 2.36t/m3 has been applied for all model
cells.
- Rows and columns may not add up exactly due to rounding.
Mineralization Interpretation
Drilling was completed at 50 meter x 50 meter
spacing with more densely drilled holes in the central part of the
deposit, particularly around the Flank Zone. Infill drilling
completed to-date targeted the southern Flank Zone of the graben
which previously had limited drilling. The additional
drilling improved confidence in the geological interpretation and
grade continuity which allowed a significant upgrade to the
resource classification in the drilled areas.
The deposit was modelled on 50 meter cross
sections oriented perpendicular to the strike of the deposit to
create a series of constraining resource wireframes. A block model
was created inside the wire frames using 20 meter x 20 meter x
4 meter parent blocks. Ordinary Kriging was used to
interpolate grades into the block model. The methodology used for
the mineral resource estimate was the same as that reported in the
CSA Global Report R186.2017 “NI 43-101 Technical Report, DASA
Uranium Project, Central Niger” filed on SEDAR in 2017. A
full technical report will be filed in July.
Pit Optimization
CSA Global also completed a conceptual pit
optimization study based on the updated block model, to assess the
scale of eventual economic extraction management envisages as an
open pit mining operation. The mineral resources above a 320
ppm cutoff were reported within the constraining conceptual
optimized pit. The material outside of the pit constrained
resources was considered for extraction by underground mining
methods and was reported at a higher cut-off of 1,200 ppm. Table 2
contains examples of tonnages and grades at varying cut-off values
within the resource model.
Table 2. Sensitivity Analysis – Grade
Tonnage Report at Varying Cut-Off Grades
Cut-Off |
Category |
Tonnes |
eU3O8 |
Contained eU3O8 |
eU3O8 ppm |
|
Mt |
ppm |
Mlb |
200 |
Indicated |
26.7 |
1,364 |
80.2 |
Inferred |
60.4 |
738 |
98.3 |
1,000 |
Indicated |
6.9 |
4,077 |
62.3 |
Inferred |
10.4 |
2,331 |
53.4 |
1,200 |
Indicated |
6.0 |
4,552 |
60.0 |
Inferred |
8.2 |
2,651 |
48.1 |
5,000 |
Indicated |
1.3 |
12,332 |
35.4 |
Inferred |
0.8 |
7,121 |
12.2 |
10,000 |
Indicated |
0.3 |
27,982 |
20.4 |
Inferred |
0.1 |
11,615 |
1.8 |
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.
Independent Qualified Person, Dmitry Pertel,
Geologist, of CSA Global Pty Ltd. has reviewed and approved the
technical contents of 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 Atomics’ 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 the BST joint venture which operates a re-processing
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 the
European EAFD market with facilities located throughout Europe and
Korea.
Key contacts:
Stephen G. Roman
Chairman, President & CEO
Tel: (416)
368-3949
Email: sgr@globalatomiccorp.com
George A. Flach,
P.Geo.Vice President, ExplorationTel: (416) 368-3949Email:
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.
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