Global Atomic issues corporate update on Dasa Uranium Project

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Global Atomic issues corporate update on Dasa Uranium Project

Global Atomic Corporation is pleased to provide an update on the Dasa Uranium Project and the drilling programs in the Republic of Niger, its zinc business in Turkey and Corporate activity as of mid-February 2022.

President & CEO, Stephen Roman, commented, “The demand for uranium remains bullish as the world continues to move towards net zero carbon targets. Nuclear power is now widely recognized as essential to provide baseload power. Global Atomic is advancing the Dasa Project as planned with the goal of being an integral part of the uranium supply chain to fuel the world’s reactor fleet. All aspects of the Dasa Project are going well and activity at site is accelerating at a remarkable pace.”

Dasa Uranium Project

The Company initiated an intricate, time-delay blast to begin excavation of the ramp access Box Cut. Since the beginning of 2022, a local contractor constructed roads for easy access to the mine portal area and has been preparing the blast holes for this event. Excavation of the Box Cut will continue until the end of Q1 2022.

Several large pieces of equipment for earth moving and construction have arrived at site. Further equipment deliveries to the Dasa Project will be arriving in March. Surface infrastructure is progressing well with the erection of a warehouse and a maintenance shop adjacent to the mine portal in addition to surface services including electric power, water and sewage facilities in preparation for the 100-person camp to house miners and support staff.

In April 2022, Canadian mining contractor, CMAC-Thyssen, will collar the portal to the mine and then commence underground development. In preparation for 24/7 underground development, equipment and materials are being shipped to site with the first series of containers leaving the Port of Montreal enroute to the Port of Cotonou in Benin, West Africa, and overland delivery to the Dasa Project site.

Uranium Drilling Programs

Following the January 2022 announcement of results from our first 6,000 meters drilled at Dasa, the Company plans to complete the remaining 9,000 meters of the program by mid-year 2022. The initial drill holes targeted an area of Inferred Resources immediately proximal to Zone 3 of the current Phase I Mine Plan.

The drilling was conducted on 25 meter centers and resulted in a significant addition to Zone 3 resources. Assays for the entire drill program are expected in Q4 2022, after which a new resource and mine model will be produced.

 

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