Global Atomic Corporation (“Global Atomic” or the “Company”; TSX:GLO; OTCQX: GLATF; Frankfurt: G12) announced today that significant progress has been made towards submitting it’s Mining Permit application for the Dasa Uranium Project in the Republic of Niger, West Africa.
HIGHLIGHTS:
In July,
- The Company filed its completed Environmental Impact Statement (“EIS”), with the Niger Government;
- The Dasa Project site hydrogeology drilling and water flow test work has been completed; and
- A tender for final geotechnical diamond drilling for the feasibility study has been issued.
In August,
- Two public hearings in Niger regarding the EIS are being scheduled; one in the Dasa Project area and the other in the capital city of Niamey;
- the Company will begin a Pilot Plant test program to confirm Dasa process plant flow sheet and recoveries using drill-hole samples that recently arrived in Canada for the test work. The samples represent mineralized material expected to be mined in the first five years of mining operations; and
- The Pilot Plant Study as well as the optimization and finalization of the flow sheet is being conducted at Process Research Ortech of Mississauga, Ontario, world renowned experts in uranium extraction. Results are expected in Q4, 2020.
Next steps include:
- Global Atomic expects to file its Development Plan with the Niger Government by the end of August along with it’s Mining Permit application; and
- Dasa Project development work ongoing will include the Pilot Plant operation, geothechnical drilling to refine the mining plan and final feasibility studies including refinement of project Capex and Opex.
Ron Halas, P.Eng., Chief Operating Officer stated, “Since I joined the Company in March, the Global Atomic operating team and consultants have made excellent progress with all facets of our Dasa Project development. We are now preparing the documentation necessary for our Mining Permit application and continuing to de-risk the Project. It is an exciting time and I look forward to reporting on further progress in the coming months.”
OTC Markets Webcast:
Investors are invited to participate in a live virtual presentation by Stephen G. Roman, President & CEO, at VirtualInvestorConferences.com being held by the OTC Markets at the end of this week. The time of Global Atomic’s presentation is as follows:
DATE: Friday, July 31st
TIME: 11:00 a.m. (ET)
LINK: https://www.tinyurl.com/073020MiningVIC
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a TSX 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 plans to submit its Development Plan for the Phase 1 high grade underground mine to the Ministry of Mines in the Republic of Niger together with a Mining Permit application in Q3 2020.
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.
Source: Global Atomic