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Global Atomic Corp.
Summary
| Project: | Dasa | |
|---|---|---|
| Deposit: | Dasa | |
| Location: | Niger | |
| Commodities: | Uranium | |
| Date: | 6/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-6-2018: Global Atomic Corp. announces a Resource Estimation report for its Dasa deposit at the Dasa project. Updated mineral resource estimate at Dasa. TORONTO, June 05, 2018 -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V:GLO) | |
| Resources: | (Resource): 9.59Mt @ 3068ppm eU3O8 (Ind.), 8.44Mt @ 2600ppm eU3O8 (Inf.) | |
| CP/QP: | [Resources]: Dmitry Pertel (CSA Global Pty Ltd.) | |
| ABSTRACT: | TORONTO, June 05, 2018 -- 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.” 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 | |
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