TORONTO, Jan. 28, 2021 /CNW/ - Global Atomic
Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX:
GLATF) (FRANKFURT: G12) announced that the Government of the
Republic of Niger has issued an
Environmental Compliance Certificate for the Dasa Uranium
Project. The Company has also received three-year
permit extensions for each of its six Exploration properties
in Niger, all of which have seen
substantial exploration programs in the past.
President and CEO of Global Atomic, Stephen G. Roman said, "The issuance of the
Environmental Compliance Certificate along with the Dasa Mining
Permit issued in December 2020,
provide Global Atomic with the necessary Government approvals to
advance the development of the Dasa Project towards commercial
production. We continue to work towards the completion of the
Feasibility Study and have begun discussions with utilities with
regard to off-take agreements and financial institutions with
regard to project financing. We continue to target Q1 of 2022
to begin earthworks to build the mine."
The renewed exploration permits cover an area of 730 square
kilometres on the following six Exploration Permit Areas:
- Adrar Emoles 3 (AE3), 121.2 km2
- Adrar Emoles 4 (AE4), 122.4 km2
- Tin Negoran 1, 119.7 km2
- Tin Negoran 2, 122.1 km2
- Tin Negoran 3, 124.3 km2
- Tin Negoran 4, 120.1 km2
With the discovery of the Dasa uranium deposit, the Company's
focus in recent years has been on Dasa including the development of
a uranium processing facility to support commercial
production. Within the AE3 Exploration Permit there remains
significant potential to extend the known resources of the
high-grade Dasa deposit along both strike and at depth.
There also exists a geological prospect within AE3 known as Dajy
where historical drilling encountered prospective widths and grades
within the Tarat stratigraphic unit, the same geological structure
that hosts Orano Mining's Somaïr mine. Further potential exists
along strike of the Isakanan prospect on the adjacent AE4
Exploration Permit. Historical drilling on the Isakanan
prospect outlined a formation that will be further drilled and
tested for in-situ recovery (ISR) potential.
The Tin Negoran Exploration Permits have been the target of over
22,000 metres of drilling by Global Atomic. Areas of
extensive outcropping and near-surface mineralization will be
further tested to determine the potential for open pit
mining. The Tin Negoran Exploration Permits are within 100
kilometres of the AE3 concession, which would enable Global Atomic
to use the planned Dasa mill to potentially process Tin Negouran
feedstock. All six Exploration Permit Areas lie within the Tim
Mersoï Basin which has produced uranium for the Republic of
Niger for the last 50 years.
In separate news, Global Atomic is pleased to announce it won
the 24th position on the 2021 OTCQX® Best 50,
a ranking of top performing companies traded on the OTCQX Best
Market in 2020. The OTCQX Best 50 is an annual ranking
of the top 50 U.S. and international companies traded on the OTCQX
market based on an equal weighting of one-year total return
and average daily dollar volume growth in the previous calendar
year.
About Global Atomic
Global Atomic Corporation
(www.globalatomiccorp.com) is a publicly 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. With the issuance of the Dasa Mining Permit,
final design in support of the Company's Feasibility Study is
on-going.
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 plant, located in
Iskenderun, Turkey. The plant
recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce a
high-grade zinc concentrate which is sold to 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.
The information in this news release may contain forward-looking
information under applicable securities laws. Forward-looking
information includes, but is not limited to, statements with
respect to completion of any financings; Global Atomics'
development potential and timetable of its operations, development
and exploration assets; Global Atomics' ability to raise additional
funds necessary; the future price of uranium; the estimation of
mineral reserves and resources; conclusions of economic evaluation;
the realization of mineral reserve estimates; the timing and amount
of estimated future production, development and exploration; cost
of future activities; capital and operating expenditures; success
of exploration activities; mining or processing issues; currency
exchange rates; government regulation of mining operations; and
environmental and permitting risks. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "is expected",
"estimates", variations of such words and phrases or
statements that certain actions, events or results "could",
"would", "might", "will be taken", "will begin", "will include",
"are expected", "occur" or "be achieved". All information
contained in this news release, other than statements of current or
historical fact, is forward-looking information.
Statements of forward-looking information are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Global Atomic to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to those risks described in the annual information form of
Global Atomic and in its public documents filed on SEDAR from time
to time.
Forward-looking statements are based on the opinions and
estimates of management at the date such statements are made.
Although management of Global Atomic has attempted to identify
important factors that could cause actual results to be materially
different from those forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance upon
forward-looking statements. Global Atomic does not undertake
to update any forward-looking statements, except in accordance with
applicable securities law. Readers should also review the
risks and uncertainties sections of Global Atomics' annual and
interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this news
release.
SOURCE Global Atomic Corporation