Global Atomic Announces Positive Economics for Dasa
TORONTO, April 15, 2020 (GLOBE NEWSWIRE) — Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX: GLO, OTCQX: GLATF; FRANKFURT: G12) the multi-asset development company with cash flow from the BST zinc recycling facility in Turkey and one of the world’s premier uranium development assets, at the Dasa Project, in the Republic of Niger, West Africa, is pleased to announce the results of an optimized mine plan as the basis for a new Preliminary Economic Assessment (“Study” or “PEA”), outlined in this press release.
Global Atomic’s new PEA comprises an optimized Phase 1 of a larger mine development at the Dasa Project. The Phase 1 plan is a low Capex development targeting profitable production over a twelve year mine life. During Phase 1 implementation, Global Atomic will aim to upgrade the substantial mineral resources outside of the Phase 1 mine plan to feed the larger Dasa Project future mine plan (see Figure 1 below).The results of the Study will be summarized in a technical report prepared pursuant to Canadian Securities Administrators’ National Instrument 43-101, which will be available on the Company’s website (www.globalatomiccorp.com) and filed on SEDAR within 45 days of today’s date.HIGHLIGHTS: Optimized Phase 1 Project (All figures are in US dollars)