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Global Atomic Corporation boosts indicated resource; sees significant upgrade

The firm said it saw a significant resource upgrade at its Dasa Project, in Australia

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The firm said it saw a significant resource upgrade at its Dasa Project, in Australia

Global Atomic Corporation (TSE:GLO) said Thursday it released a new mineral resource estimate that showed a boost at its Dasa NI 43-101 indicated resource, in Australia.

The firm released the results of the new mineral resource estimate on Thursday. In addition, geotechnical data derived from drill core was incorporated, which defined the structure and stratigraphic boundaries of the block model.

A number of the highlights included a boost in indicated resources by 56% to 101.6 million pounds.

When it comes to inferred resources, those were boosted by 81% to 87.6 million pounds. 

READ: Global Atomic Corporation will support uranium exploration and development work with significant cash flow from Turkish zinc assets

"The update completed by CSA Global further confirms the robust nature of DASA. The resource is shown to contain over 100 million pounds Indicated and 87 Mlbs of inferred resources, and the deposit remains open for further resource expansion. Our current focus is on the rapid advancement of the project towards production," said Stephen G. Roman, president and CEO.

"Global Atomic is commissioning CSA Global to carry out a study for an open pit at DASA, and the company continues to discuss development options with Orano Mining SA," he added.

The firm said using a 1,200 ppm (parts per million) cut-off, the grade/tonnage report estimates 78.0 million pounds eU3O8 at 4,483ppm in the indicated category, an increase of 30%.

In addition, all geotechnical data from drill core was incorporated, which has defined the boundaries of the block model.

Contact Katie Lewis at [email protected]

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