Global Atomic Corp.'s National Instrument 43-101-compliant mineral resource estimate for the DASA uranium project in Niger tripled in the indicated category following a 15,000-meter drilling program.
Total indicated resources, which make up about 98.6% of the near-surface resources, stand at 9.6 million tonnes at 3,068 parts per million of U3O8 equivalent for 64.8 million contained pounds.
The inferred resource estimate totals 8.4 million tonnes at 2,600 ppm U3O8 equivalent for 48.4 million contained pounds, according to a June 4 release.
The resource estimate used a cutoff grade of 320 ppm U3O8 equivalent for open pit resources and 1,200 ppm U3O8 equivalent for underground resources.
A detailed technical study of the near-term economic potential will be reported later in the third quarter.
Chairman, President and CEO Stephen Roman said the company will now move to complete an economic assessment of the near-surface, pit-constrained resources and the underground resources.
Recently, Global Atomic's 7.33% shareholder Greyling Investments Inc. said its board of directors was "heavily conflicted," and the company suffered from poor performance, among other things. Greyling nominated six directors to be elected to Global Atomic's board at a June 20 shareholders meeting.
