OPERATIONS
Dasa Uranium, Rep. of Niger
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The Dasa project is a large, high grade uranium deposit that lies within the Adrar Emoles III licence area, 105km south of the established uranium mining town of Arlit, in the Republic of Niger.

Completed Milestones

2005
  • Incorporated Global Uranium Corporation (“GUC) to explore & develop uranium deposits
  • Changed name to Global Atomic Fuels Corporation (“GAFC”)
2007
  • Signed Mining Agreements on 4 permits known as Tin Negouran 1, 2, 3 & 4 and on two permits known as Adrar Emoles 3 & 4
  • Began exploration on the Tin Negouran permits and a surface deposit was delineated
2009
  • Work on the Isakanan deposit on the Adrar Emoles 4 permit indicated potential suitability for In Situ leach recovery (ISR target)
2010
  • Discovered the Dasa deposit on Adrar Emoles 3
2011 & 2012
  • Raised significant funding through JP Morgan, Macquarie and Investec to explore and develop the Dasa discovery
  • Focused exploration efforts on Dasa leading to the delineation of a large, high-grade resource
2017
  • Signed MOU with Orano Mining for Direct Shipping ore to nearby mills
  • Merged GAFC with Silvermet Inc., holder of BST Joint Venture, to become a wholly-owned subsidiary of publicly traded Silvermet
  • Became a Positive Cash Flow company
  • Changed name to Global Atomic Corporation
2018
  • Invested over USD $50 million on Niger exploration since field work began in 2007
  • Discovered the high-grade Flank Zone
  • Published initial Preliminary Economic Assessment (“PEA”) to mine Dasa via Open Pit
2019
  • Announced Flank Zone results and a significant resource upgrade for Dasa
Q2 2020
  • Filed new PEA, incorporating the Flank Zone, with an Initial Phase 1 mine development over 12 years producing 44 million pounds and an after-tax NPV8 of USD $211M & an IRR of 26.6% using a uranium price of USD $35/lb
  • Completed Geotechnical Study
  • Shipped ore samples to Canada for testing
Q3 2020
  • Commenced Pilot Plant in Canada
  • Completed Development and Operational Plan
  • Completed Hydrogeology Study
  • Submitted the Mining Permit Application
  • Commenced preliminary discussions towards project financing
Q4 2020
  • Granted Mining Permit by Government of Niger

Geology

Dasa is a uniquely high-grade sandstone-hosted deposit with mineralisation across a range of horizons from Jurassic to Carboniferous in age. It is metallurgically clean with low levels of deleterious elements such as molybdenum or vanadium, and test work indicates uranium recoveries are likely to be in excess of 90%.