Global Atomic Fuels Closes $25.5 Million Private Placement

 

Highlights:

  • Significant new uranium discovery on the Adrar Emoles # 3 concession, Dajy area, called Dasa 1, 2, 3 and 4. The discoveries were made along the Azouza fault, a major structural feature in the country, and in the same mineralized unit (called Tchirozerine 2) that hosts Areva’s Imouraren deposit (which contains a resource of approximately 320 million pounds U3O8). Global Atomic has discovered a series of up-thrust blocks in a horst-graben environment along the fault. To date, over 200 drill holes have been completed showing significant widths and grades including: 2621 ppm over 8.82 meters at Dasa 1; 1163 ppm over 8.62 meters at Dasa 2; and 1138 ppm over 76 meters at Dasa 3. Surface anomalies have been sampled with grades as high as 30% U3O8. These “blowout” features led to the discovery of the important Tchirozerine 2 unit that outcrops at this location.

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