TORONTO, May 28, 2018 (GLOBE NEWSWIRE) — Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V:GLO) is pleased to announce its operating results for the 3 months ended March 31, 2018. Highlights of these results are as follows:
Net income for Q1 2018 was $3.7 million, up from $2.4 million in Q1 2017.
A drill program to test the Flank Zone area of the DASA deposit was initiated in January 2018, with 7,854 metres drilled in Q1 2018 with excellent results (see press releases dated February 22nd, April 5th and May 7th, 2018).
CSA Global Pty Ltd have been engaged to update the DASA resource, incorporating recent drill results and to provide potential mining scenarios.
Exploration drilling to expand the DASA deposit to the southwest and to the northeast is continuing.
Global Atomic continues to work cooperatively with Orano Mines Ltd. (formerly Areva) to evaluate plans to ship DASA material to its nearby mill for processing.
Global Atomic also announced the approval of the expansion and modernization of its electric arc furnace dust (“EAFD”) plant in Iskenderun, Turkey.
The project will expand EAFD throughput to 110,000 tonnes per annum, from the current 60,000 tonnes per annum, producing concentrates containing 55 to 65 million pounds of zinc per annum.
The new plant has been engineered using the best available technology employed by joint venture partner Befesa Zinc S.A.U. (“Befesa”), a world leader in the processing of EAFD.