NI 43-101 TECHNICAL REPORT Dasa Uranium Project
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NI 43-101 TECHNICAL REPORT Dasa Uranium Project – Preliminary Economic Assessment For Global Atomic Corporation EFFECTIVE DATE: 15 April 2020 REPORT DATE: 20 May 2020 REPORT No. R203.2020 Qualified Persons Dmitry Pertel, MAIG John Edwards, FSAIMM Alex Veresezan, P.Eng. George A Flach, P.Geo. GLOBAL ATOMIC CORPORATION DASA URANIUM PROJECT – PRELIMINARY ECONOMIC ASSESSMENT UPDATE Report prepared for Client Name Global Atomic Corporation Project Name/Job Code Dasa- Uranium Deposit, PEA NI 43-101 Report GACPEA02 Contact Name Ronald S Halas Contact Title Chief Operating OfficerChief Operating Officer Office Address 8 King Street West, Suite 1700, Toronto, Ontario, M5C185, Canada Report issued by CSA Global Consultants Canada Limited Suite 401, 15 Toronto Street Toronto, Ontario CSA Global Office M5C 2E3 Canada T +1 416 368 7041 E [email protected] Division Mining Report information Filename R203.2020 GACPEA02 Dasa PEA Update NI 43-101.docx Report Title Dasa Uranium Project – Preliminary Economic Assessment Update Last Edited 20 May 2020 Report Date 20 May 2020 Effective Date 15 April 2020 Report Status Final Author/Qualified Person Signature [“SIGNED”] Author and Dmitry Pertel, M.Sc., MAIG Signature: {Dmitry Pertel} Qualified Person Dated this 20th day of May 2020 at Perth, WA [“SIGNED”] John Edwards, B.Sc. Hons., FSAIMM Author and {John Edwards} Chief Metallurgist Signature: Qualified Person Dated this 20th day of May 2020 in Johannesburg, METC Engineering South Africa [“SIGNED and SEALED”] Author and Alex Veresezan, M.Sc., P.Eng. Signature: {Alex Veresezan} Qualified Person Principal Mining Engineer – CSA Global Dated this 20th day of May 2020 in Toronto, Canada [“SIGNED and SEALED”] Author and George A Flach P.Geo. Signature: {George Flach} Qualified Person VP Exploration - GAC Dated this 20th day of May 2020 in Toronto, Canada CSA Global Report Nº R203.2020 I GLOBAL ATOMIC CORPORATION DASA URANIUM PROJECT – PRELIMINARY ECONOMIC ASSESSMENT UPDATE CSA Global Internal Reviewer and Authorization Signature Alex Veresezan M.Sc., P.Eng. Peer Reviewer CSA Global Principal Mining Engineer Signature: [“SIGNED”] {Alex Veresezan} Manager – Mining (Americas) Karl van Olden Peer Reviewer CSA Global Director – Mining Signature: [“SIGNED”] {Karl van Olden} Principal Mining Engineer Ian Trinder, M.Sc., P.Geo. [“SIGNED”] Peer Reviewer Signature: Principal Geologist – CSA Global {Ian Trinder} Peer Reviewer Daniel Wholley [“SIGNED”] and CSA Global BAppSc (Geol), Grad Dip (Oen), MAIG, MAICD Signature: Authorization Partner – CSA Global {Stan Wholley} © Copyright 2020 CSA Global Report Nº R203.2020 II GLOBAL ATOMIC CORPORATION DASA URANIUM PROJECT – PRELIMINARY ECONOMIC ASSESSMENT UPDATE Contents Report prepared for ........................................................................................................................................................ I Report issued by ............................................................................................................................................................. I Report information ......................................................................................................................................................... I Author/Qualified Person Signature ................................................................................................................................ I SA Global Internal Reviewer and Authorization Signature ............................................................................................ II 1 SUMMARY ............................................................................................................................................................. 1 1.1 Introduction ..................................................................................................................................................... 1 1.2 Property Description, Location and Access ..................................................................................................... 1 1.3 History.............................................................................................................................................................. 1 1.4 Geology and Mineralization ............................................................................................................................. 2 1.5 Exploration Status ............................................................................................................................................ 2 1.6 Mineral Resources ........................................................................................................................................... 3 1.8 Mining Methods .............................................................................................................................................. 6 1.9 Recovery Methods ........................................................................................................................................... 7 1.10 Project Infrastructure/Capital and Operating Costs ........................................................................................ 8 1.11 Economic Analysis.......................................................................................................................................... 10 1.12.1 Risks ...................................................................................................................................................... 12 2 INTRODUCTION ....................................................................................................................................................16 2.1 Issuer.............................................................................................................................................................. 16 2.2 Terms of Reference........................................................................................................................................ 16 2.3 Qualified Person Section Responsibility ........................................................................................................ 17 2.4 Qualified Person Property Inspection ............................................................................................................ 17 2.5 Sources of Information .................................................................................................................................. 18 3 RELIANCE ON OTHER EXPERTS ..............................................................................................................................19 4 PROPERTY DESCRIPTION AND LOCATION .............................................................................................................20 4.1 Location of Property ...................................................................................................................................... 20 4.2 Mineral Tenure .............................................................................................................................................. 20 4.3 Other Significant Factors and Risks ................................................................................................................ 23 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY .......................................24 5.1 Accessibility ................................................................................................................................................... 24 5.2 Climate ........................................................................................................................................................... 25 5.3 Physiography ................................................................................................................................................. 25 5.4 Local Resources and Infrastructure ............................................................................................................... 26 6 HISTORY ...............................................................................................................................................................28 6.1 Introduction ................................................................................................................................................... 28 6.2 Regional Exploration by the French Nuclear Energy Commission (1957 to 1981) ........................................ 28 6.3 Regional Exploration by PNC and ONAREM (1981 to 1990) .......................................................................... 29 6.4 Exploration Activity from 2007 Onwards ....................................................................................................... 29 CSA Global Report Nº R203.2020 III GLOBAL ATOMIC CORPORATION DASA URANIUM PROJECT – PRELIMINARY ECONOMIC ASSESSMENT UPDATE 6.5 Historical Mineral Resource Estimates .......................................................................................................... 30 6.5.1 2009 GEOEX Isakanan and Dajy Historical Mineral Resource Estimate ................................................ 30 6.5.2 2013 SRK Consulting (Canada) Dasa Project Historical Mineral Resource Estimate ............................ 30 6.5.3 2017 CSA Global Dasa Project Historical Mineral Resource Estimate (CSA Global, 2017) ................... 30 6.5.4 2018 CSA Global Dasa Project Historical Mineral Resource Estimate (CSA Global, 2018) ................... 31 6.7 Production from the Property ......................................................................................................................