Permits extended for six uranium exploration projects in Niger

Six new uranium exploration permits held by Ontario, Canada-based Global Atomic Fuels Corp. for sites in Niger have been renewed for three years, allowing the company to continue development activities on uranium deposit locations.

The renewals were issued by Niger's minister of mines, Omar Hamidou Tchiana. The largest of the deposits is the DASA deposit, upon which Global Atomic personnel are conducting preliminary economic assessments. This site is on Niger's main highway and has access to all necessary infrastructure.

To date, 110,000 meters of drilling have been completed at this site, including 22,000 meters of core drilling. The site has also been the subject of advanced metallurgical, hydrogeological, environmental and geophysical evaluations. The site includes a 10-year uranium mine.

The other Global Atomic deposits in Niger, Isakanan, Dajy and Tin Negouran are in earlier stages of development.

So far, Global Atomic has invested about $50 million in its Niger exploration and development projects. Company officials said they plan to request a mining license for the DASA project in the near future.