Nov 13, 2007 09:29 ET
CORRECTION FROM SOURCE: Macusani Yellowcake Intersects 4.69 Metres Grading 4.28 Lbs U3O8/Tonne (0.1941% U3O8) in New Discovery at Colibri II Property at Macusani, Peru
TORONTO, ONTARIO--(Marketwire - Nov. 13, 2007) - Due to some rewording in the 8th paragraph of the press release issued at 5:52PM ET NOV 12, 2007, the release has been reissued. The complete and correct release follows.
Macusani Yellowcake Inc. ("Macusani") (TSX VENTURE:YEL) is pleased to announce assay results from its first drill holes at its Colibri II uranium property on the Macusani Plateau in southeastern Peru. These five holes were all drilled from the same drill collar which has been designated as Platform 2 ("P02"). One hole was drilled vertically and the other four holes were drilled with azimuths in approximately the four compass directions (north, south, east and west) at dips of approximately minus 45 degree angles. The drill hole lengths ranged from 54.10 m to 68.07 m from surface.
Each hole intersected multiple horizontally-oriented uraniferous zones at depths starting at surface down to approximately 30 to 60 m. The uranium minerals are hosted in volcanic ignimbrite rocks of rhyolite composition that cover larger areas of the Macusani Plateau in "blanket like" formations from surface to a depth of about 100 m.
The assay results from four of these holes are shown in the table below. (Note: The interval lengths are measured along the core length and may not represent true widths.)
Depth U3 O8 lbs U3O8/
Hole # From To Interval grade tonne
(m) (m) (m) (%)
P02-DD1 0.00 9.26 9.26 0.0235 0.518
12.67 15.79 3.12 0.0345 0.761
16.59 20.26 3.67 0.0112 0.247
24.00 31.10 7.10 0.0395 0.871
37.08 38.61 1.53 0.0174 0.384
P02-DD2 0.00 8.60 8.60 0.0158 0.348
13.62 16.40 2.78 0.0244 0.538
18.35 21.19 2.84 0.0201 0.443
21.25 24.70 3.45 0.0225 0.496
27.90 28.82 0.92 0.0961 2.119
31.72 33.22 1.50 0.0121 0.267
40.34 42.48 2.14 0.1123 2.476
P02-DD3 0.00 0.15 0.15 0.0137 0.302
4.39 5.44 1.05 0.1128 2.487
6.97 10.33 3.36 0.0103 0.227
13.65 15.06 1.41 0.0044 0.097
17.50 22.34 4.84 0.0295 0.650
28.42 29.24 0.82 0.0278 0.613
P02-DD4 (Assays pending)
P02-DD5 0.00 9.65 9.65 0.0201 0.443
12.15 14.36 2.21 0.0872 1.922
21.27 23.81 2.54 0.0096 0.212
27.75 32.44 4.69 0.1941 4.279
34.84 40.80 5.96 0.0085 0.187
48.23 50.19 1.96 0.0146 0.322
Peter Hooper, President of Macusani stated, "These results are extremely encouraging and represent only the beginning stages of our drilling programme along a 4 km long radiometric anomaly on the Colibri II property. The phase one drill programme is a 94 hole diamond drill programme drilled from 19 drill locations, total programme is approximately 4,500 metres of HQ core. The phase one drill programme will be immediately followed by a 10,000 metre phase two programme. The phase two drill programme is to fully explore the potential of the 4 km long anomaly."
The drill plan showing drill platform locations and coordinates is shown on page 10 of our corporate power point that is on the Macusani web site.
The Company employs a QA/QC protocol on all aspects of its analytical procedures. Whole core samples are sent to SGS Laboratories Peru in Lima, Peru. Samples are taken in intervals depending on the geological boundaries and type of mineralization (veins, veinlets, stockwork, dissemination, non-mineralised) but usually not more than 1 m sample. At SGS in Lima the core samples are crushed, pulverised, homogenised and a 250g riffled representative sample analysed for Uranium using ICP-MS techniques on a suite of 50 chemical elements.
A blank sample and two standards covering a range of grades are inserted every 50th samples. The pulps are stored at present at SGS in Lima.
Macusani Yellowcake wishes to correct the description of the Qualified Person which should read as follows: All aspects of the exploration program, including the Quality Control program, were supervised by Dr. Laurence Stefan, Ph.D. (Economic Geology), Director Macusani and is responsible for all of the scientific and technical information in this news release. Mr. Ian Foreman, P.Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed the technical information used in the preparation for this release.
About Macusani Yellowcake Inc.
Macusani controls over 20,000 hectares (2,000 km2) of mineral properties in Peru - Macusani, Munani, Lagunillas and Rio Blanco - all regions in Puno in southeastern Peru. A 6,500 m diamond drilling program is underway on the Macusani Plateau along a 4 km long radiometric anomaly. Macusani believes that its properties are underlain by uraniferous volcanic ignimbrite breccia rocks similar to those currently being drilled on nearby properties.
There are 24,186,285 common shares of Macusani Yellowcake Inc. outstanding as well as 5,327,974 warrants and 3,295,000 options to purchase common shares outstanding (32,809,259 common shares, fully diluted).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contactMacusani Yellowcake Inc.