January 08, 2013 07:00 ET
Macusani Yellowcake Reports Further Drill Results at Flagship Kihitian Uranium Project
TORONTO, ONTARIO--(Marketwire - Jan. 8, 2013) - Macusani Yellowcake Inc. (the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) is pleased to announce assay results from an additional seven drill holes from the ongoing drilling program at the Chilcuno Chico anomaly on the Kihitian Property in Puno, Peru. These results continue to extend both the Manto "A" and deeper Manto "B". The best result was from drill hole PT-CH26-TNE with an 18m intersection from 197m to 215m that returned a weighted average of 762ppm U3O8 (or 1.524 lbs/ton) including a higher-grade zone of 9m that averaged 1,459ppm U3O8 (or 2.918 lbs/ton) - see below for all results.
"Our latest drill results continue to validate our decision to acquire properties and consolidate our position on the Macusani Plateau," said Dr. Laurence Stefan, President and CEO. "The drill results and related geological model suggest that Manto B is a continuous mineralised layer that appears to extend towards the neighbouring properties we acquired from the merger with Southern Andes Energy."
Selected assay results from boreholes drilled at Chilcuno Chico include:
* The widths above are drill intercepts and not true widths. True widths have not been determined.
These results are from holes drilled towards the west and southwest from the initial holes drilled at the Chilcuno Chico target on the Kihitian concession. To date, drilling within the Chilcuno Chico anomaly has delineated an area of roughly 800m x 800m that remains open in all directions as far as "Manto B" is concerned. While the "Manto A" structure shows continuity there is less consistency with respect to its shape and the occurrence of uranium mineralization compared to "Manto B".
At present, the Company is operating five diamond drill rigs on the Macusani plateau: three drills on the Kihitian project (one drill at Quebrada Blanca and two drills at Chilcuno Chico) and two drills that have recently started working at the new Tupuramani anomaly in order to test the western extension of Colibri 2 and 3.
In the meantime, the drilling program on the Quebrada Blanca anomaly at Kihitian, located to the north of the Chilcuno Chico anomaly, has intersected uranium mineralization in numerous drill holes that penetrated Manto "B" close to surface as well as a newly as yet unnamed mineralized horizon located below Manto "B". (See the Company's press release dated December 10, 2012.)
Previous assay data, maps and a sample cross section are available on the Company's website at www.macyel.com/properties/.
Quality Control and Analytical Procedures
Core samples have been crushed and representative samples analyzed for Uranium (U) abundance and a suite of 40 elements. The necessary analytical quality control and assurance has been completed by insertion of reference material, duplicate samples and blank material. After crushing, the core is placed in sealed bags and shipped to the CIMM's preparation laboratories in Juliaca, Peru. Following the preparation stage, the sample pulps are sent to CIMM analytical laboratory in Lima where U and a suite of forty other elements are analysed using ICP-MS methodology.
CIMM Peru is an ISO certified assay laboratory. The program is designed to include a comprehensive assay quality control routine comprising the systematic use of standards, blanks and field duplicate samples. Secondary laboratories are used for check assaying.
Mr. Ian Foreman, P.Geo., of Foremost Geological Consulting, an independent consultant to the Company, is a Qualified Person as defined under National Instrument 43-101, and has reviewed and approved the scientific and technical data contained in this release.
About Macusani Yellowcake
Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company owns a 99.5% interest in concessions which cover over 90,000 hectares (900 km2) and are situated near significant infrastructure. Macusani Yellowcake is listed on the TSX Venture Exchange under the symbol 'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 159,473,613 shares outstanding. For more information please visit www.macyel.com.
This news release includes certain forward-looking statements concerning the future performance of Macusani's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Macusani nor its management assume any obligation to revise or update these forward-looking statements.
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.
President and CEO