Macusani Yellowcake Announces Additional Results from Ongoing Drilling at Kihitian Property, Peru
March 20 2012 - 1:44PM
Marketwired Canada
Macusani Yellowcake Inc. (the "Company" or "Macusani") (TSX
VENTURE:YEL)(FRANKFURT:QG1) is pleased to announce additional assay results from
the ongoing drilling program at the Chilcuno Chico anomaly on the Kihitian
Property in Puno, Peru. These results continue to extend both the "A" zone and
deeper Manto "B" zone. The best result was a 10 m intersection from 240 to 250 m
that returned a weighted average of 1679ppm U3O8 (or 3.358lbs/ton) in drill hole
PT-CH22-TSE. This intersection included a higher-grade zone of 4.00m that
averaged 3448ppm U3O8 (or 6.896lbs/ton).
President and CEO, Peter Hooper, stated: "These results exhibit once more the
potential for both open pit and underground mineable mineralization within the
Kihitian Property. Our geological model continues to advance and displays a
continuous mineralised layer - Manto "B" - that appears to extend towards the
neighbouring properties owned by Southern Andes Energy (TSX VENTURE:SUR); the
company that we have recently entered into a merger agreement with. The drilling
programme on the newest Kihitian target, namely Quebrada Blanca, has already
intersected widespread visual uranium mineralization close to surface on holes
drilled from platform QB-33. Results from these new holes will be published once
the assay results become available."
Assay results are shown in following table:
----------------------------------------------------------------------------
Intersection Grade Grade
From To (m) (ppm) (lbs/ton)
----------------------------------------------------------------------------
PT-CH22-TSE- 315.00m depth 240.00 250.00 10.00 1,679 3.358
including 242.00 246.00 4.00 3,448 6.896
----------------------------------------------------------------------------
PT-CH25-TSE- 262.50m depth 94.00 95.00 1.00 537 1.074
102.00 107.00 5.00 364 0.728
including 105.00 107.00 2.00 811 1.622
137.00 167.00 30.00 249 0.498
including 162.00 167.00 5.00 1,096 2.192
242.00 247.00 5.00 187 0.374
----------------------------------------------------------------------------
PT-CH22-TNW- 278.50m depth 182.00 184.00 2.00 270 0.540
232.00 239.00 7.00 645 1.290
including 233.00 235.00 2.00 1,827 3.654
----------------------------------------------------------------------------
PT-CH2-TSE- 103.50m depth 50.00 55.00 5.00 699 1.398
including 50.00 52.00 2.00 1,706 3.412
----------------------------------------------------------------------------
Intersection Grade Grade
From To (m) (ppm) (lbs/ton)
----------------------------------------------------------------------------
PT-CH6-TV- 395.10m depth 89.00 99.00 10.00 307 0.614
102.00 105.00 3.00 183 0.366
227.00 230.00 3.00 232 0.464
PT-CH21-TNE- 315.00m depth 196.00 219.00 23.00 126 0.252
including 208.00 219.00 11.00 226 0.452
----------------------------------------------------------------------------
PT-CH22-TNE- 312.10m depth 197.00 200.00 3.00 154 0.308
279.00 283.00 4.00 380 0.760
----------------------------------------------------------------------------
(i)Note - intersections do not represent true widths.
These results are from boreholes drilled towards the South, West and South West
from the initial holes drilled at Chilcuno Chico target on the Kihitian
concession. To date drilling within the Chilcuno Chico target has delineated an
area of roughly 700m x 750 m that remains open in all directions as far as
"Manto B" is concerned. While the "Manto A" structure shows continuity there is
less regularly with respect to its shape and the occurrence of uranium
mineralization compared to "Manto B".
The Company is currently operating three drill rigs on the Kihitian property
including a recently mobilized rig on the Quebrada Blanca anomaly 2 km NW of
Chilcuno Chico.
Previous assay data, maps and a sample cross section illustrating the A and B
mineralized zones are available on the Company's website at
www.macyel.com/kihitian/.
Quality Control and Analytical Procedures
Core samples have been crushed and representative samples analysed 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.
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.
Macusani Yellowcake and Southern Andes Energy Merger
On February 3rd, 2012 Macusani and Southern Andes Energy Inc. ("Southern Andes")
entered into a merger agreement pursuant to which Macusani will acquire all of
the outstanding common shares of Southern Andes. The merged company will control
approximately 900 km2 of uranium exploration ground in the highly prospective
Macusani Plateau uranium district in south-eastern Peru. The contiguous nature
of the 2 companies' claims demonstrates the strong, clear strategic rationale
for the transaction. Building upon Macusani's successful exploration efforts at
Kihitian, Colibri 2 & 3 and Corachapi, the addition of Southern Andes will allow
for a more widespread evaluation of the larger Macusani district, as well as
targeted exploration along strike from the current projects.
Shareholders are reminded to vote their proxy FOR the Merger before the
respective proxy deadlines:
Macusani Yellowcake: Voting Deadline: Wednesday, March 28, 2012 at 4:30 AM (EST)
For more information and assistance in voting your proxy, Macusani shareholders
are urged to contact Nisha Hassan, TMX Equicom at +1-416-815-0700 Ext: 258 or
nhasan@equicomgroup.com.
Southern Andes Energy: Voting Deadline: Wednesday, March 28, 2012 at 4:30 PM (EST)
For more information and assistance in voting your proxy, Macusani shareholders
are urged to contact Leslie Haddow at +416-637-3523 or lhaddow@rgmi.ca.
Qualified Person
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 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
south-eastern Peru. The Company owns a 99.5% interest in concessions which cover
over 24,000 hectares (240 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 107,775,714
shares outstanding. For more information please visit www.macyel.com.
Website: www.macyel.com
Facebook: www.macyel.com/facebook/
Twitter: www.twitter.com/macusani/
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.
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