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MACUSANI YELLOWCAKE REPORTS NEW NEAR-SURFACE HIGH-GRADE URANIUM
INTERCEPTS AT THE QUEBRADA BLANCA ANOMALY ON THE KIHITIAN
PROPERTY
Macusani Yellowcake Inc. has released multiple new high-grade
intersections from the continuing drilling program at the Quebrada
Blanca anomaly on its Kihitian property located in southeastern
Peru.
Highlights:
-- The best high-grade uranium assay was reported on platform 36
from borehole #QB36-TSW, drilled to a depth of 139.50m, over 22.0 m
from 12.0 to 34.0 m with a weighted average of 1530 ppm U3O8 (or
3.06 lbs/ton over 72.2 ft).
-- The Quebrada Blanca anomaly is located approximately 2 km
northwest of the Chilcuno Chico anomaly on the Kihitian property,
on the northwest border of the concession.
-- A very important area, called Isivilla Martinez occurs to north-
northeast from Quebrada Blanca, anomaly that will be drilled in the
near future.
-- The host of the mineralization is the same young age Macusani
rhyolite rock that displays disseminated and fissure-controlled
uranium minerals. These new results were reported from
boreholes drilled on platforms 33, 34, 35 and 36. To date eight
platforms have been drilled at Quebrada Blanca and all of them have
intersected the mineralized manto "B" target.
The best high-grade uranium assay was reported on platform 36 from
borehole #QB36-TSW, drilled to a depth of 139.50m, over 22.0 m from
12.0 to 34.0 m with a weighted average of 1530 ppm U3O8 (or 3.06
lbs/ton over 72.2 ft). This included a higher-grade zone of 5.0 m
that averaged 0.593% U3O8 (or 11.86 lbs/ton over 16.4 ft). The
Quebrada Blanca anomaly is located approximately 2 km northwest of
the Chilcuno Chico anomaly on the Kihitian property, on the
northwest border of the concession.
Other assay results from Quebrada Blanca are shown in the following
table:
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PT-QB36-TSW - 139.50m
depth From To Intersection (m) Grade (ppm) Grade (lbs)
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12.00 34.00 22.00 1,530 3.060
including 29.00 34.00 5.00 5,930 11.860
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PT-QB33-TNW - 115.50m
depth From To Intersection (m) Grade (ppm) Grade (lbs)
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49.00 64.00 15.00 810 1.620
including 50.00 53.00 3.00 3,104 6.208
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PT-QB36-TSE - 138.00m
depth From To Intersection (m) Grade (ppm) Grade (lbs)
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17.00 32.00 15.00 580 1.160
including 20.00 25.00 5.00 1,525 3.050
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PT-QB35-TSE - 78.00m
depth From To Intersection (m) Grade (ppm) Grade (lbs)
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11.00 33.00 22.00 889 1.778
including 21.00 26.00 5.00 3,624 7.248
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PT-QB34-TSW - 112.50m
depth From To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
20.00 34.00 14.00 507 1.014
including 30.00 32.00 2.00 2,802 5.604
President and CEO, Dr. Laurence Stefan, stated: "These new uranium
assays obtained from shallow drilling in the Quebrada Blanca
anomaly are very encouraging and leads us to believe that the
future reported geological resources in these zones could be of
higher grade than everything else reported to date at Macusani,
enhancing the probability of a positive economic study on the
plateau."
Several intersections of high-grade uranium from Quebrada Blanca
were previously reported in the Company's press releases dated May
17th 2012 and August 21st 2012, including 5.0 m that averaged
2.671% U3O8 (or 53.43 lbs/ton). The drilling continues on the ninth
platform in the Quebrada Blanca area. One more platform will be
drilled in the near future in order to complete phase one drilling
within the Quebrada Blanca anomaly.
Phase two drilling at Quebrada Blance will continue on the other
sides of the ravines that surround the anomaly towards northeast
and southeast in order to test at depth visual uranium
mineralization that outcrops on surface.
A very important new area, called Isivilla Martinez, occurs to
north-northeast of the Quebrada Blanca, anomaly and will also be
drilled in the near future. The surface exploration and radiometric
surveys indicate that in Isivilla Martinez both mantos "A" and "B"
may occur. In the Quebrada Blanca area manto "A" was eroded,
exposing the high-grade manto "B" on surface and enhancing the
technical possibility to mine the future uranium ores in an open
pit scenario.
All of these new drilling results and exploration data are being
sent to The Mineral Corporation in Johannesburg, South Africa for
inclusion in an updated resource estimate for the Kihitian property
and extension of the geological model at Chilcuno Chico. The
updated resource estimate is expected to be available during the
fourth quarter of 2012.
Under the existing geological model, the drilling program at
Chilcuno Chico has intersected two mineralized horizons: manto "A",
and roughly 100m below, manto "B", which is thicker and of higher
uranium grade. Between the two mantos there are at least two zones
of intensely disseminated rhyolites of lower uranium grade. At
Quebrada Blanca, which is located stratigraphically lower than
Chilcuno Chico, manto "A" is usually eroded in the western
extremity where drilling is currently in progress. However, manto
"B" is located closer to surface, between 10-50m deep according to
the present drilling evidence, or manto "B" is exposed in outcrops
in deeper ravines.
The host of the mineralization is the same young age Macusani
rhyolite rock that displays disseminated and fissure-controlled
uranium minerals. The main mineral species are meta-autunite and
autunite that have demonstrated to provide high metallurgical
recoveries, between 91 to 97% (see the Company's press release
dated August 9, 2012).
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 new Tupuramani anomaly in
order to test the western extension of Colibri II-III.
Previous assay data, maps and a sample cross section 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, 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.
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.
We seek Safe Harbor.
© 2012 Canjex Publishing Ltd.