Macusani Yellowcake Progresses on New Corachapi and Kihitian Concessions
Thu Aug 20, 4:17 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO -- Macusani Yellowcake (TSX VENTURE: YEL.V) ("the Company") CEO Peter Hooper announces that good progress is being made collecting and remodelling the data on the recently purchased uranium concessions on the Macusani Plateau in Peru. Approximately 4,700 samples had been collected by the previous operators but had not been assayed. The Company is now in the process of having these samples assayed and the resulting data will be incorporated into new NI 43-101 resource reports later this year. The new data will also be instrumental in helping the Company and its consultants to design new drilling programs designed to upgrade and increase the uranium resources on these new concession.
Corachapi
The Company is awaiting results from 3,500 assays from diamond drill holes that have been stored but not processed.
Our modeling Engineers have been to site, have examined the core, the data and have recommended a program of assaying, check assaying and correlation drilling.
The object of this work is to prove up a resource from the existing data in an inferred and indicated resource category. This can be carried out within three months.
Kihitian
The 900 meters of adits were channel sampled by the previous owners. The Company is opening up the adit and will channel sample again; this is to reconfirm the results, which may result in an immediate small resource.
Drilling is planned from surface to the adit elevation, which should allow the geologists to evaluate any mineralized layers above the adit.
Mr. Hooper stated that "The objective is to re-evaluate a large data base which has never been previously used to calculate a mineral resource to NI 43-101 standards. This could quickly and significantly add to the NI 43-101 resources controlled by Macusani Yellowcake."
Preliminary Economic Assessment ("PEA") Progress
The Company's consultant, GBM Minerals Engineering Consultants Limited is well advanced on completing a PEA based on the NI 43-101 resources on the Company's Colibri II and III concessions. A site visit by GBM will be completed in the near future. In light of the potential for significant new uranium resources on the recently acquired Corachapi and Kihitian concessions, Macusani has also asked GBM to design an "expanded production" case once the extent of the new resources is determined.
Mr. Hooper stated that "We expect that an expanded production case could result in significant cost savings due to the increased economies of scale when all three deposits are taken into account."
About Macusani Yellowcake
Macusani Yellowcake owns over 22,000 hectares (2,000 km2) of mineral properties on the Macusani Plateau in Peru.
There are 41,731,284 common shares of Macusani Yellowcake Inc. outstanding (55,807,712 common shares, fully diluted).
SOURCE: Macusani Yellowcake Inc.
Macusani Yellowcake Peter Hooper President (416) 360-3402 peterhooper2@aol.com www.macusaniyellowcake.com |
