Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) reported the first drilling results from the Tupuramani property in Peru. The results are similar to the drilling intersections obtained within Colibri 2 & 3 with multiple wide intersections of up to 60m thick, with uranium grades ranging from 0.3 to 0.6 lbs/ton within the first 100-110m from surface.
As quoted in the press release:
The results to date are similar to the drilling intersections obtained within Colibri 2 & 3 with multiple wide intersections of up to 60m thick, from surface, with uranium grades ranging from 0.3 to 0.6 lbs/ton within the first 100-110m from surface. According to the down-hole radiometric survey, smaller mineralized intervals of lower grade occur at various depths with two consistent “reefs”, or “mantos”, occurring at vertical depths of 150m and 190m, with thicknesses ranging from 11m to 50m each. Drilling continues at Tupuramani with two rigs extending the drilling activities westward of the existing drilled resource at Colibri 2 & 3. A third rig will join the exploration activities during Q2 of 2013.
Macusani Yellowcake Inc. President and CEO, Dr. Laurence Stefan said:
These new uranium assays from drilling at Tupuramani demonstrate the real economic potential of the Colibri 2 & 3 sector of the Macusani plateau. The almost E-W striking radiometric anomaly of Colibri 2 & 3 – Tupuramani – Micha Michani represents a large scale anomaly that has been followed on surface for almost 7.8km. To date, only the 2km within the Colibri 2 & 3 property contain a drilled NI 43-101 mineral resource estimate and the rest of the anomaly is still largely underexplored. If positively confirmed by drilling this mineralization style has the potential to become a significant open pit mining resource.
Get Our Expert Guide to Uranium Investing FREE!Download this FREE Special Report, Uranium Future Outlook: Uranium Price Forecasts and Top Uranium Stocks to Watch