Macusani Acquires Mineral Concession on Macusani Plateau in Peru

Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) announced its has acquired a small key mineral concession on the Macusani Plateau in Peru. This property, which has a strong radiometric anomaly and uranium mineralization on the surface, became available for purchase as a result of a non-payment of good-standing fees by third parties and in turn, the company was able to claim is for the nominal fee of US $1,000 payable to the Public Mining Registry in Lima.

As quoted in the press release:

As a result of the difficult period that the junior mining companies are presently facing, small scale local owners and companies that view uranium as a non-core asset have decided to either not continue to pay the elevated mineral rights fees accumulated over the years or simply have dropped the legal rights to own and work those mineral concessions.

Having a superior knowledge of the metallogeny and mode of occurrence of the uranium mineralization founcd on the Macusani Plateau, Macusani Yellowcake was able to act rapidly and at nominal cost to claim this small area with known uranium mineralization extending along known uranium-bearing structures identified by drilling on neighbouring concession owned by the Company. This new concession covers 300 ha and the cost to acquire it was the nominal fee of US$ 1,000.

Click here to read the full Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) press release.