Macusani Yellowcake Intersects 9 m Averaging 0.123% U3O8 (2.4 lbs/ton) Including 2 m Grading 0.529% U3O8 (10.5 lbs/ton) at Kihitian Property, Peru
TORONTO, ONTARIO -- (Marketwire) -- 11/30/11 -- Macusani Yellowcake Inc. (the 'Company') (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 9 m intersection from 210 to 219 m that returned a weighted average of 1,238 ppm U3O8 (or 2.476 lbs/ton). This intersection included a higher-grade zone of 2.0 m that averaged 5,296 ppm U3O8 (or 10.592 lbs/ton). (Note that these intersections do not represent true widths.)
These results are from boreholes drilled towards the South and South West (see press releases dated July 28, 2011, August 10, 2011, and September 29, 2011 for drilling platform locations).
To date drilling within the Chilcuno Chico target inside the Kihitian concession delineates an area of roughly 700m x 400m.
President and CEO, Peter Hooper, stated: 'We are very pleased with the assay results as they continue to add to the resource base across the zones identified in our current model.'
Assay results are shown in following table:
----------------------------------------------------------------------------
Intersection Grade Grade
From To (m)(i) (ppm) (lbs/ton)
----------------------------------------------------------------------------
PT-CH14-TSE- 317.50m depth 210.00 219.00 9.00 1 238 2.476
including 214.00 216.00 2.00 5296 10.592
232.00 236.00 4.00 292 0.584
----------------------------------------------------------------------------
PT-CH14-TNE- 316.60m depth 220.00 227.00 7.00 78 0.156
234.00 239.00 5.00 491 0.982
including 235.00 237.00 2.00 1 111 2.222
----------------------------------------------------------------------------
PT-CH9-TSE- 49.30m depth 22.00 33.00 11.00 246 0.492
including 22.00 24.00 2.00 1 123 2.246
----------------------------------------------------------------------------
PT-CH21-TV- 200.00m depth 176.00 180.00 4.00 71 0.142
187.00 195.00 8.00 179 0.358
----------------------------------------------------------------------------
PT-CH17-TV- 103.50m depth 66.00 85.00 19.00 79 0.158
including 74.00 76.00 2.00 335 0.670
----------------------------------------------------------------------------
PT-CH15-TSE- 91.50m depth 49.00 69.00 20.00 254 0.508
including 59.00 65.00 6.00 542 1.084
----------------------------------------------------------------------------
PT-CH5-TV- 255.60m depth 0.00 3.00 3.00 189 0.378
183.00 186.00 3.00 300 0.600
----------------------------------------------------------------------------
(i)Note - intersections do not represent true widths.
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/.
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.
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.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Macusani Yellowcake Inc.
Peter Hooper
President and CEO
1-416-360-3402
peter@macyel.com
www.macyel.com