Macusani Yellowcake Inc. ("Macusani" or the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) is pleased to announce the results of an updated NI 43-101 compliant resource estimate on the Company's Colibri 2 and 3 uranium property on the Macusani Plateau in southern Peru. 

The resource estimation was completed by The Mineral Corporation, South Africa. A complete NI 43-101 technical report containing the updated resource estimate will be filed on SEDAR as soon as available. 

Macusani's CEO, Peter Hooper, stated that "We are encouraged by the improved resource estimate, which show increased grades of the indicated and inferred resources at the 75 ppm cut-off grade by approximately 36% and 6% respectively." 

The total in ground numbers at 75 ppm cut off are: 

 

• Indicated Resource of 2,095,658 lbs at a grade of 0.44 lbs per short ton. 
• Inferred resource of 14,492,321 lbs at a grade of 0.34 lbs per short ton.

 

"We are pleased that the quality, quantity and continuity of this deposit has improved and we look forward to the results of a Preliminary Economic Assessment (PA) of the Colibri 2 and 3 deposit expected later this quarter." 

The new resource estimate was calculated based on 123 drill holes compared with 69 drill holes used in the previous estimate that was first reported in a press release dated December 4, 2008. The new resource table  followed by explanations provided by The Mineral Corporation (in quotations) describing the methodology of the resource estimation. 

"The Mineral Resources of December 2008 have been updated on the basis of new drilling and analytical results. The identified Mineral Resources are based on samples taken from crushed diamond drilled core. Twenty-seven drilling platforms (17 in 2008) with up to 5 boreholes per platform were drilled, typically 1 borehole at -90˚ and a fan of 4 boreholes at -55˚ providing some 6980m of sampling data (4361m in 2008). 

Core samples have been crushed and representative samples analysed for Uranium (U) abundance. The necessary analytical quality control and assurance has been completed by insertion of reference material, duplicate samples and blank material. The Mineral Corporation has taken random independent samples of crushed core and had them analysed for U. 

The estimation methodology employed uses Indicator Kriging (IK) to determine the probability of material being above a cut-off of 26ppm U, and Simple Kriging (SK) to estimate the grade above this cut-off. The model reconciles well with an alternate estimation based on a classical statistical methodology. "

Bookmark this page!