VANCOUVER – A new estimate for Macusani Yellowcake's (TSXV: YEL) suite of uranium properties on the Macusani Plateau in southeastern Peru has boosted the resource count by 167% in advance of a preliminary economic assessment (PEA) due out shortly.
Macusani's Peruvian projects are adjoining land packages that together cover roughly 900 sq. km. Since they are in close proximity and will all be considered as potential feedstocks for a regional mining scenario, Macusani included all four projects – encompassing six deposits – in its latest resource update.
That update boosted the measured and indicated resource count across those properties by 167% compared to previous estimates, while also maintaining the inferred count. Based on a 0.075% U3O8 cut-off grade, Macusani's properties now host 47.9 million measured and indicated tonnes grading 0.0253% U3O8 plus 40.5 million inferred tonnes averaging 0.0286% U3O8.
Macusani CEO Laurence Stefan says the new resource "… allows us to consider a much larger uranium production scenario" than previously contemplated for the upcoming PEA, which Macusani expects to release within the next few months.
The Kihitian project is on the east side of Macusani's land package and hosts two deposits. Chilcuno comprises two distinct zones that both outcrop but are separated by 100 metres of barren rhyolite. The other deposit, Quebrada Blanca, hosts one zone. The Kihitian deposits carrying the highest grades on Macusani's ground to date, with their resources adding up to 8.4 million measured and indicated tonnes grading 0.0635% U3O8 plus 12.8 million inferred tonnes averaging 0.0615% U3O8.
Approximately 5 km to the southwest sits the Colibri 2 & 3 and Tupuramani projects, which host similar, adjacent deposits. Both deposits are made up of sub-horizontal, near-surface zones of high-grade mineralization, extending to 35 metres depth at Tupuramani and 50 metre depth at Colobri 2 & 3. These deposits are the company's largest, totaling 27.9 million measured and indicated tonnes grading 0.024% U3O8 and 20.4 million inferred tonnes averaging 0.017% U3O8.
Northwest of Tupuramani another few kilometers is Triunfador. The two deposits at Triunfador are both made up of stacked discrete near-horizontal zones. Having seen the least exploration the Triunfador deposits are still small, totaling 3.5 million inferred tonnes at an average grade of 0.0409% U3O8.
Macusani's properties are close to infrastructure. A major highway runs through the company's land package and there is readily available water and power.
Its share price remained unchanged at 7¢ on news of the updated resource. The company has a 52-week share price range of 5.5¢ to 17.5¢ and has 159 million shares outstanding.
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