The results of a NI 43-101 mineral resource estimate for the Chilcuno Chico drill area were prepared by the Mineral Corporation in South Africa, and a complete report detailing the mineral resource estimate will be filed on SEDAR once it is available.
At a 100 parts per million (ppm) cut-off grade, the indicated resources were estimated at 0.91 million tons at a grade of 673ppm U3O8 for 1.35 million pounds of U3O8 and inferred was 9.32 million tons at a grade of 514ppm U3O8 for 10.57 million pounds ofU3O8.
Macusani Yellowcake CEO Peter Hooper said less than half of the Chilcuno Chico target has been drilled to date and that there are at least another 8 target anomalies within the Kihitian concession.
"Furthermore, the recently announced merger with Southern Andes will enhance the size of these high-grade targets at Kihitian as several of our targets extend into this newly acquired ground," he added.
"Combined with our other projects on the Macusani Plateau we now have an aggregate of 11.8 million lbs U308 in the measured and indicated categories and 27.6 million lbs in the inferred category which has come from a relatively small portion of our target areas."
Nearly 56 boreholes were completed to compile the resource estimate and two mineralized horizons, were visible in the core, Manto A and Manto B, seperated at a distance of about 100 meters.
Manto B was found at a more consistent continuity and at greater depth than Manto A while between the two horizons another two smaller uranium-bearing zones are estimated that have not been included in the latest resource estimate.
Macusani stated resource estimated has been calculated using a 10% geological loss, which is considered to be high, as a large part of it is likely to be mined by open-pit mining methods and main economic uranium minerals were autunite and meta-autunite imbedded in porous Miocene rhyolite.
