The Corachapi property is located one kilometre to the south of the Colibri I-V properties owned by Macusani Yellowcake, towards the northern edge of the Macusani plateau.
The core was sourced from holes drilled by the previous concession holder, RAM Resources Limited (formerly Contact Uranium Limited), which had drilled 193 holes on the properties acquired by the Company but had assayed only 87 holes prior to shutting down its exploration activities in Peru.
MYI’s CEO, Peter Hooper, stated that “These results confirm our belief that the Corachapi property may contain uranium resources of higher grade on the Macusani Plateau. MYI will continue to assay the RAM Resources drill holes with the goal of developing a National Instrument 43-101 compliant resource on the Corachapi and Kihitian properties later this year.”
