Macusani Yellowcake Inc. (CVE:YEL) reports results of a further updated NI 43-101 compliant resource estimate on the it’s Colibri 2 and 3 property on the Macusani Plateau, Peru.
Compared with the previous resource estimate, the latest results show an increase of contained U3O8 at the 75 ppm cutoff grade in the Indicated category by 158% to 5.41 million lbs at a grade of 0.027% U3O8 (0.535 lbs U3O8 per ton) compared with 2.10 million lbs at a grade of 0.022% (0.443 lbs U3O8 per ton). In addition, the contained U3O8 in the Inferred category increased by 4.5% to 15.15 million lbs at a grade of 0.020% (0.389 lbs U3O8 per ton) compared with 14.49 million lbs at a grade of 0.017% (0.335 lbs U3O8 per ton).
Macusani Yellowcake’s CEO, Peter Hooper says:
“The significant increase in the grade and tonnage at Colibri 2 and 3 will enhance the economic potential of producing uranium on the Macusani Plateau. The updated resource estimate we are announcing today is also important as it takes us a significant step closer to achieving our corporate objective for the year of delineating more than 30 million pounds of U3O8.”