Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) is an exploration company with over 900 km2 (90,000 hectares) of claims on the Macusani Plateau. Located in south‐eastern Peru, the Plateau is in one of the largest, most highly prospective uranium districts in the world. The Company owns four advanced exploration projects, all situated near significant infrastructure.
In April, 2012, Macusani merged with Southern Andes. The contiguous nature of the two companies claims on the Plateau has now formed a uranium power play. The newly formed Company is currently focussed on exploring the Kihitian Project. 2012 drilling demonstrated high‐grade uranium intersections at Macusani’s projects.
- $6 M cash reserves
- 11.8 M lbs U3O8 Measured & Indicated
- 27.6 M lbs U3O8 Inferred
- Large, near surface, open pittable deposits
- + 90% estimated recovery
- Excellent infrastructure (roads, power, water, etc.)
- Resource friendly jurisdiction of Peru
Summary of NI 43-101 compliant resources
The closest airport to the project area is Juliaca which is approximately 180 km from the southern boundary of the concession. The Juliaca airport receives daily flights from Lima and Cusco. The Interoceanic Highway passes 11 km to the east of the property. An un-tarred road, in good condition, connects the project area to the Interoceanic Highway.
Kihitian is a new high‐grade discovery, with drilling returning average uranium assays of:
- 0.626% U3O8 with assays ranging from trace to a high of 11.24% U3O8
- Shallow ‘A’ Zone – 3.0 to 5.0 m ranging from 0.081% U3O8 up to 0.26% U3O8 (Jan 12, 2011)
- Deeper ‘B’ Zone – 7.0 m at 1.8% U3O8 ; 65 m wide mineralized zone (Nov 26, 2010)
- Recent mineralized trenching has extended the potential at Kihitian
A maiden resource estimate at Kihitian property was released in June 2012 , where preliminary results indicate that mineralized potential may continue to extend along strike onto newly acquired properties.
Kihitian is Macusani’s current exploration focus. Over 60 drill holes to date demonstrate continuous high-grade mineralization over a strike length of 700 m.
Colibri 2 & 3
123 diamond drill holes to date; 20% of strike length yet to be drilled and open at depth. Updated NI 43-101 completed Sep 2010. Preliminary Economic Assessment completed Jun 2010.
Tupuranami is a recent discovery located immediately adjacent to and on strike with Colibri 2 & 3 property. It has significant potential to expand the extent of mineralization with more than 3 km of prospective strike identified
A maiden resource at Macusani’s Kihitan property is expected in Q2/2012, where preliminary results indicate that mineralized potential may extend along strike onto the newly acquired properties.
The Company is currently focussed on expanding its resources across all categories (measured, indicated and inferred) as well as updating the economic assessment of the project. Upcoming milestones include:
- NI 43‐101 Resource Estimate for Kihitian
- Mineral Processing & Metallurgical Report
- Updated Preliminary Economic Assessment (encompassing multiple projects)
- Combined 43‐101 Resource Estimate for Colibri 2&3 + Tupuramani
- Prefeasibility Study
Laurence Stefan – President, CEO, and Director
Mr. Stefan is the founder of the Colibri Group of Companies in Peru and Managing Director of Minera Colibri. He has conducted metallurgical and mineralogical evaluation of over 200 mining and exploration projects throughout Central and South America, Europe, Africa and Asia and has compiled in excess of 1000 in-house reports: geological, mineralogical, mineral processing, engineering, mining activity, structural set-up, exploration strategies, resource/reserve evaluation and financial modeling.
He has deep operational experience in the fields of exploration, processing, pilot mining, legal evaluation, labor and social interaction in South America over the past twelve years. He has been involved in basic and specialised research in uranium metallurgical, recovery and enrichment programs at various gold-uranium mines along the Witwatersrand Basin in South Africa.
Philip Gibbs – Chief Financial Officer