Macusani Yellowcake Inc.
TSX VENTURE : YEL

Macusani Yellowcake Inc.

September 09, 2009 13:01 ET

Macusani Yellowcake (TSX VENTURE:YEL) Announces High Grade Uranium Intersections on Recently Acquired Corachapi Properties

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2009) - Macusani Yellowcake Inc. ("MYI" or the "Company")(TSX VENTURE:YEL) is pleased to announce the first set of results from three previously unassayed drill holes on its recently acquired Corachapi property on the Macusani Plateau in southern Peru. 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 results returned significant high grade uranium mineralization over long intervals including 49.0 metres grading 0.0508% U3O8 (161 feet grading 1.016 pounds of U3O8 per ton). 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. The latest drill hole results are summarized in the table on Page 2 of this press release.

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."



MACUSANI YELLOWCAKE INC. - CORACHAPI PROPERTY DRILLING RESULTS
--------------------------------------------------------------

CORACHAPI - Drilling Line 1200 Platform 6W
----------------------------------------------------------------------------
1 Borehole DD1200-1West-P06-CORA EOH 52.6 m
-------------------------------- ----------

----------------------------------------------------------------------------
From (m) To (m) Interval (m) U3O8 (%) Interval (ft) U3O8 (lb/t)
-------- ------ ------------ -------- ------------- -----------
0.0 49.0 49.0 0.0508 160.8 1.016
----------------------------------------------------------------------------

Interval (ft) U3O8 (lb/t)
------------- -----------
52.6 m @ 0.0474% U3O8 surface to bottom 172.6 0.948
of the hole
----------------------------------------------------------------------------

CORACHAPI - Drilling Line 0880 Platform 9E
----------------------------------------------------------------------------
2 Borehole DD0880-2 East-P09-CORA EOH 50.6 m
--------------------------------- ----------

----------------------------------------------------------------------------
From (m) To (m) Interval (m) U3O8 (%) Interval (ft) U3O8 (lb/t)
-------- ------ ------------ -------- ------------- -----------
0.0 26.0 26.0 0.0459 85.3 0.918
29.0 43.0 14.0 0.0092 45.9 0.184
----------------------------------------------------------------------------

Interval (ft) U3O8 (lb/t)
------------- -----------
50.60m @ 0.0254 % U3O8 surface to bottom 166.0 0.508
of the hole
----------------------------------------------------------------------------

CORACHAPI - Drilling Line 1280 Platform 1E
----------------------------------------------------------------------------
3 Borehole DD1280-2 East-P01-CORA EOH 52.0 m
--------------------------------- ----------

----------------------------------------------------------------------------
From (m) To (m) Interval (m) U3O8 (%) Interval (ft) U3O8 (lb/t)
-------- ------ ------------ -------- ------------- -----------
0.00 24.30 24.30 0.0411 79.7 0.822
29.90 32.70 2.80 0.0051 9.2 0.102
----------------------------------------------------------------------------

Interval (ft) U3O8 (lb/t)
------------- -----------
52.00m @ 0.0205 % U3O8 surface to bottom 170.6 0.410
of the hole
----------------------------------------------------------------------------


These three boreholes are the first to be received from a larger suite of boreholes that at present are split and sent for assays at CIMM laboratories in Lima, Peru. Contact drilled the Corachapi property over a strike length of 1.2 kilometres and left a parallel radiometric anomaly as well as the south and north extensions of the main anomaly undrilled. These three specific holes were drilled along lines 880, 1200 and 1280. On each platform two boreholes were drilled, orientated towards East and West and drilled roughly at 50 degrees. The distances between these holes were 320m and 60m respectively but they belong to a high density drilling pattern.

The holes intercepted mineralisation from surface, typical sets of fractures-filled autunite with associated dissemination.

Qualified Person

Mr. Ian Foreman P.Geo., of Foremost Geological Consulting, an independent consultant, is a Qualified Person, as defined under National Instrument 43-101, and has reviewed the scientific or technical data contained in this release.

About Macusani Yellowcake

Macusani Yellowcake owns over 22,000 hectares (2,000 km2) of mineral properties on the Macusani Plateau in Peru.

There are 41,731,284 common shares of Macusani Yellowcake Inc. outstanding (55,807,712 common shares, fully diluted).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information