TORONTO, ONTARIO--(Marketwire - Jan. 30, 2013) - Macusani Yellowcake Inc. (the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) today announced that drill results reported on January 24, 2013 included a miscalculation for the grade of a 2 meter intersection (from 49.0m) on Borehole PT-QB32-TNW.
The correct drill result is included in the revised table below.
| Depth (m) |
From (m) |
To (m) |
Intersection (m)* |
Grade (ppm) |
Grade (lbs/ton) |
|
| PT-QB34-TSE | 115.50 | 15.00 | 29.00 | 14.00 | 1,902 | 3.804 |
| including | 18.00 | 26.00 | 8.00 | 3,286 | 6.572 | |
| 56.00 | 57.00 | 1.00 | 81 | 0.162 | ||
| PT-QB32-TNW | 100.50 | 48.00 | 54.00 | 6.00 | 1,164 | 2.327 |
| including | 49.00 | 50.00 | 1.00 | 6,770 | 13.540 | |
| PT-QB32-TSE | 151.00 | 4.00 | 6.00 | 2.00 | 106 | 0.212 |
| 11.00 | 14.00 | 3.00 | 77 | 0.154 | ||
| 36.00 | 51.00 | 15.00 | 876 | 1.752 | ||
| including | 37.00 | 43.00 | 6.00 | 1,537 | 3.074 | |
| including | 48.00 | 50.00 | 2.00 | 1,843 | 3.686 | |
| PT-QB42-TNW | 115.00 | 38.00 | 72.00 | 34.00 | 327 | 0.654 |
| including | 45.00 | 51.00 | 6.00 | 1,075 | 2.150 | |
| PT-QB32-TSW | 121.50 | 25.00 | 28.00 | 3.00 | 124 | 0.248 |
| 33.00 | 58.00 | 25.00 | 275 | 0.550 |
Dr. Laurence Stefan, President and CEO of Macusani Yellowcake, commented, "The miscalculation is regrettable and unfortunate. The resulting new interval is still a very good result. We remain confident in our efforts to advance our Kihitian project to date, and expect to complete an updated resource calculation in Q2 of this calendar year."
Previous assay data, maps and a sample cross section are available on the Company's website at www.macyel.com/properties/.
Qualified Person
Mr. Ian Foreman, P.Geo., of Foremost Geological Consulting, an independent consultant to the Company, is a Qualified Person as defined under National Instrument 43-101, and has reviewed and approved the scientific and technical data contained in this release.
About Macusani Yellowcake
Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company owns a 99.5% interest in concessions which cover over 90,000 hectares (900 km2) and are situated near significant infrastructure. Macusani Yellowcake is listed on the TSX Venture Exchange under the symbol 'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 159,473,613 shares outstanding. For more information please visit www.macyel.com.
This news release includes certain forward-looking statements concerning the future performance of Macusani's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Macusani nor its management assume any obligation to revise or update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Laurence Stefan
President and CEO
+1-416-628-9600
laurence@macyel.com
www.macyel.com
Facebook: www.macyel.com/facebook/
Twitter: www.twitter.com/macusani/