Macusani Yellowcake Inc. (TSX: V.YEL, Stock Forum) said intersections from its ongoing drilling program at the Quebrada Blanca anomaly on its flagship Kihitian Property, which is located in south-eastern Peru.
The Quebrada Blanca anomaly is located approximately 2 kilometres northwest of the Chilcuno Chico anomaly on the Kihitian property, on the northwest border of the concession.
According to the Macusani Yellowcake press release, drill holes PT-QB44-TV and PT-QB36-TV appear to have discovered a new mineralized horizon occurring at depths between 80 to 100 metres below manto "B". This new mineralized sequence, also intercepted in hole 42V, has a thickness of 7 to 8 metres and grades ranging from 0.25 to 0.65 pounds per tonne uranium.
Drilling continues at the Quebrada Blanca anomaly, with one rig extending the drilling activities towards south and east of the main ravine, in order to test at depth visual uranium mineralization that outcrops on surface.
The exploration target for the company is to reach 55 million to 65 million pounds of uranium resources by the end of 2013.
Macusani Yellowcake is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in southeastern Peru.
On Monday, Macusani Yellowcake was up 10% and was trading at $0.11 a share. The company has a market cap of $17.5 million, based on 159.5 million shares outstanding. The 52-week high and low was $0.245 and $0.09 respectively.