Macusani Yellowcake (TSX-V: YEL)(FSX: QG1) said Wednesday that it has intersected additional high grade uranium values at its Kihitian property on the Macusani Plateau in Peru.
The drilling forms part of an ongoing exploration program on the Chilcuno Zone. Results include assays ranging from 3.0 to 5.0 metres with weighted average grades ranging from 0.081% U3O8 up to 0.26% U3O8.
"These results coupled with the previous adit channel and drill results announced late last year indicate the potential for a sizeable mineral resource at Kihitian," said CEO Peter Hooper.
"The goal of our drilling campaign at Kihitian for 2011 is to demonstrate continuity along strike and at depth and to begin delineating the high-grade mineral resource."
The company said that the latest intercepts are interpreted as possible extensions of the previous drill holes and adit channel results.
Macusani Yellowcake was up 1.6% at $0.62 as of 1:50pm EST on Wednesday.