Macusani Yellowcake expands drilling program at Kihitian uranium project in Peru

Source: Macusani Yellowcake Inc.

Macusani Yellowcake Inc. (the Company) (TSX:YEL) is pleased to announce the expansion of its drilling program at Kihitian Uranium Property on the Macusani Plateau in Puno, Peru and issue of stock options. 

Update on Kihitian Project Exploration Program 

The exploration programme at Kihitian is progressing with two drills currently turning at the Chilcuno Chico anomaly. To date the Company has completed 44 drill holes with the objective of extending the strike of both the A and B mineralized zones. Drilling thus far has resulted in an increased strike length of 400 metres on the A zone and 700 metres on the B zone. 

Exploration is being expanded to the Quebrada Blanca anomaly. Currently, a third drill rig has mobilized to commence drilling. A recently completed ground radiometric survey for this anomaly shows encouraging results. Further assay results are expected in the coming weeks. 

Grant of Stock Options 

Subject to regulatory approval, the Company has granted stock options to acquire an aggregate of 2,390,000 common shares to directors, officers, employees and consultants of Macusani and its Peruvian subsidiary under its stock option plan. Each option is exercisable for a three year period to acquire one common share at a price of $0.25 per share. The options granted vest as to one-quarter immediately and a further one-quarter on each of the 6, 12 and 18 month anniversaries of the date of grant.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs