Location
The company is exploring a major uranium concession in southeastern Peru. Concessions cover over 24,000 hectares (240 km2) in the Puno District which is approximately 650km south east of the capital Lima.
The concession area is situated in the relatively flat Altiplano of the Eastern Cordillera of the Andes Mountain Range. Elevation ranges from 4334m to 4580m above sea level. The nearest towns to the project are Macusani and Corani.
The closest airport to the project area is Juliaca which is approximately 180km from the southern boundary of the concession. The Juliaca airport receives daily flights from Lima and Cusco. The Interoceanic Highway passes 11km to the east of the property. An untarred road, in good condition, connects the project area to the Interoceanic Highway.
Exploration Targets
The company has exploration concessions in the Macusani, Munani, Lagunillas and Rio Blanco areas. Exploration activities are currently focussed on four targets in the Macusani Plateau properties.
| Target | Highlights | ||
| Colibri 2 & 3 | 123 diamond drill holes to date. 2.1M lbs of U3O8 indicated and 14.5M lbs inferred to date (see grades below). Preliminary Economic Assessment study expected in Mar. 2010 | ||
| Corachapi | 193 diamond drill holes to date. Completing assays; NI 43-101 report expected Q1-2010. Preliminary Economic Assessment study expected in Apr. 2010 | ||
| Kihitian | Resampled 900m of adit developed by Peruvian Nuclear Energy Institute in the early 1980's. Initial NI 43-101 report expected Mar. 2010. | ||
| Colibri 1 & 5 | Initial holes show similar values to Corachapi. | ||
Mineral Resources
An NI 43-101 report has been completed for the Colibri 2 & 3 concession. The total in ground numbers at 75 ppm cut off are: Indicated Resources of 2,095,658 lbs at a grade of 0.44 lbs per short ton and Inferred Resources of 14,492,321 lbs at a grade of 0.34 lbs per short ton. The details of the identified mineral resources for Colibri 2 & 3 are as follows:
Indicated Mineral Resources
Inferred Mineral Resources
