Canadian uranium company Macusani Yellowcake has reported the initial assay results from the first drill hole of its 99.5%-owned Kihitian uranium property on the Macusani Plateau, Peru.

These results represent only the upper 100m of the first drill hole in the Chilcuno zone in which the total depth of this hole is 200m.

The company had earlier said that 297m of existing adits in the Chilcuno zone of the Kihitian property had been channel sampled and returned an average of 0.626% U3O8 (12.52 lbs U3O8 per ton) from 146 samples.

Macusani Yellowcake CEO Peter Hooper said that the latest results confirm that the Kihitian property contains some of the highest uranium grades drilled to date on our Macusani properties.

With a radiometric anomaly that runs over 4 km of strike length, we are optimistic that a significant high grade, shallow uranium deposit can be outlined by further drilling," Hooper said.

Based on the previous work performed by the company’s geologists on the adits, the company believes that the high grade zone sits in a roughly horizontal orientation.