Southern Andes Energy Discovers Additional High Grade Uranium Mineralization on Its Tupuramani Project, Peru
07 Settembre 2011 - 11:12PM
Marketwired Canada
Southern Andes Energy Inc. (TSX VENTURE:SUR), ("Southern Andes" or "the
Company"), is pleased to announce that a recent field exploration program has
identified five new zones of high grade uranium mineralization on its Tupuramani
project in the Macusani Uranium District, Southeast Peru.
"These new results significantly expand the exploration potential at Tupuramani
by adding almost 4 kilometres of strike potential in five targets and all within
3 kilometres of our main Tupuramani discovery," Nick Tintor, President and CEO
of Southern Andes commented.
Highlights from reconnaissance trenching, channel sampling and pitting from
these previously untested targets include:
-- Pit K-10 on the Micha Michani #2 anomaly assayed 3,118 parts per million
("ppm") (0.32%) U3O8 or 6.24 lbs U3O8 per ton.
-- Channel C-9 on the Condorillo #2 anomaly assayed 5,900 ppm (0.59%) U3O8
or 11.8 lbs U3O8 per ton across 1 metre.
-- A high of 1.68% U3O8 or 33.6 lbs U3O8 per ton across 0.6 metres in
trench T-35 on the Condorillo #1 anomaly.
See the attached map for anomaly locations and the complete set of results in
the tables below.
This year's program was designed to follow up the 2010 reconnaissance work which
outlined significant high grade uranium mineralization on the main Tupuramani
anomaly which is believed to represent the westerly extension of the anomaly
underlying the Colibri II-III uranium deposit owned by Macusani Yellowcake Inc.
The Colibri II-III deposit has been reported to host NI 43-101 an indicated
resource of 5.4 million lbs U3O8 grading 0.027% U3O8 and an inferred resource of
15.1 million lbs U3O8 grading 0.02% U3O8 at a 75 ppm U3O8 cut-off grade,
according to information published by Macusani Yellowcake Inc. (See Southern
Andes Press Release dated January 20, 2011).
The current program identified widespread uranium mineralization in all five
target areas which correlate positively with high surface radiometric anomalies.
Uranium mineralization occurs as fine disseminations of autonite and
meta-autonite filling randomly oriented sub-vertical fractures and sub-
horizontal fractures and disseminated in between fractures in flat lying ash
crystal tuffs of the Quenamari Formation.
Results from the program are listed below.
ANOMALY TUPURAMANI # 1 (1)
--------------------------------------------------------------
ppm U3O8/metre Lbs U3O8/s.ton
Sample (2) (3)
--------------------------------------------------------------
Trench T-1: Zone 1 870.3/33.5 1.74
--------------------------------------------------------------
Trench T-1: Zone 2 3624.2/5.3 7.25
--------------------------------------------------------------
Trench T-2 3191.7/20 6.38
--------------------------------------------------------------
Trench T-3 3569.4/12 7.14
--------------------------------------------------------------
Trench T-4 1299.4/15.8 2.60
--------------------------------------------------------------
Trench T-5 1162.1/1.6 2.32
--------------------------------------------------------------
Trench T-6 2528.5/4.6 5.06
--------------------------------------------------------------
Trench T-7 235.5/13.4 0.47
--------------------------------------------------------------
Channel C-1 980.7/6.1 1.96
--------------------------------------------------------------
ANOMALY MICHA MICHANI # 2
--------------------------------------------------------------
Sample ppm U3O8/metre Lbs U3O8/s.ton
--------------------------------------------------------------
Pit K-1 2924 5.88
--------------------------------------------------------------
Pit K-2 1880 3.76
--------------------------------------------------------------
Pit K-3 818 1.64
--------------------------------------------------------------
Pit K-4 795 1.59
--------------------------------------------------------------
Pit K-6 707 1.41
--------------------------------------------------------------
Pit K-8 1104 2.20
--------------------------------------------------------------
Pit K-9 294 0.58
--------------------------------------------------------------
Pit K-10 3118 6.24
--------------------------------------------------------------
Pit K-11 639 1.28
--------------------------------------------------------------
Pit K-12 175 0.35
--------------------------------------------------------------
Trench T-26 1007/1.5 2.01
--------------------------------------------------------------
Trench T-27 1595/0.9 3.19
--------------------------------------------------------------
Trench T-28 606.6/3.2 1.21
--------------------------------------------------------------
Trench T-29 3389.8/1.9 6.80
--------------------------------------------------------------
Trench T-30 8386/0.5 16.77
--------------------------------------------------------------
Trench T-31 2328/0.5 4.66
--------------------------------------------------------------
Trench T-36 507.9/2.5 1.02
--------------------------------------------------------------
Trench T-37 3765/2.5 7.53
--------------------------------------------------------------
Trench T-38 1090.3/2.55 2.18
--------------------------------------------------------------
ANOMALY MICHA MICHANI # 1
--------------------------------------------------------------
Sample ppm U3O8/metre Lbs U3O8/s.ton
--------------------------------------------------------------
Trench T-9 239/1.5 0.48
--------------------------------------------------------------
Trench T-10 1186.1/0.5 2.37
--------------------------------------------------------------
Trench T-11 682.4/9.8 1.36
--------------------------------------------------------------
Trench T-12 651.1/2.85 1.30
--------------------------------------------------------------
Channel C-2 532.1/2.2 1.06
--------------------------------------------------------------
ANOMALY CONDORILLO # 1
--------------------------------------------------------------
Sample ppm U3O8/metre Lbs U3O8/s.ton
--------------------------------------------------------------
Channel C-3 1966/0.5 3.93
--------------------------------------------------------------
Channel C-12 109.6/0.5 0.22
--------------------------------------------------------------
Channel C-13 399.7/0.5 0.80
--------------------------------------------------------------
Channel C-17 1235/0.5 2.47
--------------------------------------------------------------
Channel C-18 195.4/1.85 0.39
--------------------------------------------------------------
Channel C-19 1100/0.6 2.20
--------------------------------------------------------------
Channel C-21 1604/0.5 3.21
--------------------------------------------------------------
Channel C-22 1383/0.5 2.77
--------------------------------------------------------------
Trench T-14 985/0.6 1.97
--------------------------------------------------------------
Trench T-15 3158.7/2.95 6.32
--------------------------------------------------------------
Trench T-19 962/2.95 1.92
--------------------------------------------------------------
Trench T-20 4301.1/2.6 8.60
--------------------------------------------------------------
Trench T-21 3552.9/1.2 7.11
--------------------------------------------------------------
Trench T-22 2048.9/1.40 4.10
--------------------------------------------------------------
Trench T-23 438.5/3.5 0.88
--------------------------------------------------------------
Trench T-32 965.1/3.6 1.93
--------------------------------------------------------------
Trench T-33 406.9/11.35 0.81
--------------------------------------------------------------
Trench T-34 829/0.5 1.66
--------------------------------------------------------------
Trench T-35 1.68%/0.6 33.6
--------------------------------------------------------------
Trench T-39 548/0.70 1.10
--------------------------------------------------------------
Trench T-40 1743/1.6 3.49
--------------------------------------------------------------
Trench T-41 668.8/1.3 1.34
--------------------------------------------------------------
ANOMALY CONDORILLO # 2 ANOMALY CONDORILLO # 3
---------------------------------------- ----------------------------------
ppm Lbs ppm Lbs
Sample U3O8/metre U3O8/s.ton Sample U3O8/metre U3O8/s.ton
---------------------------------------- ----------------------------------
Channel C-4 932/0.5 1.86 Channel C-7 1318/0.5 2.64
---------------------------------------- ----------------------------------
Channel C-5 1380/0.6 2.76 Channel C-8 662.7/0.5 1.33
---------------------------------------- ----------------------------------
Channel C-6 1219.1/1.1 2.44 Trench T-13A 225.2/2.2 0.45
---------------------------------------- ----------------------------------
Channel C-9 5900.5/1.0 11.80 Trench T-13B 234/2.6 0.47
---------------------------------------- ----------------------------------
Channel C-10 1134/0.5 2.27 Trench T-16 1899/0.5 3.80
---------------------------------------- ----------------------------------
Channel C-11 820.7/1.1 1.64 Trench T-17 648.5/1.0 1.30
---------------------------------------- ----------------------------------
Channel C-15 897/0.6 1.79 Trench T-18 204/0.5 0.41
---------------------------------------- ----------------------------------
Channel C-16 1919.2/1.5 3.84
----------------------------------------
Channel C-20 2294/2.5 4.59
----------------------------------------
Trench T-25 8048/0.6 16.10
----------------------------------------
(1) Tupuramani #1 results were previously reported. See press release dated
January 20, 2011
(2) Parts per million
(3) Pounds per short ton. One short ton=2,000 lbs or 0.907 metric tonnes
To view the Tupuramani Target Map please visit the following link:
http://media3.marketwire.com/docs/southernandes907.jpg.
Community, Social Relations and Drilling Plans
The Puno District in Southern Peru experienced a series of major protests last
May and June which led to a disruption of services and exploration activities in
the region. Despite the seriousness of the protests, Southern Andes Energy has
always maintained positive relationships with the communities in our work areas
and is pleased to report that the Company has signed Community Agreements with
most of the communities in our operating areas. This also includes agreements
with local private landowners.
With the signing of all relevant community agreements, the Company has submitted
its Declaracion de Impacto Ambiental ("DIA") with the Ministry of Energy and
Mines and anticipates beginning a drill program in November. The DIA will allow
the Company to construct up to 20 drill platforms with an initial 2,000-metre
program designed to test all six targets in the Turpuramani project area.
QC/QA Protocols
Sampling consists of rock chip samples taken over lengths varying from 0.5
metres to 2.0 metres with each sample weighing approximately 1.5 to 3 kilograms.
Assays were performed by CIMM in Lima, Peru, an ISO/IEC 17025 accredited
laboratory, using a multi-acid digestion process. Sample preparation was
completed by CIMM in Juliaca, Peru. A comprehensive Quality Control and Quality
Assurance protocol has been implemented including the insertion of two blanks,
two standards and three duplicates for each 100 samples processed.
Qualified Person
Mr. Alain Vachon, P.Geo, Southern Andes Vice President Exploration and the
Company's Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the contents of this press release.
About Southern Andes Energy Inc.
Southern Andes Energy Inc. is focused on exploring and developing uranium
resources to meet the world's growing demand for clean energy. The Company is
the largest landowner in the emerging Macusani Uranium District in Peru with
holdings of more than 65,000 hectares of land. The Company owns a 7% equity
interest in Macusani Yellowcake Inc., which controls two advanced stage uranium
projects in the district and also a 65% interest in Caracara Silver Inc., (TSX
VENTURE:CSV) which has been created to advance and develop the Company's
extensive silver and zinc projects in Peru.
Forward-looking Statements
This news release may contain forward-looking statements that are based on
Southern Andes Energy Inc.'s expectations, estimates and projections regarding
its business and the economic environment in which it operates. These statements
are not guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. Therefore, actual outcomes and results
may differ materially from those expressed in these forward-looking statements
and readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or the occurrence
of future events or circumstances, unless otherwise required to do so by law.
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