Plateau Energy extends uranium trend at Macusani Project

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Plateau Energy Metals Inc. [PLU-TSXV; PLUUF-OTCQB; QG1-FSE] reported positive uranium prospecting and sampling results extending existing drilled deposit trends and identifying new anomalies for future exploration drill testing at the company’s Macusani uranium project area located approximately 25 km from its 100%-owned Falchani lithium project in southeast Peru.

Uranium prospecting and sampling work identified extensions to seven existing deposits and three new anomalies. Greater than 80 sample results ranged from background uranium levels to in excess of 40% U3O8, average of all samples collected and analyzed is 2.3% U3O8.

Drill targets were identified for potential extensions to the Colibri II deposit on strike for 1.2-1.5 km NE/NNE based on radiometric prospecting. Radiometric prospecting and grab sampling suggest mineralized links between deposits in the main Macusani mineralized trends on the Kihitian, Isivilla and Corani Complexes. Historically unconsolidated concession package offers opportunity to drill untested targets as potential continuations of the primary mineralized horizon

“The results of the radiometric prospecting and sampling program are excellent and support our view of the exciting potential for growth at Plateau’s Macusani Uranium Project. We control substantial, and indeed, all known uranium resources in Peru and our uranium mineral concessions essentially cover the majority of the entire prospective District. Future drilling will ultimately be required to delineate additional mineralization to expand our uranium resource base; however, the full potential of the Macusani Uranium District continues to remain under tested,” commented Laurence Stefan, President and COO.

During November and December 2020, while adhering to strict national and local COVID-19 regulations and with the support of local communities, Plateau’s technical team in Peru completed surface exploration work consisting of radiometric prospecting and outcrop sampling. Radiometric prospecting covered new areas as well as extending from existing, drilled uranium mineral resource areas in seven areas with more than 11,000 recorded stations.

As part of the prospecting work, outcrop sampling was also completed over some of the newly prospected areas and areas specifically selected between drilled uranium deposits to locate, understand and confirm uranium mineralization potentially linking or extending the individual deposits. A total of 82 outcrop grab samples were collected and analyzed to date with uranium contents ranging from 6 ppm U (7.5 ppm U3O8) to 377,400 ppm U (44.5% U3O8).


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