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Southern Andes Energy Discovers Uranium Mineralization at Chacaconiza Project

Southern Andes Energy Inc. (TSX VENTURE:SUR) has announced the discovery of widespread uranium mineralization from preliminary work on its Chacaconiza project area in the Macusani Uranium District, Southeast Peru.

Accocucho Sur Discovery

Initial results from a comprehensive exploration program consisting of detailed mapping, hand supported radiometric surveys, trenching and channel sampling from a portion of the Accocucho Sur target, one of four targets located in the large Chacaconiza project area, have returned significant widespread uranium mineralization from intensely fractured volcanic ash flow tuffs and ignimbrites. The mineralized area is characterized by a radiometric anomaly striking for 1.5 km that was outlined during a regional survey done in 2006.

Commenting on the results, Nick Tintor, President and CEO stated that "These are excellent preliminary results from just a small part of one large radiometric anomaly that underscores the potential we see at Chacaconiza." Tintor further added that "The increase in disseminated uranium in Trench 14 is especially of significance as the majority of uranium found to date in the Macusani Uranium District is fracture controlled."

Highlights of the limited sampling program include:

  • Channel C-1: 1,114.7 ppm U3O8 across 8.35 m
  • Channel C-9: 702.5 ppm U3O8 across 6.45 m
  • Trench T-4: 634.1 ppm U3O8 across 8 m
  • Trench T-12: 1,734.5 ppm U3O8 across 2 m
  • Trench T-14: 246.8 ppm U3O8 across 48.95 m

About Accocucho Sur and the Chacaconiza Project Area

Accocucho Sur is one of four large radiometric anomalies comprising the Chacaconiza project area. Covering more than 3,700 hectares and measuring approximately 7 km by 5 km, Chacaconiza is the largest and strongest radiometric anomaly identified in the Macusani Uranium District which has never been drill tested.

The area tested in Zone 1, which measures approximately 100 m by 80 m, is characterized by secondary autunite uranium mineralization occurring as fracture fillings associated with a northwest-southeast striking system. Some disseminated uranium also occurs between fractures. Mineralization remains open to the northwest along the trend of the ground radiometric anomaly.

The area tested in Zone 2 is approximately 270 m by 120 m in dimension and is characterized by three fracture sets of which the northwest-southeast striking set is the primary uranium host. This zone remains open to the northwest and to the southeast.

Zone 1 and Zone 2, are separated by approximately 400 m of ground which was not tested due to a thicker cover of residual soils. However one outcrop located between Zone 1 and 2 returned 1,360.9 ppm U3O8 across 1.55 m in C-10. This suggests that there is good potential for extensions of uranium mineralization from Zone 1 to Zone 2 under the soil cover.

A highlight of the program is Trench 14 in Zone 2, which assayed 246.8 ppm U3O8 across 48.95 m. This trench displays widespread disseminated uranium mineralization in between close spaced fracture sets. Mineralization remains open at both ends of the trench.

Alpi-1 Anomaly

Southern Andes' exploration team is also conducting prospecting work on the Alpi-1 anomaly at Chacaconiza, a large radiometric anomaly striking for more than 3 km. An area of this mineralized zone is characterized by intensely fractured red iron oxide stained ignimbrites with local visible autunite. During the reconnaissance program completed in August, these fractures returned elevated scintillometer readings ranging from 1,060 CPS to 12,000 CPS across a width of 40 m.

Tupuramani Concession

The Company is also planning to complete a reconnaissance of its Tupuramani concessions before year end. Tupuramani is characterized by a strong 1.5 km long radiometric anomaly on strike with the Colibri II-III deposit which is reported to host inferred uranium resources.

Following the completion of this year's reconnaissance programs, the Company will finalize a drill program budget and complete permit applications for a comprehensive drill campaign beginning in the latter part of the first quarter next year.

Mr. Alain Vachon, P.Geo, Manager – Exploration and the Company's Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this press release.


Southern Andes Energy Inc.

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