Date: Apr 19, 2018
VANCOUVER, British Columbia, April 18, 2018 (GLOBE NEWSWIRE) — Blue Sky Uranium Corp. (TSX-V:BSK) (FSE:MAL2) (OTC:BKUCF), (“Blue Sky” or the “Company”) is pleased to announce that the Company has filed the NI 43-101 Technical Report (the “Report”) supporting disclosure of the initial independent mineral resource estimate for the Ivana Deposit at the Company’s 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina, as reported on March 5th, 2018.
Highlights
- Inferred mineral resource estimate of 23.9 million tonnes averaging 0.036% U308 and 0.019% V2O5, containing 19.1 million pounds of U3O8 and 10.2 million pounds of V2O5, at a 100 ppm uranium cut-off.
- The Ivana uranium-vanadium deposit exhibits characteristics of both Surficial and Sandstone-hosted uranium-vanadium deposits and includes an upper zone, comprised mainly of oxidized mineralization, and a lower zone, containing predominantly primary-style mineralization.
- Mineralization is hosted by loosely consolidated sediments from surface to 24 metres depth; potentially amenable to physical beneficiation by simple scrubbing and wet screening as previously demonstrated elsewhere on the Project (see Blue Sky news release dated February 7th, 2011).
- Preliminary alkaline leaching results of the surficial oxidized mineralization returned recoveries of over 95% for uranium and 60% for vanadium in 3 hours.
- Beneficiation test work for both mineralization types in progress, and leach test work for primary mineralization is in progress.
- The Ivana deposit remains open for “brownfield” expansion for surficial uranium – vanadium mineralization and sandstone-type uranium primary mineralization.
- Interpretation of the geological model suggests that the Ivana deposit is the southernmost expression of a regional mineralization front that continues along the Amarillo Grande Project trend.
- Additional uranium and/or vanadium targets exist throughout the 140-km long trend covered by the 100% controlled BSK properties.
“This report represents a significant first step towards the delineation of this new uranium and vanadium district in Argentina,” commented Nikolaos Cacos, Blue Sky President & CEO. “Our initial view of the size of the Ivana deposit was surpassed with this resource estimate, and with the potential for additional uranium-vanadium deposits elsewhere on the project, we are confident that we will continue to build value for our shareholders.”
