Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), “Blue Sky” or the “Company”) is pleased to announce that the Company is launching a 3,500 metre reverse circulation (“RC”) exploration drilling program to expand and upgrade the Ivana Deposit within its wholly-owned Amarillo Grande Uranium-Vanadium Project (“AGP”) in Rio Negro Province, Argentina.
The previously announced 4,500 metre regional exploration drilling campaign remains in progress. Complete final results from initial exploratory drilling at Ivana North are expected to be received and interpreted shortly, and the second portion of the planned program focused at Ivana Central will resume once updated permits are received.
“Our goal to advance the Amarillo Grande Project into a multi-deposit uranium district requires a two-pronged approach to both identify new deposits through exploration along the 145-kilometre-long project trend and advance our cornerstone Ivana deposit. We believe that this additional drilling at Ivana has potential to expand and upgrade the current mineral resources” stated Nikolaos Cacos, Blue Sky President & CEO.
The planned Ivana drilling program will include an estimated 260 shallow holes. Drilling will test the potential expansion of the Ivana deposit to the west where the 2018 pit channel sampling program returned encouraging results, including up to 5,032 ppm U3O8 & 323 ppm V2O5 over 1.7m at AGI-CAL26 (see Press Releases dated November 15, 2018 and April 29, 2019). Pit sampling only tested to depths of less than three metres, so the near-surface mineralization in this area remains open at depth. In addition, the new drill program includes holes in areas of lower drill hole density at the margins of, and within, the Ivana deposit to aid in upgrades to the mineral resource estimate that will support advanced engineering studies.
About the Amarillo Grande Project
The Company’s 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province, Argentina is a new uranium district controlled by Blue Sky. The Ivana deposit is the cornerstone of the Project and the first part of the district for which both a Mineral Resource Estimate and a Preliminary Economic Assessment have been completed. Mineralization at the Ivana deposit has characteristics of sandstone-type and surficial-type uranium-vanadium deposits.The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a district-size system. In the surficial-type deposits, mineralization coats loosely consolidated pebbles, and is amenable to leaching and simple upgrading.
The Project includes several other target areas over a regional trend, at or near surface. The area is flat-lying, semi-arid and accessible year-round, with nearby rail, power and port access. The Company’s strategy includes delineating resources at multiple areas and advancing the entire project to prefeasibility level.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company’s objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to of properties in two provinces in Argentina. The Company’s flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
www.ferroalloynet.com
