Blue Sky Reports Uranium Mineralization in Initial Drilling at Ivana Gateway Target
Blue Sky Reports Uranium Mineralization in
Initial Drilling at Ivana Gateway Target
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2026) -
Blue Sky Uranium Corp. (TSXV:
BSK) (FSE: MAL2) (OTCQB: BKUCF) ("Blue Sky" or the "Company")
is pleased to announce the
first set of results from diamond drilling at the Ivana Gateway target within its 100%-owned Amarillo
Grande Uranium-Vanadium Project in Rio Negro Province, Argentina. The drilling program was
launched in December 2025 with a plan to drill a fence of holes across approximately 4300 metres to
test for mineralization and/or geochemical vectors related to a northern extension to the Ivana uranium
deposit (see news release dated
December 17, 2025
). The first set of 12 holes, totaling 796 metres in
combined depth, were drilled across the eastern side of the Ivana Gateway target (Figure 1) and
confirmed the presence of uranium mineralization (Table 1), including:
3.4m averaging 272 ppm U
₃
O
₈
in AGIG-007, starting at 54m, including:
0.5m @ 815 ppm U
₃
O
₈
1.5m averaging 302 ppm U
₃
O
₈
in AGIG-002: starting at 57m
The mineralized intervals occur within organic-rich, reduced sandstone horizons consistent with roll-front
conditions and the geological model established at the nearby Ivana Deposit (Figure 2). These reduced
units correlate spatially with previously identified IP chargeability anomalies, interpreted to reflect
disseminated pyrite developed under reducing conditions rather than uranium directly. The highest
uranium grades coincide with elevated handheld scintillometer (RS-125) readings. The mineralized
intervals also show association with pathfinder elements (Mo, W, Ag, Cu, Pb, Zn), consistent with the
redox front model.
The program is now continuing with the second phase to drill six holes across the remaining 400m on the
western side of the target (Figure 1), where integrated geological interpretation and Induced Polarization
("
IP
") surveys
define a compelling exploration corridor along the interpreted redox trend between Ivana
Central and the Ivana Deposit (see news release dated
October 16, 2025
).
Nikolaos Cacos, Blue Sky President & CEO commented,
"Ivana Gateway continues to demonstrate the
geological characteristics we associate with uranium mineralization along the Amarillo Grande trend.
The combination of confirmed uranium intercepts to the east and an untested strong coincident IP
anomaly to the west provides a clear and compelling target for the follow-up drilling that we are
initiating. We believe this work has the potential to further expand the mineralized footprint within
trucking distance of the Ivana Deposit."
The Ivana Gateway target is located on concessions held by Blue Sky via its 100% owned subsidiary,
Minera Cielo Azul S.A. ("
MCA
").
This drilling program is funded by Ivana Minerales S.A. ("
IMSA
") the
joint venture company ("
JVCO
") established to advance the Ivana Uranium-Vanadium Project. Under the
terms of the definitive agreement announced on December 2, 2024 IMSA has the exclusive right and
option ("
Call Option
") to acquire up to a 100% interest in certain exploration targets ("
Exploration
Targets
") at Amarillo Grande. To exercise this right, IMSA must incur certain funding obligations over
the six-year term of the Call Option, pay the relevant option price pursuant to the formula set out in the
Call Option, and grant to MCA a 2% royalty on all Exploration Targets acquired under the Call Option.
Methodology and QA/QC
The diamond drilling program was carried out by AGV Falcon Drilling. Core is logged, photographed,
and geologically described. Mineralized intervals are identified based on lithology, alteration, and
radiometric response, where applicable. Sample intervals are determined by geological boundaries and
typically range from approximately 0.15 to 1.5m in length.
Samples were sent to ALS in Mendoza, Argentina for preparation by drying, crushing to 70% <2mm,
riffle splitter 250g and pulverize to 85% <75 µm. Pulps were sent to ALS in Lima, Peru for analysis of
multi-elements ultra-trace method combining four acid digestion with Inductively Coupled Plasma ("
ICP
")
instrumentation. Digestion is performed on 0.25g of sample to quantitatively dissolve most geological
materials. Analytical analysis is performed with combinations of ICP-AES (Atomic Emission
Spectrometry) & ICP-MS (Mass Spectrometry). Approximately every 10th sample, blank, duplicate, or
standard samples were inserted into the sample sequence for quality assurance/quality control
("
QA/QC
"). The internal assessment of the QA/QC data for the exploration program determined that the
analytical results reported herein are within standard industry limits.
Figures and Tables
Figure 1. Ivana Gateway Target Drilling Program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12078/284957_9853459bf426fa0b_001full.jpg
Figure 2. Ivana Gateway Target Section A-A
'
(see Figure 1 for Location).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12078/284957_9853459bf426fa0b_002full.jpg
Table 1. Ivana Gateway Target Drill Holes and Intervals with at least 1 m@30 ppm U
3
O
8
*
HOLE_ID
Easting
Northing
Elevation
(m)
Hole
length
(m)
From
(m)
To
(m)
Interval (m)
U
3
O
8
(ppm)
V
(ppm)
AGIG-001
3478905
5519768
89.24
60
No significant intervals
AGIG-002
3479096
5529780
88.64
60
57.0
58.5
1.5
302
2
AGIG-003
3479455
5529738
87.37
63
No significant intervals
AGIG-004
3479722
5529776
86.8
60
No significant intervals
AGIG-005
3479978
5529814
87.32
63
61.5
63
1.5
39
56
AGIG-006
3480254
5529842
87.21
80
53.7
55.9
2.2
76
84
AGIG-007
3480558
5529898
87.58
72
54.1
57.5
3.4
272
22
Including
57
57.5
0.5
815
17
AGIG-008
3481793
5530083
83.31
65
No significant intervals
AGIG-009
3478824
5529521
88.93
80
51.0
53
2
52
19
AGIG-010
3478739
5529329
90.74
60
47.05
48
1.0
57
68
AGIG-011
3480532
5529627
87.11
70
50.0
51.7
1.7
38
34
53.7
56
2.3
107
49
59.9
62
2.1
42
90
AGIG-012
3481377
5529614
83.21
63.5
53.1
55.6
2.5
70
78
*All holes were drilled vertical, and the reported intervals are believed to represent true thickness
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG,
who works for the Company and is a Qualified Person as defined in National Instrument 43-101.
About Ivana Minerales S.A.
Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner
Abatare Spain, S.L.U. ("
COAM
") to advance the Ivana Uranium-Vanadium deposit in Rio Negro
Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the "
Agreement
") in
which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity
interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO
by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to
develop and construct the project to commercial production, subject to the terms and conditions in the
Agreement. JVCO also has a Call Option to acquire a 100% interest in all or part of certain exploration
targets owned by Blue Sky's 100% held subsidiary, subject to certain conditions. For additional details,
please refer to the News Release dated February 27, 2025, as well as the Company's latest Financial
Statements & MD&A available at
blueskyuranium.com
.
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 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'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's recently optioned Corcovo project has
demonstrated potential to host an in-situ recovery uranium deposit. The Company is a member of the
Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
______________________________________
Nikolaos Cacos, President, CEO and Director
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within
the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks
and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-
looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes",
"intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this
press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the
Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the potential to further
expand the mineralized footprint within trucking distance of the Ivana Deposit, the Company's planned drilling campaigns, its objectives and the
potential mineral content of its projects. Forward-looking statements are not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can
be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events
to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal
and transition metal price fluctuations, particularly uranium and vanadium; risks relating to the dependence of the Company on key management
personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability
to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities;
and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in
respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently
anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of
factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this
press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as expressly required by securities law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/284957