Blue Sky Uranium Completes Comprehensive GAP Analysis for Ivana Deposit and Identifies Clear Roadmap to Feasibility
Blue Sky Uranium Completes Comprehensive GAP Analysis for Ivana
Deposit and Identifies Clear Roadmap to Feasibility
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC
,
Nov. 26, 2025
/CNW/ -
Blue Sky Uranium Corp.
(TSXV: BSK) (FSE: MAL2) (OTC: BKUCF)
, "Blue Sky"
or the
"Company")
is pleased to
announce the completion of a comprehensive Gap Analysis for the Ivana Uranium-Vanadium Deposit ("
Ivana
") at the Amarillo Grande Project in Río Negro
Province,
Argentina
.
The Gap Analysis was prepared by M3 Engineering & Technology Corporation, supported by a consortium of specialized consulting firms, at the request of Ivana
Minerales S.A, ("
IMSA
") the operating company for the joint-venture between Blue Sky and a subsidiary of Corporacion America Group, ("
COAM
") to advance
Ivana.
Using the existing Preliminary Economic Assessment ("
PEA
") as the baseline, the GAP Analysis provides a clear, actionable roadmap for advancing Ivana through
the Pre-Feasibility Study ("
PFS
") stage and potentially onward to the completion of a Feasibility Study ("
FS
") and submission of the final Environmental Impact
Assessment for Ivana. The timeline established by the roadmap is approximately 24 months to complete these steps, with an estimated overall budget of
US$13.5
million
, including contingencies.
Nikolaos Cacos
, Blue Sky President & CEO commented,
"Completing this Gap Analysis marks a significant strategic milestone for Blue Sky and IMSA.
Our
goal
has always been
to
rapidly
advance
our first discovery at
the
Amarillo Grande project
toward
potential uranium production. This analysis focuses the remaining
steps, providing an aggressive but systematic timeline and clear path forward
.
Our local partner is committed to this process with us
and together we are
moving Ivana forward rapidly and responsibly.
"
GAP Analysis
Summary
The objective of the Gap Analysis was to identify technical, environmental, social, and regulatory areas where additional data collection, studies, or design are
needed to support a PFS and FS. The baseline for all technical assessments was the PEA and updated Mineral Resource Estimate ("
MRE
") for the Ivana deposit
described in the NI 43-101 Technical Report dated
April 2, 2024
, filed on
SEDAR+
. The MRE includes 19.7 million tonnes at 0.039% U
O
and 0.019% V
O
in the
Indicated category, and 5.6 million tonnes at 0.031% U
O
and 0.019% V
O
in the Inferred category. The PEA describes an initial 11-year mine life for the
deposit, requiring a capital expenditure of
US$159.7 million
and an estimated average life-of-mine all-in sustaining cost of
US$24.95
per pound U
O
, net of
credits. The economic analysis includes an after-tax NPV
8%
of
US$227.7 million
, a payback period of 1.9 years, and an IRR of 38.9%.
Readers are cautioned
that the PEA is preliminary in nature and is intended to provide an initial assessment of the project's economic potential and development options. The PEA
mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred mineral resources. Inferred resources
are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves,
and there is no certainty that the PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Additional exploration will be required to potentially upgrade the classification of the inferred mineral resources to be considered in future advanced studies.
The Gap Analysis report confirms that Ivana benefits from strong baseline technical work, favorable metallurgy, clear permitting pathways, and a well-defined
execution plan. The report provides a structured timeline to advance key areas in order to support a PFS and FS for Ivana:
Mineral Resources:
IMSA completed a new infill drilling program this year, totaling 328 RC holes, to support potentially further upgrading the category of
some or all of the resource (currently ~80% of the MRE is in Indicated). Integrating this infill program with the previous block model will help define future
drilling requirements, if needed, to establish mineral reserves for the FS.
Mineral Processing:
Previous alkaline leach metallurgical tests have shown excellent uranium recoveries after low-cost scrubbing and screening
preconcentration. The GAP analysis recommended repetition of leach testwork, further optimization of beneficiation, solvent extraction and downstream
precipitation testing, additional process step testing and confirmation that the brine/brackish water available on site can be used in the processing flowsheet.
The additional proposed mineral processing testwork is expected to take about 15 to 16 months and represents the most significant critical-path item to
support the project's advancement.
Hydrogeological,
Radiological, and Geotechnical Baseline:
Hydrogeological studies began in 2017, with baseline studies completed between 2021 and
2023 and updated in 2024 through 2025. The GAP Analysis recommends supplementary programs to strengthen these baseline datasets and ensure they
are fully aligned with upcoming permitting milestones.
Surface Water, Groundwater, Geochemistry, Tailings, Closure/Rehab
:
The Gap Analysis identifies work related to surface and groundwater studies,
along with the need for additional geochemical characterization of ore and waste materials, further definition for tailings design, and the related inputs that will
support closure and rehabilitation planning at the PFS/FS stages.
Infrastructure:
No significant infrastructure constraints were identified, allowing engineering activities to proceed in parallel with technical studies related to
access roads, site buildings, power supply, and more.
Biodiversity,
Archaeology,
and Paleontology:
Baseline surveys began in 2021 and have provided proper characterization. The report recommends
maintaining and reinforcing these surveys for a more detailed understanding.
Communities:
Social studies conducted in recent years are considered sufficient at this stage. The report suggests further work to consolidate the
socioeconomic baseline and implement specific programs.
In addition to identifying technical requirements, the study provides a high-confidence development framework that reduces execution risk and establishes a clear
path to Feasibility Study level, culminating in the submission of an Environmental Impact Assessment report to the regulatory authorities. Key milestones in the
path include:
Q4 2025: Metallurgical lab selection and sample shipment; initiation of mineral resources update
Q2 2026: Preliminary metallurgical results and commencement of extended metallurgical tests
Q3 2026: PFS level of engineering
Q3 2026: Final mineral resource report and PFS completion
Q2 2027: Final Metallurgical test report and FS completion
Q3 2027: EIA submission
The total cost to complete the required technical, environmental, and permitting studies up to the Feasibility Study level is estimated at
US$11.4 million
, with an
additional
US$2.05 million
contingency, for a total of
US$13.45 million
.
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. to advance the Ivana Uranium-
Vanadium deposit in
Rio Negro Province
of
Argentina
. The activities of IMSA 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 IMSA 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. IMSA 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 potential to host an in-
situ recovery ("
ISR
") 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
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 GAP Analysis providing a clear, actionable roadmap for advancing Ivana through the PFS stage and
potentially onward to the completion of a Definitive Feasibility Study DFS and submission of the final Environmental Impact Assessment for Ivana, the timeline
established by the roadmap being approximately 24 months to complete these steps, with an estimated overall budget of
US$13.5 million
, including
contingencies, the timing of the completion of the milestones in the path, 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.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/blue-sky-uranium-completes-comprehensive-gap-analysis-for-ivana-deposit-and-identifies-clear-roadmap-to-feasibility-302626379.html
SOURCE
Blue Sky Uranium Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2025/26/c9669.html
%SEDAR: 00023601E
For further information:
For further information please contact: Corporate Communications, Tel: 1-604-687-1828, Toll-Free: 1-800-901-0058, Email:
CO: Blue Sky Uranium Corp.
CNW 07:00e 26-NOV-25