Blue Sky Uranium Drills 17 m of 1,713 ppm U3O8 including 1 m of 2.1% U3O8 near surface at the Amarillo Grande Uranium-Vanadium Project, Argentina
Terminal City Club Tower, Suite 312 - 837 West Hastings Street TSX Venture Exchange: BSK
Vancouver, BC CANADA V6C 3N6 Frankfurt Stock Exchange: MAL2
Tel: 604-687-1828 • Fax: 604-687-1858 • Toll Free: 1-800-901-0058 OTCQB Venture Market (OTC): BKUCF
www.blueskyuranium.com • [email protected]
NEWS RELEASE – February 1, 2018
Blue Sky Uranium Drills 17 m of 1,713 ppm U3O8 including 1 m of 2.1% U3O8
near surface at the Amarillo Grande Uranium-Vanadium Project, Argentina
Vancouver, BC / Globe Newswire / February 1, 2018 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF),
"Blue Sky" or the "Company") is pleased to report additional analytical results from the infill reverse circulation (RC)
drilling program, including multiple high-grade uranium-mineralized intercepts near surface at the Ivana target, on
its 100% owned Amarillo Grande uranium-vanadium project, in Rio Negro Province, Argentina.
Highlights of drill intercepts with significant uranium mineralization include:
1,713 ppm U3O8 over 17 m starting at 7 m depth in AGI-0286,
o Including 20,963 ppm U3O8 (equal to 2.1% or 46.1 lb U3O8 per tonne) over 1 m,
within 8,792 ppm U3O8 over 3 m
2,095 ppm U3O8 over 18 m starting at 4 m depth in AGI-0279,
o Including 12,804 ppm U3O8 (equal to 1.3% or 28.2 lb U3O8 per tonne) over 1 m,
within 3,352 ppm U3O8 over 11 m
948 ppm U3O8 over 18 m starting at 4 m depth in AGI-0293,
o Including 7,593 ppm U3O8 (equal to 0.8% or 16.7 lb U3O8 per tonne) over 1 m
within 1,792 ppm U3O8 over 9 m
990 ppm U3O8 over 15 m starting at 8 m depth in AGI-0257,
o Including 4,504 ppm U3O8 (equal to 0.5% or 9.9 lb U3O8 per tonne) over 1 m
within 2,045 ppm U3O8 over 7 m
1,107 ppm U3O8 over 14 m starting at 7 m depth in AGI-0264,
o Including 4,500 ppm U3O8 (equal to 0.4% or 9.9 lb U3O8 per tonne) over 1 m
within 1,888 ppm U3O8 over 8 m
All holes were vertical and the intervals are believed to represent true thickness.
“Our drilling continues to reveal h igh-grade uranium intercepts within poor ly consolidated sediments near surface,
building our understanding of the deposit and its potential,” stated Nikolaos Cacos, Blue Sky President & CEO. “The
Ivana target has the largest, highest-grade zone of uranium mineralization found at the Amarillo Grande uranium-
vanadium project to date, and understanding it fully is the key to uncovering the potential of the 140-kilometre-long
mineral belt controlled by Blue Sky.”
The Phase II RC program at Ivana was recently completed with a total of 4,327 metres drilled in 269 holes. This
program included a 100 by 100 metre drill pattern covering the higher-grade uranium mineralized corridor which
measures approximately 5,000 m in length and 200 to >500 m in width. The infill program was designed to provide
higher confidence data to complete a maiden mineral resource estimate and 43-101 Technical Report for the Ivana
target.
News Release February 1, 2018
Blue Sky Uranium Corp. Page 2
Program Details:
The Phase II RC drill results from holes 252 through 318, which total 902 metres , are reported in Table 1 here:
https://www.blueskyuranium.com/assets/news/2018-01-30-nrt-bsk-817eu9.pdf. The results from previous holes
from the Phase II program were reported on October 30th, 2017 and January 15 th, 2018. All hole locations are
shown on Map 1 here: https://www.blueskyuranium.com/assets/news/2018-01-30-nrm1-bsk-817eu9.pdf and
grade thickness contours of all results to dat e are shown on Map 2 here:
https://www.blueskyuranium.com/assets/news/2018-01-30-nrm2-bsk-817eu9.pdf . Grades reported range from the
lower cut-off of 30 ppm to 20,963 ppm U3O8 (AGI-0286) at depths ranging from surface to 24 metres.
The Phase I program defined a corridor of strong near-surface mineralization at the Ivana target that was later
expanded through the Phase II drilling program. The higher-grade mineralized corridor with “U” shape on the maps
is approximately 5,000 metres long, between 200 and >500 metres wide and up to 23 metres thick.
The remaining analytical results from the Phase II drill program are expected to be received in the next four weeks,
and those results will be incorporated into the mineral resource estimate that is in progress.
Methodology and QA/QC
The drilling program is being carried out using an FlexiROC D65 drill rig from Atlas Copco, an ore -control track-
mounted rig adapted to reverse circulation with triple cyclone to reduce the dust loss during sampling and automatic
sampling. The difficulties in casing every hole due to the presence of no or very poo r consolidated sediments has
resulted in limited natural gamma probe surveying to check holes. Those selected for survey will be surveyed at the
end of the program by a senior geophysicist using a natural gamma probe previously calibrated at the Comisión
Nacional de Energía Atómica facility (Atomic Energy National Commission, CNEA). Samples are being sent to
Bureau Veritas Minerals of Mendoza, Argentina for preparation by drying, crushing to 80% passing 10 mesh and
then pulverizing a 250g split to 95% pass ing 150 mesh. Pulps are being sent to Bureau Veritas Commodities
Canada Ltd. for analysis of 45 elements by means of Inductively Coupled Plasma Mass Spectrometry (ICP -MS)
following a four-acid digestion (MA -200). Samples over 4,000ppm uranium are re -assayed after phosphoric acid
leach by Inductively Coupled Plasma Electron Spectrometry (ICP -ES). Approximately every 10th sample a blank,
duplicate, or standard sample is inserted into the sample sequence for quality assurance/quality control (QA/QC)
purposes. No significant QA/QC issues were detected by the Company during review of the data.
Qualified Person
The results of the Company's drilling program have been reviewed, verified (including sampling, analytical and test
data) and compiled by the Company's geological staff under the supervision of David Terry, Ph.D., P.Geo. Dr. Terry
is a Director of the Company and a Qualified Person as defined in National Instrument 43-101. The contents of this
news release have been reviewed and approved by Dr. Terry.
About the Amarillo Grande Project
This new 140-kilometre-long uranium district was first identified, staked and underwent preliminary exploration by
Blue Sky from 2007 to 2012 as part of the Grosso Group’s strategy of adding alternative energy focus to it s
successful portfolio of metals exploration companies. The proximity of several major targets suggests that if
resources are delineated a central processing facility would be envisioned. The area is flat -lying, semi -arid and
accessible year-round, with nearby rail, power and port access.
Mineralization identified to date at Amarillo Grande has characteristics of sandstone-type and surficial-type uranium-
vanadium deposits. The sandstone -type deposit is related to a braided fluvial system comprising a po tentially
district-size “roll front” system. Uranium minerals are present in the porous of poorly -consolidated sandstones and
conglomerates. In surficial-type uranium deposits , carnotite mineralization coats loosely consolidated pebbles of
sandstone and conglomerates. Carnotite is amenable to leaching, and preliminary metallurgical work at the project
indicates that the mineralized material can be upgraded using a very simple wet screening method. The near -
surface mineralization, ability to locally upgrade, amenability to leaching and central processing possibility suggest
a potentially low-cost development scenario for a future deposit.
For additional details on the project and properties, please see the Company’s website: www.blueskyuranium.com
News Release February 1, 2018
Blue Sky Uranium Corp. Page 3
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. Blue Sky holds has the exclusive right to over 434,000 hectares (equiv. to 1,072,437 acres) of property
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.
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: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exc hange) accepts
responsibility for the adequacy or accuracy of this release.
This news release may contain forward -looking statements including but not limited to comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward -looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. 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 disc ussion of factors that may impact
expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits
on adjacent properties are not indicative of mineral deposits on our properties.