Blue Sky Uranium Launches Drill Program to Expand and Upgrade the Ivana Deposit at the Amarillo Grande Uranium - Vanadium Project, Argentina
Blue Sky Uranium Launches Drill Program to Expand and Upgrade the
Ivana Deposit at the Amarillo Grande Uranium - Vanadium Project,
Argentina
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market: BKUCF
VANCOUVER, BC
,
Sept. 28, 2021
/CNW/ -
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 (see
February 1, 2021
News Release). 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 (see
Figure 1
). 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 U
3
O
8
& 323 ppm V
2
O
5
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.
Qualified Persons
The design of the Company's exploration program was undertaken 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
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.
For additional details on the project and properties, please see the Company's website.
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.
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. Forward-looking statements address future events and conditions and therefore involve inherent
risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects
or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's
business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-
looking statements.
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: the impact of COVID-19; risks and uncertainties related to 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.
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
Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. 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.
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Corporate Communications: Tel: 1-604-687-1828 , Toll-Free: 1-800-901-0058, Email: [email protected]
CO: Blue Sky Uranium Corp.
CNW 07:00e 28-SEP-21