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Blue Sky Uranium Expands Exploration Program at the Amarillo Grande Uranium-Vanadium Project |
May 16, 2019
Vancouver, BC / CNW / May 16, 2019 / Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), "Blue Sky" or the "Company") is pleased to provide an update on current exploration and planned follow-up programs for the Company's wholly-owned Amarillo Grande Uranium-Vanadium Project in Rio Negro, Argentina ("AGP"). The AGP covers a 145 km prospective trend, including the Ivana deposit which demonstrated strong economic potential in a recent NI 43-101 Preliminary Economic Assessment ("PEA"; see News Release dated February 27, 2019). Work to date has identified three high-priority target areas with significant anomalies of uranium and vanadium. The exploration program for the next six months, including RC drilling, is designed to systematically identify and delineate mineralization potentially extending the Ivana deposit to the west (Ivana West target). The program will also test targets in two other key areas, Ivana Central and Ivana North, within 25 kilometres of the deposit (see Figure 1). The program includes:
"Following on the heels of our successful PEA for the Ivana deposit, we are continuing exploration with confidence in the potential for discovery of additional deposits that will build value," stated Nikolaos Cacos, Blue Sky President & CEO. "Our teamhas made considerable advancements in exploration targeting and all of our results to date confirm significant uranium and vanadium anomalies to the west and north of the Ivana deposit, with additional prospects along the 145km-long exploration trend covered by the Amarillo Grande Project." Program Details Target Development In 2013, Blue Sky's joint venture partner at the time, Areva S.A., drilled 11 core holes in the Ivana Central and North target areas totaling 2023.5 metres with depths ranging from 110 to 280 metres. Since the middle of 2018, Blue Sky's exploration team has been relogging, resampling and re-interpreting those holes and applying the in-house geological and exploration models that have been developed and refined as the Ivana deposit has been advanced. This work has identified two suites of pathfinder elements that the Company plans to employ as geochemical indicators to vector towards blind uranium deposits during the upcoming exploration program. Auger Program Planned Geophysics Program Planned RC Program The entire geophysics and RC drilling programs are expected to take approximately six months; both are contingent on the Company raising additional funds. Qualified Persons About the Amarillo Grande Project 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 for which a central processing facility could consolidate production. 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. Blue Sky has the exclusive right to 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 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 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 discussion 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. View in PDF Format |
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