Blue Sky Uranium Corp. (C:BSK) is providing an update on the progress of the 3,000-metre reverse circulation (RC) drilling program at the Amarillo Grande uranium project, in Rio Negro province, Argentina. Drilling has finished at the Ivana target area, with 94 holes totalling 1,276 metres completed. The crew is now moving to the Anit area, approximately 50 kilometres to the northwest along the 140-kilometre-long uranium trend that comprises the Amarillo Grande project. Drill results for the completed drilling are pending and expecting to be announced soon.
This new uranium district was first identified and underwent preliminary exploration by the company from 2007 to 2012. The close proximity of several major targets and the near surface mineralization suggest that if resources are delineated, a central processing facility would be envisioned.
“We are excited to be active in the Province of Rio Negro where a thriving nuclear converter industry exists since the 1970s, but no uranium production,” stated Nikolaos Cacos, President and CEO. “Blue Sky’s 420,000 hectares of property situated in two distinct regions has the potential to become the first domestic source of uranium for Argentina. The current program at Amarillo Grande is testing the mineralization occurrence at surface, and, depending on results, would be expanded to test at depth.”
For additional details on the program please refer to the Company news release dated January 26, 2017.
About the Amarillo Grande Project
This new 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 its successful portfolio of metals exploration companies. The close proximity of several major targets suggest 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 represents a Surficial Uranium style of deposit, where carnotite mineralization coats loosely consolidated pebbles of sandstone and conglomerates. Carnotite is amenable to leaching, and early metallurgical work 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.
Rio Negro is host to several facilities related to the nuclear industry. Furthermore, the Provincial government is amenable to mining as a means of socio-economical development. In addition, the Federal government has expressed support for building domestic resources of uranium. In particular, the Argentina Atomic Energy National Commission (CNEA) published its Strategic Plan 2015-2025, which includes a strategic objective “To ensure the supply of domestic uranium for nuclear power plants in operation, under construction and planned.”
The contents of this news release have been reviewed and approved by 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.
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 428,000 hectares 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 among the first domestic suppliers of uranium to the growing Argentine market. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
In the interest of full disclosure, we call the reader’s attention to the fact that Equities.com, Inc. is compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way be considered as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker dealer, investment advisor, financial analyst, investment banker or other investment professional. We are a publisher of original and third party news and information. All profiles are based on information that is available to the public. The information contained herein should not be considered to be complete and is not guaranteed by Equities.com to be free from misstatement or errors. The views expressed are our own and not intended to be the basis for any investment decision. Readers are reminded to do their own due diligence when researching any companies mentioned on this website. Always bear in mind that investing in early-stage companies is risky and you are encouraged to only invest an amount that you can afford to lose completely without any change in your lifestyle. Equities has been compensated with cash, common shares and/or warrants for market awareness services provided.