Blue Sky Uranium (TSXV:BSK; OTC Grey:BKUCF) is pleased to provide 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 totaling 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 expect 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 that is 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.”
For additional details on the project and properties, please see the Company’s website: www.blueskyuranium.com