Nikolaos Cacos , President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA ") and confirm Corcovo as a promising new target area in our portfolio."
The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand ". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development.
Highlights of the Technical Review:
Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP ") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq ") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including:
- Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date
- Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon
- Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm.
- Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm.
*depths indicated are metres below drilling surface |
The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m ) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres.
A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1 , grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes.
Deposit Model
The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( www.cameco.com 06/02/2025).
Planned Activities and Data Acquisition
The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing.
Drill Hole Data Summary
Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq
(Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.)
Hole ID | Year | From (m) | To (m) | GR (API) | Ueq (ppm) | Thickness (m) | Horizon |
JCP-1001 | 2007 | 576 | 577 | 416 | 39 | 0.8 | Centenario Edge |
584 | 594 | 389 | 36 | 9.7 | Centenario Core |
598 | 605 | 366 | 32 | 7.8 | Centenario Core |
570 | 571 | 349 | 28 | 0.5 | Centenario Edge |
611 | 611 | 339 | 31 | 0.5 | Centenario Core |
JCP-1006 | 2008 | 569 | 579 | 743 | 65 | 10.1 | Centenario Core |
443 | 445 | 397 | 36 | 1.7 | Rayoso Channel |
542 | 543 | 384 | 35 | 1.1 | Centenario Core |
JCP-1004 | 2008 | 588 | 589 | 679 | 69 | 1.1 | Centenario Core |
JCP-1002 | 2007 | 559 | 564 | 823 | 66 | 5.0 | Centenario Core |
569 | 569 | 300 | 19 | 0.2 | Centenario Core |
CoHS.a-2066 | 2018 | 637 | 638 | 749 | 70 | 0.8 | Centenario Core |
657 | 657 | 403 | 36 | 0.8 | Centenario Core |
CoHS.a-2016 | 2013 | 569 | 570 | 954 | 78 | 1.4 | Centenario Core |
CoHS-2026 | 2009 | 328 | 330 | 787 | 76 | 1.7 | Neuquén |
576 | 577 | 417 | 31 | 0.8 | Centenario Core |
CoHS-2027 | 2015 | 572 | 573 | 625 | 60 | 1.5 | Centenario Core |
430 | 433 | 324 | 27 | 3.5 | Rayoso Channel |
314 | 318 | 305 | 24 | 3.5 | Neuquén |
CoH.a-4 | 2007 | 548 | 549 | 491 | 49 | 0.8 | Centenario Edge |
488 | 490 | 422 | 37 | 1.7 | Rayoso Channel |
603 | 604 | 343 | 25 | 0.6 | Centenario Core |
612 | 613 | 329 | 31 | 0.5 | Centenario Core |
749 | 750 | 327 | 25 | 0.6 |
|
CoHS.a-1021 | 2011 | 575 | 576 | 549 | 54 | 1.0 | Centenario Core |
CoHS.a-2034 | 2016 | 436 | 437 | 416 | 38 | 1.2 | Rayoso Channel |
567 | 567 | 357 | 20 | 0.3 | Centenario Core |
CoHS.a-2064 | 2018 | 563 | 568 | 367 | 32 | 4.7 | Centenario Core |
CoHS.ia-2009 | 2012 | 575 | 578 | 327 | 24 | 2.6 | Centenario Core |
CoHS.ia-2015 | 2013 | 568 | 568 | 304 | 24 | 0.2 | Centenario Core |
CoHS-2010 | 2012 | 577 | 578 | 439 | 41 | 0.6 | Centenario Core |
CoHS-2013 | 2012 | 573 | 574 | 354 | 31 | 0.5 | Centenario Core |
CoHS-2019 | 2013 | 578 | 579 | 721 | 60 | 1.2 | Centenario Core |
570 | 572 | 709 | 65 | 2.1 | Centenario Core |
CoHS-2022 | 2014 | 471 | 471 | 359 | 24 | 0.5 | Centenario Core |
CoHS-2028 | 2015 | 578 | 578 | 362 | 24 | 0.3 | Centenario Core |
CoHS-2029 | 2015 | 574 | 575 | 421 | 31 | 1.1 | Centenario Core |
ECo.a-3 | 2006 | 575 | 578 | 304 | 24 | 2.9 | Centenario Core |
ECo.a-5 | 2006 | 588 | 589 | 304 | 24 | 1.1 | Centenario Core |
CoHS.a-2001 | 2011 | 573 | 573 | 345 | 26 | 0.5 | Centenario Core |
CoHS.a-2068 | 2018 | 591 | 592 | 427 | 37 | 0.6 | Centenario Core |
CoHS.a-2014 | 2013 | 577 | 578 | 337 | 30 | 0.6 | Centenario Core |
CoHS.a-1009 | 2009 | 703 | 703 | 304 | 24 | 0.2 | Centenario Core |
CoHS.a-1018 | 2010 | 428 | 429 | 517 | 44 | 1.1 | Rayoso Channel |
571 | 571 | 349 | 32 | 0.5 | Centenario Core |
CoHS.a-2004 | 2011 | 570 | 571 | 446 | 45 | 1.3 | Centenario Core |
579 | 582 | 314 | 24 | 3.1 | Centenario Core |
CoHS.a-2007 | 2012 | 573 | 574 | 367 | 33 | 0.6 | Centenario Core |
CoHS.a-2012 | 2012 | 576 | 577 | 438 | 38 | 0.6 | Centenario Core |
441 | 442 | 375 | 34 | 0.8 | Rayoso Channel |
Note: Ueq is a length weighted average over the reported interval. |
Methodology and QA/QC
Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2 ). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person.
Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content.
Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB ") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs.
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi , CPG, who works for the Company and is 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 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 properties in two provinces in Argentina . The Company's 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. 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 and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, 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 planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and 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, including in respect of the Company's planned exploration program described in this news release. 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 forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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SOURCE Blue Sky Uranium Corp.
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