Blue Sky Uranium Files Technical Report for Updated Preliminary Economic Assessment at Amarillo Grande Uranium-Vanadium Project, Argentina

Blue Sky Uranium Files Technical Report for Updated Preliminary Economic Assessment at Amarillo Grande Uranium-Vanadium Project, Argentina

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) "Blue Sky" or the "Company") is pleased to announce that the Company has filed the NI 43-101 Technical Report (the "Report") supporting disclosure of the independent Preliminary Economic Assessment(" PEA") for the Ivana Deposit at the Company's 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province Argentina as reported on February 22 nd 2024 .

The updated PEA incorporates a new mineral resource estimate, in which approximately 80% of the resources are now in the Indicated category. The PEA demonstrates robust economics from a surficial mining operation, entailing 11 years of uranium and vanadium production.

The Report, titled "Preliminary Economic Assessment Update for the Ivana Uranium-Vanadium Deposit, Amarillo Grande Project" with an effective date of December 31, 2023 , is available under the Company's profile on SEDAR+ at www.sedarplus.ca and will be posted to the Company's website www.blueskyuranium.com .

Qualified Persons

Dr. David Terry , Ph.D., P.Geo. 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.

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 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.

For additional details on the project and properties, please see the Company's website: www.blueskyuranium.com

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 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.

Cision View original content: https://www.prnewswire.com/news-releases/blue-sky-uranium-files-technical-report-for-updated-preliminary-economic-assessment-at-amarillo-grande-uranium-vanadium-project-argentina-302106643.html

SOURCE Blue Sky Uranium Corp.

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Blue Sky Uranium Files Technical Report for Updated Preliminary Economic Assessment at Amarillo Grande Uranium-Vanadium Project, Argentina

Blue Sky Uranium Files Technical Report for Updated Preliminary Economic Assessment at Amarillo Grande Uranium-Vanadium Project, Argentina

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) "Blue Sky" or the "Company") is pleased to announce that the Company has filed the NI 43-101 Technical Report (the "Report") supporting disclosure of the independent Preliminary Economic Assessment(" PEA") for the Ivana Deposit at the Company's 100% owned Amarillo Grande Uranium-Vanadium Project in Rio Negro Province Argentina as reported on February 22 nd 2024 .

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Blue Sky Uranium: Invitation to Red Cloud's Pre-PDAC 2024 Mining Showcase

Blue Sky Uranium: Invitation to Red Cloud's Pre-PDAC 2024 Mining Showcase

Blue Sky Uranium (TSXV: BSK) (OTCQB: BKUCF) is pleased to announce that the company will be presenting at Red Cloud's Pre-PDAC 2024 Mining Showcase. We invite our shareholders and all interested parties to join us.

The annual conference will take place in-person at the Sheraton Centre Toronto Hotel February 29-March 1, 2024.

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Blue Sky Uranium Announces a Positive New Preliminary Economic Assessment for the Ivana Uranium-Vanadium Deposit, Amarillo Grande Project, Argentina

Blue Sky Uranium Announces a Positive New Preliminary Economic Assessment for the Ivana Uranium-Vanadium Deposit, Amarillo Grande Project, Argentina

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) "Blue Sky" or the "Company") is pleased to announce the results of a new Preliminary Economic Assessment(" PEA") for the Ivana Uranium-Vanadium deposit at the Company's 100% owned Amarillo Grande Project in Rio Negro Province Argentina . The updated PEA incorporates a new mineral resource estimate, in which approximately 80% of the resources are now in the Indicated category. The PEA demonstrates robust economics from a surficial mining operation, entailing 11 years of uranium and vanadium production:

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Blue Sky Uranium Closes 2nd and Final Tranche of the Non-Brokered Private Placement

Blue Sky Uranium Closes 2nd and Final Tranche of the Non-Brokered Private Placement

TSX Venture Exchange:   BSK
Frankfurt Stock Exchange:   MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)

/NOT FOR DISTRIBUTION TO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES./

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to announce it has closed the 2 nd and final tranche of the non-brokered private placement financing announced on September 26, 2023 and increased on October 4, 2023 consisting of 7,133,333 units (each, a " Unit ") in this tranche at a price of $0.075 per Unit for gross proceeds of $535,000 . In total, the Company issued 20,466,666 Units for total gross proceeds of $1,535,000 (the " Offering ").

Each Unit consists of one common share and one transferrable common share purchase warrant (a " Warrant "). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.12 per share for three (3) years from the date of issue.

In this tranche, finders' fees of $32,371.50 were paid in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 431,620 non-transferable finder's warrants were issued (the " Finder's Warrant "). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.075 per share for three years from the date of issue, expiring on October 13, 2026 . In total, cash finders' fees of $97,293 were paid and 1,297,240 Finders' Warrants were issued for the Offering.

There is an offering document relating to the Offering that has been amended to reflect the increase in size of the Offering, which can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.blueskyuranium.com .

The Company intends to use the proceeds of the Offering for exploration programs on the Company's projects in Argentina and for general working capital.

The Offering is subject to regulatory approval, including the approval of the TSX Venture Exchange.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

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 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 receipt of regulatory approval for the Offering, the Company's plans for the closing of the Offering, finder's fees on the Offering, the use of the proceeds from the Offering, 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 necessary approvals, including Exchange approval for the closing of the Offering, 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.

SOURCE Blue Sky Uranium Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2023/13/c1801.html

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CORRECTION: Blue Sky Uranium Increases and Closes 1st Tranche of the Non-Brokered Private Placement

CORRECTION: Blue Sky Uranium Increases and Closes 1st Tranche of the Non-Brokered Private Placement

/NOT FOR DISTRIBUTION TO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

TSX Venture Exchange:   BSK
Frankfurt Stock Exchange:   MAL2
OTCQB Venture Market (OTC): BKUCF

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Skyharbour's Partner Company North Shore Uranium Reports Drill Results at the Falcon Project with Uranium Mineralization Confirmed at Two Targets

Skyharbour's Partner Company North Shore Uranium Reports Drill Results at the Falcon Project with Uranium Mineralization Confirmed at Two Targets

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has collected multiple samples from two of the first three uranium prospects drilled at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan, returning anomalous uranium values of greater than 300 ppm U 3 O 8 and up to a maximum of 572 ppm U 3 O 8 (Table 1). North Shore is now planning future exploration programs on the Property.

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Nuclear Fuels Announces Change of Auditor

Nuclear Fuels Announces Change of Auditor

CSE:NF

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announces that it has changed its auditor from MNP LLP, Chartered Professional Accountants, to Davidson & Company LLP, Chartered Professional Accountants, effective May 10, 2024 .

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Forsys Reports Updated Mineral Resource Estimate for its Norasa Project in Namibia

Forsys Reports Updated Mineral Resource Estimate for its Norasa Project in Namibia

Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) ("Forsys" or the "Company")

Forsys is pleased to provide an update for the Company's Norasa Uranium project ("Norasa 1 ") which comprises the deposits of Valencia Main and East, ("Valencia"), under Mining Licence (ML-149) and Namibplaas ("Namibplaas") under EPL-3638, (ML-251 pending).

Highlights

Forsys has undertaken a comprehensive review and update of all of the parameters for a Mineral Resource Estimate ("MRE") for the Norasa project using recent drill results together with the 2005-2011 previous MRE data. Confirmatory and geotechnical drilling, in conjunction with new survey information, including topographic surveys, down-the-hole optical televiewer surveys, trajectory surveys, and downhole gamma probe surveys, were used as inputs for mineral resource modelling. Re-interpretation of the previous database utilising all available data and modern estimation approaches has improved the definition of the MRE to more confidently support mine planning. This study, enhanced by an integrated and expanded drill program targeting existing and new areas together with a robust work plan of optimisation process testing and modelling, will help reinforce the upside potential of the Norasa project.

  • For the overall Norasa project, a conceptual pit constrained MRE for total deposits assessed from previous (2005-2011) and 2023 drilling results is estimated to be:
    • Valencia Main Measured and Indicated Resource at 40 ppm U 3 O 8 cutoff is estimated to be 152 Mt at 136 ppm eU 3 O 8 (equivalent U 3 O 8 ). Measured and Indicated contained metal is estimated at 45 Mlbs U 3 O 8 , at 40 ppm U 3 O 8 cutoff.
    • Valencia Main and East Inferred Resources are estimated at 5.7 Mt at 120 ppm eU 3 O 8 with 1.3 Mlbs U 3 O 8 contained metal oxide, at 40 ppm U 3 O 8 cutoff.
    • Namibplaas Inferred Resources are estimated to be 218.7 Mt at 85 ppm eU 3 O 8 with 41.1 Mlbs U 3 O 8 contained metal oxide, at 40 ppm U 3 O 8 cutoff.

Pine van Wyk, Country Director for Forsys commented: "The comprehensive work done over the last twelve months on the Norasa Uranium Project has created a solid foundation to advance project development.  The revised mineral resource model will help optimise the mine economics and process parameters. Results are expected soon from a column leaching test program currently being undertaken at SGS Laboratories in South Africa, which would establish the design basis of the planned heap leaching pads.  With the existing ML149 permitted to commence mining, the large scale Norasa project is well advanced to take advantage of the strong uranium sector fundamentals."

Mineral Resources
Results are reported from recent remodelling of historical (2005-2011) drilling and recent 2023 drilling results. The Mineral Resources are reported within US$120/lb U 3 O 8 pit shells, with a cut-off grade of 40 ppm U 3 O 8 for each of the deposits at Valencia Main and East, ("Valencia"), under Mining Licence (ML-149) and US$120/lb U 3 O 8 at 40 ppm U 3 O 8 cutoff at Namibplaas ("Namibplaas") under EPL-3638. The MRE are summarised as follows:

For the overall Norasa project, a conceptual open-pit shell constrained MRE for total deposits assessed from previous (2005-2011) and recent (2023) drilling results is estimated to be Measured and Indicated of 151.9 Mt at 136 ppm eU 3 O 8 , with contained metal oxide of 45.4 Mlbs U 3 O 8 at Valencia Main. Inferred Resources for the Norasa project are estimated to be 224.5 Mt at 86 ppm eU 3 O 8 , with contained metal oxide of 42.6 Mlbs U 3 O 8 (refer to Table 1):

  • Measured and Indicated: 151.9 Mt at 136ppm eU 3 O 8 , with contained metal oxide of 45.4 Mlbs for Valencia Main.
  • Inferred Resource for Valencia Main is estimated to be 4.7 Mt at 121 ppm eU 3 O 8 and 1.3 Mlbs eU 3 O 8 contained metal oxide.
  • Inferred Resource for Valencia East is estimated to be 1.0 Mt at 114 ppm eU 3 O 8 and 0.3 Mlbs U 3 O 8 contained metal oxide; and
  • Inferred Resource for Namibplaas is estimated to be 218.7 Mt at 85 ppm eU 3 O 8 and 41.1 Mlbs U 3 O 8 contained metal oxide.

Table 1: Mineral Resource Estimate for Norasa project as at 30 April 2024 at a 40 ppm U 3 O 8 cut-off grade.

Class Deposit Mass
Mt
(metric)
Average Grade
eU 3 O 8
(ppm)
Material Content
U 3 O 8
Mlbs
Contained Metal
U
tonnes
Measured Valencia East
Valencia Main 7.6 171 2.9 1,099
Namibplaas
Norasa 7.6 171 2.9 1,099
Indicated Valencia East
Valencia Main 144.3 134 42.6 16,368
Namibplaas
Norasa 144.3 134 42.6 16,368
Measured
&
Indicated
Valencia East
Valencia Main 151.9 136 45.4 17,467
Namibplaas
Norasa 151.9 136 45.4 17,467
Inferred Valencia East 1.0 114 0.3 97
Valencia Main 4.7 121 1.3 487
Namibplaas 218.7 85 41.1 15,817
Norasa 224.5 86 42.6 16,401


Notes:
1. All tabulated data have been rounded and as a result minor computational errors may occur.
2. Mineral Resources, which are not Mineral Reserves, have no demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will be converted into a mineral reserve. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
3. The Mineral Resource Statement for Norasa as at 30th April 2024 is reported at a cut-off grade of 40ppm U 3 O 8 from within a conceptual pit-shell using the following assumed parameters:
  • Base Uranium Price –USD/lb U 3 O 8 : $120
  • Average Mining Cost at reference elevation (AISC) USD/tonne: Valencia Main $2.38; Valencia East $2.13; Namibplaas $2.29"
  • Average Processing Cost USD/tonne processed: $7.55
  • Average G&A Overheads USD/tonne processed: $1.04
  • Process Overall Recovery % U 3 O 8 Recovery: 85.0 %
  • Selling Cost Transport USD/lb U 3 O 8 : $1.29
4. From the assumed parameters, a 40 ppm U 3 O 8 cut-off grade was calculated, which together with the conceptual pit shell demonstrates reasonable prospects for eventual economic extraction (RPEEE) for the Mineral Resource. The assessment to satisfy the criteria of RPEEE is a high-level estimate and is not an attempt to estimate Mineral Reserves.

Mineral Resource Estimation Methodology

A summary of the Mineral Resource modelling methodology is as follows:

  • The Mineral Resource was modelled using a combination of Leapfrog Geo ® and Datamine Studio RM ® software.
  • Valencia Main and East data:
    • Comprise a combined dataset of 141 diamond (DD), 148 reverse circulation (RC) and 446 percussion (PC) type drill holes (Figure 1).
    • Borehole data from Valencia Main and East with XRF assay and calculated equivalent grades (eU 3 O 8 ) from gamma-probing for each of the deposits have been used to estimate the Mineral Resource.
    • Equivalent uranium grades have been factored to correlate practically well with the XRF data, which constitutes 25 % of the grade data.
    • Where XRF data are available these supercede the corresponding probe equivalent grade in the estimation data.
  • Namibplaas data:
    • Comprise a dataset of 530 percussion holes and 40 diamond drill holes (Figure 2).
    • Borehole data from Namibplaas XRF assay and calculated equivalent grades (eU 3 O 8 ) have been used to estimate the Inferred Mineral Resource.
    • Equivalent uranium grades constitute the majority of the grade data and where XRF data are available, ~3.5 % of all grade data, these supercede the probe derived values.
  • Wireframe interpretations of the logged lithologies were used to define the various geological units.
  • Mineralisation is strongly associated with alaskite intrusions, that are in turn controlled by a structural architecture that comprises folded and planar strata surfaces, and fold-associated shears and cleavages. Importantly, the orientation of marble strata is a major control on the distribution of uranium mineralisation for REDOX chemistry reasons, at Valencia and the Erongo region alaskite deposits as whole. The alaskite orientations are therefore strataform, except where they have invaded sheared and strongly cleaved antiformal hinge zones, as at Valencia Main. In order to honour the geological controls in the estimates various surfaces were modelled:
    • String interpretations of the "stratiform" intrusions were digitised in cross-section and were used to create median surfaces for each of the intrusions.
    • The resulting mineralised zone wireframes align with the lithological strata while also cross-cutting the strata in places to accommodate axial-planar mineralisation orientations (see Figure 3).
    • The surfaces were then used to guide the orientation of the grade estimate through interpolation of individual dip and dip directions for each model block.
  • The geometry of the Namibplaas deposit comprises stratiform lithologies that dip toward the southwest. The alaskite intrusives have intruded in a strataform manner and have exploited disruptions in the overall fabric, such as local fold flexures and dilation zones associated with the NE-SW regional extensional setting. In order to honour the geological controls at Namibplaas in the estimates various surfaces were modelled with guidance from the directions of greatest structural continuity to guide implicit modelling:
    • Along the strike and dip direction of the host metasediments, and
    • Along a shallow-plunging hinge structure that is oriented to the NE, parallel to the regional extension regime.
    • Considering that mineralization at Namibplaas is strongly associated with the granitic intrusions, string interpretations of the mid-points of these "stratiform" intrusions were digitized in cross-section, thereafter linked to create median surfaces of each of the alaskite intrusions (see Figure 4).
    • The surfaces of the intrusions were then used to guide the orientation of the grade estimate through interpolation of individual dip and dip directions for each model block.
  • Grade shells using a 40 ppm U 3 O 8 threshold were constructed using Leapfrog ® implicit modelling with directional control surfaces from the geological model.
  • The model volumes were divided into four domains at Valencia Main and two domains at Namibplaas. Each domain is distinct in terms of its geographic/geometric position as well as statistical / geostatistical parameters.
  • Ordinary kriging estimation used three-dimensional directional variograms to estimate U 3 O 8 grades within the mineralised zones for Valencia Main and Namibplaas. Inverse distance squared interpolation was used for Valancia East. The models underwent validation by comparison of estimated grade values against input sample grades, both visually and statistically.
  • Volumes covered by 30 m drill-spacing were classified as Indicated Mineral Resources at Valencia. All blocks outside of these volumes within the grade shells that received a grade estimate during the interpolation runs were considered Inferred.
  • At Namibplaas, although the tight drill spacing of approximately 30 m provides dense coverage of the deposit, the predominance of probe-derived eU 3 O 8 assays warrants a confidence level for an Inferred Resource.

30 April 2024 MRE block model and US$120/lb U3O8 pit shells at Valencia Main and Valencia East, ML 149.

Figure 1: 30 April 2024 MRE block model and US$120/lb U 3 O 8 pit shells at Valencia Main and Valencia East, ML 149.

30 April 2024 MRE block model and US$120/lb U3O8 pit shells at Namibplaas, EPL 3638.

Figure 2: 30 April 2024 MRE block model and US$120/lb U 3 O 8 pit shells at Namibplaas, EPL 3638.

Figure 3 part 1.Figure 3 part 2

Figure 3:  Shows the stacked concordant surfaces generated parallel to the 3 marble bands and orientation of mineralisation aligned with the strata and axial planar cleavages in the fold hinge (guiding surfaces hidden) at Valencia.

Shows alaskite midpoint strings (yellow) linked in parallel to the the NE-SW oriented strike of the deposit.

Figure 4:  Shows alaskite midpoint strings (yellow) linked in parallel to the the NE-SW oriented strike of the deposit.

In accordance with National Instrument 43-101 ("NI 43-101") a Technical Report outlining the mineral resource estimation will be filed under Forsys' profile on SEDAR+ ( www.sedarplus.ca ) within 45 days of the date of this release.

Assaying and QAQC

  • Recent (2023) Sampling and Assays
    • Samples were taken from the diamond drill cores and RC chips for geochemical assay guided by the routine downhole radiometric probe results, and sent to Trace Elements Analysis Laboratories (Pty) Ltd ("TEA Labs") at Swakopmund for sample preparation and analyses by XRF. For internal quality control purposes TEA Labs has weekly round robins with independent laboratories at Rosh Pinah, Swakop Uranium and Langer Heinrich mines.
    • Forsys employs a QAQC programme with Certified Reference Materials (CRMs), blanks, coarse duplicates and pulp duplicates inserted into each batch of samples. The QAQC insert rate comprises 4 % CRMs using three CRM types with different grades of U 3 O 8 ; 4 % blanks and 8 % to 10 % duplicates. RC sample batches have three types of duplicates; a field duplicate split at the drill rig; a coarse duplicate split at prescribed intervals at the laboratory; and pulp duplicates, also split at the laboratory. Core samples only have coarse and pulp duplicates split at the laboratory.
    • Four-percent of the samples sent to TEA Labs are sent for check analyses at SGS Laboratories (SGS) in South Africa, which serves as the independent accredited laboratory. The sample results are further validated by comparison with the radiometric scans.
  • Previous Sampling and Assays (2005-2011 Valencia Uranium Limited (VUL)):
    • All diamond drill half core and RC samples collected by VUL were assayed at the Setpoint Technology ("Setpoint") laboratory in Johannesburg, South Africa. Setpoint was accredited with the South African Accreditation System (SANAS), accreditation number T0223, and was also an ISO17025 accredited laboratory. Setpoint crushed and pulverised the samples for analysis of U 3 O 8 using the XRF pressed pellet method.
    • The VUL protocols for the QAQC were as follows:
      • CRMs inserted at a frequency of at least one per 20 samples.
      • Blanks inserted at a frequency of at least one per 50 samples.
      • Duplicates taken at a frequency of at least one per 20 samples.
    • The Setpoint laboratory included appropriate quality assurance and quality control (QAQC) procedures during the analysis of the VUL samples by including its own certified reference standards (CRM), blanks and duplicates.
    • VUL percussion holes were not physically sampled. Datasets were derived from two downhole probes that were calibrated against the XRF sample assays.
    • Snowden reviewed the assay results from Setpoint for the Valencia deposits in 2009 2 for the purposes of resource estimation and considered the QAQC results to be of a high standard of precision, unbiased and accurate.
    • Optiro reviewed the assay results from Setpoint for the Namibplaas deposit in 2011 and considered that the results of the QAQC indicate a high level of precision with no bias, no significant contamination and a high degree of accuracy (from Snowden 2009 2 and Optiro 2011 3 )
  • Trekkopje Exploration (Goldfields 1974-1984):
    • Exploration data derived from Trekkopje Exploration era, up to and including 1984, have not been verified by the QP and therefore were not utilised in this Mineral Resource Estimate.

Workplan

Forsys is undertaking an infill and extension drilling program and optimisation work with the aim of expanding and upgrading the Mineral Resource:

  1. Resource Infill Drilling and Resource Extension Drilling
    Total of 85 percussion drill holes for 7,520 metres have been laid out on a 25 x 25 metre grid. The objective is to more than double the quantity of the Measured Mineral Resource. The holes target the 660 m elevation with drill depths up to 100 m from surface and is comparable to the previous Measured Resource grid.

    A subsequent program for potential resource extension is planned for the areas adjacent to the Valencia Main deposit; along strike to the west, on the hinge zone to the south, and north of the Main deposit at the Jolie Zone.
  2. Pit Design Modeling
    The updated resource block model is used to assess open pit economic models. Pit slope design parameters are being reviewed to include lithological logging and geomechanical test work from additional drilling.
  3. Column Leaching Process Optimization Work
    Column Leach tests are presently underway at SGS in South Africa where the columns have been emptied and final analyses and data is pending. The next phase of testing will assess systematic processes to enhance the efficiency and effectiveness of extracting the uranium mineralisation from the ore using sulphuric acid solutions.
  4. Process Design
    DRA Global were appointed as the study contractor to deliver engineering to support preliminary cost estimates for a heap leach process. Ongoing engineering and optimisation continues.
  5. Bulk Sampling
    After site assessment and selection, a detailed plan is being drawn up to develop a box cut with the objective of retrieving approximately 20,000 tonnes of typical run-of-mine, fresh and representative sample material from the deposit.

Qualified Persons Statement for Metallurgy
Mr Aveshan Naidoo is a Specialist Engineer: Hydromet and Economics, for DRA South Africa Projects (Pty) Ltd of Building 33, Woodlands Office Park, 20 Woodlands Drive, Woodlands, Sandton, 2080. He holds a Bachelor of Science in Chemical Engineering and a Master of Business Administration at the University of Witwatersrand. He is a registered Professional Engineer with the Engineering Council of South Africa (Registration No. 20130523). Mr Naidoo has been practising his profession continuously since 2008 and has 16 years of experience across a range of African projects. He is familiar with NI 43-101 and, by reason of his education, experience, and professional registrations, he fulfils the requirements of an independent Qualified Person as defined in NI 43-101.

Qualified Persons Statement for Mineral Resource
The information in this release that relates to the updated Mineral Resource Estimate for the Norasa Project is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa Project, Namibia.  Dr Freemantle holds a Bachelor of Science in Geology and a PhD in Geology, both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905); a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practiced his profession continuously for 14 years and has sufficient experience and knowledge that is relevant to the style of mineralisation and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears.

About Forsys Metals Corp.

Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly-owned Norasa Uranium Project, located in the politically friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website www.forsysmetals.com

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations.  For additional information please contact:

Pine van Wyk, Country Director, Forsys
email: pine@forsysmetals.com

Richard Parkhouse, Director, Investor Relations
email: rparkhouse@forsysmetals.com email: info@forsysmetals.com
phone : +44 7730493432

Nikolas Matysek,  Communications Manager (Canada)
email: nmatysek@forsysmetals.com

Forward Looking Statement

Certain information contained in this press release constitutes "forward-looking information" , within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar+.com. The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce its summer exploration plans for its portfolio of Athabasca Basin uranium projects.

Highlights

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We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.

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Canadian Natural Resources Limited Reports Voting Results at Annual and Special Meeting

Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) held its Annual and Special Meeting of Shareholders on May 2, 2024. The result of the vote by shareholders for each resolution is reported below.

  1. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed.

Votes ForVotes Withheld
              Catherine M. Best739,666,794
97.19%
21,395,027
2.81%
              M. Elizabeth Cannon755,414,889
99.26%
5,646,932
0.74%
              N. Murray Edwards734,115,206
96.46%
26,946,615
3.54%
              Christopher L. Fong730,264,360
95.95%
30,797,461
4.05%
              Ambassador Gordon D. Giffin681,630,086
89.56%
79,431,703
10.44%
              Wilfred A. Gobert749,993,920
98.55%
11,067,902
1.45%
              Christine M. Healy759,396,832
99.78%
1,664,989
0.22%
              Steve W. Laut752,522,642
98.88%
8,539,180
1.12%
              Honourable Frank J. McKenna713,843,507
93.80%
47,218,314
6.20%
              Scott G. Stauth755,136,229
99.22%
5,925,592
0.78%
              David A. Tuer721,224,440
94.77%
39,837,382
5.23%
              Annette M. Verschuren757,804,674
99.57%
3,257,147
0.43%




Votes ForVotes Withheld
  1. The appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and to authorize the Audit Committee of the Board of Directors to fix their remuneration.
733,200,212
94.14%
45,678,373
5.86%

Votes ForVotes Against
  1. Vote on Share Split of Issued and Outstanding Common Shares of the Corporation be subdivided on a two for one basis.
774,321,586
99.41%
4,556,996
0.59%

Votes ForVotes Against
  1. On an advisory basis, approval of the Corporation's approach to executive compensation.
748,228,501
98.31%
12,833,315
1.69%

 

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