Argentina needs uranium, and lots of it. Argentina is a nuclearized country composed of several independent provinces, each with individual governments independent of the federal government. Many of these provinces have invested in nuclear power plants, with three plants spread throughout the country. Additionally, the country is leading the world in small modular reactors (SMRs), creating expanded access to nuclear power in regions inhospitable to traditional nuclear plants. However, nearly all of its uranium is imported.
The country’s investment in nuclear power and SMRs creates a strong local demand for uranium. The country presently produces only 11,000 metric tonnes of uranium (tU), but it’s estimated that an additional 55,000 tU remain as exploration targets. On top of its uranium interests, Argentina is advantageous for vanadium mining. Vanadium plays a critical role in steel production, which has a robust local market in Argentina. In addition, the country’s laws grant the government the right of refusal to mined products, provided they pay market rates, further sustaining the markets of both uranium and vanadium. This law creates a tremendous opportunity for domestic uranium production by providing consistent demand.Blue Sky Uranium (TSXV:NSL,OTC:BKUCF) is an advanced exploration and development mining company focused on the Rio Negro province of Argentina. The company has 100-percent-control of over 450,000 hectares of mining tenures, making it the country's newest uranium and vanadium district. The in-house uranium discovery allowed Blue Sky Uranium to create a district-scale opportunity for both vital resources. The company may become the largest domestic supplier of uranium for the entire country.
The company’s flagship project, the Amarillo Grande Project, has an NI 43-101 compliant resource estimate of 22.7 million pounds of uranium and 11.5 million pounds of vanadium. The discovery was made in conjunction with the company’s collaboration with the Grosso Group, an organization that has operated in the area for over 27 years. As a result, Blue Sky Uranium now has an excellent project that may become the first low-cost and near-term uranium producer in Argentina.
In a recent interview, Nikolaos Cacos, president and CEO, said, “The country doesn’t need to invent and implement new nuclear handling roles; they’re all already in place. Argentina is quite adept at that and quite used to uranium. The only thing that Argentina does not have is the production of uranium. Because they have a nuclear need, they import most of their uranium, paying a premium for it. This is what creates a unique opportunity for Blue Sky. Our project is the largest and most advanced in that country right now; we have an opportunity to be the first supplier of uranium for Argentina.”
Blue Sky Uranium has an experienced management team to help it capitalize on its unique opportunities. Nikolaos Cacos brings over 30 years of experience in executive management and advisory expertise in the mineral exploration industry and holds a Bachelor’s degree in Science and a Master’s of International Management. In addition, Darren Urquhart, chief financial officer, brings over 20 years of experience in managing finances for both public and private companies.
Additionally, Guillermo Pensado, vice president of exploration and development, is a geologist with 25 years of experience in the mineral exploration industry specializing in uranium. Connie Normal, corporate secretary, brings 18 years of experience providing corporate secretarial and regulatory compliance services.
- Blue Sky Uranium is an advanced exploration and development mining company with a district-scale opportunity to become Argentina’s largest supplier of uranium.
- Argentina is a nuclearized country with three existing nuclear power plants and is the leader in small modular reactor technology, creating a steady demand for uranium. However, the country is presently dependent on imported uranium.
- The company’s flagship project, Amarillo Grande, is a district-scale opportunity with an inferred resource estimate of 22.7 million pounds of uranium and 11.5 million pounds of vanadium.
- The discovery of uranium was made in-house in collaboration with the Grosso Group, an organization that has operated in the country for decades.
- A strong management team leads Blue Sky Uranium with direct experience in the mining industry, compliance, and corporate management.
Amarillo Grande Project
The Amarillo Grande Project contains multiple deposits spread out over 450,000 hectares, 100% owned by Blue Sky. The project area includes multiple promising deposits, with the Ivana Deposit containing an NI 43-1010 inferred resource estimate of 22.7 million pounds of uranium and 11.5 million pounds of vanadium. The company is moving into pre-feasibility studies, slated for completion in August 2022.
- Ivana Deposit Remains Open for Expansion: The Ivana Deposit hosts loosely consolidated sediments from surface to 25 meters depth and remains open for expansion with the potential for additional near-surface deposits. Pit sampling outside the resource area has already revealed strong uranium and vanadium grades.
- Close Proximity to Valcheta City: The Amarillo Grande Project is located roughly 25 kilometers north of the city, granting access to accommodations and a potential workforce.
- Existing Road, Rail, and Power Access: Valcheta City gives the project access to Provincial Road #4 and National Road #23, with the national road leading to the ocean port in San Antonio Oeste. A railway runs parallel to National Road #23 and two high-power lines.
- Low-Cost Production Potential of Uranium and Vanadium: Both resources give Blue Sky Uranium opportunities for future revenue, supplying the power market and steel market with the elements they need. Both resources are near-surface and hosted by loosely consolidated sand and gravel, allowing for low-cost production potential.
Nikolaos Cacos - President and CEO
Nikolaos Cacos brings over 30 years of executive-level management and advisory expertise in the mineral exploration industry. He has worked with Grosso Group since its inception, and serves as a senior-level executive for all the member companies. Cacos' career includes administration, structuring, and strategic planning for public companies. He currently serves as an officer and director of a number of TSXV-listed companies. He holds a master’s of international management degree from Heidelberg, Germany and a bachelor’s of science degree from the University of British Columbia.
Darren C Urquhart - Chief Financial Officer
Darren Urquhart is a chartered professional accountant with twenty years of experience working in public practice and industry. Urquhart operates his own public practice accounting firm, offering chief financial officer and accounting services to TSXV-listed companies in Vancouver. He has also served as director for some of his corporate clients. Urquhart began his career working as an audit accountant with Grant Thornton, then later worked as a senior tax accountant with Lohn Caulder Chartered Accountants. He obtained his chartered accountant designation in 2001 and is a member of the Chartered Professional Accountants of British Columbia. In 1995, Urquhart graduated from the University of British Columbia with a bachelor's degree in applied science in electrical engineering.
Guillermo Pensado - Vice President of Exploration and Development
Guillermo Pensado is a professional economic geologist with more than 25 years of expertise in the mineral exploration industry –- with particular emphasis on uranium. He holds extensive experience in exploration and economic project assessment in Argentina, Brazil, Chile, Peru, the US, and Canada, mainly focused on uranium, precious metals, and copper deposits. In the last decade, Pensado has worked in the start-up of new projects and companies and has held positions from advisor to vice president of exploration. Pensado is a Certified Professional Geologist in the USA, a Qualified Person for NI-43-101 in Canada, and a professional Geologist from the Argentine Professional Geological Council. Mr. Pensado holds a B.Sc. in Geology from the University of La Plata, Argentina, and a M.Sc. in Mineral Exploration from Queen's University, Canada. He has been a member of the Society of Economic Geologists since 2000. In 2001, he was recognized with the David Money Medal Award from Queen's University for the Top MinEx Student in the International Program. In 2016 and 2018, Pensado was recognized by the Argentina Mining International Conference for his professional career in the exploration industry.
Connie Norman - Corporate Secretary
Connie Norman is a senior corporate officer with over 18 years of experience within the public company sector, providing corporate secretarial and regulatory compliance services. While her main focus has been on TSXV-listed issuers, Norman has also worked with companies listed on the TSX and HKEx.
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