Blue Sky Uranium

New Uranium District for Argentina’s Clean Energy Future

This profile is part of a paid investor education campaign.*


Blue Sky Uranium (TSXV:BSK; OTC Grey:BKUCF) is focused on acquiring, exploring and advancing a portfolio of surficial uranium properties in Argentina. The company currently has more than a combined 5,000 square kilometers of uranium tenements in the provinces of Rio Negro and Chubut.

Blue Sky is on the verge of proclaiming a new global uranium district as it continues to make discoveries in Argentina— a country with the most advanced nuclear energy sector in South America and no domestic uranium supply.

Nuclear power currently accounts for 7 percent of the nation’s energy mix. In line with Argentine President Mauricio Macri’s mandated push toward clean energy announced in May 2016, the government is looking to increase that figure to 20 percent by 2025. As part of that initiative a fourth reactor is planned for construction in 2017 with a fifth to follow in 2019.

With no domestic supply of nuclear fuel Argentina pays approximately US$100 per pound in uranium imports, well above the current spot price. Hence, the government of Argentina is supportive of uranium exploration and exploitation projects as it looks to lower the costs of meeting its clean energy goals. “We believe we are very well-positioned to be the first supplier of domestic uranium in Argentina,” stated Nikolaos Cacos, Blue Sky President and CEO.

Blue Sky Uranium is a member of the Grosso Group, which has a long-established reputation for success and a well-developed network of contacts throughout Argentina. Joseph Grosso, President and Founder of the Grosso Group, is an advisor to the company.

In August 2016, the company announced a private placement financing of up to 6,500,000 units at a price of $0.38 cents per unit for gross proceeds of up to $2,470,000. The proceeds will be used to fund planned exploration at the company’s uranium properties.

Company Highlights

  • Wholly-owned 350,000 hectares of uranium properties in the provinces of Rio Negro and Chubut, Argentina.
  • Supportive government: Domestic uranium supplies needed for Argentina’s energy goals.
  • Advanced nuclear industry with no domestic uranium production; paying close to US$100 per pound U3O8 for imports.
  • Argentina plans to increase nuclear power’s position in the country’s energy mix from 7 percent to 20 percent by 2025.
  • Uranium surface production from identified discoveries has potential to support nuclear plants in Argentina within two years.
  • Access to Grosso Group’s long established contacts in various provinces and the internationally recognized, provincially owned INVAP—an Argentine company specializing in the design and construction of complex nuclear technological systems.

Key Project: Emerging Uranium District in Rio Negro, Argentina

 Blue Sky Uranium’s exploration work is beginning to uncover the district-scale potential for uranium mineralization in the San Jorge Basin of Rio Negro, Brazil.

The San Jorge Basin is a flat lying, semi-arid environment located at an elevation of approximately 200 meters with an annual rainfall of less than 300 millimeters and a very low population density. The expansive region has had little to no exploration to date.

A well-maintained gravel road allows for year-round access to the properties. Regional infrastructure includes shallow groundwater, power and rail access as well as a deep sea port within 200 kilometers of Blue Sky’s land package.

The company has already identified three uranium discoveries which are located in the same geologic environment along a 120 kilometer corridor: Anit, Santa Barbara and Ivana; and is now permitting several new targets within the region. These mineralized areas are not only near-surface and hosted in easy-to-recover sandstone, but also close enough together to serve as potential feeder zones for an integrated mine and centralized processing plant—representing the potential for a low cost in-situ mining operation.


In July 2016, Blue Sky announced the welcoming of well-respected geologist Guillermo Pensado as a technical consultant for the company’s new exploration campaign at its Rio Negro properties. The goal of the program will be to advance and integrate the Anit, Santa Barbara and Ivana discoveries into a combined exploration project and to delineate resources that could support a low-cost in-situ mining operation.

Anit Discovery

The Anit discovery is a 15-kilometer long and up to 1.5-kilometer wide new surficial uranium discovery first identified by an airborne radiometric survey in 2007. Following the survey, Blue Sky’s technical team located several rock samples with visible uranium mineralization.

Blue Sky Uranium - New Uranium District for Argentina’s Clean Energy Future

Blue Sky has completed a trenching program consisting of four excavator trenches totaling 1,403 meters at the Anit West and Central targets. Highlights from the results included:

  • Trench 1: 358 meters averaging 0.052 percent uranium (U3O8) and 0.159 percent vanadium (V2O5)
  • Trench 2: 114 meters averaging 0.019 percent U3O8 and 0.082 percent V2O5
  • Trench 3: 375 meters averaging 0.040 percent U3O8 and 0.057 percent V2O5
  • Trench 4: 91 meters averaging 0.066 percent U3O8 and 0.105 percent V2O5

Santa Barbara Discovery

The Santa Barbara discovery was made following hand-auger sampling in the area. The discovery includes a horizon of bright-yellow mineralization occurring in a flat-lying sheet with an average thickness of approximately 0.5 to 1 meter at a mere 0.5 to 1.5 meters below surface. Concentrations of uranium and vanadium from Santa Barbara range from 0.01 to 0.06 percent U3O8 and from 0.05 to 0.06 percent V2O5.

Ivana Discovery

 The Ivana discovery includes a 7 meter by 4 meter enclosed basin within a 40-kilometer by 10-kilometer basin located on exploration licenses covering 1,300 hectares in the north-central Rio Negro. Uranium mineralization on the property is hosted mainly in the Gran Bajo del Gualicho Formation, a favorable geological environment for large surficial-type uranium deposits similar to deposits in Western Australia and Namibia.

Blue Sky Uranium - New Uranium District for Argentina’s Clean Energy Future

During an airborne radiometric survey, significant subsurface radioactivity in three zones were identified covering a combined area of approximately 2.2 square kilometers. Pit sampling at Ivana has shown strong near surface mineralization including 0.75 meters at 1.8 percent U3O8.

Other Argentina Properties—Chubut Province

In addition to its Rio Negro properties, Blue Sky holds two uranium prospective projects in the province of Chubut, Sierra Colonia and Tierras Coloradas. Like the Rio Negro properties, mineralization at both Sierra Colonia and Tierras Coloradas is hosted in sandstone and near-surface.

Highlights from grab samples taken from outcrops and hand pits at Sierra Colonia include:

  • 6 samples were higher than 0.10 percent, including 0.65 percent U3O8 and 1.55 percent V2O5, 0.61 percent U3O8 and 0.80 percent V2O5, 0.53 percent U3O8 and 1.32 percent V2O5, 0.25 percent U3O8 and 0.65 percent V2O5, and 0.20 percent U3O8, 0.09 percent V2O5;
  • 90 samples were higher than 0.01 percent U3O8; and
  • 177 samples were lower than 0.01 percent U3O8.


 Nikolaos Cacos, M.I.M.—President, CEO and Director

Nikolaos Cacos is one of the founders of the company with over 23 years of management expertise in the mineral exploration industry. He has extensive experience in providing strategic planning to and administration of public companies. Cacos serves as director and officer of several publicly traded companies. He holds a Master of International Management degree from Heidelberg, Germany and a Bachelor of Science degree from the University of British Columbia.

Darren C. Urquhart, C.A. — Chief Financial Officer, Corporate Secretary and Director

Darren Urquhart is a Chartered Accountant with more than ten years of experience working in both public practice and industry. He is presently engaged in public practice accounting offering CFO and accounting services to TSX Venture Exchange listed exploration companies in the Vancouver area. Urquhart began his career working as an audit accountant with Grant Thornton LLP, then later worked as a senior tax accountant with Lohn Caulder Chartered Accountants and more recently served as a consultant to an international private equity company. He obtained his Chartered Accountant designation in 2001 and is a member of the Institute of Chartered Accountants of British Columbia. In 1995, Urquhart obtained his B.A.Sc. (Electrical Engineering) from the University of British Columbia.

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

Dr. David Terry has more than 20 years of experience focused on exploration for a wide spectrum of precious and base metal deposits throughout North and South America. He has held numerous senior positions with both major and junior mining companies, including Boliden Limited, Westmin Resources Limited, Hemlo Gold Mines, Cominco Limited and Gold Fields Mining Corporation. He holds a BSc and PhD from the University of Western Ontario.

Guillermo Pablo Pensado, B.Sc. Geol, M.Sc. in Mineral Exploration—Technical Consultant

Guillermo Pensado has extensive experience in uranium exploration, having held positions of Vice President of Exploration, Exploration Manager and Exploration Geologist for junior and senior mining companies as well as the Brazilian geological survey. He holds a B.Sc. in Geology from the University of La Plata, Argentina, and M.Sc. in Mineral Exploration from Queen’s University, Canada. He was awarded the David Money Medal Award from Queen’s University for the Top MinEx Student in the International Program.

Bruce Smith – Technical Consultant

Bruce Smith has over 20 years of experience in mineral exploration in Australia, New Zealand, Philippines, West Africa, Central America and Mexico. He holds a Bachelor of Science and Master of Science degree in geology from the University of Otago, New Zealand, a Master of Engineering in Water and Environmental Resource Management from the UNESCO Institute for Water Education, Delft, Netherlands and is a member of the Australian Institute of Mining and Metallurgy (AUSIMM).

Dr. Jorge Berizzo – Technical Advisor

Dr. Jorge Berizzo was a senior uranium geologist for the Argentine Government (CNEA) for 14 years. He was involved in the discovery of the 15 million lb. U3O8 Cerro Solo deposit. In 1979 he formulated a detailed regional exploration plan, this project was put on hold by the Argentine Government. He identified 5,000 km2 of projects for Blue Sky and instrumental in the discovery of the company’s uranium discovery in the provinces of Rio Negro and Chubut.

 Joseph Grosso—Advisor

Joseph Grosso is the President and Founder of Grosso Group Management Ltd. He became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment, and was named Argentina’s Mining Man of the Year in 2005. His knowledge of Argentina was instrumental in attracting a premier team which led to the acquisition of key properties in Golden Arrow’s portfolio. He has successfully formed strategic alliances and negotiated with mining industry majors such as Barrick, Teck, Newmont, Viceroy (now Yamana Gold) and Vale and government officials at all levels. Grosso’s specialty is financing, negotiations, corporate and marketing strategies. He is an early and passionate and committed adopter of best practices in environmental protection and socio-economic development through mineral exploration. Of Italian descent and fluent in Italian, English and Spanish, Grosso has lived in Argentina and Peru where he acquired a very deep appreciation for Latin culture and successfully developed a vast network of contacts which have been very beneficial to the associated companies of the Grosso Group.


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