Blue Sky Implements Second Strategy to Advance Uranium District in Argentina
Source: Streetwise Reports
October 7, 2021 (Investorideas.com Newswire) With two goals, to identify new mineralized deposits at Amarillo Grande and to expand the resource at the project's Ivana deposit, Blue Sky Uranium is carrying out two concurrent drill programs.
Aiming to advance Amarillo Grande into a multideposit uranium district, Blue Sky Uranium Corp. (BSK:TSX.V; BKUCF:OTCQB; MAL2:FSE) initiated a second 2021 exploration strategy and goal there.
They are to expand and upgrade the existing resources at the Ivana deposit, the cornerstone of this uranium-vanadium project in Argentina, through another drill program. This newest campaign will consist of 3,500 meters (3,500m) of exploratory reverse circulation drilling, according to a news release, and work will cover two areas.
One is Ivana's western portion, where channel sampling in 2018 returned uranium values up to 5,032 parts per million (5,032 ppm) and vanadium values up to 323 ppm. Blue Sky will place about 60 shallow holes in this targeted area.
Also, the company will drill at the margins of and within Ivana in places less extensively drilled previously.
Blue Sky's first approach in 2021 to advancing Amarillo Grande, begun in February and still underway, is reverse circulation drilling to identify new uranium resources near the Ivana deposit and throughout the district. Blue Sky recently completed the first phase of this 4,500m drill program, drilling the Ivana North target, for which results are pending.
In the next phase, Blue Sky will continue drilling Ivana Central once it receives updated drill permits.
The Ivana deposit is just one part of a potentially much, much larger asset, and this is because Amarillo Grande is a district. It is similar to the districts in Kazakhstan, where individual deposits can host up to 200,000,000 pounds of uranium, noted Blue Sky President and CEO Niko Cacos. Currently, Ivana's mineral resource estimate consists of Inferred resource of 22,700,000 pounds (22.7 Mlb) of uranium and 11.5 Mlb of vanadium. Amarillo Grande could eventually rank among the world's largest and lowest cost uranium districts.
With Amarillo Grande, Blue Sky could join the world's main uranium suppliers, primarily in Kazakhstan and Russia, but with an operation in Argentina. The exploration company also could become the domestic supplier of uranium in that South American country.
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