Blue Sky Uranium drills one metre of 0.13% U3O8 at Amarillo, Argentina

Blue Sky Uranium Corp. [BSK-TSXV; BKUCF-OTC; MAL2-FSE] reported assay results from the third and last tranche of the recently completed reverse circulation (RC) drilling program at the Ivana deposit within its wholly owned Amarillo Grande uranium-vanadium project (AGP) in Rio Negro province, Argentina.

This tranche of drilling returned 2,042 samples from 209 holes averaging 9.3 metres depth that tested areas of lower drill hole density at the margins of, and within, the western portion of the Ivana deposit; as well as testing the potential expansion of the deposit to the west. These results will be included in a future mineral resource estimate update for the Ivana deposit.

Highlights of the new RC drill results include seven metres averaging 309 parts per million U₃O₈ (uranium oxide) and 417 ppm V₂O₅ (vanadium oxide), including 1,273 ppm U₃O₈ and 1,260 ppm V₂O₅ over one metre in AGI-817.

Hole AGI-764 returned eight metres averaging 197 ppm U₃O₈ and 202 ppm V₂O₅, including 805 ppm U₃O₈and 243 ppm V₂O₅ over one metre.

AGI-630 returned four metres averaging 238 ppm U₃O₈ and 56 ppm V₂O₅, including 580 ppm U₃O₈ and 50 ppm V₂O₅ over one metre.

AGI-823 returned nine metres averaging 123 ppm U₃O₈ and 204 ppm V₂O₅, including 500 ppm U₃O₈ and 332 ppm V₂O₅ over one metre.

AGI-819 returned seven metres averaging 117 ppm U₃O₈ and 161 ppm V₂O₅, including 409 ppm U₃O₈and 234 ppm V₂O₅ over one metre.

AGI-637 returned six metres averaging 207 ppm U₃O₈ and 90 ppm V₂O₅, including 335 ppm U₃O₈ and 25 ppm V₂O₅ over one metre. All holes were vertical and the reported intervals are believed to represent true thickness.

Nikolaos Cacos, Blue Sky president and CEO, commented: “These results complete a very successful program, once again hitting significant uranium and vanadium mineralization both at our infill and expansion targets. We look forward to updating our resource estimate and moving the Ivana deposit closer to a prefeasibility stage in the future”

The assay results from drilling in the step-out zone, to the west of the current Ivana mineral resource, have confirmed the presence of uranium and vanadium mineralization near surface. Hole AGI-764, located 700 m west of the boundary of the current mineral resource estimate published on Feb. 27, 2019, includes eight m averaging 197 ppm U₃O₈ and 202 ppm V₂O₅ from one to nine metres in depth, including one metre at 805 ppm U₃O₈ and 243 ppm V₂O₅ starting at one metre.

In this potential expansion step-out zone, the presence of near-surface vanadium mineralization is notable, as observed in the following highlighted intercepts: four m averaging 580 ppm V₂O_5, including 969 ppm V₂O₅ over one metre in AGI-748; five metres averaging 469 ppm V₂O₅; including 932 ppm V₂O₅ over one m in AGI-750; two metres averaging 544 ppm V₂O₅in AGI-781.

Drilling of areas with previously low-density hole coverage within the boundary of the current mineral resource estimate yielded a number of significant uranium intercepts as reported above, in addition to those previously reported on April 5, 2022. Many of these holes also had notable vanadium intercepts, such as seven m averaging 417 ppm V₂O₅; including 1,260 ppm V₂O₅ over one metre in AGI-817; two m averaging 552 ppm V₂O_5, including 828 ppm V₂O₅ over one metre in AGI-806; seven metres averaging 244 ppm V₂O_5, including 498 ppm V₂O₅ over one metre in AGI-796.

The entire program collected 3,136 samples from 350 new holes, totalling 3,346 metres drilled. This new data set will be included in a future mineral resource estimate. The new database includes samples from 838 RC holes sampled every metre. The aim of a new resource estimation is to upgrade a portion of the current inferred mineral resources into indicated mineral resources for the purposes of supporting a future prefeasibility study.

The company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.