TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market: BKUCF
VANCOUVER, BC,
March 23, 2022 /CNW/ -
Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF),
"Blue Sky" or the "Company") is pleased to report that
it has completed the previously announced drilling program at the
Ivana Deposit, within its wholly-owned Amarillo Grande
Uranium-Vanadium Project ("AGP") in Rio Negro Province, Argentina. Assay results will be released over
the coming weeks as they are received, compiled, and
interpreted.
Nikolaos Cacos, Blue Sky
President & CEO commented, "We are very pleased to complete
this program, which represents an important next step for advancing
the Ivana deposit towards a pre-development phase. Our next plan
for drilling will include a return to the Central target, some ten
kilometres north of Ivana, as part of our regional program to
identify additional resources at Amarillo Grande and build the
project into a multi-deposit uranium district."
As announced on September
28th, 2021, the reverse circulation ("RC")
drill program was designed to test the potential expansion of the
Ivana deposit to the west as well as adding holes in areas of lower
drill hole density at the margins of, and within, the Ivana deposit
to aid in upgrades to the mineral resource estimate that will
support advanced engineering studies. The program has concluded
with a total of 3,255 metres drilled in 350 holes. This brings the
total drilled at the immediate Ivana Deposit area to 10,877 metres
in 838 holes (see Figure 1).
The Company is continuing its exploration drilling program to
assess the potential of the Ivana North and Central target areas
situated north of the Ivana deposit (see news release dated
October 21, 2021). The first stage of
drilling at Ivana North portion is complete and identified a
geochemical pathfinder footprint similar to the Ivana deposit,
which was interpreted to confirm the potential for discovery of a
REDOX front related uranium mineralized system in the Ivana North
area. Of the first six holes (286 metres) drilled at Ivana Central,
two intersected anomalous uranium, including 120 ppm
U3O8 over 1 metre in hole AGIC-01.
Approximately 1,200 metres of the program remains to be drilled at
Ivana Central for completion of the first stage of drilling at this
target; an additional 1,500m of
follow-up drilling is also planned to vector towards and define
targets for new resources.
Qualified Persons
The design of the Company's exploration program was undertaken
by the Company's geological staff under the supervision
of David Terry, Ph.D., P.Geo. Dr. Terry 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.
About the Amarillo Grande Project
The Company's 100% owned Amarillo Grande Uranium-Vanadium
Project in Rio Negro Province,
Argentina is a new uranium
district controlled by Blue Sky. The Ivana deposit is the
cornerstone of the Project and the first part of the district for
which both a Mineral Resource Estimate and a Preliminary Economic
Assessment have been completed. Mineralization at the Ivana deposit
has characteristics of sandstone-type and surficial-type
uranium-vanadium deposits. The sandstone-type mineralization is
related to a braided fluvial system and indicates the potential for
a district-size system. In the surficial-type deposits,
mineralization coats loosely consolidated pebbles, and is amenable
to leaching and simple upgrading.
The Project includes several other target areas over a regional
trend, at or near surface. The area is flat-lying, semi-arid and
accessible year-round, with nearby rail, power and port access. The
Company's strategy includes delineating resources at multiple areas
and advancing the entire project to prefeasibility level.
For additional details on the project and properties, please see
the Company's website.
About Blue Sky Uranium Corp.
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 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, 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. 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.
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SOURCE Blue Sky Uranium Corp.