Blue Sky Uranium acquires two Argentina projects

These acquisitions represent a strategic initiative to broaden the Company’s medium to long-term prospects for discovery of additional uranium mineral resources.

Highlights:

• Option to earn a 100% interest in the 20 000 ha. Corcovo project in the eastern part of the Neuquén basin within the province of Mendoza:
  • Capitalises on new mining promotion initiatives from the provincial government.
  • The state-owned National Atomic Energy Commission (CNEA) identified uranium exploration potential in this area.
  • Uranium radiometric anomalies detected at depth in oil and gas wells, with geologic conditions consistent with those hosting ISR uranium deposits.
• 100% control of the 60 000 ha. Chihuidos Project in the centre of the Neuquén basin, in the province of Neuquén:
  • Initially recognised by CNEA in the 1960’s and 70’s; more recently explored by Cameco Corp., in joint venture with Calypso Uranium Corp. in the early 2000’s.
  • Situated on a topographic high surrounded by airborne radiometric anomalies and surface uranium occurrences, providing potential for a preserved uranium mineralised system at depth.

Blue Sky has initiated the permitting process for field programmes. At the same time, the Company is working to identify and prioritise prospective targets for future exploration and drill testing by updating and verifying the database for both projects, which include publicly available bore-hole surveys and seismic 2D/3D surveys from historic oil and gas exploration.

Nikolaos Cacos, Blue Sky President and CEO, commented, “Within our flagship Amarillo Grande Project (AGP) we have the Ivana deposit moving into the prefeasibility stage, and multiple established exploration targets that are ready for the next steps. So it is time for us to look to expand our longer-term project pipeline, particularly with the strong support we are seeing for the uranium market. Similar to the surficial mining targets at AGP, ISR-amenable uranium deposits provide the opportunity for low-cost, low-impact production and the potential for shorter development timelines. Not surprisingly, ISR is the most commonly used production method in uranium mining globally, and projects amenable to these recovery methods are highly sought after for future production. Both Corcovo and Chihuidos provide us with excellent prospects for identifying ISR-amenable uranium resources and we look forward to repeating the exploration success that we have had at AGP.”

Read the article online at: https://www.globalminingreview.com/mining/20062024/blue-sky-uranium-acquires-two-argentina-projects/