Blue Sky takes a major step with the biggest uranium discovery in Argentina in the last 40 years
Blue Sky Uranium Corp. (TSXV: BSK | OTCQB: BKUCF) is a leader in uranium discovery in Argentina, and is the 100% owner of approximately 459,000 hectares (1,134,000 acres) of uranium and vanadium concessions. The Company’s mission is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium-vanadium projects into low-cost producers. The Company’s flagship Amarillo Grande Project was an in-house discovery of a new district that now hosts the largest NI 43-101 uranium resource in the country.
Amarillo Grande is one of the most advanced uranium projects in Argentina and has the potential for low-cost mining & processing.
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Defined mineralization at Amarillo Grande is found in three target areas (Ivana, Anit, and Santa Barbara) along a 140 kilometre trend. Mineralization at all three areas occurs at or very near surface, in weakly-cemented host rocks, making simple and inexpensive open pit mining a likely development scenario. The majority of uranium mineralization found to date is in the form of the leach-amenable mineral carnotite as coatings on pebbles. Preliminary beneficiation test work on samples from Anit indicates that a simple wet-screening technique could be used onsite to concentrate and upgrade this material, which could significantly reduce transport and processing costs. Rio Negro already supports the nuclear industry with several facilities in the province.
- The Ivana property hosts a near-surface deposit of 23.9 million tonnes averaging 363 ppm U308 at a 100 ppm uranium cut-off, containing 19.1 million pounds of U308.
- The Ivana deposit is open for expansion.
- The full 140km uranium trend discovered by Blue Sky hosts near-surface uranium and vanadium mineralization, as shown below.
- Potential for discovery of additional resources on properties totaling over 280,000 hectares.
- Test work to date shows mineralization is amenable to alkaline leach processing and can be upgraded through simple low-cost wet screening, with >95% uranium recovery & 60% vanadium recovery from oxide composite sample using Alkaline leach.
- Excellent candidate to be the first low-cost, near-term uranium producer in Argentina.
The Amarillo Grande Project is located in central Rio Negro province, in the Patagonia region of southern Argentina. The properties are all road accessible from major centres, via the gravel Provincial Road 66, approximately 65 kilometres south of the town of Villa Regina, with the fifth largest population (28,000) in the province of Rio Negro.The project location has good infrastructure: power, water, skilled labour, and transportation available with 200 km to the nearest deep sea port. Rio Negro province is an open and mining-friendly jurisdiction.
In 2016 Blue Sky launched an aggressive exploration program to prove up resources and outline economics at Amarillo Grande in order to capitalize on its early-mover advantage with the goal of becoming the first domestic supplier of U3O8 to the Argentine nuclear industry.
Blue Sky selected Rio Negro as a high-potential location for new uranium deposits. Additionally the Company considers the exploration potential, for both uranium and vanadium, within the district-scale 140 kilometre geologic trend to be high.
The Company has a market cap of C$ 21.67m. The next major catalyst will be the Preliminary Economic Assessment planned for 2018.
Concerns over oil supply and global warming have renewed interest in nuclear energy, as it is a carbon-free source of electricity with no CO2 emissions. Blue Sky Uranium with its projects in Argentina are well place to take full advantage. Blue Sky Uranium offers investors a chance to buy into a potentially huge uranium/vanadium project with exploration upside, potential for low-cost production, low valuation and strong near term catalysts in 2018.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>