VANCOUVER, April 29, 2019 /PRNewswire/ - Blue Sky Uranium Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), "Blue Sky" or the "Company") is pleased to report additional high-grade uranium and vanadium results from pit sampling carried out in the area immediately west of the Ivana Uranium-Vanadium deposit, at the Company's wholly-owned Amarillo Grande Project in Rio Negro, Argentina. This newly-identified near-surface mineralization is open to expansion, as indicated on Figure 1, (https://bit.ly/2IZknLO) but drilling is required for further testing as the target zone is interpreted to be at greater depth in adjacent areas.
"The recent robust preliminary economic assessment for Ivana provides a strong foundation for the Amarillo Grande Project. As we advance the Ivana deposit, we are also continuing our exploration work, and these results indicate the potential for further expansion in the immediate deposit area," stated Nikolaos Cacos, Blue Sky President & CEO.
Highlights of the new results for composite channel samples collected from pit walls with significant uranium and/or vanadium mineralization include:
1,881 ppm U3O8 & 640 ppm V2O5 over 2.0 m at AGI-CAL103,
Including 3,404 ppm (0.34%) U3O8 and 1,335 ppm (0.13%) V2O5 over 0.8 m
1,390 ppm U3O8 & 650 ppm V2O5 over 1.6 m at AGI-CAL56,
Including 2,332 ppm (0.23%) U3O8 and 1,016 ppm (0.10%) V2O5 over 0.7 m
610 ppm U3O8 & 384 ppm V2O5 over 1.6 m at AGI-CAL58,
Including 1,070 ppm (0.10%) U3O8 and 555 ppm (0.05%) V2O5 over 0.4 m
486 ppm U3O8 & 298 ppm V2O5 over 2.0 m at AGI-CAL78,
Including 1,206 ppm (0.12%) U3O8 and 589 (0.06%) ppm V2O5 over 0.6 m
Analytical results have now been received for total of 115 pits completed over two areas totalling approximately 150 hectares in the area west and southwest of the Ivana deposit (see Figure 1: https://bit.ly/2IZknLO); results for the first 39 pits were previously reported by the Company on November 15th, 2018. Both pit sample grids are located over areas with near-surface mineralization and shallow depth to basement, ideal for utilizing this inexpensive and effective sampling method. The uranium-vanadium mineralization defined by the northern pit sampling grid is interpreted to be the western extension of the northwestern domain of the Ivana current mineral resource, separated by an area of outcropping basement. Uranium-vanadium mineralization delineated in both pit sampling grids is open to further expansion to the west, however, auger and/or reverse circulation (RC) drilling may be required due to greater interpreted depth to basement in these areas. In addition, the gap between the two pit sampling grids, where basement is also interpreted to be at greater depth than in the two pit sample grid areas, is now being tested using the Company's auger drill. Results from the pit sampling and auger drilling will be incorporated into the plan for an upcoming RC drilling program to test for extensions into areas at greater depth.
Pit sample location information and analytical results are provided in Table 1 (https://bit.ly/2GPnl35) for significant intervals (>30ppm U3O8 or >250ppm V2O5) for the newly reported pit samples (#40-115), as well as previously reported (November 15, 2018 News Release) pit samples (#1-39). The pits were hand dug from surface down to a maximum of 2.9 metres. Pit logging and analytical results demonstrate that uranium and vanadium mineralization commonly occurs in unconsolidated clastic sediments and/or basement regolith below a thin (5 to 50cm) veneer of un-mineralized soil. The sampling also yielded anomalies for silver, copper, lead, zinc, molybdenum, cadmium, cerium, thallium, rhenium, thorium and yttrium, representing potential pathfinders for further exploration.