TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, March 2, 2020 /CNW/ - Blue Sky Uranium
Corp. (TSX-V: BSK, FSE: MAL2; OTC: BKUCF), ("Blue Sky" or the
"Company") is pleased to announce that the Company has
commenced a 4,500 metre reverse circulation ("RC") drilling
exploration program at its wholly-owned Amarillo Grande
Uranium-Vanadium Project in Rio Negro
Province, Argentina
("AGP"). The program will include a total of approximately 100
holes in two high-priority exploration target areas, Ivana Central
and Ivana North, located 10 and 20
kilometres north of the Company's Ivana Deposit (see Map 1:
https://bit.ly/2GTGmBF).
"We have successfully leveraged the knowledge we gained in
defining the Ivana deposit into an exploration toolbox that
has helped us delineate these new target areas", stated
Nikolaos Cacos, Blue Sky President
& CEO. "This new drilling program marks an exciting step
forward in the potential expansion from a single deposit at Ivana
to a multi-deposit uranium district along the
140-kilometre-long trend within the Amarillo Grande
Project."
The Ivana Central and Ivana North
targets are interpreted as being located along the same regional
redox front as the Ivana Deposit; comparable redox fronts in
other jurisdictions commonly host multiple deposits. The
exploration programs previously completed at these targets included
airborne and ground radiometric surveys, sediment and pit sampling,
auger and core diamond drilling and induced polarization (IP)
geophysical surveys. The compiled results indicate a positive
geological environment, with high IP anomalies and uranium-vanadium
mineralization observed, including 1.40% U3O8
over 1.10 m in pit samples (see News
Releases dated March 13, 2012;
May 16, 2019; September 19, 2019 and December 4, 2019).
RC Drilling Program Details
Each target covers a large area of approximately 4 by 7
kilometres. The drilling program was designed with a series of
goals and the flexibility to modify the initial drilling plan and
schedule based on results. Following this strategy, the program
will proceed with a 1,500 metre initial phase for each of Ivana
Central and Ivana North. A
subsequent 1,500 metre drill program will be planned to follow-up
the best results at both targets with more detailed drilling.
The drilling program will be executed using a FlexiROC D65 drill
rig from Atlas Copco, an ore-control track-mounted rig adapted to
reverse circulation and fitted with a triple cyclone to reduce the
dust loss during sampling. This same drill rig was used
successfully in other recent programs at the Ivana deposit.
Holes will be drilled vertically and are expected to average 40 to
50 metres depth; samples will be collected every metre.
Samples will be sent to Bureau Veritas Minerals of Mendoza,
Argentina for preparation by
drying, crushing to 80% passing 10 mesh and then pulverizing a 250g
split to 95% passing 150 mesh. Pulps will be sent to Bureau Veritas
Commodities Canada Ltd. for analysis of 45 elements by means of
Inductively Coupled Plasma Mass Spectrometry (ICP-MS) following a
four-acid digestion (MA-200). Samples over 4,000ppm uranium are
re-assayed after phosphoric acid leach by Inductively Coupled
Plasma Electron Spectrometry (ICP-ES). Approximately every 10th
sample a blank, duplicate, or standard sample is inserted into the
sample sequence for quality assurance/quality control (QA/QC)
purposes.
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
for which a central processing facility could consolidate
production.
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
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
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. 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.