Blue Sky Makes Significant New Uranium-Vanadium Discovery at Amarillo Grande Project

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Blue Sky Uranium Corp. reported Phase I Extension reverse circulation (RC) drilling results for the Ivana target and the Phase I results from the remainder of the Amarillo Grande uranium-vanadium project, in Rio Negro Province.

At the Ivana target, RC drilling on the eastern flank of the previously-reported Phase I drilling area has defined a strongly mineralized corridor that extends more than 2 kilometres in a northeast direction, is between 200 and >400 metres wide, up to 20 metres thick, and is open to expansion to the southeast and to the north. This largely continuously mineralized zone includes a higher-grade core zone over one kilometre in length, which includes drill intercepts of up to 3,136 ppm U3O8 over one metre (AGI-0100). Strong uranium grades are also present within the interpreted southeastern extension (942ppm U3O8 over one metre in AGI-0124); and, the northern extension (817ppm U3O8 over one metre – AGI-0138).

Highlights include:

  • 1,861 ppm U3O8 over 3 m (within 405 ppm U3O8 over 20 m in AGI-0100)
  • 1,410 ppm U3O8 over 1 m (within 571 ppm U3O8 over 6 m in AGI-0120)
  • 942 ppm U3O8 over 1 m (within 575 ppm U3O8 over 3 m in AGI-0124)
  • 877 ppm U3O8 over 1 m (within 423 ppm U3O8 over 7 m in AGI-0119)
  • 835 ppm U3O8 over 1 m (within 447 ppm U3O8 over 6 m in AGI-0137)
  • 814 ppm U3O8 over 1 m (within 570 ppm U3O8 over 5 m in AGI-0099)
  • 647 ppm U3O8 over 1 m (within 420 ppm U3O8 over 5 m in AGI-0131)

Most of the uranium-vanadium found to date at Ivana and elsewhere on the Amarillo Grande property has consisted of carnotite mineralization in a surficial deposit type setting. The Company has commenced additional geophysical surveys and RC drilling to expand the strongly mineralized corridors identified to date at Ivana. Metallurgical testwork is also progressing.

The 269,000-hectare (~665,000 acre) Amarillo Grande project spans a 140-kilometre long trend along which a number of areas of uranium-vanadium mineralization have been identified. From northwest to southeast there are three primary outcropping target areas named Santa Barbara, Anit and Ivana. This Phase 1 and Phase 1 extension RC drilling program included a total of 3,730 metres of RC drilling in 256 holes.

 

Ivana Target

Based on the first set of results, a follow-up program was designed, including additional electrical tomography (ET) geophysical surveying and 60 RC drill holes totaling 858 metres, to further define an area with elevated uranium-vanadium on the eastern flank of the previously-drilled area. Overall, approximately two-thirds (104) of the 158 holes at Ivana returned intervals of at least one metre of more than 30 ppm U3O8 and grades ranged as high as 3,136 ppm over 1 metre. The mineralized area now covers approximately 3,400 metres x 1,300 metres with depths to 23 metres, including higher-grade zones. The follow-up program provided new information that has resulted in the geological team updating the deposit model reflecting characteristics of sandstone-type and surficial-type uranium-vanadium mineralization. Additional geophysical surveys and RC drilling to define the expansion potential of mineralized corridors is ongoing at Ivana and metallurgical testwork is also progressing on material from Ivana.

 

Anit Target

Drilling at Anit included 83 holes for a total of 1170 metres, with the deepest holes drilled to 20 metres. The program was designed to audit previous exploration results as well as test adjacent areas for extensions to mineralization. The program successfully confirmed the spatial correlation of the previously recognized mineralized zones. Out of 83 holes drilled, 53 returned intervals with at least one metre of more than 30 ppm U3O8. This area is particularly well-mineralized in vanadium with 55 of the holes returning intervals of at least one metre of 500 ppm V2O5, with values reaching as high as 3,411 ppm (0.34% in AGA-049).

Integrating the results of the 2017 RC drilling with the previous pit sampling, trench sampling and aircore drilling data is ongoing and is aimed at refining future infill and step-out drilling plans.

 

About the Amarillo Grande Project

Mineralization identified to date at Amarillo Grande has characteristics of sandstone-type and surficial-type uranium-vanadium deposits. In surficial-type uranium deposits, carnotite mineralization coats loosely consolidated pebbles of sandstone and conglomerates. Carnotite is amenable to leaching, and preliminary metallurgical work at the project indicates that the mineralized material can be upgraded using a very simple wet screening method. The near-surface mineralization, ability to locally upgrade, amenability to leaching and central processing possibility suggest a potentially low-cost development scenario for a future deposit.

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