Blue Sky Uranium Corp.(TSXV: BSK) has received high-grade assay results from the third and last tranche of the recently completed reverse circulation (RC) drilling programme at the Ivana Deposit within its wholly-owned Amarillo Grande Uranium-Vanadium Project (AGP) in Rio Negro Province, Argentina.
This tranche of drilling returned 2,042 samples from 209 holes averaging 9.3m depth that tested areas of lower drill hole density at the margins of, and within, the western portion of the Ivana deposit; as well as testing the potential expansion of the deposit to the west. These results will be included in a future mineral resource estimate update for the Ivana deposit.
Highlights of the new RC drill results include:
- 7m averaging 309ppm U3O8 and 417 ppm V2O5
- including 1,273ppm U3O8 and 1,260ppm V2O5 over 1 min AGI-817
- 8m averaging 197ppm U3O8 and 202ppmV2O5
- including 805ppm U3O8 and 243ppm V2O5 over 1m in AGI-764
- 4m averaging 238ppm U3O8 and 56ppmV2O5
- including 580ppm U3O8 and 50ppm V2O5 over 1m in AGI-630
- 9m averaging 123ppm U3O8 and 204ppmV2O5
- including 500ppm U3O8 and 332ppm V2O5 over 1m in AGI-823
- 7m averaging 117ppm U3O8 and 161ppmV2O5
- including 409ppm U3O8 and 234ppm V2O5 over 1m in AGI-819
- 6m averaging 207ppm U3O8 and 90ppmV2O5
- including 335ppm U3O8 and 25ppm V2O5 over 1m in AGI-637
“These results complete a very successful program, once again hitting significant uranium and vanadium mineralisation both at our infill and expansion targets. We look forward to updating our resource estimate and moving the Ivana deposit closer to a prefeasibility stage in the future,” President and CEO, Nikolaos Cacos, said.
}The assay results from drilling in the step-out zone, to the west of the current Ivana mineral resource, have confirmed the presence of uranium and vanadium mineralisation near surface. Hole AGI-764, located 700m west of the boundary of the current mineral resource estimate published on February 27, 2019, includes 8.0 metres averaging 197ppm U3O8 and 202ppm V2O5 from 1.0 to 9.0 metres in depth, including 1m @ 805ppm U3O8 and 243ppm V2O5 starting at 1.0 metre.
In this potential expansion step-out zone, the presence of near surface vanadium mineralization is notable, as observed in the following highlighted intercepts:
- 4m averaging 580 ppm V2O5; including 969ppm V2O5 over 1 min AGI-748
- 5m averaging 469 ppm V2O5; including 932ppm V2O5 over 1 min AGI-750
- 2m averaging 544 ppm V2O5 in AGI-781
Drilling of areas with previously low-density hole coverage within the boundary of the current mineral resource estimate yielded a number of significant uranium intercepts as reported above, in addition to those previously reported on April 5, 2022. Many of these holes also had notable vanadium intercepts, as highlighted below:
- 7m averaging 417 ppm V2O5; including 1,260ppm V2O5 over 1 min AGI-817
- 2m averaging 552 ppm V2O5; including 828ppm V2O5 over 1 min AGI-806
- 7m averaging 244 ppm V2O5; including 498ppm V2O5 over 1 min AGI-796
The entire program collected 3,136 samples from 350 new holes, totalling 3,346 metres drilled. This new data set will be included in a future mineral resource estimate. The new database includes samples from 838 RC holes sampled every metre. The aim of a new resource estimation is to upgrade a portion of the current inferred mineral resources into indicated mineral resources for the purposes of supporting a future prefeasibility study (PFS).
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