Blue Sky Uranium Corp. (TSX-V:BSK, OTCQB:BKUCF) said it is hoping to detect blind uranium mineralization at depth at its Amarillo Grande uranium-vanadium project in Argentina.
The company is using various techniques, including isotopic surveys, a first for the project.
Blue Sky is currently focusing on surface exploration while updating environmental permits for further drilling.
Exploration work concentrated in the Ivana sector, involves mapping, soil and pit sampling, auger drilling, and isotopic analysis. This isotopic technique identifies uranium at depth by detecting specific lead isotopes in surface samples, a method successfully used in other uranium districts.
Blue Sky plans to compare isotopic patterns found at the Ivana deposit with those from other known mineralization areas, such as Ivana Central, to generate new drill targets. If successful, this approach could be applied across the entire 145-km project to identify additional uranium deposits.
"This new program is another step in the execution of our strategic plan to discover and develop a cluster of deposits that could feed a central processing facility at Ivana and expand the proposed development scenario presented in the recent positive PEA,” Blue Sky CEO Nikolaos Cacos said in a statement.
In parallel with its exploration efforts, Blue Sky is finalizing a transaction with Corredor Americano S.A. (COAM), an affiliate of Corporación América Group. As announced in June 2024, COAM has the option to earn up to a 50% interest in the Ivana Uranium-Vanadium deposit by funding the project through to a feasibility study. COAM can further increase its stake to 80% by covering all capital costs required to reach commercial production.
Blue Sky feels it is also poised to benefit from Argentina's newly approved Incentive Regime for Large Investments (RIGI), part of a broader legislative initiative by President Javier Milei. The RIGI offers significant tax benefits and legal protections for investments over $200 million in sectors such as mining. Rio Negro Province, where the Amarillo Grande Project is located, was the first to adopt the RIGI, positioning Blue Sky favorably as it advances its project.
“Once the company closes the proposed JV transaction with COAM, and in light of the recent positive tax measures in Argentina, summarized below, we anticipate advancing Ivana towards pre-feasibility, and, if positive, then feasibility and development, as quickly as possible,” Cacos added.