Blue Sky Uranium Corp. (TSX-V:BSK, OTCQB:BKUCF) said it has completed its drill program at the Ivana deposit at its Amarillo Grande uranium-vanadium project in Argentina in a bid to boost the resource, with 3,255 meters (m) in 350 holes sunk.
"We are very pleased to complete this program, which represents an important next step for advancing the Ivana deposit towards a pre-development phase," Nikolaos Cacos, Blue Sky's CEO told investors in a statement.
"Our next plan for drilling will include a return to the Central target, some ten kilometers north of Ivana, as part of our regional program to identify additional resources at Amarillo Grande and build the project into a multi-deposit uranium district," he added.
READ: Blue Sky Uranium discovers additional uranium-vanadium from step-out drilling at Ivana Deposit in Argentina
As previously reported, the reverse circulation (RC) program was designed to test the potential expansion of the Ivana deposit and add holes to aid in upgrades to the resource, which will support advanced engineering studies.
The company is currently continuing its exploration drilling to assess the potential of the Ivana North and Central target areas, which lie north of the Ivana deposit.
Of the first six holes (286 meters) drilled at Ivana Central, two hit anomalous uranium, noted the company, including 120 parts per million (ppm) U3O8 over 1m in one hole.
"Approximately 1,200 meters of the program remains to be drilled at Ivana Central for completion of the first stage of drilling at this target; an additional 1,500m of follow-up drilling is also planned to vector towards and define targets for new resources," the company said.
Blue Sky's wholly-owned Amarillo Grande asset in Rio Negro province is a new uranium district controlled by Blue Sky.
The Ivana deposit is the first part of the district for which both a resource estimate and a preliminary economic assessment (PEA) have been completed.
Contact the writer at giles@proactiveinvestors.com