After it recently completed a C$3.5 capital raise, Blue Sky Uranium (BSK.V) continues to advance the Amarillo Grande Uranium (& Vanadium) project in Argentina’s Rio Negro province. It’s continuing to work on the metallurgical test activities, as the Saskatchewan Research Council is helping with designing a flow sheet to process the rock coming from the Ivana project.
Topping up the cash balance also means Blue Sky Uranium can continue to expand the current 19.1 million pound uranium resource at Ivana, and the company’s exploration team is following up on some promising leads at and around the main zones at Ivana. A total of 426 meters has been drilled in 110 holes (indicating an average depth of less than 4 meters per hole), but Blue Sky is planning a 1,000 meter step out drill program to start any day now. As the mineralized blanket is typically much larger than the current 23.9 million tonnes which host the 19.1M pound resource, we hope to see Blue Sky significantly expanding the mineralized envelope.
This could help the company to boost its exploration target for Amarillo Grande which is shaping up to become one of Argentina’s prime uranium projects.
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The author has a long position in Blue Sky Uranium. Blue Sky is a sponsor of the website. Please read the disclaimer
