Blue Sky Uranium (BSK.V) has released the assay results from more infill drill holes which were completed at the Ivana uranium target, one of the main zones of the Amarillo Grande uranium-vanadium project in Argentina.
The real eye-catchers were the assay results with 1 meter of 10,517 ppm U308, as well as 2 meters of 8,618 ppm and several other 1 meter intercepts with an average grade of in excess of 1,000 ppm (no assay results for vanadium were released). As you might remember from our initial report; the uranium mineralization at Amarillo Grande is very close to the surface and appears to be very flat, making the economics of a potential mining operation even more appealing.
As the infill drill program appears to be very successful, Blue Sky has decided to increase the drill program by 50% to 4,500 meters, and these additional meters should be completed by the end of this month. Once all assay results and data will have been received by the company, Blue Sky will immediately get working on a maiden resource estimate. As we mentioned in our report, we would consider anything between 10 and 15 million pounds of uranium to be a good start.
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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
