Posted in | Uranium | Mining Business

Blue Sky Expands Land Holdings at Amarillo Grande Uranium Project

Blue Sky Uranium Corp. (TSX VENTURE:BSK) (FRANKFURT:MAL2) (OTCQB:BKUCF), ("Blue Sky" or the "Company") is pleased to announce that the Company has staked ten new exploration properties (cateos) totaling 100,000 hectares in the core of the 140-kilometre mineralized trend of the Amarillo Grande Uranium Project ("the Project") in Rio Negro province, Argentina. With the addition of these new properties, Blue Sky controls all of the most prospective targets in this new uranium district, with total land holdings of over 280,000 hectares.

"We are thrilled to be able to make such a significant expansion to our already highly prospective land holdings at the Amarillo Grande Project. We are moving quickly to explore all the high-priority areas and delineate our drill targets for 2017," stated Blue Sky President and CEO Nikolaos Cacos.

Fifteen Kilometre Ground Geophysical Survey Launched

Blue Sky has completed an initial ground geophysical survey at the Anit property of the Amarillo Grande Project using Electrical Tomography (ET). Results from the survey (see Figure 1 below) indicate that ET is an excellent indirect tool to define near-surface ancient river channels ("paleochannels") & high-conductivity horizons that potentially host uranium mineralization. Based on these results, the Company is launching a fifteen kilometre ET survey over the main targets within the Amarillo Grande project. This program will help to refine targets for a 10,000 metre RC drilling program, scheduled to commence at the beginning of 2017.

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About the Amarillo Grande Project

This new uranium district was first identified, staked and underwent preliminary exploration by Blue Sky from 2007 to 2012 as part of the Grosso Group's strategy of adding alternative energy focus to its successful portfolio of metals exploration companies. The close proximity of several major targets suggest that if resources are delineated a central processing facility would be envisioned. The area is flat-lying, semi-arid and accessible year round, with nearby rail, power and port access.

Mineralization identified to date represents a Surficial Uranium style of deposit, where carnotite mineralization coats loosely consolidated pebbles of sandstone and conglomerates. Carnotite is amenable to leaching, and early metallurgical work indicates that the mineralized material can be upgraded using a very simple wet screening method. The near-surface mineralization, ability to locally upgrade, amenability to leaching and central processing possibility suggest a potentially low-cost development scenario for a future deposit.

Rio Negro is host to several facilities related to the nuclear industry. Furthermore, the Provincial government is amenable to mining as a means of socio-economical development. In addition, the Federal government has expressed support for building domestic resources of uranium. In particular, the Argentina Atomic Energy National Commission (CNEA) published its Strategic Plan 2015-2025, which includes a strategic objective "To ensure the supply of domestic uranium for nuclear power plants in operation, under construction and planned."


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