Blue Sky Uranium files NI 43-101 report for Ivana PEA

Apr 15, 2019

2019-04-12 14:14 ET – News Release

Mr. Nikolaos Cacos reports

BLUE SKY URANIUM FILES NI 43-101 REPORT FOR THE FIRST PRELIMINARY ECONOMIC ASSESSMENT AT AMARILLO GRANDE URANIUM-VANADIUM PROJECT, ARGENTINA

Blue Sky Uranium Corp. has filed a National Instrument 43-101 technical report supporting disclosure of the first independent preliminary economic assessment for the Ivana deposit at the company’s 100-per-cent-owned Amarillo Grande uranium-vanadium project in Rio Negro province, Argentina, as reported on Feb. 27, 2019. The PEA concludes that the current mineral resources support 13 years of uranium and vanadium production from a surficial mining operation, with robust economics after modest capital outlay.

The report, titled “Preliminary Economic Assessment for the Ivana Uranium-Vanadium Deposit, Amarillo Grande Project,” with an effective date of Feb. 27, 2019, is available under the company’s profile on SEDAR and will be posted to the company’s website.

Qualified persons

The PEA was prepared under the direction of consultant Ken Kuchling, PEng, a mining engineer specializing in economic reviews and an independent qualified person as defined in NI 43-101. Additional contributing qualified persons for the PEA are:

Dr. Jon Thorson, PhD, Certified Professional Geologist (geological interpretation);
Chuck Edwards, PEng, Fellow of the Canadian Insitute of Mining (metallurgy and processing);
Ken Embree, PEng, of Knight Piesold Ltd. (waste and water management).

The updated mineral resource estimate and associated information in the report was prepared under the direction of Dr. Bruce Davis, PhD, Fellow of the Australasian Institute of Mining and Metallurgy, of BD Resource Consulting Inc. and Susan Lomas, PGeo, of Lions Gate Geological Consulting Inc. Both Dr. Davis and Ms. Lomas are independent qualified persons as defined in NI 43-101.

Dr. David Terry, PhD, PGeo, is a director of the company and a qualified person as defined in NI 43-101. The contents of this news release have been reviewed and approved by Dr. Terry.

About the Amarillo Grande project

The company’s 100-per-cent-owned Amarillo Grande uranium-vanadium project in Rio Negro province, Argentina, is a new uranium district controlled by Blue Sky. The Ivana deposit is the cornerstone of the project and the first part of the district for which both a mineral resource estimate and a preliminary economic assessment have been completed. Mineralization at the Ivana deposit has characteristics of sandstone-type and surficial-type uranium-vanadium deposits. The sandstone-type mineralization is related to a braided fluvial system and indicates the potential for a district-size system. In the surficial-type deposits, mineralization coats loosely consolidated pebbles, and is amenable to leaching and simple upgrading. The PEA demonstrates robust economics for a surficial mining operation of the Ivana deposit, with 13 years of uranium and vanadium production.

The project includes several other target areas over a regional trend, at or near surface. The area is flat-lying, semi-arid and accessible year-round, with nearby rail, power and port access. The company’s strategy includes delineating resources at multiple areas for which a central processing facility could consolidate production.

About Blue Sky Uranium Corp.

Blue Sky is a leader in uranium discovery in Argentina. The company’s objective is to deliver returns to shareholders by advancing a portfolio of surficial uranium deposits into low-cost producers. Blue Sky has the exclusive right to over 434,000 hectares of property in two provinces in Argentina. The company’s Amarillo Grande project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier.

We seek Safe Harbor.

https://www.blueskyuranium.com/