Latest news with #NikolaosCacos
Globe and Mail
6 days ago
- Business
- Globe and Mail
Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina
TSX Venture Exchange: BSK Frankfurt Stock Exchange: MAL2 OTCQB Venture Market (OTC): BKUCF VANCOUVER, BC , June 4, 2025 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) , ("Blue Sky" or the "Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR") high potential target in Mendoza Province , Argentina . The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1). Nikolaos Cacos , President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA") and confirm Corcovo as a promising new target area in our portfolio." The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development. Highlights of the Technical Review: Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including: Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm. Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm. *depths indicated are metres below drilling surface The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m ) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres. A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1, grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes. Deposit Model The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( 06/02/2025). Planned Activities and Data Acquisition The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing. Drill Hole Data Summary Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq (Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.) Hole ID Year From (m) To (m) GR (API) Ueq (ppm) Thickness (m) Horizon JCP-1001 2007 576 577 416 39 0.8 Centenario Edge 584 594 389 36 9.7 Centenario Core 598 605 366 32 7.8 Centenario Core 570 571 349 28 0.5 Centenario Edge 611 611 339 31 0.5 Centenario Core JCP-1006 2008 569 579 743 65 10.1 Centenario Core 443 445 397 36 1.7 Rayoso Channel 542 543 384 35 1.1 Centenario Core JCP-1004 2008 588 589 679 69 1.1 Centenario Core JCP-1002 2007 559 564 823 66 5.0 Centenario Core 569 569 300 19 0.2 Centenario Core CoHS.a-2066 2018 637 638 749 70 0.8 Centenario Core 657 657 403 36 0.8 Centenario Core CoHS.a-2016 2013 569 570 954 78 1.4 Centenario Core CoHS-2026 2009 328 330 787 76 1.7 Neuquén 576 577 417 31 0.8 Centenario Core CoHS-2027 2015 572 573 625 60 1.5 Centenario Core 430 433 324 27 3.5 Rayoso Channel 314 318 305 24 3.5 Neuquén CoH.a-4 2007 548 549 491 49 0.8 Centenario Edge 488 490 422 37 1.7 Rayoso Channel 603 604 343 25 0.6 Centenario Core 612 613 329 31 0.5 Centenario Core 749 750 327 25 0.6 CoHS.a-1021 2011 575 576 549 54 1.0 Centenario Core CoHS.a-2034 2016 436 437 416 38 1.2 Rayoso Channel 567 567 357 20 0.3 Centenario Core CoHS.a-2064 2018 563 568 367 32 4.7 Centenario Core 2012 575 578 327 24 2.6 Centenario Core 2013 568 568 304 24 0.2 Centenario Core CoHS-2010 2012 577 578 439 41 0.6 Centenario Core CoHS-2013 2012 573 574 354 31 0.5 Centenario Core CoHS-2019 2013 578 579 721 60 1.2 Centenario Core 570 572 709 65 2.1 Centenario Core CoHS-2022 2014 471 471 359 24 0.5 Centenario Core CoHS-2028 2015 578 578 362 24 0.3 Centenario Core CoHS-2029 2015 574 575 421 31 1.1 Centenario Core ECo.a-3 2006 575 578 304 24 2.9 Centenario Core ECo.a-5 2006 588 589 304 24 1.1 Centenario Core CoHS.a-2001 2011 573 573 345 26 0.5 Centenario Core CoHS.a-2068 2018 591 592 427 37 0.6 Centenario Core CoHS.a-2014 2013 577 578 337 30 0.6 Centenario Core CoHS.a-1009 2009 703 703 304 24 0.2 Centenario Core CoHS.a-1018 2010 428 429 517 44 1.1 Rayoso Channel 571 571 349 32 0.5 Centenario Core CoHS.a-2004 2011 570 571 446 45 1.3 Centenario Core 579 582 314 24 3.1 Centenario Core CoHS.a-2007 2012 573 574 367 33 0.6 Centenario Core CoHS.a-2012 2012 576 577 438 38 0.6 Centenario Core 441 442 375 34 0.8 Rayoso Channel Note: Ueq is a length weighted average over the reported interval. Methodology and QA/QC Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person. Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content. Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs. Qualified Persons The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi , CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101. About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina . The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Nikolaos Cacos" ______________________________________ Nikolaos Cacos , President, CEO and Director Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
Cision Canada
6 days ago
- Business
- Cision Canada
Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina
TSX Venture Exchange: BSK Frankfurt Stock Exchange: MAL2 OTCQB Venture Market (OTC): BKUCF VANCOUVER, BC, June 4, 2025 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the"Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR") high potential target in Mendoza Province, Argentina. The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1). Nikolaos Cacos, President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA") and confirm Corcovo as a promising new target area in our portfolio." The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development. Highlights of the Technical Review: Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including: Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm. Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm. *depths indicated are metres below drilling surface The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres. A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1, grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes. Deposit Model The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( 06/02/2025). Planned Activities and Data Acquisition The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing. Drill Hole Data Summary Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq (Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.) Methodology and QA/QC Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person. Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content. Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs. Qualified Persons The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101. About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Nikolaos Cacos" ______________________________________ Nikolaos Cacos, President, CEO and Director Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
Yahoo
26-05-2025
- Business
- Yahoo
Golden Arrow Appoints New President & CEO
TSX Venture Exchange (TSX-V): GRGFrankfurt Stock Exchange (FSE): G6AOTCQB Venture Market (OTCQB): GARWF VANCOUVER, BC, May 26, 2025 /PRNewswire/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to announce the appointment of Nikolaos Cacos as President & CEO of the Company. Joseph Grosso, who is stepping down from those roles, will continue to serve as a director and Chairman of the Board. Mr. Cacos commented, "I am grateful to Joe for entrusting this role to me. His pioneering vision and entrepreneurial acumen has spearheaded Golden Arrow's many successes, including the discovery and monetizing of our Gualcamayo royalty; the discovery, development and sale of the Chinchillas silver-lead-zinc deposit; the growth of a portfolio of highly prospective properties in Argentina; and, most recently, a new deposit discovery at the Company's San Pietro IOCG project in Chile. He has built a cohesive team in three countries, and we all look forward to his continued guidance in his role as Chairman as we work to carry-on Golden Arrow's success." Previously, as Vice President, Corporate Development and a Director for Golden Arrow, Mr. Cacos has played an integral role in the management and development of the Company. Mr. Cacos has held senior level executive roles in all of the Grosso Group companies since the group's inception in 1993. His work has been essential in seeing those companies through major milestones, including recent transactions with international conglomerates Stellantis N.V. and Corporación América Group. About Golden Arrow: Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Joseph Grosso" _______________________________Mr. Joseph Grosso,Executive Chairman, President and CEO Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. View original content to download multimedia: SOURCE Golden Arrow Resources Corporation
Cision Canada
22-05-2025
- Business
- Cision Canada
Blue Sky Uranium Schedules Start of Drill Program for Ivana Uranium-Vanadium Project
TSX Venture Exchange: BSK Frankfurt Stock Exchange: MAL2 OTCQB Venture Market (OTC): BKUCF VANCOUVER, BC, May 22, 2025 /CNW/ - Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the"Company") is pleased to announce that it has secured drill contractors and scheduled a start date of June 1 st, 2025 for the previously announced drill programs to advance the Ivana Uranium-Vanadium Project (the " Project"). As reported on May 14, 2025, Blue Sky's joint-venture operating company Ivana Minerales S.A., (" JVCO", a partnership with Abatare Spain, S.L.U.) has planned a two-phase drilling campaign. The first phase will focus on infill drilling at the Ivana deposit, while the subsequent second phase will test satellite targets. The entire campaign is expected to last approximately five months. Nikolaos Cacos, President & CEO of the Company stated, "Our JVCO team has procured agreements with very capable operators that will enable us to advance Ivana quickly and efficiently. We look forward to seeing the drills turning again as we move our pre-feasibility work forward." The infill drilling campaign has been awarded to Patagonia Drilling, which will mobilize two reverse circulation (" RC") drill rigs in stages to complete the program. This program aims to achieve better definition of the known mineralized bodies and assess the potential extension of zones where mineralization remains open, particularly in the areas of greatest interest as outlined in the most recent Preliminary Economic Assessment. Patagonia Drilling is a well-established company with extensive experience in mineral exploration across Argentina and successfully conducted the most recent drilling campaign at the Project. The second campaign, scheduled to begin immediately after the first, has been awarded to AGV Falcon Drilling. This phase will employ both RC and diamond drilling methods. AGV Falcon Drilling is a reputable company with a strong presence in Argentina and significant experience in supporting domestic mineral exploration. The objective of this campaign is to further delineate mineralization previously identified in satellite areas surrounding the Ivana Project, many of which have returned encouraging results from earlier drilling and require more detailed definition. Qualified Persons The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101. About Ivana Minerales S.A. Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner Abatare Spain, S.L.U. (" COAM") to advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the " Agreement") in which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. For additional details, please refer to the News Release dated February 27, 2025, as well as the Company's latest Financial Statements and MD&A available at About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Nikolaos Cacos" ______________________________________ Nikolaos Cacos, President, CEO and Director Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaign at the Ivana deposit. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned drilling program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
Cision Canada
14-05-2025
- Business
- Cision Canada
Blue Sky Uranium Expands Drill Plan to Advance the Ivana Uranium-Vanadium Project
TSX Venture Exchange: BSK Frankfurt Stock Exchange: MAL2 OTCQB Venture Market (OTC): BKUCF VANCOUVER, BC, May 14, 2025 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the"Company") is pleased to announce an update to the 2025 drill program to advance the Ivana Uranium-Vanadium deposit towards feasibility. The drill program is being planned and executed by Blue Sky's joint-venture operating company Ivana Minerales S.A., (" JVCO", a partnership with Abatare Spain, S.L.U.). The updated programs have led to a doubling of the original budget to US$6.0M, beyond the minimum annual commitment of US$3M for the first year stipulated in the joint-venture agreement. The new estimate includes US$4.4M for the infill drilling program and US$1.6M for a subsequent exploration drilling program. Nikolaos Cacos, President & CEO of the Company stated, "It is clear that JVCO has decided to move forward with an aggressive work plan aimed at achieving technical and economic feasibility in the shortest possible time. This supports the near-term goal for Ivana: building a strong asset for our shareholders that offers Argentina a potential domestic uranium supply for its nuclear energy generation." As previously reported, the next program is expected to include up to 6,000 metres of reverse circulation (" RC") drilling. The program has been refined to include approximately 330 drill holes with an estimated average depth of 18 metres as shown in Figure 1. This will include infill drilling to support the reclassification of some inferred mineral resources to indicated mineral resources and to improve the geological modeling to allow the design of the deposit to be adjusted for mining. A second phase RC drill program of up to 2,500 metres now been planned to follow the infill program. This program will test at least two new high-potential exploration targets surrounding Ivana. Drilling proposals are currently being evaluated, and the JVCO team is prioritizing the availability of equipment and the possibility of having two rigs drilling simultaneously to accelerate the work plan. The Company expects the drill program to begin this fiscal quarter once the final technical, legal and community requirements have been completed. In addition to planning the drill program, the JVCO technical team is continuing its process of evaluating engineering companies capable of advancing the other technical and economic aspects of the project toward feasibility. In adherence to the principles of both joint-venture participants, the winning bid will offer the highest standards of modern and sustainable mining, extensive local experience, the ability and assurance of meeting the proposed goals within the required timeline and a commitment to an appropriate budget. Qualified Persons The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101. About Ivana Minerales S.A. Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner Abatare Spain, S.L.U. (" COAM") to advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the " Agreement") in which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. For additional details, please refer to the News Release dated February 27, 2025, as well as the Company's latest Financial Statements & MD&A available at About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties 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. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Nikolaos Cacos" _____________________________________ Nikolaos Cacos, President, CEO and Director Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaign at the Ivana deposit and the timing thereof and the prospective nature of the "Bajo Huenteleo" target area. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned drilling program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law. SOURCE Blue Sky Uranium Corp.
