VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 23, 2016) - 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."
For additional details on the project and properties, please see the Company's website: www.blueskyuranium.com
The contents of this news release have been reviewed and approved by David Terry, Ph.D., P.Geo. Dr. Terry is a Director of the Company and 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 surficial uranium deposits into low-cost producers. Blue Sky holds has the exclusive right to over 428,000 hectares of property in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be among the first domestic suppliers of uranium to the growing Argentine market. 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, 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 including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. 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 Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.