Blue Sky Uranium Corp. (TSXV: BSK) (OTC: BKUCF) has obtained promising assay results from the second tranche of results from the recently completed reverse circulation (RC) drilling programme at the Ivana Deposit within its wholly-owned Amarillo Grande Uranium-Vanadium Project (AGP) in Rio Negro Province, Argentina.
The assay results include 970 samples from 115 RC holes averaging 8.5m depth that tested areas of lower drill hole density at the margins of, and within, the western portion of the Ivana deposit; as well as testing the potential expansion of the deposit to the west.
Highlights of the new RC drill results include:
- 5m averaging 1,566ppm U3O8 and 243ppm V2O5 in hole AGI-568, located more than 1.5kilometres from the southwest margin of the current mineral resource
- including 7,027ppm U3O8 and 236ppm V2O5 over 1m
- 3m averaging 702ppm U3O8 and 1,119 ppm V2O5
- including 1,774ppm U3O8 and 1,981ppm V2O5 over 1 m in AGI-601
- 6m averaging 344ppm U3O8 and 242ppm V2O5
- including 933ppm U3O8 and 109ppm V2O5 over 1m in AGI-616
- 8m averaging 128ppm U3O8 and 141ppm V2O5
- including 562ppm U3O8 and 30ppm V2O5 over 1m in AGI-617
- 6m averaging 232ppm U3O8 and 43ppm V2O5
including 448ppm U3O8 and 16ppm V2O5 over 1m in AGI-629
“We are very pleased with these recent results, that indicate great success in all aspects of the programme,” President and CEO, Nikolaos Cacos, said.
“New strong uranium and vanadium mineralisation both within the deposit margins and in a large step-out hole confirm the potential to both expand and upgrade the Ivana deposit. We look forward to the final results of the programme that will help us plan the next steps in the process for this remarkable deposit and project.”
This second group of assay results from the current programme includes holes from step-out drilling targeting the uranium and vanadium mineralised zone to the west of the current Ivana mineral resource, initially discovered during the 2018 pit-sampling programme and reported in November 2018.
Of the 23 holes in this sector, six returned anomalous uranium (U3O8 >30ppm) including three holes with U3O8 intervals of 5 metres >100ppm U3O8, including 1 metre at 0.7% (7027 ppm) U3O8.
The other holes reported herein were drilled at the margins and within the western sector of the Ivana current mineral resource boundary and have confirmed the continuity of the mineralisation in a number of locations, as well as the potential expansion to the south from hole AGI-601, which intersected 3.0 m at 702 ppm U3O8 including 1metre at 0.17% (1774 ppm) U3O8.
Notably the majority of these reported holes returned intervals with vanadium grades higher than the average grade of the Ivana deposit, as reported in the current mineral resource estimate published on February 27, 2019. From the 115 holes reported at this time, 112 holes intercepted values ranging from 1m at +150ppm V2O5 up to 1m at 0.198% (1981 ppm) V2O5 in AGI-601.
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