Blue Sky Uranium Corp. has initiated a new exploration program at the Amarillo Grande Uranium-Vanadium Project in Río Negro Province, Argentina, featuring a 500-metre reverse circulation drill program across 23 priority holes at the Cuatro target.

The work is executed by Ivana Minerales S.A., funded by joint-venture partner Abatare Spain, S.L.U. pursuant to an agreement where COAM funds up to US$35 million in cumulative expenditures to acquire a 49.9% indirect equity interest.

The initial program is scheduled over twelve months. Alongside drilling at Cuatro, the team has planned surface exploration along 5 kilometres of the Ivana Corridor extending north from the Ivana Deposit. This brownfield work includes 10 line-kilometres of induced polarization geophysical surveys, a radon gas pilot survey using passive alpha-track emanometry, and lead-isotope geochemical sampling. Prior exploration at the project included 15,839 metres of drilling across 1,166 holes at the Ivana Deposit.

“This program allows us to simultaneously advance three complementary exploration opportunities at Amarillo Grande. Cuatro is our latest drill-ready target with discovery potential for the project.”

— Nikolaos Cacos, President & CEO

The regional greenfield component will evaluate western sector targets including Don Javier, Toro, Bajo de Valcheta West, and Ivana West using historical data integration, geological mapping, ground radiometric surveys, surface geochemistry, trenching, lead-isotope studies, emanometry, and shallow auger drilling.

Meanwhile, Blue Sky concluded Phase 2 diamond drilling at the Ivana Gateway target, comprising six holes totaling 392 metres. Drill hole AGIG-013 intersected 1.6 metres averaging 36 ppm $U_3O_8$ starting at 19.5 metres and 2 metres averaging 33 ppm $U_3O_8$ from 45.0 metres. The remaining five holes returned no significant intervals. This follows Phase 1 drilling at Ivana Gateway, which returned higher-grade uranium mineralization including 3.4 metres averaging 272 ppm $U_3O_8$ in drill hole AGIG-007.

The company also completed a six-hole diamond drilling program totaling 431 metres at the Ivana East target. The drilling did not confirm the original geological model, intersecting thick clay-rich units belonging to the Gran Bajo del Gualicho Formation rather than the sandstone facies of the lower Chichinales Formation that hosts mineralization at the Ivana Deposit. Uranium and vanadium mineralization proved discontinuous, and assays returned below reporting thresholds.

Read the full announcement: Blue Sky Uranium Initiates New Joint-Venture Exploration Program at Amarillo Grande