Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF) announced on Monday (June 17) that it is expanding its exploration portfolio by acquiring two new projects that are prospective for uranium in Argentina’s Neuquén Basin.
The company’s cornerstone asset is the Amarillo Grande project (AGP), where work continues to progress.
“Within our flagship AGP we have the Ivana deposit moving into the pre-feasibility stage, and multiple established exploration targets that are ready for the next steps,” said CEO and President Nikolaos Cacos in a press release.
“So it is time for us to look to expand our longer-term project pipeline, particularly with the strong support we are seeing for the uranium market. Similar to the surface mining targets at AGP, ISR-amenable uranium deposits provide the opportunity for low-cost, low-impact production and the potential for shorter development timelines,” he added.
The company’s new acquisitions, the Corcovo and Chihuidos projects, add nearly 80,000 hectares to its exploration territory. The properties were chosen for their potential to host uranium deposits amenable to in-situ recovery (ISR).
The Corcovo project, located in Argentina’s Mendoza province, covers approximately 20,000 hectares. Initially identified by the National Atomic Energy Commission (CNEA), the area is known for its uranium exploration potential.
According to Blue Sky, Corcovo’s geological conditions are also favorable, with uranium radiometric anomalies detected at depth in oil and gas wells suggesting significant ISR potential. For its part, the Chihuidos project spans around 60,000 hectares and was recognized by CNEA in the 1960s and 1970s. It was previously explored in the early 2000s.
Blue Sky has already initiated the permitting process for field programs at both projects. Concurrently, the company is updating and verifying historical data to identify and prioritize prospective exploration targets. This includes analyzing publicly available borehole surveys and seismic 2D/3D surveys from historic oil and gas exploration.
With the acquisitions, the company now controls over 480,000 hectares across the Rio Negro, Chubut, Neuquén and Mendoza provinces. AGP remains its primary focus, and has a vanadium credit in addition to holding uranium.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.