NEWS RELEASE
Wednesday, September 29, 2010
Blue
Sky Extends Uranium Mineralization in Phase II drilling at ANIT
Blue Sky Uranium Corp. (TSX-V: BSK, WKN: AOMKXP) is pleased to announce
complete results from Phase II aircore drilling at its ANIT project in
Rio Negro Province, Argentina. The Phase II program, totaling 2,581m in
107 holes, was designed to test for extensions of the ANIT West and
Central zones as well as to provide a preliminary evaluation of ANIT
East, radon gas anomalies and buried targets (Map 1). This work,
combined with the Phase I drilling (May 18th and June 16th 2010 News
Releases) brings the total drilling to date on the ANIT area to 5,044m in
204 holes.
Results from the Phase II drilling on the ANIT West and Central zones are
presented in Table 1 below. Highlights include ANIT West hole AN174 that
averaged 4m at 0.078% U3O8 and 0.107% V2O5, and ANIT Central hole AN168
that averaged 7m at 0.037% U3O8 and 0.028% V2O5. This additional drilling
in the main ANIT area provides further definition to strongly mineralized
and thicker portions of the mineralized paleochannel at ANIT.
The advantage of the ANIT deposit style is the potential low cost of
mining at surface and the potential to up-grade the deposit by simple
physical separation of the carnotite uranium mineralization from the sand
and gravel host. Since the mineralization is hosted by the fine sand
component and non-mineralized gravel comprises a significant percentage
by weight, removal of the coarse material by simple screening process
could significantly increase the grade of the material prior to
processing. This can have very positive effects on processing costs and
also may significantly lower the economic cut off grade.
Blue Sky has recently commenced detailed sampling of the ANIT West and
Central areas using a large excavator capable of reaching to 6m depth.
The excavator pits will be hand sampled by Blue Sky technical staff,
giving excellent geological control and accurate sample collection. At
present the majority of mineralization discovered is in the 0-6m depth
range. The Company has also retained Independent Metallurgical Operations
PTY LTD of Australia (IMO) to carry out beneficiation testing and basic
metallurgical testing of the ANIT uranium-vanadium deposit.
Table 1. Phase
II Aircore Results from ANIT West and Central*
HOLE ID
|
FROM
|
TO
|
Meters
|
U3O8
|
V2O5
|
Target
|
AN_167
|
0
|
5
|
5
|
0.042
|
0.040
|
Anit Central
|
AN_168
|
0
|
7
|
7
|
0.037
|
0.028
|
Anit Central
|
AN_169
|
0
|
2
|
2
|
0.008
|
0.050
|
South Ext, Anit West
|
AN_170
|
0
|
2
|
2
|
0.024
|
0.056
|
South Ext, Anit West
|
AN_171
|
0
|
3
|
3
|
0.037
|
0.101
|
Anit West
|
AN_172
|
0
|
4
|
4
|
0.046
|
0.085
|
Anit West
|
AN_173
|
0
|
4
|
4
|
0.050
|
0.094
|
Anit West
|
AN_174
|
0
|
4
|
4
|
0.078
|
0.107
|
Anit West
|
AN_179
|
1
|
2
|
1
|
0.007
|
0.178
|
South Ext, Anit West
|
AN_180
|
1
|
2
|
1
|
0.006
|
0.079
|
South Ext, Anit West
|
AN_181
|
0
|
2
|
2
|
0.053
|
0.117
|
North Ext, Anit West
|
AN_182
|
0
|
4
|
4
|
0.039
|
0.195
|
North Ext, Anit West
|
AN_183
|
0
|
1
|
1
|
0.013
|
0.070
|
North Ext, Anit West
|
AN_184
|
0
|
2
|
2
|
0.017
|
0.131
|
Anit West
|
AN_185
|
0
|
4
|
4
|
0.064
|
0.189
|
Anit West
|
AN_186
|
0
|
3
|
3
|
0.071
|
0.153
|
Anit West
|
AN_187
|
0
|
2
|
2
|
0.028
|
0.146
|
Anit West
|
AN_189
|
0
|
4
|
4
|
0.036
|
0.258
|
Anit West
|
AN_190
|
0
|
2
|
2
|
0.013
|
0.092
|
Anit West
|
AN_191
|
1
|
2
|
1
|
0.006
|
0.170
|
Anit West
|
AN_198
|
1
|
2
|
1
|
0.012
|
0.047
|
South Ext, Anit West
|
*21 holes of 26 drilled in ANIT
West and Central areas exceeded a cut off grade of 0.006 % U3O8 (50ppm U)
over 1m.
Away from the main paleochannel large areas of lower grade, but
potentially economic mineralization, have been discovered at ANIT East as
well as 200m north and 400m south of the ANIT Central zone (See Table 2).
Of 8 regional radon targets drilled 7 had no significant results,
however, 1.65 km north of ANIT hole AN124 cut 1m at 0.017% U3O8 and
0.080% V2O5 at 8-9m below cover.
Table 2. Phase
II Aircore Results from ANIT East and Regional Targets*
HOLE ID
|
FROM
|
TO
|
Meters
|
U3O8
|
V2O5
|
Target
|
AN_124
|
8
|
9
|
1
|
0.017
|
0.080
|
Anit North, radon.
|
AN_125
|
24
|
25
|
1
|
0.017
|
0.076
|
Anit North, radon.
|
AN_126
|
0
|
1
|
1
|
0.008
|
0.021
|
Anit East
|
AN(HQ)_127
|
0
|
1
|
1
|
0.007
|
0.029
|
Anit East
|
AN_128
|
0
|
1
|
1
|
0.015
|
0.024
|
Anit East
|
AN_131
|
0
|
3
|
3
|
0.011
|
0.039
|
Anit East
|
AN_132
|
1
|
3
|
2
|
0.009
|
0.057
|
Anit East
|
AN_133
|
0
|
2
|
2
|
0.012
|
0.043
|
Anit East
|
AN_134
|
0
|
2
|
2
|
0.009
|
0.021
|
Anit East
|
AN_135
|
0
|
3
|
3
|
0.006
|
0.031
|
Anit East
|
AN_136
|
1
|
2
|
1
|
0.028
|
0.039
|
Anit East
|
AN_137
|
0
|
1
|
1
|
0.006
|
0.024
|
Anit East
|
AN(HQ)_140
|
0
|
1
|
1
|
0.008
|
0.091
|
Anit East
|
AN(N)_140
|
0
|
2
|
2
|
0.010
|
0.093
|
Anit East
|
AN(HQ)_141
|
0
|
1
|
1
|
0.006
|
0.080
|
Anit East
|
AN(HQ)_142
|
0
|
2
|
2
|
0.007
|
0.045
|
Anit East
|
AN_148
|
1
|
2
|
1
|
0.020
|
0.064
|
Anit East
|
AN_149
|
1
|
2
|
1
|
0.028
|
0.064
|
Anit East
|
AN_161
|
1
|
5
|
4
|
0.020
|
0.061
|
Anit East
|
AN_162
|
0
|
4
|
4
|
0.028
|
0.075
|
Anit East
|
AN_163
|
1
|
3
|
2
|
0.015
|
0.042
|
Anit East
|
AN_165
|
0
|
3
|
3
|
0.015
|
0.036
|
Anit East
|
*22holes of 81 drilled in ANIT
East and other Target areas exceeded a cut off grade of 0.006 % U3O8
(50ppm U) over 1m.
In the Phase II aircore drilling the addition of a second cyclone and
careful attention to dust suppression resulted in much improved recoveries
compared with Phase I drilling. Blue Sky considers aircore drilling a
cost effective and fast method of locating mineralization, but not an
optimal sampling method as the quantitative measurement of very fine clay
size carnotite uranium mineralization (hosted unbound in dry loose sands
and gravels) with conventional drilling methods has proved difficult as
experienced by Blue Sky's team and other companies working on similar
deposits in Africa and Western Australia. However, the benefit of the mineralization
being located in the fine lose material and not bound within sand and
gravel pebbles is in the potential to upgrade the mineralization as
described on page one of this news release.
Table 3 -
Comparison chart for known paleochannel deposits
Project & Location
|
Grade U3O8
|
Rock Type
|
Thickness
|
Length
(approx.)
|
Width
(approx.)
|
Resource
|
*Trekkopje and Klien
Trekkopje
(Namibia)
|
0.013 %
|
Mostly Hard Rock2
|
80% less than 15 meters below
surface
|
14 km
|
3 km
|
139.2 M lbs.
(inferred)
|
Langer Heinrich
(Namibia)
|
0.06 %
|
Mostly Hard Rock3
|
1 to 30 meters
|
15 km
|
50 to 1,100 meters
|
160 M lbs
(inferred)
|
Lake Maitland
(Western Australia)
|
0.033 %
|
Sand and gravel4
|
1.7 meters
average
|
5 km
|
200 to 2,000 meters
|
23.7 M lbs (inferred)
|
* AREVA
purchased "Trekkopje and Klein Trekkopje" by paying USD $2.5
Billion to acquire Uramin Inc. The project is expected to be in
production in 2010, with full production in 2011.Trekkopje grades 0.013 %
U3O8 and is hosted in mostly hard rock where 80% requires drilling and
blasting. In contrast, Blue Sky's "ANIT" is hosted in sand and
gravel.
Analyses of
samples reported herein were performed by Alex Stewart Assayers, in
Mendoza, Argentina, an internationally recognized analytical services
provider, by means of Inductively Coupled Plasma Mass Spectrometry
following a four acid digestion (ICP-AR). Blank, duplicate, and standard
samples were inserted into the sample sequence sent to the lab for
quality assurance/quality control (QA/QC) purposes. In total, 144 quality
control samples (15 % of 969 total) were analyzed. Blue Sky detected no
significant QA/QC issues during review of the data. Note that 10,000 ppm
= 1% and 1% = 1.1792% U3O8, 1% = 1.785% V2O5. All holes were drilled
using NQ size aircore, unless stated in table 1 above HQ size aircore.
The technical information contained in this release has been prepared by
Bruce Smith, AusIMM, Blue Sky Uranium Exploration Manager and a Qualified
Person as defined by National Instrument 43-101.
About Blue Sky Uranium Corp.
Blue Sky has, through its membership with Grosso Group Management, has
signed and agreement in principle for a strategic alliance with the
Government of Rio Negro for the purpose of jointly exploring the
potential for commercial mining activity to develop mining projects that
provide for the acquisition, exploration and exploitation of polymetallic
and energy related mineral deposits. The Company is dedicated to actively
exploring the Patagonia region of Argentina. Experienced management and technical
members, who foster relationships with a vast amount of international
industry contacts, lead the exploration team on the search for quality
resource opportunities. Blue Sky is a member of the Grosso Group, a
resource management group with over 15 years experience in exploring
South America.
ON BEHALF OF THE BOARD
"Sean Hurd"
Mr. Sean Hurd, President & CEO
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the
adequacy or the accuracy of this release. Cautionary Note to US
Investors: This news release may contain information about adjacent
properties on which we have no right to explore or mine. 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. 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.
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