Blue Sky Uranium has announced the acquisition of two new uranium projects in Argentina, encompassing nearly 80,000 hectares. This strategic move is expected to significantly bolster the company’s medium to long-term prospects for discovering additional uranium mineral resources.
According to CEO Niko Cacos, these projects are prospective for uranium deposits that are amenable to In Situ Recovery (ISR), a method favored for its lower environmental impact and cost-effectiveness. The company has an option to earn a 100% interest in the Corcovo project, which benefits from new mining promotion initiatives by the provincial government. The National Atomic Energy Commission has identified significant uranium exploration potential in this area, with radiometric anomalies detected at depth in oil and gas wells. These anomalies indicate geological conditions similar to those found in ISR uranium deposits, suggesting promising potential for economically extractable uranium resources.
The second project, Chihuidos, has a rich exploration history. Initially recognized by the National Atomic Energy Commission (CNEA) in the 1960s and 1970s, it was more recently explored by Cameco Corporation in a joint venture with Calypso Uranium Corporation in the early 2000s. Chihuidos is situated on a topographic high, surrounded by airborne radiometric anomalies and surface uranium occurrences, indicating a strong potential for a preserved uranium mineralized system at depth. This historical exploration data enhances the project's prospects, making it a valuable addition to Blue Sky Uranium's portfolio.
To advance these projects, Blue Sky Uranium has initiated the permitting process for field programs. Concurrently, the company is focused on identifying and prioritizing prospective targets for future exploration and drill testing. This involves updating and verifying the existing database for both projects, which includes publicly available borehole surveys and seismic 2D/3D surveys from historical oil and gas exploration. These comprehensive data sets will help refine exploration strategies and target the most promising areas for drilling.
These acquisitions are significant as they align with the global shift towards cleaner energy sources. Uranium, as a key component in nuclear energy, offers a low-carbon alternative to fossil fuels. The successful development of these projects could contribute to the global supply of uranium, supporting the growing demand for sustainable energy solutions. Moreover, the use of ISR methods aligns with increasing environmental and regulatory demands for more sustainable mining practices.
