Ivana deposit is located within the Amarillo Grande project, located in Rio Negro province.
By Panorama Minero
Blue Sky Uranium Corp. announced an update to the 2025 drill program to advance the Ivana Uranium-Vanadium deposit towards feasibility. The drill program is being planned and executed by Blue Sky’s joint-venture operating company Ivana Minerales S.A., (“JVCO”, a partnership with Abatare Spain, S.L.U.).
The updated programs have led to a doubling of the original budget to US$6.0M, beyond the minimum annual commitment of US$3M for the first year stipulated in the joint-venture agreement. The new estimate includes US$4.4M for the infill drilling program and US$1.6M for a subsequent exploration drilling program.
Nikolaos Cacos, President & CEO of the Company stated, “It is clear that JVCO has decided to move forward with an aggressive work plan aimed at achieving technical and economic feasibility in the shortest possible time. This supports the near-term goal for Ivana: building a strong asset for our shareholders that offers Argentina a potential domestic uranium supply for its nuclear energy generation.”
As previously reported, the next program is expected to include up to 6,000 metres of reverse circulation (“RC”) drilling. The program has been refined to include approximately 330 drill holes with an estimated average depth of 18 metres. This will include infill drilling to support the reclassification of some inferred mineral resources to indicated mineral resources and to improve the geological modeling to allow the design of the deposit to be adjusted for mining. A second phase RC drill program of up to 2,500 metres now been planned to follow the infill program. This program will test at least two new high-potential exploration targets surrounding Ivana.
Drilling proposals are currently being evaluated, and the JVCO team is prioritizing the availability of equipment and the possibility of having two rigs drilling simultaneously to accelerate the work plan.
The Company expects the drill program to begin this fiscal quarter once the final technical, legal and community requirements have been completed.
In addition to planning the drill program, the JVCO technical team is continuing its process of evaluating engineering companies capable of advancing the other technical and economic aspects of the project toward feasibility. In adherence to the principles of both joint-venture participants, the winning bid will offer the highest standards of modern and sustainable mining, extensive local experience, the ability and assurance of meeting the proposed goals within the required timeline and a commitment to an appropriate budget.
