Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
VANCOUVER, BC , June 4, 2025 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) , ("Blue Sky" or the "Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR") high potential target in Mendoza Province , Argentina . The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1).
Nikolaos Cacos , President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA") and confirm Corcovo as a promising new target area in our portfolio."
The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development.
Highlights of the Technical Review:
Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including:
Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date
Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon
Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm.
Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm.
*depths indicated are metres below drilling surface
The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m ) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres.
A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1, grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes.
Deposit Model
The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( www.cameco.com 06/02/2025).
Planned Activities and Data Acquisition
The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing.
Drill Hole Data Summary
Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq
(Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.)
Hole ID
Year
From (m)
To (m)
GR (API)
Ueq (ppm)
Thickness (m)
Horizon
JCP-1001
2007
576
577
416
39
0.8
Centenario Edge
584
594
389
36
9.7
Centenario Core
598
605
366
32
7.8
Centenario Core
570
571
349
28
0.5
Centenario Edge
611
611
339
31
0.5
Centenario Core
JCP-1006
2008
569
579
743
65
10.1
Centenario Core
443
445
397
36
1.7
Rayoso Channel
542
543
384
35
1.1
Centenario Core
JCP-1004
2008
588
589
679
69
1.1
Centenario Core
JCP-1002
2007
559
564
823
66
5.0
Centenario Core
569
569
300
19
0.2
Centenario Core
CoHS.a-2066
2018
637
638
749
70
0.8
Centenario Core
657
657
403
36
0.8
Centenario Core
CoHS.a-2016
2013
569
570
954
78
1.4
Centenario Core
CoHS-2026
2009
328
330
787
76
1.7
Neuquén
576
577
417
31
0.8
Centenario Core
CoHS-2027
2015
572
573
625
60
1.5
Centenario Core
430
433
324
27
3.5
Rayoso Channel
314
318
305
24
3.5
Neuquén
CoH.a-4
2007
548
549
491
49
0.8
Centenario Edge
488
490
422
37
1.7
Rayoso Channel
603
604
343
25
0.6
Centenario Core
612
613
329
31
0.5
Centenario Core
749
750
327
25
0.6
CoHS.a-1021
2011
575
576
549
54
1.0
Centenario Core
CoHS.a-2034
2016
436
437
416
38
1.2
Rayoso Channel
567
567
357
20
0.3
Centenario Core
CoHS.a-2064
2018
563
568
367
32
4.7
Centenario Core
CoHS.ia-2009
2012
575
578
327
24
2.6
Centenario Core
CoHS.ia-2015
2013
568
568
304
24
0.2
Centenario Core
CoHS-2010
2012
577
578
439
41
0.6
Centenario Core
CoHS-2013
2012
573
574
354
31
0.5
Centenario Core
CoHS-2019
2013
578
579
721
60
1.2
Centenario Core
570
572
709
65
2.1
Centenario Core
CoHS-2022
2014
471
471
359
24
0.5
Centenario Core
CoHS-2028
2015
578
578
362
24
0.3
Centenario Core
CoHS-2029
2015
574
575
421
31
1.1
Centenario Core
ECo.a-3
2006
575
578
304
24
2.9
Centenario Core
ECo.a-5
2006
588
589
304
24
1.1
Centenario Core
CoHS.a-2001
2011
573
573
345
26
0.5
Centenario Core
CoHS.a-2068
2018
591
592
427
37
0.6
Centenario Core
CoHS.a-2014
2013
577
578
337
30
0.6
Centenario Core
CoHS.a-1009
2009
703
703
304
24
0.2
Centenario Core
CoHS.a-1018
2010
428
429
517
44
1.1
Rayoso Channel
571
571
349
32
0.5
Centenario Core
CoHS.a-2004
2011
570
571
446
45
1.3
Centenario Core
579
582
314
24
3.1
Centenario Core
CoHS.a-2007
2012
573
574
367
33
0.6
Centenario Core
CoHS.a-2012
2012
576
577
438
38
0.6
Centenario Core
441
442
375
34
0.8
Rayoso Channel
Note: Ueq is a length weighted average over the reported interval.
Methodology and QA/QC
Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person.
Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content.
Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs.
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi , CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina . The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina . The Company's Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
______________________________________
Nikolaos Cacos , President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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