News !!Finally...news. Good news at that. These are results without the reworked drills...I would expect that once results start rolling in with the reworked drills the stock price should reflect the expected higher grades.
Good size potential here. Once airborne surveys start there is a good chance Blue Sky will come up more prospective ground in this area.
Check out the new presentation....contains some excellent comparisons to put things into perspective for us.
https://www.blueskyuranium.com/i/pdf/ANIT-June-16.pdf
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June 16, 2010
Blue Sky's Drilling Returns 10 Meters of 0.036% U3O8 and Discovers Stacked Paleochannels
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Blue Sky Uranium Corp. (TSX-V: BSK, WKN: AOMKXP) is pleased to announce further results from aircore drilling on its ANIT uranium-vanadium project in Rio Negro Province, Argentina. In the thickest intercept drilled to date, hole AN-85 averaged 10 meters at 0.036% U3O8 and 0.045% V2O5, including 6 meters at 0.056% U3O8 and 0.047% V2O5. Overall at ANIT of 97 drill holes completed, 81 encountered mineralization above cut-off grade with weighted average of intervals from the mineralized holes of 2.6 meters thickness at 0.03% U3O8 and 0.075% V2O5. In addition, evidence of stacked mineralized intervals up to 29 meters below surface were detected at ANIT Central.
"Blue Sky is only at the very beginning of its exploration efforts at the ANIT project and within the region. We are pleased that at such an early stage the initial results compare very favorably to known paleochannel deposits in Namibia and Western Australia. To date the Company has only received results from 5.2 km within a 15 km radiometric anomaly and there are over a dozen radon gas targets that have yet to be tested within the project. Our objectives are to rapidly advance the ANIT project and to evaluate the significant regional potential within the district." Said Mr. Sean Hurd, President & C.E.O.
Click here for ANIT presentation
Table 1 - Comparison chart for known paleochannel deposits
| Project & Location |
Grade U3O8 |
Rock Type |
Thickness |
Length
(approx.) |
Width
(approx.) |
Resource |
ANIT
(Argentina) |
0.03 % |
Sand and gravel1 |
2.6 meters
average |
5.5 km tested to date |
unknown |
unknown |
*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 and grades 0.03 %.
Drilling is continuing at ANIT since a recent break after drill hole AN-97 to modify the drill cyclone and switch to larger diameter (HQ) drill rods to optimize recovery of fine sample material and sample size. The results reported to date are not from the modified drill rig. A further 2,500m is planned to test the ANIT East target, additional regional targets at the ANIT licenses defined by anomalous radon gas and surface uranium geochemistry and further sites within the ANIT West and Central areas. Where the drill-defined mineralized interval is within 6m of surface, additional excavator sample pits are being completed to augment drill data.
To date at ANIT all uranium vanadium mineralization discovered is hosted within un-consolidated to loosely consolidated sand, gravels, gypsum and clay sediments, predominantly occurring within 6m of the surface. If the project is advanced to the mining stage, drilling and blasting will likely not be required and ore crushing will be minimal. Further it is probable through simple sieving or washing the uranium mineralization can be significantly upgraded. Blue Sky plans to commence preliminary metallurgical testing over the next few months.
ANIT Aircore Drilling
Drilling to date has been within or adjacent to the ANIT West and Central areas covering 5.2km of strike length of the 15km long airborne U channel anomaly at ANIT. Blue Sky has completed 97 drill holes in 2,463 meters of a planned 5,000 meter drilling program. Assay results from 1,244 meters in 51 holes of the program were released by the Company on May 18th 2010. Assays for the remaining 46 holes (1,219m) have been received and are the subject of this press release. Of 46 new holes reported 40 holes intersected mineralization above cut-off grade*. Highlights include hole AN-85 that intersected 10m averaging 0.036% U3O8 and 0.045% V2O5, including 6 meters at 0.056% U3O8 and 0.047% V2O5 . Of the 40 mineralized holes reported, 5 holes encountered a second mineralized layer between 7 and 29 meters depth with average thickness of 1.4 meters at 0.012% U3O8 and 0.063% V2O5 (see table 2). Further deep drilling is planned to define the economic potential of these stacked horizons. Overall at ANIT of 97 drill holes completed, 81 encountered mineralization above cut-off grade with weighted average of intervals from the mineralized holes of 2.6 meters thickness at 0.030% U3O8 and 0.075% V2O5. |