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Blue Sky Uranium Corp. (TSX-V: BSK) (the "Company") is pleased to announce that it has completed the acquisition of 100 per cent of the shares of Argentina Uranium Corp. With this acquisition, the Company now controls a 500,000-hectare land package in the Patagonia region of southern Argentina, making the Blue Sky one of the largest uranium project holders in the Country. Blue Sky has completed more than 3,000 square kilometres of radiometric and magnetic surveys over a portion of Argentina Uranium property holdings as part of a due diligence review (see Oct.3-2007 news release). This survey is the first of its kind ever conducted in the region and it has identified two large new mineralized systems that are associated with the radiometric anomalies. Surface follow-up by Blue Sky of "Santa Barbara" and "ANIT" systems has discovered abundant uranium-bearing petrified wood and visible yellow uranium mineralization on and near surface. Santa Barbara The Santa Barbara project contains three parallel anomalies, 11 km, 6.5 km and 5 km in length respectively and up to 1.5 km in width. Both the ANIT and Santa Barbara projects are in a "sandstone-hosted" environment, similar to the important Grants Uranium District in New Mexico, where, according to reports, more than 340 million pounds of uranium have been produced. A detailed exploration program on the Santa Barbara project commenced in Q1 2008 and to date 1500 radon gas station have been sampled covering 80 line kilometres. Spectrometer surveys have been completed over 34 line kilometres and 42 auger samples have been taken to a depth of 4 metres. Results from these surveys are being compiled and will be released when they become available. Continued surface work is anticipated to re-commence in August to delineate drill targets. ANIT The ANIT anomaly extends for more than 15 km in length and varies up to 2 km in width. The strength of the radiometric anomaly at ANIT closely resembles that of the Cerro Solo deposit in neighboring Chubut Province that contains approximately 10 million pounds U3O8. The footprint of the anomaly at ANIT is an order of magnitude larger than that of Cerro Solo. Detailed surface exploration on the ANIT project is anticipated to be conducted during Q3 and Q4 2008. All of the projects staked by Argentina Uranium were completed under the direction of Dr. Jorge Berizzo, one of the foremost authorities on uranium in Argentina. Dr. Berizzo has 22 years of experience in uranium exploration, including 14 years as senior exploration geologist for the Argentinean National Atomic Energy Commission (CNEA). He played a leading role in the discovery of the Cerro Solo uranium deposit (10.14 million pounds U at 0.3 per cent to 0.5 per cent U) in Chubut province. Summary of Transaction Blue Sky acquired the shares of Argentina Uranium Corp. in exchange for 8,295,000 common shares of Blue Sky. These shares are subject to escrow provisions and will be released over a three year period. Previously Blue Sky had been working to earn a 75% interest in the Santa Barbara and ANIT properties by completing a total of $5 million in exploration expenditures over a four-year period. As a result of this acquisition Blue Sky now owns 100% of both the Santa Barbara and ANIT properties. About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is dedicated to actively exploring uranium deposits in 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. |
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| aus der Diskussion: | Blue Sky Uranium: Fakten und News |
| Autor (Datum des Eintrages): | hoschmi (09.07.08 23:42:19) |
| Beitrag: | 67 von 101 (ID:34475887) |
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