Blue Sky Uranium Commences Diamond Drilling at Ivana East Target, 10 kilometres Northeast of the Ivana Uranium Deposit within the Amarillo Grande District, Argentina
Advancing uranium projects in Argentina
- On April 7 2026 Blue Sky Uranium Corp. and its JV partner Ivana Minerales S.A. commenced a ~1,200 metre diamond drilling program at the Ivana East target, located ~10 km northeast of the Ivana uranium‑vanadium deposit within the Amarillo Grande Project in Argentina.
- The program is the first systematic DDH testing of Ivana East, targeting shallow uranium‑vanadium mineralization along the Chichinales Formation unconformity.
- Prior drilling at the nearby Ivana Gateway target (completed February 2026) yielded uranium intercepts; assay results from that program are expected by end‑April 2026.
- The JV structure gives COAM (Abatare Spain SLU) an exclusive call option to acquire up to 49.9% indirect equity after funding US$35 M, with a potential increase to 80% upon further financing of up to US$160 M.
- No assay results are yet available; the announcement is procedural – the start of drilling.
- The news represents an extension of ongoing exploration rather than a material breakthrough. Historical flow shows:
- Nov 2025 GAP analysis (Material‑Positive) outlined a clear roadmap to feasibility.
- Feb 2026 Ivana Gateway drilling returned positive uranium intercepts (Routine‑Positive).
- Mar 2026 hydrogeological study initiation (Routine‑Positive).
- The Ivana East program follows the same pattern: early‑stage drilling with results pending. It does not yet alter resource estimates, economics, or timelines in a quantifiable way.
- Therefore the impact is routine and positive – it maintains momentum but does not exceed expectations sufficiently to be deemed material.
Blue Sky Uranium Corp. is a junior exploration company focused on uranium‑vanadium projects in Argentina. Its flagship asset is the Amarillo Grande Project in Río Negro Province, which hosts the Ivana uranium‑vanadium deposit. The Ivana deposit has an existing NI 43‑101 resource (indicated 19.7 Mt @ 0.039% U₃O₈ & inferred 5.6 Mt @ 0.031% U₃O₈) and a PEA showing an 11‑year mine life, US$159.7 M capital cost, and an after‑tax NPV8% of US$227.7 M. The company advances the project through its joint venture Ivana Minerales S.A. (IMSA), a 50/50 partnership with Abatare Spain SLU (COAM), which holds an earn‑in right to fund up to US$35 M for a 49.9% indirect stake, expandable to 80% with additional financing.