Blue Sky Reports Uranium Mineralization in Initial Drilling at Ivana Gateway Target
Blue Sky validates exploration model at Ivana Gateway as JV partner funds aggressive path to feasibility
The most recent news (February 24, 2026) reports initial drilling results from the Ivana Gateway target, located 4.7km northwest of the main Ivana Deposit. Drilling confirmed uranium mineralization in two holes (3.4m @ 272 ppm $U_3O_8$ and 1.5m @ 302 ppm $U_3O_8$). These results are significant because they confirm the geological model of a "roll-front" system extending beyond the known deposit. Crucially, this work is being funded by the joint venture company (JVCO) established with Corporacion America Group (COAM), meaning Blue Sky is exploring new targets without immediate direct capital outlay for the drilling.
The impact is Routine - Positive. While the grades reported (272-302 ppm) are relatively low compared to the high-grade core of the Ivana deposit (which can exceed 4,000 ppm), they are "discovery" holes that prove the mineralized system is alive and well nearly 5km away from the main resource. - Validation: It validates the use of IP geophysics to find "blind" mineralization. - Strategic Value: It supports the "cluster" development model where multiple satellite pits could feed a central processing plant. - Financial De-risking: The news confirms that the COAM earn-in agreement is active and functional, with the partner funding the $6M USD exploration/feasibility budget.
Blue Sky Uranium is a junior explorer focused on Argentina. Its flagship is the Amarillo Grande Project in Rio Negro Province. The project is unique due to its "surficial" nature (mineralization starts at surface in poorly consolidated sands), which suggests low-cost open-pit mining and simple processing. The Ivana Deposit is the core asset, with a PEA (2023/2024) showing an 11-year mine life.