Blue Sky Uranium Announces Start-Up of New JV Company to Advance the Ivana Uranium-Vanadium Deposit
Blue Sky Uranium (BKUCF) has established a new joint venture company, Ivana Minerales S.A., with partner Abatare Spain to advance the Ivana Uranium-Vanadium deposit in Argentina's Rio Negro Province. Luis Leandro Rivera, former Senior VP of AngloGold Ashanti's Latin American region, has been appointed as General Manager.
The JV company is preparing for a 6,000-metre exploration drilling program with approximately 315 shallow holes, including the previously unexplored Bajo Huenteleo target. Under the agreement, COAM will fund US$35 million to acquire a 49.9% indirect equity interest, with the option to increase to 80% by completing a feasibility study and funding up to US$160 million for project development and construction.
The new operating structure leverages support from Corporación América affiliates for administrative functions, while maintaining technical continuity with existing field personnel and geologists joining the JV company.
Blue Sky Uranium (BKUCF) ha costituito una nuova società in joint venture, Ivana Minerales S.A., con il partner Abatare Spain per sviluppare il deposito di Uranio-Vanadio di Ivana nella provincia di Rio Negro in Argentina. Luis Leandro Rivera, ex Vicepresidente Senior della regione latinoamericana di AngloGold Ashanti, è stato nominato Direttore Generale.
La società JV si sta preparando per un programma di perforazione esplorativa di 6.000 metri con circa 315 fori superficiali, incluso l'obiettivo precedentemente inesplorato di Bajo Huenteleo. In base all'accordo, COAM finanzierà 35 milioni di dollari USA per acquisire una partecipazione azionaria indiretta del 49,9%, con l'opzione di aumentare fino all'80% completando uno studio di fattibilità e finanziando fino a 160 milioni di dollari USA per lo sviluppo e la costruzione del progetto.
La nuova struttura operativa sfrutta il supporto delle affiliate di Corporación América per le funzioni amministrative, mantenendo al contempo la continuità tecnica con il personale di campo esistente e i geologi che si uniscono alla società JV.
Blue Sky Uranium (BKUCF) ha establecido una nueva empresa conjunta, Ivana Minerales S.A., con el socio Abatare Spain para avanzar en el depósito de Uranio-Vanadio de Ivana en la provincia de Río Negro, Argentina. Luis Leandro Rivera, ex Vicepresidente Senior de la región latinoamericana de AngloGold Ashanti, ha sido nombrado Gerente General.
La empresa JV se está preparando para un programa de perforación exploratoria de 6,000 metros con aproximadamente 315 pozos superficiales, incluyendo el objetivo previamente inexplorado de Bajo Huenteleo. Según el acuerdo, COAM financiará 35 millones de dólares estadounidenses para adquirir un interés de capital indirecto del 49.9%, con la opción de aumentar al 80% al completar un estudio de viabilidad y financiar hasta 160 millones de dólares estadounidenses para el desarrollo y la construcción del proyecto.
La nueva estructura operativa aprovecha el apoyo de las afiliadas de Corporación América para las funciones administrativas, mientras mantiene la continuidad técnica con el personal de campo existente y geólogos que se unen a la empresa JV.
Blue Sky Uranium (BKUCF)는 파트너 Abatare Spain과 함께 아르헨티나 리오 네그로 주의 이바나 우라늄-바나듐 광산을 발전시키기 위해 새로운 합작 회사인 Ivana Minerales S.A.를 설립했습니다. 루이스 레안드로 리베라는 앵글로골드 아샨티의 라틴 아메리카 지역 전 부사장으로, 총괄 매니저로 임명되었습니다.
합작 회사는 약 315개의 얕은 구멍을 포함한 6,000미터 탐사 드릴링 프로그램을 준비하고 있으며, 이전에 탐사되지 않았던 바호 후엔텔레오 목표도 포함됩니다. 협약에 따라 COAM은 3,500만 달러를 자금을 지원하여 49.9%의 간접 지분을 확보하고, 타당성 조사를 완료하고 프로젝트 개발 및 건설을 위해 최대 1억 6천만 달러를 지원하여 80%로 증가할 수 있는 옵션을 갖습니다.
새로운 운영 구조는 행정 기능을 위해 Corporación América의 계열사로부터 지원을 활용하면서, 기존 현장 인력 및 합작 회사에 합류하는 지질학자들과의 기술적 연속성을 유지합니다.
Blue Sky Uranium (BKUCF) a établi une nouvelle société de coentreprise, Ivana Minerales S.A., avec le partenaire Abatare Spain pour faire progresser le gisement d'Uranium-Vanadium d'Ivana dans la province de Río Negro en Argentine. Luis Leandro Rivera, ancien vice-président senior de la région Amérique latine d'AngloGold Ashanti, a été nommé directeur général.
La société JV se prépare à un programme de forage d'exploration de 6 000 mètres avec environ 315 trous peu profonds, y compris la cible de Bajo Huenteleo, qui n'a pas encore été explorée. Selon l'accord, COAM financera 35 millions de dollars US pour acquérir un intérêt en actions indirect de 49,9%, avec la possibilité d'augmenter à 80% en complétant une étude de faisabilité et en finançant jusqu'à 160 millions de dollars US pour le développement et la construction du projet.
La nouvelle structure opérationnelle tire parti du soutien des filiales de Corporación América pour les fonctions administratives, tout en maintenant la continuité technique avec le personnel de terrain existant et les géologues rejoignant la société JV.
Blue Sky Uranium (BKUCF) hat ein neues Joint Venture-Unternehmen, Ivana Minerales S.A., mit dem Partner Abatare Spain gegründet, um das Uran-Vanadium-Vorkommen in der Provinz Río Negro, Argentinien, voranzutreiben. Luis Leandro Rivera, ehemaliger Senior VP der lateinamerikanischen Region von AngloGold Ashanti, wurde zum Geschäftsführer ernannt.
Das JV-Unternehmen bereitet ein 6.000 Meter umfassendes Erkundungsbohrprogramm mit etwa 315 flachen Bohrlöchern vor, einschließlich des zuvor unerforschten Ziels Bajo Huenteleo. Laut Vereinbarung wird COAM 35 Millionen US-Dollar finanzieren, um einen indirekten Anteil von 49,9% zu erwerben, mit der Option, auf 80% zu erhöhen, indem ein Machbarkeitsstudie abgeschlossen und bis zu 160 Millionen US-Dollar für die Projektentwicklung und den Bau bereitgestellt werden.
Die neue Betriebsstruktur nutzt die Unterstützung von Tochtergesellschaften der Corporación América für administrative Funktionen und gewährleistet gleichzeitig die technische Kontinuität mit dem bestehenden Feldpersonal und Geologen, die dem JV-Unternehmen beitreten.
- Secured significant funding commitment of up to US$160 million for project development
- Experienced mining executive appointed as General Manager
- Cost-effective operating structure established through partner support
- Immediate commencement of 6,000-metre exploration program
- Potential significant dilution of ownership stake up to 80% to JV partner
- Project still in early stages requiring feasibility study completion
TSX Venture Exchange (TSX-V): BSK
Frankfurt Stock Exchange (FSE): MAL2
OTCQB Venture Market (OTC): BKUCF
Nikolaos Cacos, President & CEO of the Company stated, "We are very pleased to welcome a mining professional of Mr. Rivera's caliber to steer the team in
JVCO is currently vetting engineering groups to support the planned prefeasibility/feasibility study for the Ivana deposit and expects to establish new contracts in the following months. At the same time, the new company is initiating an exploration drilling program to test for new resources. The planned campaign includes up to 6,000 metres of Reverse Circulation ("RC") drilling in approximately 315 shallow holes. The drilling will step out up to two kilometers surrounding the Ivana deposit and will include testing a previously undrilled target area called "Bajo Huenteleo". This target is considered highly prospective for uranium mineralization but until recently was inaccessible due to persistent flooding conditions. The campaign is expected to continue over approximately the next six months.
The programs are fully funding via the Agreement, in which COAM will fund cumulative expenditures of
JVCO Operating Details
Mr. Rivera will report to the Board of JVCO, composed by members representing the interest of each party. In order to maximize the use of funds, both partners will provide support work in lieu of hiring dedicated teams. Administrative functions including Purchasing, Finance and Legal will be supported by affiliates of Corporación América, while roles such as Environmental, Properties and Databases will continue to be assumed by the Grosso Group team that Blue Sky has used since its inception. All field personnel including the three geologists and the previous Project Manager will join JVCO, maintaining technical continuity.
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
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 campaign at the Ivana deposit and the timing thereof and the prospective nature of the "Bajo Huenteleo" target area. 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; risks 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 drilling 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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SOURCE Blue Sky Uranium Corp.
FAQ
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