The Cerro Parva project includes 100% ownership interest in eleven mining properties covering over 65,000 hectares in the central part of Chubut Province. It is road accessible year round, at low elevation, with low relief, in an area of semi-arid climate.
The property is situated within the same District and share similar geologic environment to the Cerro Solo uranium deposit controlled by the Argentina's National Commission of Atomic Energy ("CNEA") and located at 40-50km to the west. In 2016 CNEA reported an estimate of 2,890 tonnes of Uranium (equivalent to 7.51 million pounds U3O8) as Reasonable Assured Conventional Resources (RAR) and 2,201 tonne of Uranium (equivalent to 5.71 million pounds U3O8) as Inferred Conventional Resources for < 80USD/kg U (equivalent to 42USD/lb U3O8).
(Source: Uranium 2016: Resources, Production and Demand by the Organization for Economic Co-Operation and Development Nuclear Energy Agency (OECD) and the International Atomic Energy Agency (IAEA) © OECD 2016 NEA No. 7301.)
Note: Investors are cautioned that resources for Cerro Solo are not reported in compliance with NI 43-101. Furthermore, the Company Qualified Person has not been able to verify the resources reported for Cerro Solo. There is no assurance that a mineral deposit of similar magnitude to Cerro Solo will be found at Cerro Parva Project.
The Cerro Parva stratigraphy is represented by a core of early Mesozoic and older basement formations that are unconformably overlain by a widespread succession of Cretaceous age continental clastic sediments that cover most of the project area. Those sediments are subdivided into a number of formations, all belonging to the Chubut Group. The sequence continues with transgressive marine sediments of Late Cretaceous to Early Tertiary age lying unconformably over the Chubut Group. Late Tertiary continental sediments cover the entire sequence.
Uranium mineralization in the district is related to a fluvial system of the Los Adobes formation which is interpreted as being totally preserved below surface. The fluvial system at Los Adobes formation is interpreted as having an east-west direction; where the Cerro Parva project is located just above the main uranium potential corridor.
Blue Sky exploration efforts to date have included a prospecting program, ground radiometric surveying and mapping. Radiometric anomalies are present at the upper member of Los Adobes formation and interpreted as related to uranium remobilization from deeper blind mineralization at the Arroyo del Pajarito Member, the lower and principal exploration target at Los Adobes formation. The area has never been drilled.