PROJECTS

ANIT PROPERTY

Highlights

  • 15 kilometre trend of near-surface Sandstone-hosted uranium mineralization discovered by Blue Sky
  • 1000m x 200m strongly mineralized corridor within a paleo-channel
  • Mineralization open at depth in some areas and along paleo-channel strike
  • Exploration potential along +5km
  • Exploration work to date includes 123 sampling pits, 1,404 metres of trenching and 204 shallow drill-holes totaling 5,044 metres, including
    • 4 m averaging 0.078% U3O8 and 0.107% V2O5,
    • 3 m averaging 0.071% U3O8 and 0.153% V2O5.
  • Metallurgical testwork indicates amenability to upgrading

Location and Access

The 24,000 hectare Anit Property lies between the Santa Barbara and Ivana properties within the 140 kilometre NW-SE Amarillo Grande uranium trend discovered by Blue Sky in the centre of Rio Negro province. The property has year-round access through a well-maintained gravel road, and is in a semi-arid area with low rainfall and population density.

Discovery History

The Anit property was a grassroots discovery by Blue Sky in the centre of the new uranium district. The discovery was made during “ground truthing” of results from the 2007 airborne radiometric survey that identified a 15 kilometre-long, and locally up to 1.5 kilometres wide, anomaly in the area.

Subsequent fieldwork included the 2010 detailed airborne survey, trenching, pit sampling, auger testing, radon gas surveys, and two aircore reverse circulation drill programs. This work culminated in the definition of more strongly mineralized and thicker portions of the mineralized paleochannel in the West and Central zones, as well as large areas of lower grade mineralization in the East zone and in showings located up to 200 metres north and 400 metres south of the Central zone. The zones are open for expansion.

Local Geology

The majority of the uranium mineralization delineated to date is within six metres of surface and is hosted by unconsolidated clastic sediments, often below a thin veneer of unmineralized material. Carnotite, the only uranium mineral identified to date, occurs as coatings on grains of sand and pebbles. The sediments are interpreted as belonging to the upper section of the Chichinales formation, a tuff-rich fluvial sequence of Middle Tertiary age.

Metallurgy

Independent preliminary metallurgical test work has demonstrated that the mineralized material from the Anit property can be inexpensively upgraded by wet screening mineralized material to remove coarse pebbles that contain little or no uranium mineralization, producing a low-mass higher-grade concentrate. This has the potential to significantly reduce processing and transportation costs, making the development of several satellite deposits around one central processing facility an economically attractive possibility.

For additional details on the Anit Property please refer to the Technical Report and filings on SEDAR.