Blue Sky is focusing its uranium exploration efforts on southern Argentina. The Company believes that the region is underexplored, with excellent potential for near-surface uranium resources with rapid low-cost development potential. The new Federal Government has made public its support for the development of a domestic uranium supply to support the plans for expanding the nuclear energy capacity of the country, providing an excellent potential first customer for any new operation. The World Nuclear Association reports that:
- Argentina has three nuclear
reactors generating about one-tenth of its electricity.
- Its first commercial nuclear power reactor began operating in 1974.
- The construction of two
additional reactors is planned.
- Construction has started on
a small locally-designed power reactor prototype.
- Nuclear Energy requirements are expected to increase by 2.5 times by 2025…translating to a potential for 1.25 million pounds of U3O8 annually
- All uranium is for the
nuclear industry is currently sourced from outside the country
The Company has assembled a 3,500 km2 (350,000 ha)
land package in Rio Negro and Chubut provinces of Argentina, making the Blue
Sky one of the largest uranium project holders in the Country.
Blue Sky’s uranium projects were selected with the assistance of Dr.
Jorge Berizzo for their potential to host economic uranium deposits. Dr. Berizzo has extensive experience in
uranium exploration and production obtained as a senior exploration geologist,
and later as mine manager, for the Argentinean National Atomic Energy
Commission ("CNEA"), as well as privately owned companies. Dr.
Berizzo also played a leading role in the discovery of the Cerro Solo uranium
deposit in Chubut province, Argentina.