The Company drilled a total of 5,349 metres in 29 holes designed to expand the deposit and further upgrade existing resource to measured and indicated categories.
Currently, the Wicheeda deposit has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO[1].
The Company's previous, and highly successful, 2019 drilling campaign resulted in a 49% increase in tonnage and a 30% increase in resource grade. The now complete 2021 drilling program successfully accomplished the Company's goal of identifying the expansion of the REE mineralized dolomite-carbonatite zone to the north, in addition to further delineating existing resources mineralization zones within the central and northwestern areas of the deposit.
Drilling within the northern sector of the Deposit occurred over an area of approximately 200 x 100 metres where multiple drill holes intersected visually mineralized dolomite carbonatite beyond depths predicted in the geological model, both laterally and vertically. Drilling within the southern area of the deposit, primarily designed to upgrade existing inferred and indicated resources, has also confirmed and in some cases expanded the mineralized dolomite carbonatite zone.
Samples will be sent to
About the Wicheeda REE Property
The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of
Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern
About
Contact:
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
Cautionary Statement Regarding 'Forward-Looking' Information
This news release contains 'forward looking information or statements' within the meaning of applicable securities laws, which may include, without limitation, statements relating to the plans for its Wicheeda Property, shipment of samples, assays, drill results and expected timelines, results and outcomes, expanded resource and scale of expanded resource, the completion of the preliminary economic assessment, the advancement and development of the Wicheeda Property, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward looking statements or forward looking information, except as required by law.
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