10:21 AM EDT, 06/17/2024 (MT Newswires) -- Blue Sky Uranium ( BKUCF ) was at last look edging higher in early Monday trade as moved to buy two projects in Argentina that are prospective for uranium amenable to in situ recovery (ISR).

The company said it acquired an option to earn a 100% stake in the 20,000-hectare Corcovo project in Mendoza province while acquiring 100% control of the 60,000-hectare Chihuidos project.

Blue Sky said it has initiated the permitting process for field programs at the projects. The company added it is working to identify and prioritize prospective targets for future exploration and drill testing.

With the acquisitions, Blue Sky said it now owns controls more than 480,000 hectares of uranium-prospective land in Argentina, including its flagship Amarillo Grande project (AGP).

"Both Corcovo and Chihuidos provide us with excellent prospects for identifying ISR-amenable uranium resources and we look forward to repeating the exploration success that we have had at AGP," President and CEO Nikolaos Cacos said.

The company's share price rose 8.3% last Friday to $0.065.

Price: 0.07, Change: +0.01, Percent Change: +8.33