Blake was given his marching orders with six minutes remaining following his challenge on Ipswich's Alan Quinn.
But Sturrock revealed the club would consider getting the red card overturned.
Sturrock, who was assisted by former Argyle and Ipswich striker Paul Mariner, said: "We will have a look at the video and see if Darcy deserved a straight red card. If not we will lodge an appeal but first we will look at the tape.
"Overall I don't know at this stage whether it was a point gained or two dropped.
"What I do know is that we played with confidence in the first half and when we were a goal up but once we conceded that confidence seemed to be sucked out of us."
Ipswich boss Roy Keane, whose side remain at the bottom of the table and without a league win, praised the defending of the home side.
He said: "I have maybe been quick to have a go at our players for not hitting the target.
"I think it's important I give Plymouth credit today, to be fair, their defenders defended really well, you only have to look at Quinn's chance and the defender running back and clearing off the line.
"I guess when you go one down away from home, particularly with the ball taking ages to come back in when it goes out of play, I suppose we have got to be contented with a draw.
"The encouraging thing for me as a manager is that we are creating chances."
Argyle took the lead through skipper Carl Fletcher after left-back Gary Sawyer's lofted ball was headed down by target man Rory Fallon to strike partner Jamie Mackie.
He rolled the ball back from the edge of the penalty area, Fallon skipped over it and Fletcher send a rising drive past Town's on-loan Portsmouth keeper Asmir Begovic.
Ipswich drew level in the 68th minute after Sawyer's poor back pass opened the door for substitute Jon Stead to race on and score, rounding home keeper Romain Larrieu and slotting home.
Both keepers made good saves with Larrieu denying Grant Leadbitter twice in the first half and Begovic making a superb stop from Karl Duguid midway through the second half.
The Town keeper's most important save came late on, after Argyle had been reduced to 10 men by the 84th minute dismissal of substitute Blake.
Begovic made a brilliant diving save to push out Shane Lowry's stoppage-time volley.
Blake, who had made a vital off the line clearance from Quinn in the 73rd minute, was dismissed for a challenge on the same player late on.