Skyharbour Resources Ltd. : Skyharbour Acquires Significant U3O8 Land-Package in Patterson Lake Area & Eastern Athabasca Basin, Northern Saskatchewan
(Thomson Reuters ONE) -
Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: info(at)skyharbourltd.com
March 20, 2013
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTC Pink: SYHBF) (the
"Company") is pleased to announce it has acquired a large portfolio of mineral
claims comprising six uranium properties in approximately 209,000 acres of land
in the Athabasca Basin region, northern Saskatchewan.
Five of the properties consisting of 197,000 acres of prospective ground are
strategically located near the Alpha Minerals (TSX-V: AMW; "Alpha") and Fission
Energy (TSX-V: FIS; "Fission") Patterson Lake South discovery area. The
Athabasca Basin hosts the world's largest and richest high-grade uranium
deposits accounting for approximately 20% of global primary uranium supply.
There are still many areas in the region that are highly prospective and
underexplored as illustrated by the new high-grade uranium discovery at the
Patterson Lake South property.
Skyharbour's Patterson Lake Area Properties:
http://www.skyharbourltd.com/i/maps/SYH-Patterson-Lake-Claims-Map.jpg
The Patterson Lake area has received escalating exploration attention and claim
acquisition activity as a result of the new discovery made by of Alpha and
Fission which included a drill interval that returned 2.49% U3O8 over 12.5
metres. This discovery demonstrates the potential for high-grade uranium
mineralization on the margins of the western side of the Athabasca Basin where
significantly less exploration has been carried out compared to the eastern side
of the Athabasca Basin. Skyharbour has acquired its land package at acquisition
cost in which roughly half of the land was staked directly by the Company and
the other half was staked by an arms-length party and is subject to a 2% NSR.
With approximately $1 million in the treasury, Skyharbour will now examine and
compile all available historic and related mineral exploration data associated
with the acquired properties in anticipation of uranium exploration work
programs this year.
With excellent supply-demand fundamentals underpinning uranium, Skyharbour
intends to build upon its portfolio of uranium projects in the Athabasca Basin
as well as in other prolific uranium districts.
Skyharbour's Patterson Lake Properties:
The Company has acquired five properties in the Patterson Lake region totaling
roughly 197,000 acres making it one of the largest land positions in the area.
Two of these properties, North Patterson and RY, are strategically located
approximately 27 km and 35 km respectively to the north of Fission/Alpha's
Patterson Lake South project claim boundary and cover prospective geology within
the Athabasca Basin sandstones including NE-SW regional structural trends. There
are two properties approximately 15 km to the south of Fission/Alpha's Patterson
Lake South project claim boundary that are road accessible via all-weather
Highway 955 which runs north to the former Cluff Lake mine (> 60M lbs of U3O8
produced). The fifth property acquired by Skyharbour is approximately 90 km east
of the discovery and is situated along the unconformable contact between
basement rocks and the Athabasca Basin. With this significant land package, the
Company is well positioned in this emerging area to the north, south and east of
the recent high grade uranium discovery. Other regional operators in the area
include Cameco Corp., Areva, and Denison Mines.
Uranium mineralization is associated with granitic plutons, stocks, pegmatites
and other felsic gneiss of the Archean basement rocks of the Athabasca Basin in
this region. The uranium is trapped in both pre-Paleozoic sandstones and
carbonaceous units of the Manitiou Falls Formation (like Cigar Lake on the
Eastern Flank of the Basin) and within younger Cretaceous age silty sandstones
within and on the flanks of the Basin (like the high grade Patterson Lake South
uranium discovery). Skyharbour has at least two target types on its recently
acquired land in the Patterson Lake region including pegmatite hosted uranium as
well as silty sandstone hosted mineralization in the McMurray formation.
Patterson Lake Regional Geology:
http://www.skyharbourltd.com/i/maps/SYH-Patterson-Lake-Claims-Regional-
Geology.jpg
Skyharbour's Eastern Athabasca Basin Property - Wheeler Project:
Skyharbour's 11,769 acre Wheeler Project is located in the Eastern Flank of the
Athabasca Basin and has three uranium showings on the property. Initially, a
northeast-trending train of radioactive boulders was located which was traced to
the source mineralized outcrop. Grab sample assay values range from 10 ppm to
0.495% U3O8. The mineralization is contemporaneous with the formation of the
pegmatoid rocks and uranium mineralization is scattered uraninite grains
enclosed in fresh and weakly altered biotite, quartz and feldspar.
The Wheeler project has two obvious targets for immediate exploration. First,
the known, outcropping, pegmatite hosted uranium mineralization mentioned above,
and second, Cigar Lake style uranium mineralization hosted at the regional,
unconformable contact between the Archean age pegmatites and overlying basin
fill sedimentary units.
Qualified Person:
Robert Marvin, P.Geo., CPG, geologist for Skyharbour is the Qualified Person as
defined by National Instrument 43-101 and has approved the technical information
in this release.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a uranium, gold and base metal exploration company
with projects in the Athabasca Basin of northern Saskatchewan and in Red Lake,
northwestern Ontario, Canada. The Company has approx. 35 million shares
outstanding.
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the
Company's website at www.skyharbourltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
James G. Pettit
Director
For further information contact myself or:
Jordan Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release may contain certain "Forward-Looking Statements" that may
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. For a more detailed
discussion of such risks and other factors, refer to the Company's filings with
Canadian Securities regulators available on www.sedar.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Skyharbour Resources Ltd. via Thomson Reuters ONE
[HUG#1686551]
Unternehmensinformation / Kurzprofil:
Datum: 20.03.2013 - 09:30 Uhr
Sprache: Deutsch
News-ID 241238
Anzahl Zeichen: 8524
contact information:
Town:
Vancouver BC
Kategorie:
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