Skyharbour Intersects High Grade Uranium in Multiple Drill Holes Including 9.12% U3O8 over 1.4m at Newly Discovered Maverick East Zone as well as 5.29% U3O8 over 2.5m at Main Maverick Zone on the M...
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, May 23, 2017 (GLOBE NEWSWIRE) -- Skyharbour
Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the "Company") is
pleased to announce the results from its first phase, winter 2017 diamond
drilling program at its flagship 35,705 hectare Moore Uranium Project, located
approx. 15 kilometres east of Denison Mine's Wheeler River project and near
regional infrastructure on the southeast side of the Athabasca Basin,
Saskatchewan. Multiple drill holes intersected high grade uranium mineralization
at the 4 kilometre long Maverick structural corridor. High grade results include
9.12% U(3)O(8) over 1.4 metres within an interval returning 4.17% U(3)O(8) over
4.5 metres in hole ML-202; 5.29% U(3)O(8) over 2.5 metres within an interval
returning 2.99% U(3)O(8) over 5.0 metres in hole ML-200; 2.25% U(3)O(8) over
3.0 metres in hole ML-208, and previously reported 20.8% U(3)O(8) over 1.5
metres within an interval returning 6.0% U(3)O(8) over 5.9 metres in hole ML-
199. This high grade mineralization within the Maverick corridor is relatively
shallow ranging from 250 metres to 275 metres vertical depth. Also of note is
that hole ML-202 represents the discovery of a new high grade mineralized lens
on the corridor.
Moore Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Highlights:
* Hole ML-202 at the Maverick East Zone returned 1.79% U(3)O(8) over 11.5
metres from 266.0 to 277.5 metres downhole including 4.17% U(3)O(8) over
4.5 metres and 9.12% U(3)O(8)over 1.4 metres; this is a newly discovered
high grade mineralized lens on the Maverick corridor and illustrates the
strong discovery potential of additional high grade lenses along strike.
* Hole ML-208 at the Main Maverick Zone returned 2.25% U(3)O(8) over 3.0
metres from 266.8 to 269.8 metres.
* Previously reported drill hole ML-199 at the Main Maverick Zone intersected
high grade uranium mineralization containing 6.0% U(3)O(8) over 5.9 metres,
from 261.6 to 267.5 metres depth including 20.8% U(3)O(8) over 1.5 metres
from 264.0 to 265.5 metres.
* This first phase drill program totaled 5,450 metres in 15 holes testing the
Maverick corridor; the known unconformity-hosted high grade mineralization
at the Maverick corridor is relatively shallow at 250 metres to 275 metres
vertical depth.
* Only 1.5 kilometres of the total 4 kilometre long Maverick corridor have
been systematically drill tested leaving robust discovery potential along
strike as well as at depth in the underlying basement rocks which have seen
limited drill testing historically.
* Given the success of the first phase of drilling at Moore, planning is
currently underway for a summer drill program with news and details
forthcoming; the Company is fully funded for this upcoming drill program
with over $3.7 million in the treasury.
Jordan Trimble, President and CEO of Skyharbour Resources, states: "The first
phase of drilling at Moore has far exceeded our expectations and we will be
commencing a summer drill program in the coming months to follow up on these
results. The presence of shallow, high grade uranium mineralization in seven of
the fifteen holes is very encouraging not to mention that all of the holes
drilled to target intersected uranium mineralization in this program. We are
discovering new, high grade mineralized lenses along strike from the Main
Maverick Zone which clearly illustrates the robust, underlying geological
potential of the Moore Project. The Maverick corridor is over 4 kilometres long
yet only 1.5 kilometres have been systematically drilled with most of this
drilling and known high grade uranium hosted at or near the unconformity leaving
strong discovery potential along strike but also at depth in the basement rocks.
The Company is fully funded to complete multiple future drill programs,
including the upcoming summer program, which will provide ample news flow for
the remainder of the year as we continue to value-add the project using a
systematic and proven exploration methodology augmented by innovative field
techniques and new geological analyses."
Winter 2017 Drill Program Summary and Upcoming Summer 2017 Drill Program Plans:
This recently completed drill program totaled 5,450 metres in fifteen holes with
most holes drilled to between 200 metres and 350 metres depth except for one
hole drilled deeper to 468 metres. The program was focused on the Maverick
structural corridor and tested gaps as well as the margins of the Main Maverick
Zone lens. Other targets tested included the Maverick East Zone, the Goose Zone,
the Maverick West Zone and the Maverick South Zone. Of the fifteen holes
drilled, seven had high grade mineralization over 1.0% U(3)O(8), thirteen were
mineralized and two had no significant mineralization but only due to drill hole
deviation.
Moore Uranium Project Winter 2017 Drill Program Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Drilling-
Update_20170515.pdf
The highest grade intercept was from hole ML-199 which returned 6.0%
U(3)O(8) over 5.9 metres from 261.6 to 267.5 metres downhole including 20.8%
U(3)O(8) over 1.5 metres (see news release Feb. 27(th), 2017). The final assay
results from two holes for which only calculated probe equivalent results were
previously reported have been significantly upgraded in light of the analytical
results. Hole ML-200 returned 1.62% U(3)O(8) over 9.5 metres from 269.0 to
278.5 metres downhole including 2.99% U(3)O(8) over 5.0 metres and including
5.29% U(3)O(8) over 2.5 metres. Hole ML-208 located on the western portion of
the Main Maverick Zone returned 2.25% U(3)O(8) over 3.0 metres from 266.8 to
269.8 metres downhole.
Moore Uranium Project Maverick Zone Drilling Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Maverick-
Detail_20170515.pdf
Hole ML-202, drilled at the newly discovered Maverick East Zone, returned 1.79%
U(3)O(8) over 11.5 metres from 266.0 to 277.5 metres downhole including 4.17%
U(3)O(8) over 4.5 metres and including 9.12% U(3)O(8) over 1.4 metres. This new
high grade lens exemplifies the potential for high grade uranium mineralization
to be discovered between widely spaced previous drill holes on the 4 kilometre
long Maverick corridor.
Drill hole ML-207 was drilled to a depth of 468 metres in the Maverick South
Zone to test for deeper basement hosted mineralization. As one of the few
exploratory holes drilled to test the basement potential at the Moore Project,
this hole intersected anomalous uranium mineralization with coincident boron
enrichment several metres beneath the unconformity. This is highly encouraging
and demonstrates the strong discovery potential at depth in the underlying
basement rocks throughout the Moore Project.
Moore Uranium Project Maverick and Goose Zones Drilling Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Maverick-Trend-w-
geophys-inset_20170515_v2.pdf
Also of note, Hole ML-205 was drilled in a separate high grade mineralized lens
known as the Goose Zone located approx. 500 metres E-NE of the Main Maverick
Zone and returned 1.80% U(3)O(8) over 1.6 metres within 0.47% U(3)O(8) over
10.4 metres from 275.1 to 285.5 metres downhole. The Goose Zone is still open
along strike and at depth in the basement rock. Further along strike one
kilometre to the E-NE (approx. 1.5 kilometres from the Main Maverick Zone), the
Viper Zone represents a high priority target going forward with limited
historical drilling having discovered shallow uranium mineralization. The
Company is planning to drill test this area in the upcoming summer drill program
along with the Maverick Zone and other regional targets. Details on this drill
program are forthcoming.
Moore Uranium Project Regional Drill Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
Only 1.5 kilometres of the total 4 kilometre long Maverick corridor has been
systematically drill tested leaving strong discovery potential along strike as
well as at depth in the underlying basement rocks which have seen limited drill
testing historically. Furthermore, there are ten other regional drill targets on
the Moore Project in which historical drilling has discovered uranium
mineralization including the Pukapuka, Nutana, Otter Grid, Avalon, Venice and
Rarotonga Zones. All of these zones remain open along strike and at depth with
only limited and widely spaced exploratory drill testing having been conducted
historically.
Geological Description of Winter 2017 Drill Program:
Main Maverick Zone:
Six holes tested the Main Maverick Zone lens during this winter's program, four
of which intersected high grade uranium mineralization. This includes holes ML-
199 and ML-200 (discussed above), as well as hole ML-208 which was drilled in
the western half of the lens and intersected high grade uranium mineralization
just below the unconformity in clay altered and replaced graphitic pelites. This
hole returned 2.25% U(3)O(8) over a 3.0 metre interval from 266.8 to 269.8
metres downhole. Hole ML-213 drilled in the eastern half of the lens intersected
high grade uranium mineralization within the sandstone above the unconformity
overlying clay altered to replaced granite. This hole returned 0.76%
U(3)O(8) over a 10.4 metre interval from 266.2 to 276.6 metres downhole and
included a higher grade interval of 1.56% U(3)O(8) over 3.5 metres. Hole ML-213
also contained highly anomalous levels of pathfinder elements in both the
sandstone and basement rocks, specifically As, Co, Cu, Ni, Pb, Zn and V, with
copper being particularly enriched. A 1.0 metre interval in the sandstone
returned 3.4% Cu approximately ten metres above the unconformity. Holes ML-201
and ML-203 deviated from their targeted zones and did not intersect significant
uranium mineralization.
Maverick East Zone:
Four holes drill tested the newly discovered Maverick East Zone lens with all
four holes intersecting uranium mineralization. Hole ML-202 intersected high
grade uranium mineralization in a previously untested area approximately 75
metres east-northeast of the Main Maverick lens. This hole returned 1.79%
U(3)O(8) over 11.5 metres from 266 to 277.5 metres downhole including 4.17%
U(3)O(8) over 4.5 and including 9.12% U(3)O(8) over 1.4 metres. The
mineralization straddles the unconformity and extends into the clay-replaced and
altered weakly graphitic pelitic and granitic basement rocks. Three additional
holes tested the lens including hole ML-211 which returned 0.13% U(3)O(8) over
8.5 metres along with highly anomalous levels of pathfinder elements in both the
sandstone and basement rocks. Hole ML-212 returned 0.19% U(3)O(8) over 3.4
metres and hole ML-210 returned 0.10% U(3)O(8) over 1.0 metre.
Goose Zone:
The Goose Zone (formerly 527 Zone) is located approximately 500 metres northeast
of the Main Maverick lens. Three holes tested this area and the most significant
results were obtained from ML-205 which intersected 0.47% U(3)O(8) over 10.4
metres from 275.1 to 285.5 metres downhole including 1.80% U(3)O(8) over 1.6
metres. The mineralization is primarily in the clay altered and replaced pelites
and granites at and just beneath the unconformity. Hole ML-204 intersected
0.06% eU(3)O(8) over 5.5 metres in clay altered pelites five metres below the
unconformity while hole ML-206 intersected 0.09% U(3)O(8) over 0.5 metres.
Maverick West Zone:
Hole ML-209 tested a resistivity low that correlated with the Maverick conductor
system approximately 750 metres west of the Main Maverick lens. It intersected
strongly altered and structurally disrupted sandstone and basement lithologies
as well as anomalous uranium mineralization accompanied by anomalous Pb values
in the basement rock ten metres below the unconformity. This zone has seen
limited historical drill testing and remains open along strike and at depth.
Maverick South Zone:
Hole ML-207 was collared 100 metres south of the Maverick conductor system and
was drilled to a depth of 468 metres in the Maverick South Zone to test for
deeper basement hosted mineralization. As one of the few exploratory holes
drilled to test the basement potential at the Moore Project, this hole
intersected anomalous uranium mineralization with coincident boron enrichment
several metres below the unconformity in faulted graphitic pelites. This is
highly encouraging and illustrates the strong discovery potential at depth in
the underlying basement rocks throughout the Moore Project.
Moore Uranium Project Overview:
In June 2016, Skyharbour secured an option to acquire Denison Mine's Moore
Uranium Project, on the southeastern side of the Athabasca Basin, in northern
Saskatchewan. The project consists of 12 contiguous claims totaling 35,705
hectares located 42 kilometres northeast of the Key Lake mill, approx. 15
kilometres east of Denison's Wheeler River project, and 39 kilometres south of
Cameco's McArthur River uranium mine. Unconformity style uranium mineralization
was discovered on the Moore Project at the Maverick Zone in April 2001.
Historical drill highlights include 4.03% eU(3)O(8) over 10 metres including
20% eU(3)O(8) over 1.4 metres starting at a depth of 265 metres in hole ML-61.
In addition to the Maverick Zone, the project hosts other mineralized targets
with strong discovery potential which the Company plans to test with future
drill programs. The project is accessible via winter and ice roads which
simplifies logistics and lowers costs.
Moore Lake Uranium Project Geophysics Map:
http://skyharbourltd.com/_resources/maps/MooreLake-Basic-geo-revamp.jpg
Qualified Person:
The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in National Instrument 43-101
and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour's Head
Technical Advisor and a Director, as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration
projects in Canada's Athabasca Basin and is well positioned to benefit from
improving uranium market fundamentals with five drill-ready projects. In July
2016, Skyharbour acquired an option from Denison Mines, a large strategic
shareholder of the Company, to acquire 100% of the Moore Uranium Project which
is located approx. 15 kilometres east of Denison's Wheeler River project and 39
kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced
stage uranium exploration property with high grade uranium mineralization at the
Maverick Zone with drill results returning 6.0% U(3)O(8) over 5.9 metres
including 20.8% U(3)O(8) over 1.5 metres at a vertical depth of 265 metres.
Skyharbour recently signed option agreements with AREVA Resources Canada and
Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston
Project through a combined $9,800,000 in total exploration expenditures, as well
as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is
a large, geologically prospective property proximal to Fission Uranium's Triple
R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a
100% interest in the Falcon Point Uranium Project on the eastern perimeter of
the Basin which contains an NI 43-101 inferred resource totaling 7.0 million
pounds of U(3)O(8) at 0.03% and 5.3 million pounds of ThO(2) at 0.023%. The
project also hosts a high grade surface showing with up to 68% U(3)O(8) in grab
samples from a massive pitchblende vein, the source of which has yet to be
discovered. The Company's 100% owned Mann Lake Uranium project on the east side
of the Basin is strategically located adjacent to the Mann Lake Joint Venture
operated by Cameco, where high grade uranium mineralization was recently
discovered. Skyharbour's goal is to maximize shareholder value through new
mineral discoveries, committed long-term partnerships, and the advancement of
exploration projects in geopolitically favourable jurisdictions.
Skyharbour's Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V:SYH) visit the Company's
website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
"Jordan Trimble"
Jordan Trimble
President and CEO
For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3850
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 release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Skyharbour Resources Ltd via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.05.2017 - 13:00 Uhr
Sprache: Deutsch
News-ID 544216
Anzahl Zeichen: 21071
contact information:
Town:
Vancouver
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Skyharbour Intersects High Grade Uranium in Multiple Drill Holes Including 9.12% U3O8 over 1.4m at Newly Discovered Maverick East Zone as well as 5.29% U3O8 over 2.5m at Main Maverick Zone on the M..."
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