Skyharbour Announces Plans for Upcoming Summer 2017 Drill Program and Commences Comprehensive Data Compilation on the Moore Uranium Project
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, July 13, 2017 (GLOBE NEWSWIRE) -- Skyharbour
Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the "Company") is
pleased to announce plans for its upcoming summer 2017 drill 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. The Company is planning
a 2,500 metre diamond drill program commencing in August to follow up on the
success of the recently completed winter 2017 drill program with planned drill
targets located on the Maverick Corridor as well as other regional targets
planned for drill testing. The Company is also carrying out a comprehensive data
compilation program at Moore to aggregate all of the historical and ongoing
exploration results and plans to use new and innovative techniques to analyze
this data to enhance the discovery potential and resource delineation at the
project going forward.
Moore Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Upcoming Summer 2017 Dill Program at Moore Uranium Project:
Given the success of Skyharbour's first phase of drilling at the Moore Project
in the winter of 2017, the Company has planned for a 2,500 metre summer drill
program to commence in August. Drill targets will include several regional
targets at the property as well as the Maverick corridor where previous drilling
has intersected high grade uranium mineralization at the Main Maverick Zone
including 6.0% U3O8 over 5.9 metres at 265 metres depth in hole ML-199, as well
as the discovery of new, high grade mineralized lenses along strike from this
Main Maverick Zone. 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 has received the necessary permits and is fully funded for this
upcoming drill program with over $3.7 million in the treasury. Additional news
is forthcoming on the drill program.
Moore Uranium Project Data Compilation and Analysis:
Skyharbour is carrying out an extensive data compilation program on its Moore
Uranium Project to aggregate all of the historical and ongoing exploration
results and geological information. Over $35 million in historical exploration
has been carried out over several decades including airborne and ground
electromagnetic and magnetic surveys, ground gravity, seismic, IP/resistivity
and geochemical surveys, mapping, prospecting, lake sediment sampling programs
and the drilling of more than 380 diamond drill holes. The Company is compiling
all of this data into a comprehensive, modern, user-friendly proprietary
database that will help streamline geological analysis and target evaluation for
future exploration programs. Reinterpretation of historical data led to the new
discovery of a high grade uranium lens at the Maverick East Zone in the 2017
winter drill program which included 4.17% U3O8over 4.5m in hole ML-202.
Skyharbour will utilize new techniques and innovative analysis with the database
to enhance the discovery potential at Moore going forward.
Moore Uranium Project Regional Drill Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
Winter 2017 Dill Program Results at Moore Uranium Project:
Skyharbour recently reported results from its 5,450 metre, 15 drill hole, winter
2017 diamond drilling program at its Moore Uranium Project (see May 23rd, 2017
news release). Multiple drill holes intersected high grade uranium
mineralization at the 4 kilometre long Maverick structural corridor. Previously
reported high grade results included 20.8% U3O8 over 1.5 metres within an
interval returning 6.0% U3O8 over 5.9 metres in hole ML-199; 9.12% U3O8 over
1.4 metres within an interval returning 4.17% U3O8 over 4.5 metres in hole ML-
202; 5.29% U3O8 over 2.5 metres within an interval returning 2.99% U3O8 over
5.0 metres in hole ML-200; and 2.25% U3O8 over 3.0 metres in hole ML-208. 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. 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.
Moore Uranium Project Winter 2017 Drill Program Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Drilling-
Update_20170515.pdf
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% U3O8 over 5.9 metres including
20.8% U3O8 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 U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also
hosts a high grade surface showing with up to 68% U3O8 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: 604-639-3850
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: 13.07.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 552302
Anzahl Zeichen: 10945
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Skyharbour Announces Plans for Upcoming Summer 2017 Drill Program and Commences Comprehensive Data Compilation on the Moore Uranium Project"
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