Skyharbour Commences 2,500m Summer Diamond Drill Program at its Moore Uranium Project, Saskatchewan
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Skyharbour
Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the "Company") is
pleased to announce it has commenced its 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
to carry out a minimum of 2,500 metres in seven to nine diamond drill holes
through September to follow up on the success of the winter 2017 drill program
with planned drill targets located on the Maverick corridor as well as at other
high-priority regional targets.
Moore Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Jordan Trimble, President and CEO of Skyharbour Resources, states: "The
commencement of our second diamond drill program at our flagship Moore Uranium
Project is an important milestone for Skyharbour and its shareholders. The high-
grade uranium mineralization discovered during the winter program earlier this
year illustrates the strong discovery potential at the project. We will be drill
testing the Maverick corridor as well as several other shallow, regional
exploration targets that offer the potential to generate additional discoveries.
The Company is well funded with over $3.5 million in the treasury to complete
this drill program, as well as next winter's planned drill program, and will
provide updates as results become available."
Summer 2017 Dill Program at the 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 now commenced a minimum 2,500 metre
summer drill program. Drill targets will include several high-priority 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% U(3)O(8) 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 as well as at depth in the basement rocks. The
Company has received the necessary permits and is fully funded for this drill
program.
Moore Uranium Project Regional Drill Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
The regional drill targets that will be tested are on the eastern side of the
property in a previously undrilled area. They are associated with geophysical
features including EM conductors, resistivity lows and magnetic lows that are
characteristic to uranium mineralization in the Athabasca Basin. They are also
along strike of conductive zones identified in the Puka Puka and East Venice
grids. Prior drill testing at some of these areas returned highly anomalous
pathfinder elements as well as low grade uranium mineralization. Of special
interest with respect to the regional targets are a couple of drill holes
planned to test recently interpreted geophysical targets at the unconformity and
in the basement rock beneath the "Moore Lake Complex," a mafic intrusive
interpreted to be on the order of 200 metres thick.
Winter 2017 Dill Program Results at Moore Uranium Project:
Skyharbour previously reported results from its 5,450 metre, 15 drill hole,
winter 2017 diamond drilling program at its Moore Uranium Project (see May
23(rd), 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.
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: 29.08.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 558137
Anzahl Zeichen: 10364
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Skyharbour Commences 2,500m Summer Diamond Drill Program at its Moore Uranium Project, Saskatchewan"
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