Positioning for Near-Term Uranium Profits

Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) – currently trading below US$0.20 per share – is following up on its successful airborne VTEM study at its 50%-owned Preston Uranium Project in Canada with a newly-announced ground-based geophysical program.

The program is being funded and conducted by one of Skyharbour’s project partners, Azincourt Energy, with the primary objective of identifying high-priority targets at the East Preston Zone for anticipated follow-up drilling.
 

The Preston Uranium Project is located in the famed Athabasca Basin of Saskatchewan, Canada — the #1 highest-grade depository of uranium on the planet.

The Athabasca hosts numerous world-class U3O8 deposits including: 

• Cameco’s McArthur River and Cigar Lake mines;
• NexGen’s Arrow Project; 
• Fission’s PLS Project; and
• Denison’s Wheeler River Project.
   

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The Preston Uranium Project is the largest and longest contiguous property portfolio adjacent to NexGen’s Rook-1 claims, and trends nearly the full east-west property border covering multiple conductor corridors identified within the region.

Also in the Athabasca, Skyharbour is the 100%-owner of the giant 137 square mile Moore Uranium Project following its completion of an earn-in from Denison Mines.

The Moore project is situated just 9 miles east of Denison’s Wheeler River project and 24 miles south of Cameco’s McArthur River mine — the world’s largest high-grade uranium deposit. 

The image below shows the location of the Preston Uranium Project with Azincourt’s East Preston option area – and the Moore Uranium Project with Cameco’s McArthur River and Cigar Lake mines situated just to the north. 
 

The Moore project – where the company has announced a 2,500-meter drill program – hosts the high-grade Maverick Zone where 2017 drilling returned 6.0% U3O8 over 5.9 meters – including 20.8% U3O8 over 1.5 metres – at a vertical depth of just 265 metres. 

Skyharbour Resources is well-positioned with multiple drill-ready projects at the epicenter of North American uranium production – Saskatchewan, Canada – which is consistently ranked in the top five mining jurisdictions globally by the Fraser Institute.

The fundamentals are also in-place for higher uranium prices going forward: Current annual global uranium consumption is 190 million pounds while annual global mine production is 140 million pounds — resulting in a 50-million pound deficit.

What we need to see next is the major utilities coming in to sign U3O8 contracts at higher prices. Once that starts happening, the long-awaited rerating in the uranium sector will finally be underway.

Skyharbour Resources is one of only a handful of North American uranium juniors with multiple, high-potential, drill-ready uranium projects in a Tier-1 jurisdiction. 

Once this highly cyclical market turns higher – which it has shown to do with great ferocity in the past – it will be those rare, few, well-positioned companies like Skyharbour Resources that’ll attract the lion’s share of buying in the junior uranium space. 

Click here for our most recent report on Skyharbour Resources.

Yours In Profits,

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.
 

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