Featured Companies: Skyharbour Resources Ltd.
Uranium Junior Expands Drill Program in Canada’s Athabasca
Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) — currently trading around C$0.50 per share — has announced the expansion of its current drill program at its 100%-owned Moore Uranium Project located in the prolific Athabasca Basin of Saskatchewan, Canada.
The fully funded and permitted program is being increased from 3,500 meters to a total of 5,000 meters in 12 to 14 holes with a focus on unconformity and basement-hosted targets along the high-grade, 4.7-km-long Maverick structural corridor as well as newly-defined targets at the Grid Nineteen area.
The flagship project is located just 15 km east of Denison’s Wheeler River project and 39 km south of Cameco's McArthur River uranium mine — the world’s largest high-grade uranium deposit.
The market’s response, which has thus far been favorable, could gain even further traction if Skyharbour is able to successfully intersect one or more high-grade “feeder-zones” at-depth in the current drilling as it continues to test basement rocks situated beneath the sandstone cover.
The Maverick East Zone is of particular interest to the Skyharbour team as a potential basement-hosted feeder-zone due its thick zones of mineralization (up to 17.96 meters) and high uranium grades up to 9.12% U3O8.
Of course, the drills will soon tell the story. Yet, whenever a junior exploration firm expands an ongoing drill program, it usually means the geos are encouraged by what they’re seeing in the early drill holes. That certainly appears to be the case here.
Additionally in the Athabasca, on the prospect generator front, Skyharbour’s JV partner on the East Preston Uranium Project, Azincourt Energy, now reports elevated uranium levels and the presence of uranium-bearing fluids in the recently-completed drilling round. Based on those positive results, Azincourt intends to ramp up exploration and drilling activities there in the coming months.
Also adding positive impetus is uranium’s recent price move — from US$28/lb in Q1 to currently just north of US$32/lb — along with the potential for further price escalation as utilities begin contracting at higher prices.
Our own Gerardo Del Real of Junior Resource Monthly sat down with CEO, Jordan Trimble, for an in-depth discussion on all-things uranium and Skyharbour. CLICK HERE TO LISTEN. Transcript is also available.
Yours in profits,
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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