Here's how you position for gains in the 2024 uranium bull market

Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) — currently trading around C$0.50 per share in the 2024 uranium bull market — has announced that partner company Orano Canada Inc. has commenced its spring 2024 field campaign at the Preston uranium project located in the western Athabasca Basin of northern Saskatchewan, Canada.

The multi-faceted field program at Preston, with Orano as operator, will include a ground electromagnetic survey (ML-TEM), a ground gravity survey, and a Spatiotemporal Geochemical Hydrocarbons (SGH) soil sampling program.

skyharbour arano map

The significant discovery potential of the 49,635-hectare Preston project has been highlighted by past discoveries in the area by NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and F3 Uranium’s PLN discovery.

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Skyharbour CEO Jordan Trimble commented on the start of the field campaign at Preston with Orano — France’s largest uranium mining and nuclear fuel cycle company — via press release: 

“We are very much looking forward to the findings of these exploration programs this year at Preston with our strategic partner Orano. This is the first field work being carried out at the Project in several years, and we have elected to participate in the program as a minority partner in the JV as we strongly believe in Preston’s discovery upside potential.”

Skyharbour is also in the midst of a multi-phase, fully-funded drill program at its co-flagship Russell Lake and Moore uranium projects in the central core of the eastern Athabasca Basin.

Phase-1 consists of 5,000-meters across 10 to 12 holes at Russell Lake. Phase-2 comprises 3,000 meters across 8 to 10 holes at Moore. At a combined 8,000 meters, the ongoing program marks Skyharbour’s largest drill program to-date and is the first time the two co-flagships are being drilled in the same program.

In all, Skyharbour has amassed an impressive portfolio of 29 projects, ten of which are drill-ready, covering over 587,000 hectares (1.45 million-plus acres), making SYH the third-largest mineral tenure holder by acreage in the basin. 

skybarbour athabasca map

Collectively, Skyharbour has inked earn-in option agreements with partners that total to over C$33 million in partner-funded exploration expenditures, over C$27 million worth of shares being issued, and over C$19 million in cash payments coming into Skyharbour, assuming the partner companies complete their entire earn-ins at the respective projects.

Over the coming few quarters, and in addition to the aforementioned Preston project with Orano, and the co-flagship Russell Lake and Moore projects, the Skyharbour team anticipates drilling and/or exploration at partner-funded projects, including:

  • Azincourt at East Preston (drills being mobilized)
  • North Shore Uranium at Falcon (drill assays pending)
  • Tisdale Clean Energy at South Falcon East (drilling underway)
  • Valor at Hook Lake (second drill program being planned)
  • Medaro Mining at Yurchison (maiden drill program being planned)
  • Basin Uranium at Mann Lake (follow up exploration being planned)

In other words, no shortage of news flow ahead for Skyharbour in what’s shaping up to be a long-term uranium bull market with U3O8 spot prices currently climbing back toward US$90 per pound.

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As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with Skyharbour Resources CEO Jordan Trimble for an in-depth discussion on the uranium market, the multi-project drilling, and much more. Please enjoy!

For more information on Skyharbour Resources, please be encouraged to contact the company’s IR department at 604-558-5847 or via email at Sign up to receive updates directly from Skyharbour here

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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