Junior Uranium Firm Sets Sites on High-Grader Feeder Zones

by Mike Fagan

Mike Fagan


Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) — currently trading around C$0.45 per share — has defined initial targets for its upcoming 3,500-meter drill program at its 100%-owned Moore Uranium Project located in the prolific Athabasca Basin of Saskatchewan, Canada.

The fully-funded and permitted program will focus on following up on existing unconformity and basement-hosted targets along the high-grade Maverick structural corridor as well as newly-defined targets at the Grid Nineteen area.

Skyharbour’s flagship Moore project [acquired from Denison Mines in 2016] 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. 

Skyharbour CEO, Jordan Trimble — whom you’ll be hearing more from in a moment — commented via press release: 
 

“With the geophysical results now in hand and final drill targets picked, we are excited to embark on another aggressive drill program at Moore. We have been very pleased with the results to date at the Maverick East Zone and believe we have just scratched the surface in our endeavour to delineate high grade zones of mineralization at depth in the underlying basement rocks. The uranium mineralization identified during previous drill programs illustrates the strong discovery potential at Moore and recent geophysical programs and geological modeling have enabled the Company to develop new regional drill targets in areas such as Grid Nineteen. Skyharbour is well funded with over CAD $9 million in cash and stock to continue advancing its flagship Moore Project. The uranium market has shown notable signs of recovery with increasing equity valuations and improving sentiment, and this recovery appears to be accelerating.”


The market has been reacting favorably to Skyharbour’s development news over the last several months with SYH more than tripling from C$0.15 to above C$0.45 per share. 

That excitement could escalate further if Skyharbour is able to successfully intersect one or more high-grade “feeder-zones” at-depth in the current drilling round 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. 

                                 

There are also signs of a significant recovery forming in the uranium market including news that Sprott Asset Management, with its 200,000-plus resource-focused investors, is taking over management of Uranium Participation Corp. (TSX: U)(OTC: URPTF) — essentially creating a brand new uranium ETF that could have major positive implications for U3O8 spot prices going forward. 

For those who feel they may have missed-the-boat on near-term uranium price gains, keep in mind that the recent share-price activity has been taking place against a backdrop of almost zero upward momentum in the U3O8 spot price. And as we’ve seen in the past… when U3O8 prices move — they move fast! It’s still early-innings folks! 

Our own Gerardo Del Real of Junior Resource Monthly caught up with Skyharbour CEO, Jordan Trimble, for an in-depth discussion on the uranium market plus a look at the upcoming drill program at Moore. Click here to listen to that interview.

Click here for our most recent report on Skyharbour Resources. 

And be sure to check out my Special Report — "Exploration Opportunities" — which details Skyharbour’s brilliant growth model as a hybrid explorer/prospect generator. 

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

 

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