A masterclass on how to profit from the 2024 uranium bull market

Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) — currently trading around C$0.55 per share in the 2024 uranium bull market — has announced a combined 8,000-meter winter drill program at its co-flagship Russell Lake and Moore uranium projects in Saskatchewan’s prolific Athabasca Basin.

With drill mobilization set to commence in the next couple of weeks, Skyharbour will embark on a 5,000-meter program across 10 to 12 holes over the course of the next several months at Russell Lake followed by 3,000 meters across 8 to 10 holes at the adjacent Moore project. 

Skyharbour Resources CEO Jordan Trimble — whom you’re about to hear from directly in our exclusive interview — commented on the forthcoming multi-project drill program via press release:

“The upcoming commencement of our winter diamond drill campaign at both our Russell Lake and Moore Uranium Projects marks the first time Skyharbour will be simultaneously co-advancing these two core projects. This fully funded, 8,000 meter drill campaign will provide ample news flow well into the year as we advance the projects using systematic and proven exploration methodologies coupled with new geological models and targeting strategies. We are confident in the discovery potential and exploration upside at both projects given the high-grade mineralization in historical drill holes along with the many highly prospective target areas hosting the geology necessary for high-grade uranium deposition. We will also be carrying out infill and definition drilling at the high-grade zones at Moore along the Maverick Corridor.” 

At Russell Lake, Skyharbour holds an option agreement with Rio Tinto Group (NYSE: RIO) to acquire up to a 100% interest in the project.

Both Russell Lake and Moore are strategically located adjacent to Denison Mines’ (TSX: DML)(NYSE-Amer: DNN) Wheeler River uranium project and give SYH a solid land position in the southeastern corner of the basin (see below). 

russell lake

The upcoming program at Russell Lake is a follow-up to the company’s inaugural drill program from 2023 where drilling at the Grayling target area intersected significant zones of uranium mineralization. 

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Next up, at the co-flagship, 100%-owned Moore property, which was acquired from Denison Mines in 2016, SYH will be focusing on multiple high-grade zones along the 4.7-km-long Maverick Corridor. A portion of the drilling will focus on testing regional targets at the large, 35,000-plus-hectare (137 sq mi) project.

As a hybrid prospect generator, Skyharbour has amassed an impressive uranium exploration project portfolio comprising 25 projects — 10 of which are drill-ready — covering over 1.2 million acres (4,856 sq km or 1,875 sq mi) in and around the prolific Athabasca Basin region.

Collectively, SYH has inked earn-in option agreements with partners that total to over C$32 million in partner-funded exploration expenditures, over C$26 million worth of shares being issued, and over C$19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

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Over the next twelve months, and in addition to drilling at Russell Lake and Moore, the Skyharbour team anticipates drilling and/or exploration at partner-funded projects, including:

  • Orano at Preston
  • Azincourt at East Preston
  • North Shore Uranium at Falcon
  • Tisdale Clean Energy at South Falcon East
  • Medaro Mining at Yurchison 
  • Basin Uranium at Mann Lake

In other words, plenty of news flow on the near-term horizon with which to potentially move the needle in what’s shaping up to be a powerful long-term bull market for uranium.  

Our own Gerardo Del Real of Junior Resource Monthly sat down with Skyharbour Resources CEO Jordan Trimble, who gives nothing less than a masterclass on today’s uranium market, plus an update on multiple drill programs slated for 2024. Please enjoy!

As always, we’ll continue to keep you posted as major new developments arise. In the meantime, be sure to sign up to receive updates directly from Skyharbour here

For more information on Skyharbour Resources, please be encouraged to contact the company’s IR department at 604-558-5847 or via email at info@skyharbourltd.com. 

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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