Mike Fagan,
Editor
Sept. 5, 2024
Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) — currently trading around C$0.34 per share — has commenced summer drilling at its co-flagship, 100%-owned Moore Lake uranium project located in the central core of the eastern Athabasca Basin of northern Saskatchewan, Canada.
The program calls for 2,500 meters of diamond drilling across 7 to 9 holes with the aim of expanding and further defining the Main Maverick and Maverick East Zones where high-grade, near-surface uranium mineralization has been intersected in previous drill rounds, including:
- Main Maverick Zone: 6.0% U3O8 over 5.9 meters at 265 meters depth
- Maverick East Zone: 1.79% U3O8 over 11.5 meters at 270 meters depth
The Moore project, which hosts multiple mineralized zones, is situated 15 km east of Denison’s Wheeler River uranium project and proximal to regional infrastructure for Cameco’s Key Lake and McArthur River operations (see Moore Lake/Russell Lake property location map; plus Main Maverick & Maverick East Zones proposed drill targets below).
SYH is fully funded and permitted for the newly commenced program at Moore and for an additional 4,000 to 5,000 meters of follow-up drilling at the company’s adjacent co-flagship Russell Lake project later this fall. Earlier this year, SYH confirmed a new high-grade uranium discovery at Russell Lake’s Fork Zone.
Mineralization at Moore is deemed open along strike, and at depth in the basement rocks, at both the Main Maverick & Maverick East zones. The SYH team notes that numerous additional regional targets exist elsewhere on the 35,705-hectare property, including along the full extent of the 4.7-km-long Maverick Corridor, which may be tested during this or future drilling programs.
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Skyharbour CEO Jordan Trimble commented on the start of summer drilling at Moore via press release:
“We are excited to commence drilling again with plans to carry out an initial program at Moore followed by a larger program at Russell totalling 7,000-8,000 meters combined across both projects. We have continued to expand the high-grade zones on the Moore Project and will be drilling in this program to further delineate the numerous zones of uranium on the Maverick Corridor taking advantage of regional infrastructure to bring our costs down. Furthermore, with the recent discovery of high-grade uranium mineralization at Russell in the newly identified Fork Zone, this has been a very successful year of drilling thus far for Skyharbour with much more news to come at both Moore and Russell as well as at the various partner-funded projects.”
Speaking of partner-funded projects, the Skyharbour team anticipates drilling and/or exploration at multiple partner-funded, Athabasca-based projects in 2H 2024, including:
- Orano at Preston (commencement of field program)
- Azincourt at East Preston (winter drill program completed; elevated uranium found in K-H Zones)
- North Shore Uranium at Falcon (uranium mineralization confirmed at multiple targets)
- Tisdale Clean Energy at South Falcon East (2024 Phase One drilling completed with additional drilling planned)
- Thunderbird 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 all, Skyharbour has amassed an impressive portfolio of 29 projects in the Athabasca Basin, ten of which are drill-ready, covering over 580,000 hectares (1.4 million-plus acres), making SYH the third-largest mineral tenure holder by acreage in the basin.
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$20 million in cash payments coming into Skyharbour, assuming the partner companies complete their entire earn-ins at the respective projects.
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SYH has several other 100%-owned projects available for option that will add to the growing prospect generator business.
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.
Sign up to receive updates directly from Skyharbour here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Skyharbour Resources Ltd.