Ellis Martin Report: Skyharbour Resources Ltd (SYH.V) CEO Jordan Trimble Provides an Update on the Athabasca Uranium Projects
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Skyharbour Resources is pleased to announce the commencement of a phase two diamond drilling program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco's Millennium uranium deposit.
Highlights:
Phase two drilling is designed to follow-up on exciting targets generated from phase one drilling and recently completed geophysical surveys at Mann Lake.
Approximately 4,000 metres of core drilling is planned for phase two covering the southern portion of the project.
The first hole of phase two will follow-up on uranium mineralization in hole MN22-002 (see Company's news release dated September 7, 2022).
Drilling will also test conductive zones and structures identified in this summer's Mobile MT survey along the unconformity contact that corresponds to prevalent gravity lows located near the southeastern portion of the project (see Company's news release dated September 13, 2022).
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About Skyharbour Resources Ltd.:
Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approximately 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration project with high grade uranium mineralization at the Maverick Zone. Drill results have returned up to 6.0% U3O8 over 5.9 metres, including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of specific segments of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project which hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization has been identified. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Source:
Skyharbour Resources Ltd.
Contact:
Riley Trimble Corporate Communications T: +1-604-416-2978 F: +1-604-687-3119 E: [email protected] W: www.skyharbourltd.com
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