Source: Streetwise Reports 09/04/2024
Skyharbour Resources Ltd. (OTC: SYHBF) announced it has started a 2,500-meter summer drill program at its 100%-owned high-grade Moore uranium project.
The nearly 36,000-hectare project is about 15 kilometers east of Denison Mines Corp.'s (AMEX:DNN) Wheeler River project and "proximal to regional infrastructure for Cameco Corp.'s (NYSE: CCJ) Key Lake and McArthur River operations in the Athabasca Basin, Saskatchewan."
The seven to nine holes to be drilled have been designed to expand and further characterize the high-grade Main Maverick and Maverick East zones. Skyharbour said it is fully funded and permitted for the drill program, as well as for future drilling, including 4,000–5,000 meters to be drilled later this fall at the adjacent Russell Lake project.
"We are excited to commence drilling again with plans to carry out an initial program at Moore followed by a larger program at Russell totaling 7,000-8,000 meters combined across both projects" said President and Chief Executive Officer Jordan Trimble. "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."
The use of local infrastructure including the McArthur River Mine haul road, powerlines, and the McGowan Lake Camp at Russell will help to materially lower all-in drill costs, Skyharbour said.
The drilling at Moore will be focused on the Main Maverick and Maverick East Zones to further expand, characterize and define the extents of the mineralized zones. The high-grade zones of uranium mineralization targeted in the Main Maverick and Maverick East zones are relatively shallow, between 250-280 meters from the surface, the company said.
"There remains expansion potential at both of the high-grade Main Maverick and Maverick East Zones" Skyharbour said in a statement. "Furthermore, substantial portions of the 4.7-kilometer-long Maverick corridor remain to be systematically drill-tested leaving robust discovery potential along strike as well as at depth in the basement rocks."
A Prospect Generator Strategy
Skyharbour has an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin, with 29 projects, 10 of which are drill-ready, covering over 580,000 hectares of mineral claims. In addition to being a high-grade uranium exploration company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to advance its secondary assets.
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