Western Athabasca Syndicate Commences Winter Drill Program at
Preston Property in the Patterson Lake Region, SW Athabasca Basin
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 17, 2014) -
Skyharbour Resources Ltd. (TSX-VENTURE:SYH)(PINKSHEETS:SYHBF)
("Skyharbour") is pleased to announce that the Western Athabasca
Syndicate (the "Syndicate") has commenced its inaugural
diamond-drilling program on its flagship Preston Uranium Property
(the "Property") in the southwest Athabasca Basin. Three initial
target areas, out of a growing target base currently standing at
fifteen, were selected by the Syndicate's Technical Committee for
immediate drilling based on encouraging fieldwork results and
coincident anomalies from ground gravity, airborne and ground EM
and magnetics (graphitic conductors and structures), radon, soil,
biogeochem, lake sediment, and geological mapping surveys. This
drill campaign represents the first modern-day drill exploration
program on the Preston Uranium Property.
Preston Uranium Property Map and
Regional Exploration Corridors:
http://skyharbourltd.com/_resources/SYH_Regional_Corridors.jpg
Approximately 2,000 metres of drilling by way of 10 to 15 holes
with depths of 100 - 250 metres is expected to be completed at the
Swoosh, CHA and Fin South areas during the current campaign. Based
on regional data compilation, depth to the top of the target zone
(top of basement rock) is expected to be relatively shallow,
ranging from 25 metres to 75 metres across the three initial target
areas.
The majority of the work in this drill campaign will be focused
on the Swoosh target where five separate drill pads will test a
combination of EM conductors, complex structures, gravity lows,
anomalous geochemistry and elevated radon values. This target is a
high-priority area given the coincident geological, magnetic, EM,
gravity and radon anomalies that are evidence of strong fluid
interaction and potential uranium mineralization as seen at other
recent discoveries in the region.
Preston Property - Swoosh Target
Map:
http://skyharbourltd.com/_resources/maps/SYH_Swoosh_Drill_Locations.jpg
In addition to the Swoosh target area, the CHA and Fin South
drill targets also represent high-potential exploration prospects
given the presence of coincident anomalies and indicators similar
to those seen at the Swoosh target and at other discovery areas in
the Athabasca Basin. Preliminary drilling at both these two target
areas is incorporated into the current design of the drill program.
Management cautions, mineralization present on proximal
properties is not necessarily indicative of mineralization on the
Syndicate's Property.
Jordan Trimble, President and CEO of Skyharbour Resources,
states: "The commencement of our first diamond drill program at
Preston is a key milestone for Skyharbour and the Syndicate. The
findings from the extensive fieldwork carried out to date have
greatly exceeded our expectations and have vectored in on fifteen
high-priority areas with similar geological features and
exploratory indicators as those at the nearby PLS and NexGen
discoveries. The three targets we are initially drill testing
provide strong discovery potential as we continue to value-add the
project using a systemic and proven exploration methodology."
The Preston Uranium Property
The 246,643 hectare Preston Uranium Property is the largest
individual property proximal to Fission Uranium Corp.'s Patterson
Lake South ("PLS") high-grade uranium discovery and the recent
discovery made by NexGen Energy on the Rook 1 Project (see NexGen's
news release dated Feb. 19, 2014). The Syndicate is the largest
land tenure holder in the southwest Athabasca Basin region
including properties strategically situated to the southwest and to
the northeast of the PLS and NexGen discoveries.
Over $2 million dollars in exploration has been carried out to
date by the Syndicate on the Preston property and many priority
targets remain for further follow up with both fieldwork and drill
testing. The Syndicate continues to employ a systematic, proven
exploration methodology that has led to numerous uranium
discoveries in the region and throughout the Athabasca Basin. This
has been very effective in identifying numerous high-quality
targets at Preston with similar geological features and exploratory
indicators as those at the nearby PLS and NexGen discoveries as
well as other deposits in the Athabasca Basin.
About the Western Athabasca Syndicate:
The Western Athabasca Syndicate is a strategic partnership
formed between Skyharbour, Athabasca Nuclear, Lucky Strike and Noka
to explore and develop a 287,130 hectare suite of uranium
properties that is the largest land position along the highly
prospective margin of the Western Athabasca Basin controlled by a
single group. Under the terms of the agreement, each of the four
companies has an option to earn 25% of the five uranium properties
comprising the Western Athabasca Syndicate Partnership by making a
series of cash payments, share payments, and incurring their
pro-rata amount of the total $6,000,000 in exploration expenditures
over the two-year earn-in term of the agreement. The properties
were acquired for their proximity to the PLS discovery and
interpreted favourable geology for the occurrence of PLS style
uranium mineralization. The bulk of the Syndicate land package is
bisected by all-weather Highway 955 which runs north through the
PLS discovery on to the former Cluff Lake uranium mine.
The Athabasca Basin of Saskatchewan hosts the world's largest
and richest high-grade uranium deposits which have grades
substantially higher than the world average grade of about 0.1%
U3O8. The Patterson Lake area has received escalating exploration
attention and claim acquisition activity as a result of the new,
near surface discoveries made by Fission which includes the
recently reported drill interval of 38.49% U3O8 over 10.5 metres in
drill hole PLS14-129. Consistent high-grade, near surface U3O8
assays from Fission demonstrate the potential for high-grade
uranium mineralization on the geologically prospective yet
underexplored margins of the western side of the Athabasca
Basin.
Qualified Person:
Athabasca Nuclear Director, Charles C. (Chuck) Downie, P.Geo.,
is the Qualified Person as defined by National Instrument 43-101
and has approved the technical information in this release.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a uranium exploration company and a
member of the Western Athabasca Syndicate which controls a large,
geologically prospective land package consisting of five properties
(287,130 hectares or 709,513 acres) in the Athabasca Basin of
Saskatchewan. $6,000,000 in combined exploration expenditures over
the next two years is planned on these properties, $5,000,000 of
which is being funded by the three partner companies. Skyharbour
also owns a 60% interest in the Mann Lake Uranium project on the
east side of the Basin strategically located 25 km southwest of
Cameco's McArthur River Mine. The Company has 44.8 million shares
outstanding with insiders owning over 25% of the outstanding
shares. 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.
To find out more about Skyharbour Resources Ltd.
(TSX-VENTURE:SYH) visit the Company's website at
www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
Jordan P. Trimble, President and CEO
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
Skyharbour Resources Ltd.Jordan P. TrimblePresident and
CEO604-687-3376 or Toll Free:
800-567-8181604-687-3119info@skyharbourltd.comSkyharbour Resources
Ltd.Don MyersDirector604-687-3376 or Toll Free:
800-567-8181604-687-3119info@skyharbourltd.comwww.skyharbourltd.com
Grafico Azioni Skyharbour Resources (TSXV:SYH)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Skyharbour Resources (TSXV:SYH)
Storico
Da Set 2023 a Set 2024