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11.07.2024 13:00:08 - dpa-AFX: GNW-Adhoc: Skyharbour Intersects 7.30% U3O8 over 3.0m within 5.0m of 4.61% U3O8 at High-Grade Moore Project and Plans for Upcoming Fully-Funded Summer Drill Programs
Vancouver, BC, July 11, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-
V: SYH (https://money.tmx.com/en/quote/SYH)) (OTCQX: SYHBF)
(http://www.otcmarkets.com/stock/SYHBF/quote) (Frankfurt: SC1P
(https://www.boerse-frankfurt.de/equity/skyharbour-resources)) (the "Company")
is pleased to announce assay results from its 2024 winter diamond drilling
program which totaled 2,864 metres in nine holes at its 100% owned, 35,705
hectare Moore Uranium Project. The project is located approximately 15
kilometres east of Denison Mine's Wheeler River project and proximal to regional
infrastructure for Cameco's Key Lake and McArthur River operations in the
Athabasca Basin, Saskatchewan. A highlight from this program was from hole ML24-
08 which intersected 5.0 metres of 4.61% U(3)O(8) from a relatively shallow
downhole depth of 265.5 metres to 270.5 metres including 10.19% U(3)O(8) over
1.0 metre at the Main Maverick Zone. Skyharbour plans to continue advancing
Moore through additional drilling in 2024 in conjunction with a fully-funded
summer drill program to follow-up on the recently reported Fork target uranium
discovery at the Company's adjacent Russell Lake Uranium Project. The combined
drill campaign this summer is planned to consist of approximately 7,000 - 8,000
metres with details forthcoming.
(https://can01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fskyharbourltd
.com%2F_resources%2Fimages%2Fmoore-project-map-
20221012.jpg&data=05|01|jtrimble%40sentinelmarket.com|f51b0d6cf40340ca3ed708daac
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ata=gclp83hQcuzFk4Vzgxwkvdk87F7ePQgYX650qcS%2BK4A%3D&reserved=0)
Jordan Trimble, President and CEO of Skyharbour Resources, stated: "The drill results announced here demonstrate the high-grade, shallow endowment of uranium mineralization at the Main Maverick Zone. We continue to expand this main zone, and will be drilling this summer to further delineate the numerous high-grade zones of uranium on the Maverick Corridor taking advantage of regional infrastructure including the exploration camp at our adjacent Russell Lake project to bring our costs down. The multi-kilometre Maverick Corridor offers strong discovery potential along strike and at depth in the underlying basement rocks, and we also plan to test prospective regional targets that have had limited drill-testing historically. With the recent discovery of high-grade uranium mineralization at Russell in the Fork Zone, this has been an exciting season 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."
Highlights:
* Hole ML24-08 is one of the better holes drilled at the Main Maverick Zone to
newly discovered Fork Zone returned high-grade uranium mineralization hosted in the sandstone.
Summary of 2024 Winter Drilling Program at Moore:
Drilling on the Moore Project over the winter of 2024 totaled 2,864 metres in nine holes. Seven holes (ML24-01 to -04 and ML24-7 to -09) were drilled at the Main Maverick Zone and two holes were drilled on the Grid 19 target conductors (ML21-05 to -06).
Main Maverick Zone Drilling:
Seven holes totalling 2,221 metres were drilled at the Main Maverick Zone to better define and expand the shallow high-grade mineralized zone. All of these holes were drilled vertically and intersected significant uranium mineralization
at the unconformity centred around 265.0 metres to 275.0 metres downhole depth. The majority of the high-grade uranium mineralization at the Main Maverick Zone is sandstone-hosted situated just above the unconformity.
The highlight was hole ML24-08, which intersected 5.0 metres of 4.61% U(3)O(8) between 265.5 metres and 270.5 metres depth including 3.0 metres of 7.30%
U(3)O(8) between 266.0 metres to 269.0 metres depth. Another notable hole was ML
24-03, which intersected a broad interval of mineralization grading 1.11%
U(3)O(8) over 11.5 metres between 266.8 metres to 278.3 metres depth, including 5.87% U(3)O(8) over 2.0 metres. The results of the drilling are reported in the following table:
+---------+--------+--------+-------+--------------------+
| Hole | From | To | Width | Assay (% U(3)O(8)) |
+---------+--------+--------+-------+--------------------+
| ML24-01 | 274.9 | 275.4 | 0.5 | 0.112 |
+---------+--------+--------+-------+--------------------+
| ML24-02 | 265.0 | 271.5 | 6.5 | **0.914 |
+---------+--------+--------+-------+--------------------+
+---------+--------+--------+-------+--------------------+
+---------+--------+--------+-------+--------------------+
+---------+--------+--------+-------+--------------------+
+---------+--------+--------+-------+--------------------+
+---------+--------+--------+-------+--------------------+
The geology and geochemistry of all the drill holes are typical of the Main Maverick Zone. The zone is characterized by a subvertical fault intersecting basement rocks consisting primarily of graphitic and non-graphitic pelitic gneiss along with Hudsonian and Archaean granites, accompanied by local pegmatite bodies. The overlying sandstone is typically intensely faulted, de- silicified, clay enriched and highly bleached with sooty pyrite and local silicification. The depth to the unconformity is approximately 270.0 metres where the sandstone and basement rocks are clay-altered to -replaced with uranium mineralization and with local intervals of basement-hosted uranium mineralization. The sandstone column is highly anomalous in Boron (Â
V: SYH (https://money.tmx.com/en/quote/SYH)) (OTCQX: SYHBF)
(http://www.otcmarkets.com/stock/SYHBF/quote) (Frankfurt: SC1P
(https://www.boerse-frankfurt.de/equity/skyharbour-resources)) (the "Company")
is pleased to announce assay results from its 2024 winter diamond drilling
program which totaled 2,864 metres in nine holes at its 100% owned, 35,705
hectare Moore Uranium Project. The project is located approximately 15
kilometres east of Denison Mine's Wheeler River project and proximal to regional
infrastructure for Cameco's Key Lake and McArthur River operations in the
Athabasca Basin, Saskatchewan. A highlight from this program was from hole ML24-
08 which intersected 5.0 metres of 4.61% U(3)O(8) from a relatively shallow
downhole depth of 265.5 metres to 270.5 metres including 10.19% U(3)O(8) over
1.0 metre at the Main Maverick Zone. Skyharbour plans to continue advancing
Moore through additional drilling in 2024 in conjunction with a fully-funded
summer drill program to follow-up on the recently reported Fork target uranium
discovery at the Company's adjacent Russell Lake Uranium Project. The combined
drill campaign this summer is planned to consist of approximately 7,000 - 8,000
metres with details forthcoming.
Moore Uranium Project Claims Map: https://skyharbourltd.com/_resources/images/moore-project-map-20221012.jpg
(https://can01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fskyharbourltd
.com%2F_resources%2Fimages%2Fmoore-project-map-
20221012.jpg&data=05|01|jtrimble%40sentinelmarket.com|f51b0d6cf40340ca3ed708daac
5d3d33|7887c856c65a4519b618509a66239c3c|1|0|638011813694631781|Unknown|TWFpbGZsb
3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D|3000|||&sd
ata=gclp83hQcuzFk4Vzgxwkvdk87F7ePQgYX650qcS%2BK4A%3D&reserved=0)
Jordan Trimble, President and CEO of Skyharbour Resources, stated: "The drill results announced here demonstrate the high-grade, shallow endowment of uranium mineralization at the Main Maverick Zone. We continue to expand this main zone, and will be drilling this summer to further delineate the numerous high-grade zones of uranium on the Maverick Corridor taking advantage of regional infrastructure including the exploration camp at our adjacent Russell Lake project to bring our costs down. The multi-kilometre Maverick Corridor offers strong discovery potential along strike and at depth in the underlying basement rocks, and we also plan to test prospective regional targets that have had limited drill-testing historically. With the recent discovery of high-grade uranium mineralization at Russell in the Fork Zone, this has been an exciting season 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."
Highlights:
* Hole ML24-08 is one of the better holes drilled at the Main Maverick Zone to
date. It intersected an interval of high-grade mineralization grading 4.61%
U 3 O 8 over 5.0m starting at 265.5m downhole including 3.0m of 7.30% U 3 O
8 and 1.0m of 10.19% U 3 O 8 , with up to 10.8% Ni.
* Hole ML24-03 intersected a broad interval of high-grade mineralization
grading 1.11% U 3 O 8 over 11.5m starting at 266.8m downhole including 2.0
metres of 5.87% U 3 O 8 .
* All holes drilled in the Main Maverick Zone during the winter of 2024
intersected significant uranium mineralization with the goal of further
expanding and delineating the known zone of mineralization.
* There remains expansion potential at both of the high-grade Main Maverick
and Maverick East Zones. Furthermore, substantial portions of the 4.7
kilometre long Maverick corridor remain to be systematically drill-tested
leaving robust discovery potential along strike as well as at depth in the
basement rocks.
* Two exploratory holes drilled in the Grid 19 area tested the Slice Pond and
19 East Conductors and intersected structurally disrupted graphitic pelitic
accompanied by significantly anomalous pathfinder element geochemistry.
* Preparation for a fully-funded 2,500 - 3,000 metre summer drill program at
Moore focused at the Maverick Zones is underway, as is a follow-up 4,500 -
5,000 metre drill program at the Russell Lake Project where drilling at the
newly discovered Fork Zone returned high-grade uranium mineralization hosted in the sandstone.
Summary of 2024 Winter Drilling Program at Moore:
Drilling on the Moore Project over the winter of 2024 totaled 2,864 metres in nine holes. Seven holes (ML24-01 to -04 and ML24-7 to -09) were drilled at the Main Maverick Zone and two holes were drilled on the Grid 19 target conductors (ML21-05 to -06).
Moore Uranium Project Regional Grid Targets Map:
?http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
Main Maverick Zone Drilling:
Seven holes totalling 2,221 metres were drilled at the Main Maverick Zone to better define and expand the shallow high-grade mineralized zone. All of these holes were drilled vertically and intersected significant uranium mineralization
at the unconformity centred around 265.0 metres to 275.0 metres downhole depth. The majority of the high-grade uranium mineralization at the Main Maverick Zone is sandstone-hosted situated just above the unconformity.
Main Maverick Zone Drilling Map:
https://www.skyharbourltd.com/_resources/maps/Maverick-Main-Drilling-
2024_Magnetics.jpg
The highlight was hole ML24-08, which intersected 5.0 metres of 4.61% U(3)O(8) between 265.5 metres and 270.5 metres depth including 3.0 metres of 7.30%
U(3)O(8) between 266.0 metres to 269.0 metres depth. Another notable hole was ML
24-03, which intersected a broad interval of mineralization grading 1.11%
U(3)O(8) over 11.5 metres between 266.8 metres to 278.3 metres depth, including 5.87% U(3)O(8) over 2.0 metres. The results of the drilling are reported in the following table:
+---------+--------+--------+-------+--------------------+
| Hole | From | To | Width | Assay (% U(3)O(8)) |
+---------+--------+--------+-------+--------------------+
| ML24-01 | 274.9 | 275.4 | 0.5 | 0.112 |
+---------+--------+--------+-------+--------------------+
| ML24-02 | 265.0 | 271.5 | 6.5 | **0.914 |
+---------+--------+--------+-------+--------------------+
| ML24-03 | 266.8 | 278.3 | 11.5 | 1.112 | | | | | | | | incl | 270.3 | 272.3 | 2.0 | 5.87 |
+---------+--------+--------+-------+--------------------+
| ML24-04 | 262.2 | 267.5 | 6.2 | *0.323 | | | | | | | | incl | 266.0 | 266.9 | 0.9 | *1.142 |
+---------+--------+--------+-------+--------------------+
| ML24-07 | 267.1 | 271.1 | 4.0 | 0.729 | | | | | | | | incl | 267.10 | 268.10 | 1.0 | 1.870 |
+---------+--------+--------+-------+--------------------+
| ML24-08 | 265.5 | 270.5 | 5.0 | 4.610 | | incl | 266.0 | 299.0 | 3.0 | 7.30 | | | | | | | | incl | 267.5 | 268.5 | 1.0 | 10.19 | | incl | 268.0 | 268.5 | 0.5 | 14.90 |
+---------+--------+--------+-------+--------------------+
| ML24-09 | 270.0 | 273.1 | 3.1 | *0.330 | | | | | | | | and | 282.5 | 283.0 | 0.5 | 0.127 |
+---------+--------+--------+-------+--------------------+
*Grade Equivalent U(3)O(8) from downhole gamma probing
** Composite of Chemical and Grade Equivalent U(3)O(8)
The geology and geochemistry of all the drill holes are typical of the Main Maverick Zone. The zone is characterized by a subvertical fault intersecting basement rocks consisting primarily of graphitic and non-graphitic pelitic gneiss along with Hudsonian and Archaean granites, accompanied by local pegmatite bodies. The overlying sandstone is typically intensely faulted, de- silicified, clay enriched and highly bleached with sooty pyrite and local silicification. The depth to the unconformity is approximately 270.0 metres where the sandstone and basement rocks are clay-altered to -replaced with uranium mineralization and with local intervals of basement-hosted uranium mineralization. The sandstone column is highly anomalous in Boron (Â
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
SKYHARBOUR RESOURCES | A2AJ7J | Frankfurt | 0,254 | 30.07.24 14:31:24 | -0,005 | -1,96% | 0,000 | 0,000 | 0,230 | 0,254 |
