Skyharbour Commences Fall Diamond Drilling Program at its Russell Lake Uranium Project, Saskatchewan
Skyharbour Resources has initiated its fall diamond drilling program at the Russell Lake Uranium Project in Saskatchewan. The company plans to complete 4,500 metres of drilling in 7-9 holes, focusing on the Fork target and M-Zone Extension target areas. The program builds on previous successful results, including a notable discovery at the Fork target where hole RSL24-02 returned 0.721% U3O8 over 2.5 metres, including 2.99% U3O8 over 0.5 metres. The 73,294-hectare project is 51% owned by Skyharbour with Rio Tinto holding 49%, and benefits from strategic location and infrastructure access.
Skyharbour Resources ha avviato il suo programma di perforazione a diamante autunnale presso il Russell Lake Uranium Project in Saskatchewan. La società intende completare 4.500 metri di perforazione in 7-9 fori, concentrandosi sull'obiettivo Fork e sull'estensione della Zona M. Il programma si basa su risultati precedenti di successo, inclusa una scoperta significativa nell'obiettivo Fork, dove il foro RSL24-02 ha restituito 0,721% U3O8 su 2,5 metri, compreso 2,99% U3O8 su 0,5 metri. Il progetto, che si estende su 73.294 ettari, è di proprietà per il 51% di Skyharbour, mentre Rio Tinto detiene il 49%, e beneficia di una posizione strategica e di accesso alle infrastrutture.
Skyharbour Resources ha iniciado su programa de perforación con diamante de otoño en el Russell Lake Uranium Project en Saskatchewan. La empresa planea completar 4.500 metros de perforación en 7-9 agujeros, enfocándose en el objetivo Fork y en la extensión de la Zona M. El programa se basa en resultados exitosos anteriores, incluida un notable descubrimiento en el objetivo Fork, donde el agujero RSL24-02 devolvió 0,721% U3O8 en 2,5 metros, incluyendo 2,99% U3O8 en 0,5 metros. El proyecto, que abarca 73.294 hectáreas, es propiedad del 51% por parte de Skyharbour, con Rio Tinto poseyendo el 49%, y se beneficia de una ubicación estratégica y acceso a infraestructuras.
Skyharbour Resources는 사스카츄완에 있는 Russell Lake Uranium Project에서 가을 다이아몬드 굴착 프로그램을 시작했습니다. 이 회사는 포크 목표 및 M-Zone 연장 목표 지역에 집중하여 7-9개의 구멍에서 4,500미터의 굴착을 완료할 계획입니다. 이 프로그램은 포크 목표에서 RSL24-02 구멍이 2.5미터에 0.721% U3O8를 반환한 것으로 포함되는 주목할만한 발견을 포함하여 이전의 성공적인 결과를 기반으로 합니다. 73,294헥타르의 이 프로젝트는 Skyharbour가 51% 소유하고 있고 Rio Tinto가 49%를 보유하고 있으며, 전략적 위치와 인프라 접근의 이점을 누리고 있습니다.
Skyharbour Resources a lancé son programme de forage à diamant pour l'automne au Russell Lake Uranium Project en Saskatchewan. La société prévoit de compléter 4.500 mètres de forage dans 7 à 9 trous, en se concentrant sur la cible Fork et l'extension de la Zone M. Le programme s'appuie sur des résultats antérieurs couronnés de succès, y compris une découverte remarquable à la cible Fork où le trou RSL24-02 a renvoyé 0,721% U3O8 sur 2,5 mètres, dont 2,99% U3O8 sur 0,5 mètre. Le projet de 73.294 hectares est détenu à 51% par Skyharbour, Rio Tinto détenant 49%, et bénéficie d'un emplacement stratégique et d'un accès à l'infrastructure.
Skyharbour Resources hat sein Herbst-Diamantbohrprogramm im Russell Lake Uranium Project in Saskatchewan gestartet. Das Unternehmen plant, 4.500 Meter Bohrungen in 7-9 Löchern abzuschließen, wobei der Fokus auf dem Fork-Ziel und dem M-Zone-Erweiterungsziel liegt. Das Programm baut auf vorherigen erfolgreichen Ergebnissen auf, einschließlich einer bemerkenswerten Entdeckung am Fork-Ziel, wo das Loch RSL24-02 0,721% U3O8 über 2,5 Meter zurückgab, einschließlich 2,99% U3O8 über 0,5 Meter. Das Projekt mit einer Fläche von 73.294 Hektar gehört zu 51% Skyharbour, während Rio Tinto 49% hält, und profitiert von einer strategischen Lage und dem Zugang zur Infrastruktur.
- New high-grade uranium discovery at Fork Target with 2.99% U3O8 over 0.5 metres
- Strategic location with access to infrastructure reducing drilling costs
- 51% controlling interest in the 73,294-hectare Russell Lake Project
- Partnership with major mining company Rio Tinto (49% ownership)
- None.
Vancouver, BC, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the commencement of its fall diamond drilling program at the 73,294 hectare Russell Lake Uranium Project (“Russell” or the “Project”). The Project is
Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg
Fall Diamond Drilling Program at Russell Lake:
Skyharbour plans to complete approximately 4,500 metres of drilling at Russell to follow up on notable previous exploration and findings and to test new targets developed by the geological team. The drilling program will be focused on the road-accessible Fork target within the broader Grayling target area as well as the M-Zone Extension (“MZE”) target. All-in drilling costs are lower given the nearby infrastructure including the mine and mill haul road as well as Skyharbour’s exploration camp at the project. A total of 4,500 metres in seven to nine holes is planned with five to six holes planned on the Fork target and two to three holes planned on the MZE target.
Russell Lake Project Target Areas:
https://www.skyharbourltd.com/_resources/images/20240110-MainTargetsRussellLake2024.jpg
The Fork target is a newly identified target to the west of the Grayling Zone and on-strike with Denison’s M-Zone at their adjacent Wheeler River Project. Earlier this year, the best intercept of uranium mineralization historically on the Russell Lake Project was discovered in hole RSL24-02, which returned a 2.5 metre wide intercept of
Fork and Grayling Drill Targets:
https://www.skyharbourltd.com/_resources/images/20240110-ForkGraylingEastTargetsRussellLake.jpg
Skyharbour has also refined additional drill targets in the M-Zone Extension area, along trend from the Grayling Zone and Denison’s M-Zone, where historical drilling intersected basement-hosted uranium. More recent drilling by Denison in 2020 at the M-Zone encountered uranium mineralization with significant faulting, core loss, geochemical anomalies, and radioactivity encountered in other drill holes. Like the Grayling Zone, the mineralization is hosted by a graphitic thrust fault within a significant magnetic low. It is also noted that cross structures associated with Denison’s Phoenix and Gryphon uranium deposits potentially trend onto the Russell Lake property within the M-Zone Extension target area, further enhancing the prospectivity of this target.
M-Zone Extension Drill Targets:
https://www.skyharbourltd.com/_resources/images/20240110-M-ZoneExtensionTargetsRussellLake.jpg
Russell Lake Project Historical Summary:
The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,294 hectares strategically located between Cameco’s Key Lake and McArthur River Projects and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the Property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road and the western edge of the property south of Key Lake. Skyharbour’s acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 108,999 hectares between the Russell Lake and the Moore uranium projects.
There has been historical exploration carried out at Russell Lake. However, most of it was conducted before 2010, prior to the discovery of several major deposits in and around the Athabasca Basin. In 2023, Skyharbour’s inaugural diamond drilling program tested several Fox Lake Trail targets and the Grayling Zone. Significant uranium mineralization was intersected in the majority of holes at the Grayling Zone over a strike length exceeding one kilometre. More recently, Skyharbour completed 5,152 metres of drilling in a 2024 winter/spring drill program making a new discovery at the newly identified Fork Target area. Hole RSL24-02 marks the best intercept of uranium mineralization historically at the project, returning a 2.5 metre wide intercept of
2024 Fork Target Drill Hole Location Map:
Several notable exploration targets exist on the property including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, the Fox Lake Trail target and the newly identified Fork Zone target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity also exist on the Property.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person. Mr. Billard has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a
Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources (previously Valor) at the Preston, East Preston, and Hook Lake Projects respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over
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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
________________________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
FAQ
What are the main targets for Skyharbour's (SYHBF) fall 2024 drilling program at Russell Lake?
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