Skyharbour Partner Company Terra Clean Energy Begins Extensive Drill Program at the South Falcon East Uranium Project
Skyharbour Resources (SYHBF) announces that partner Terra Clean Energy has begun mobilizing crew and equipment for an extensive winter drill program at the South Falcon East Uranium Project. The program will consist of up to 2,500 meters of drilling, focusing on expanding the Fraser Lakes B Uranium Deposit.
The project, located 18km outside the Athabasca Basin and 50km East of the Key Lake uranium mill, is under an option agreement where Terra can earn a 75% interest by funding CAD $10.5M in exploration and paying Skyharbour CAD $11.1M in cash (of which $6.5M can be settled in shares).
Terra's 2024 inaugural drill program confirmed uranium mineralized pegmatites and graphitic pelitic paragneiss along the Way Lake Conductor. The 2025 program aims to extend the mineralized footprint and test nearby targets, with previous drilling highlighting promising results including 0.165% U3O8 over 2.0 metres.
Skyharbour Resources (SYHBF) annuncia che il partner Terra Clean Energy ha iniziato a mobilitare personale e attrezzature per un ampio programma di perforazione invernale presso il South Falcon East Uranium Project. Il programma consisterà in fino a 2.500 metri di perforazione, concentrandosi sull'espansione del deposito di uranio Fraser Lakes B.
Il progetto, situato a 18 km al di fuori del bacino di Athabasca e a 50 km a est dell'impianto di uranio Key Lake, è soggetto a un accordo di opzione in base al quale Terra può guadagnare un interesse del 75% finanziando 10,5 milioni di CAD in esplorazione e pagando a Skyharbour 11,1 milioni di CAD in contante (di cui 6,5 milioni possono essere saldati in azioni).
Il programma di perforazione inaugurale del 2024 di Terra ha confermato pegmatiti mineralizzate di uranio e paragneiss pelitico grafitico lungo il conduttore di Way Lake. Il programma del 2025 mira ad estendere l'impronta mineralizzata e testare obiettivi vicini, con perforazioni precedenti che hanno evidenziato risultati promettenti, inclusi 0,165% U3O8 su 2,0 metri.
Skyharbour Resources (SYHBF) anuncia que su socio Terra Clean Energy ha comenzado a movilizar personal y equipos para un extenso programa de perforación invernal en el South Falcon East Uranium Project. El programa consistirá en hasta 2,500 metros de perforación, centrándose en expandir el depósito de uranio Fraser Lakes B.
El proyecto, ubicado a 18 km fuera de la cuenca de Athabasca y a 50 km al este de la planta de uranio Key Lake, está bajo un acuerdo de opción donde Terra puede obtener un interés del 75% financiando 10.5 millones de CAD en exploración y pagando a Skyharbour 11.1 millones de CAD en efectivo (de los cuales 6.5 millones pueden ser saldados en acciones).
El programa de perforación inaugural de Terra en 2024 confirmó pegmatitas mineralizadas de uranio y paragneiss pelítico grafítico a lo largo del conductor de Way Lake. El programa de 2025 tiene como objetivo extender la huella mineralizada y probar objetivos cercanos, con perforaciones anteriores que destacaron resultados prometedores, incluyendo 0.165% U3O8 sobre 2.0 metros.
Skyharbour Resources (SYHBF)는 파트너 Terra Clean Energy가 South Falcon East Uranium Project에서 광범위한 겨울 시추 프로그램을 위해 인력과 장비를 동원하기 시작했다고 발표했습니다. 이 프로그램은 최대 2,500미터의 시추로 구성되며, Fraser Lakes B 우라늄 매장량의 확장을 목표로 하고 있습니다.
이 프로젝트는 Athabasca 분지에서 18km 떨어진 곳과 Key Lake 우라늄 공장에서 동쪽으로 50km 떨어진 곳에 위치하고 있으며, Terra는 10.5백만 CAD의 탐사 비용을 지원하고 Skyharbour에 11.1백만 CAD의 현금을 지불함으로써 75%의 지분을 획득할 수 있는 옵션 계약 하에 있습니다 (그 중 6.5백만은 주식으로 정산할 수 있습니다).
Terra의 2024년 첫 시추 프로그램은 Way Lake 도관을 따라 우라늄 광물화된 페그마타이트와 흑연성 펠리틱 파라그네이스를 확인했습니다. 2025년 프로그램은 광물화된 발자국을 확장하고 인근 목표를 시험하는 것을 목표로 하며, 이전 시추에서 2.0미터에 걸쳐 0.165% U3O8와 같은 유망한 결과가 강조되었습니다.
Skyharbour Resources (SYHBF) annonce que son partenaire Terra Clean Energy a commencé à mobiliser des équipes et du matériel pour un vaste programme de forage hivernal au South Falcon East Uranium Project. Le programme comprendra jusqu'à 2 500 mètres de forage, se concentrant sur l'expansion du gisement d'uranium Fraser Lakes B.
Le projet, situé à 18 km à l'extérieur du bassin d'Athabasca et à 50 km à l'est de l'usine d'uranium Key Lake, est sous un accord d'option permettant à Terra d'acquérir un intérêt de 75 % en finançant 10,5 millions CAD en exploration et en payant à Skyharbour 11,1 millions CAD en espèces (dont 6,5 millions peuvent être réglés en actions).
Le programme de forage inaugural de Terra en 2024 a confirmé des pegmatites minéralisées en uranium et des paragneiss pelitique graphitique le long du conducteur de Way Lake. Le programme 2025 vise à étendre l'empreinte minéralisée et à tester des cibles voisines, les forages précédents ayant mis en évidence des résultats prometteurs, dont 0,165 % U3O8 sur 2,0 mètres.
Skyharbour Resources (SYHBF) gibt bekannt, dass der Partner Terra Clean Energy mit der Mobilisierung von Personal und Ausrüstung für ein umfangreiches Winterbohrprogramm am South Falcon East Uranium Project begonnen hat. Das Programm wird bis zu 2.500 Meter Bohrungen umfassen und sich auf die Erweiterung des Uranvorkommens Fraser Lakes B konzentrieren.
Das Projekt, das 18 km außerhalb des Athabasca-Beckens und 50 km östlich der Uranmühle Key Lake liegt, unterliegt einem Optionsvertrag, wonach Terra 75% Interesse erwerben kann, indem es 10,5 Millionen CAD in Exploration investiert und Skyharbour 11,1 Millionen CAD in bar bezahlt (von denen 6,5 Millionen in Aktien beglichen werden können).
Das erste Bohrprogramm von Terra 2024 bestätigte mineralisierte Pegmatite und graphitische pelitische Paragneise entlang des Way Lake Leiters. Das Programm 2025 zielt darauf ab, die mineralisierte Fläche zu erweitern und nahegelegene Ziele zu testen, wobei frühere Bohrungen vielversprechende Ergebnisse zeigten, darunter 0,165% U3O8 über 2,0 Meter.
- Option agreement worth CAD $21.6M in total value (CAD $10.5M in exploration + CAD $11.1M in payments)
- Previous drilling showed high-grade results (0.165% U3O8 over 2.0 metres)
- Project location near Key Lake uranium mill provides strategic advantage
- Mineralization remains open in all directions, indicating expansion potential
- None.
Vancouver, BC, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Terra Clean Energy Corp. (“Terra”, previously Tisdale Clean Energy) has announced the mobilization of crew and equipment at the South Falcon East Uranium Project which hosts the Fraser Lakes B Uranium Deposit. The South Falcon Project lies 18km outside the edge of the Athabasca Basin, approximately 50 km East of the Key Lake uranium mill and former mine. Skyharbour optioned the Project to Terra and under the Option Agreement assuming the
Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1
Mobilization of crew and equipment has commenced for an extensive winter drill program consisting of up to 2,500 meters of drilling. The field program will be executed by Terralogic Exploration Inc. under the supervision of Brett Lavigne, Project Manager with TerraLogic Exploration and C. Trevor Perkins, VP of Exploration for Terra Clean Energy Corp.
Terra’s inaugural drill program in early 2024 (news release dated April 1, 2024) at South Falcon East confirmed the presence of uranium mineralized pegmatites and graphitic pelitic paragneiss along the Way Lake Conductor. Graphitic pelitic paragneiss are a key lithology associated with uranium deposits within the eastern Athabasca Basin, and their presence at the Fraser Lakes B deposit is a good indication of the potential for high-grade basement-hosted unconformity related uranium mineralization, in addition to the known pegmatite/alaskite-hosted uranium mineralization at the deposit.
The priority of the Winter 2025 program is to expand on the Winter 2024 program by extending the mineralized footprint associated with the Fraser Lakes B Uranium Deposit and test nearby targets with prospective alteration and structure identified in historical drilling. Modeling of the existing data indicates the presence of a north-northwest trending structure crosscutting the way Lake conductor through the Fraser Lakes B deposit. The presence of this structural intersection with the Way Lake conductor and structure bodes well for a scenario where remobilized uranium mineralization can be concentrated at this area resulting in a higher-grade zone within the overall deposit. Efforts will be made to locate and characterize this structural trap and test the model as this is the best scenario for a high-grade unconformity related basement hosted uranium deposit.
2025 Drill Target Areas at the South Falcon East Uranium Project:
https://www.skyharbourltd.com/_resources/images/2025-Drill-Target-areas-at-the-south-Falcon-East-Uranium-Project.png
The infill and step out drilling planned at Fraser Lake B will confirm the presence and continuity of existing mineralization and expand the footprint of the deposit; currently the mineralization is open both down dip and along strike. The results of infill and step-out drilling will aid in preparation of an updated NI 43-101 compliant resource estimate and deposit model for Fraser Lakes B. The upgraded resource will also integrate other results not included in the historical resource estimate, including higher-grade mineralization encountered to date at Fraser Lakes B, intersected in drillhole FP-15-05. FP-15-05 returned
While the Fraser Lakes B uranium deposit will remain a primary focus of early efforts on the property, Terra has ample additional drill-ready targets along the Way Lake conductor at South Falcon East. This includes the T-Bone Lake area, just north of Fraser Lakes B, where limited drilling encountered highly prospective clay alteration, anomalous radioactivity, and uranium mineralization (including up to
“We are very happy to be getting back on the ground at South Falcon East and continue what we started in 2024”, commented Trevor Perkins, VP Exploration for Terra Clean Energy Corp. “We are eager to expand the existing deposit as well as characterize and explore the identified north-northwest structure and related complexity” continued Mr. Perkins. “This is presenting the ideal structural scenario where uranium sourced from the mineralized pegmatites and surrounding rock can be concentrated and give us a high-grade basement deposit. This has been seen at other deposits, and we want to find it here.”
“We have a unique and exceptional exploration opportunity that includes continuing to expand the Fraser Lakes B Uranium Deposit which is open in all directions and at depth as well as pursuing high-grade basement hosted uranium deposits.” “The team is very excited about the prospects identified and eager to unlock the abundance of value for shareholders.”
South Falcon East Project Summary:
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and covers approximately 12,464 hectares. It lies 18 kilometres outside the Athabasca Basin, approximately 50 kilometres east of the Key Lake Mine. Historical exploration at the South Falcon East Project identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle cross-structure adjacent to a 65 km long EM conductor.
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 Sedar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.
About Terra Clean Energy Corp.:
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
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 thirty-six projects covering over 614,000 hectares (over 1.5 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 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; 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; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to 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_2024-11-21_v1.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
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The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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, including the Private Placement. 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, regulatory approvals, 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.
FAQ
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