Skyharbour’s Partner Company Basin Uranium Corp. Announces Completion of Geophysical Surveys at Mann Lake
Vancouver, BC, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) partner company, Basin Uranium Corp. (“Basin Uranium”) is pleased to announce the completion of a ground based gravity survey and a heliborne Mobile MT Electromagnetic and Magnetic survey at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit.
Mann Lake Uranium Project
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The recently collected and interpreted geophysical data has generated new drill targets over prospective areas on the Mann Lake property. The Phase two drill program will test the potential for uranium mineralization along interpreted lineament or structural corridors at the unconformity and in the basement, that correspond with resistivity and magnetic lows and the margins of gravity lows.
“The summer geophysical programs identified a number of new prospective targets, in addition to refining the resolution and coverage over the Mann Lake claims.” commented Mike Blady, CEO of Basin Uranium. “With the additional data, our focus will be on coincident geophysical anomalies that sum together to provide the most fertile geophysical environment along with incorporating known uranium mineralization from our Phase one drilling.”
Mobile MT Electromagnetic and Magnetic Survey:
The Mobile MT survey successfully identified conductive zones and structures along the unconformity contact and deeper in the basement. These conductive zones are prospective for graphite and/or its breakdown products, which are considered to be responsible for uranium mineralization. In addition, deep structures within the basement allow for fluid migration, which can create pathways for the precipitation of uranium mineralization along the unconformity contact and within the basement rocks.
The purpose of the Mobile MT survey was to identify deep structures along the unconformity and in the basement, including possible alteration and mineralization zones. A total of three production flights were flown to complete 376 line-kilometers of the survey over a 70 km2 area. The main conductors along the unconformity contact are shown as resistivity lows (blue) in the accompanying map (Figure 1). The Mobile MT apparent conductivity and magnetics data have also delineated NE and NW trending prospective structures that cross-cut the basement throughout the property (Figure 2).
Figure 1: Mobile MT Geophysics – EM Inverted Resistivity
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Figure 2: Mobile MT Geophysics – Magnetics
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Gravity Survey:
Multiple gravity low anomalies are defined along the southern and south-eastern portions of the tenure. Gravity lows are prospective in uranium exploration, as they can correlate to a de-silicification of the rocks that may indicate the presence of a fault structures, which are prospective for graphite and/or uranium mineralization (Figure 3).
Figure 3: Mobile MT Geophysics – Gravity
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MWH Geo-Surveys completed a 2539 station gravity survey over the southern portion of the Mann Lake tenure in July 2022. Results were merged with the historic (2006, 2008) gravity survey data, to complete the coverage over the central and southern portions of the property.
About Mann Lake:
Skyharbour has entered into an Option Agreement (the “Agreement”) with Basin Uranium whereby Basin Uranium has an earn-in option to acquire a
The Mann Lake Uranium Project is strategically located 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast of Cameco's Millennium uranium deposit. The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (
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.
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 fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in
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:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.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
Corporate Development and Communications
Skyharbour Resources Ltd.
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