Grants Lucky Strike a 25% Earn-In Option on 400,000 Acre Land Package in Patterson Lake and East Athabasca Areas of Northern Saskatchewan
Six of the properties consisting of approximately 388,000 acres of prospective ground are strategically located to the north, south, east and west of the Alpha Minerals (CVE:AMW) and Fission Uranium's (CVE:FCU) Patterson Lake South ("PLS") uranium discovery on the western flank of the Athabasca Basin. The properties were acquired by Skyharbour for their proximity to the PLS discovery and interpreted favourable geology for the occurrence of PLS style uranium mineralization. Skyharbour's land position is one of the largest in the Patterson Lake area.
The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the new, shallow discoveries made by Alpha and Fission which includes the recently reported drill interval of 6.26% U3O8 over 49.5 metres in drill hole PLS 13-053. This mineralized zone is located approximately 400 metres to the northeast of discovery hole PLS 12-024 which returned 2.49% U3O8 over 12.5 metres. Consistent high grade, near surface U3O8 assays from Alpha and Fission demonstrates the potential for high-grade uranium mineralization on the margins of the underexplored western side of the Athabasca Basin. There are still areas in the Athabasca region that are highly prospective and underexplored for high-grade uranium as illustrated by Alpha's and Fission's recent discovery.
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About Skyharbour Resources Ltd.
Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) is a preeminent uranium and thorium exploration Company with projects located in the prolific Athabasca Basin of Saskatchewan, Canada which was ranked as the best mining jurisdiction to work in globally by the Fraser Institute in 2017. The Company has been acquiring top tier exploration projects at attractive valuations culminating in five uranium properties totalling approx. 200,000 hectares throughout the Basin. In July 2016, Skyharbour secured an option from Denison Mines (TSE:DML) to acquire a 100% interest in the Moore Uranium Project, now the flagship project, which hosts the high grade Maverick Zone. The Company is run by a strong management and geological team who are major shareholders with extensive capital markets experience as well as focused uranium exploration expertise in the Basin.
Skyharbour owns 100% of the 35,705 hectare Moore Uranium Project located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison's Wheeler River project, and 39 kilometres south of Cameco's McArthur River mine. Unconformity-hosted uranium mineralization was discovered on the property at the Maverick Zone in the early 2000's at relatively shallow depths. Skyharbour has carried out several drill programs with multiple holes intersecting high grade uranium mineralization over the 4km long Maverick corridor. Drill results include 20.8% U3O8 over 1.5m at 264m depth in hole ML-199, 9.12% U3O8 over 1.4m at 278m in hole ML-202 and 5.29% over 2.5m U3O8 at 279m depth in hole ML-200. Hole ML-202 represents a new high-grade discovery and illustrates the strong discovery potential of additional high grade lenses along strike. The Company is planning additional drill programs to expand the known high grade Maverick Zone and to test basement-hosted targets as well as regional targets.
Skyharbour Resources Ltd.