Malibu, CA, Mar 2, 2022 AEST (ABN Newswire) - Skyharbour Resources Ltd. (CVE:SYH) (SYHBF:OTCMKTS) (SC1P:FRA) is pleased to announce that the Company has begun its winter 2022 diamond drilling program at its 100% owned Moore Uranium Project. The project comprises 35,705 hectares approximately 15 kilometres east of Denison Mine's Wheeler River project and is proximal to regional infrastructure for Cameco's Key Lake and McArthur River operations in the Athabasca Basin, Saskatchewan. The program will consist of a minimum of 2,500 metres in seven to nine drill holes and is designed to follow up on the successes of the 2021 summer/fall drilling program in the Maverick East Zone and the Grid 19 target area, as well as to investigate new targets at the Viper area on the 4.7 km Maverick Structural Corridor. Substantial portions of the Maverick corridor remain to be systematically drill tested leaving robust discovery potential along strike as well as at depth in the basement rocks.
Join Ellis Martin for a conversation with Jordan Trimble, the President and Chief Executive Officer of Skyharbour Resources. Skyharbour is a preeminent uranium and thorium exploration company with an extensive portfolio located in the prolific Athabasca Basin of Saskatchewan, Canada. The company holds 14 projects over a land package of nearly 950,000 acres with several joint venture partners involved. Skyharbour is well positioned to benefit from improving uranium market fundamentals. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approximately 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration project with high grade uranium mineralization at the Maverick Zone.
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About Skyharbour Resources Ltd.
Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) 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 twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour's recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.
Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
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.