TSX-V Trading Symbol: SYH
Email: info@skyharbourltd.com
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
March 3, 2015
NEWS RELEASE
Vancouver, BC -
Skyharbour Resources Ltd. (TSX-V: SYH) (OTC Grey: SYHBF)
(Frankfurt: SC1N) (the "Company") is pleased to announce the
commencement of its winter exploration program at the Preston
Uranium Property being explored by the Western Athabasca Syndicate
(the "Syndicate"). The Preston Property is strategically located
proximal to Fission Uranium's shallow, high grade Triple R deposit
as well as NexGen Energy's Arrow discovery in the Patterson Lake
region in Northwestern Saskatchewan.
Preston Uranium
Property Map and Regional Exploration Corridors:
http://skyharbourltd.com/_resources/SYH_Regional_Corridors.jpg
The winter field program has
commenced with a 1,200 station ground-based gravity survey over
three targets in the Depper Lake area including the FIN, FSA and
Dixon targets. MWH Geo-Surveys Ltd. has been commissioned to
complete the survey. The targets are located within five kilometres
south and east of NexGen's Fury target area as well as Fission's
Far East Zone where anomalous radioactivity was discovered in drill
hole PLS14-255 in August of 2014. NexGen is exploring gravity
anomalies on the Fury target that are coincident with conductors
which trend onto the Syndicate's Preston Property from the
north.
Preston Uranium
Property - Gravity Survey Target Areas:
http://skyharbourltd.com/_resources/pdf/NR_Map_20150216_v2.pdf
Combined results of the 2014 and
2015 gravity surveys will be used to prioritize and refine targets
for additional 2015 surveys as well as drilling. The eastern
targets (FSA, Canoe, and Swoosh) have already been identified as
high priority targets based on 2014 exploration work and will be
subject to additional RadonEx and ground based electromagnetic
surveys in March-April of this year. The RadonEx survey will
commence by the second week of March and focus on target evaluation
and refinement at the FSA, Swoosh, FIN and Canoe targets. A
previous RadonEx survey commissioned by the Syndicate in 2014
returned strongly anomalous radon results of up to 139 pCi/L (RIW)
associated with coincident electromagnetic, magnetic and gravity
geophysical anomalies at the Canoe target. An important component
of the 2015 RadonEx survey will be to infill and refine future
drill locations at this highly prospective target.
Preston Uranium
Property - 2015 Winter Program Target Areas:
http://skyharbourltd.com/_resources/pdf/NR_Map_20150218.pdf
The Syndicate has carried out one
of the largest regional exploration programs in the relatively
underexplored south-western side of the Athabasca Basin over the
last eighteen months. A total of approx. $3.75 million in
expenditures on the Preston Uranium Property has been incurred
including ground gravity, airborne and ground EM and magnetics,
radon, soil, silt, biogeochem, lake sediment, and geological
mapping surveys, as well as boulder prospecting and a first pass
diamond drill program. Fifteen high-priority drill target areas
associated with eight prospective exploration corridors have been
successfully delineated through this methodical, multi-phased
exploration initiative which has culminated in an extensive,
proprietary geological database for the project area. Skyharbour is
the operator of the Western Athabasca Syndicate.
Preston Uranium
Property High Priority Target Areas:
http://skyharbourltd.com/_resources/SYH_Feb2014_Exploration.jpg
The 246,643 hectare Preston
Uranium Property is the largest individual property proximal to
Fission Uranium's Triple R deposit and the recent discovery made by
NexGen Energy on the Rook-1 Project. The tremendous potential of
the area is highlighted by the recently reported results from
Fission Uranium's Patterson Lake South property with the
announcement of the large, shallow, high grade Triple R deposit,
which includes 79.6 million pounds at 1.58% U3O8 indicated and 25.9
million pounds at 1.30% U3O8 inferred (See Fission Uranium news
release January 9, 2015).
Management
cautions, mineralization present on proximal properties is not
necessarily indicative of mineralization on the Syndicate's
Property.
Falcon Point
Uranium Property Update:
Skyharbour is preparing for a
winter drill program at its 100% owned Falcon Point (previously Way
Lake) Uranium Project which will commence in March. This will be
the Company's first work program at Falcon Point since acquiring
the project from Denison in the summer of 2014. Skyharbour has
received a recommendations report for additional work and drilling
on the project from its geological team and drill permitting is
underway. The program will consist of diamond drilling
high-priority targets including areas in and around the current
uranium resource at the JNR Fraser Lakes target. Additional details
for the program are forthcoming.
Falcon Point
Uranium Project Geophysics Map:
http://skyharbourltd.com/_resources/SYH_Way_Lake_Zones_Map.jpg
Jordan Trimble, President and CEO
of Skyharbour Resources, states: "With the recent closing of a
$1.25 million financing, the Company is fully financed for its
upcoming exploration programs in the Basin. Skyharbour and the
Syndicate will continue to advance the Preston Project using a
systematic and proven exploration methodology that has led to
nearby discoveries at Fission's PLS and NexGen's Arrow. Later this
month, the Company will commence its first drill program at Falcon
Point since acquiring the project from Denison last year. The more
advanced stage project boasts a shallow uranium and thorium deposit
with significant exploration and discovery upside potential."
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 Richard Kusmirski, P.Geo., M.Sc.,
Skyharbour's Head Technical Advisor and a Director, as well as a
Qualified Person.
About Skyharbour
Resources Ltd.:
Skyharbour Resources Ltd. is a
uranium exploration company and the operator of the Western
Athabasca Syndicate which controls a large, geologically
prospective land package consisting of five properties in the
Athabasca Basin of Saskatchewan. Skyharbour also owns a 100%
interest in the Falcon Point (formerly Way Lake) Uranium Project on
the east side of the Basin which hosts an NI 43-101 compliant
inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and
5.3 million pounds of ThO2 at 0.023%. The Company owns a 60%
interest in the Mann Lake Uranium project on the east side of the
Basin strategically located 25 km southwest of Cameco's McArthur
River Mine. 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.
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:
Don Myers
Director
Skyharbour Resources Ltd.
Telephone: 604-687-3376
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.
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. 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, 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.
Suite 1610 - 777 Dunsmuir Street,
Vancouver, BC, Canada, V7Y 1K4
www.skyharbourltd.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Skyharbour Resources Ltd. via Globenewswire
HUG#1898846
Skyharbour Resources (TSXV:SYH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Skyharbour Resources (TSXV:SYH)
Historical Stock Chart
From Apr 2023 to Apr 2024