Skyharbour Begins Drilling at Falcon Point Uranium and Thorium Project in the Athabasca Basin

- March 24th, 2015

Skyharbour Resources Ltd. (TSXV:SYH) announced it has began its diamond drilling program at its 100 percent owned Falcon Point uranium and thorium project in the Athabasca Basin, Saskatchewan.

Skyharbour Resources Ltd. (TSXV:SYH) announced it has began its diamond drilling program at its 100 percent owned Falcon Point uranium and thorium project in the Athabasca Basin, Saskatchewan.

As quoted in the press release:

The drill program will consist of drill testing high-priority targets in and around the current uranium and thorium resource at the JNR Fraser Lakes Zone B deposit. This will be the Company’s first work program at Falcon Point (previously called Way Lake) since acquiring the Property from Denison Mines in the summer of 2014.

The deposit subcrops and was not tested below 150 metrers vertical. It is open along strike and at depth, and consists of several zones of moderately dipping, multiple-stacked uranium and thorium mineralized horizons. Geological and geochemical features at the deposit show distinct similarities to high-grade, basement-hosted uranium deposits in the Athabasca Basin such as Eagle Point, Millennium, P-Patch and Roughrider. Skyharbour’s objective is to discover higher grade uranium mineralization proximal to the current lower grade mineralized envelope present at the JNR Fraser Lakes deposit. The current drill program will test for depth extensions to the known mineralization which is associated with a conductive zone located on the western limb of a prominent fold that closes to the north. Additionally, it will be the first test of the conductive eastern limb of the structure in an area where it is intersected by a regional scale east north-east trending fault.

Jordan Trimble, president and CEO of Skyharbour, commented:

The commencement of our first diamond drill program at Falcon Point is a key milestone for Skyharbour and its shareholders. The Falcon Point Project hosts a near surface, NI 43-101 inferred uranium and thorium deposit with resource expansion potential as well as high grade discovery potential. The Company is funded to complete this initial drill program as well as the ongoing exploration program at the Preston Project on the west side of the Basin which should collectively provide ample news flow over the coming months.

Click here to read the full Skyharbour Resources Ltd. (TSXV:SYH) press release.

 

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