Skyharbour and JV Partner Orano Announce Completion of Geophysics and Upcoming Commencement of Field Program at Preston Uranium Project

Skyharbour and JV Partner Orano Announce Completion of Geophysics and Upcoming Commencement of Field Program at Preston Uranium Project

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its joint-venture partner company, Orano Canada Inc. ("Orano"), has recently completed a geophysical program at the 49,635 hectare Preston Uranium Project ("Preston" or the "Property") located in the western Athabasca Basin, Saskatchewan, Canada. The program included a ground electromagnetic survey (ML-TEM) and a ground gravity survey. Orano is now preparing for a Spatiotemporal Geochemical Hydrocarbons (SGH) soil sampling program that will take place this summer at the project.

Location Map of Preston Project:
https://www.skyharbourltd.com/_resources/maps/Sky_Preston_20211209.jpg

The 2024 field programs mark the first exploration programs carried out by Orano at Preston since 2020. The recently completed geophysics covered 35.6 km of ground Moving-Loop Transient ElectroMagnetic (ML-TEM), covering the Preston West target where there is a known conductor, along with the Preston Far West target where a reconnaissance survey was conducted. The ground gravity survey consisted of 2,295 stations and covered an area along the FSAN and FSANE trends. The final geophysical data from this field program is pending.

An SGH soil sampling program with over 1,100 samples planned is set to commence this summer with additional news forthcoming. The SGH program will cover a large area and is a cost-effective, innovative exploration technique being used in the Athabasca Basin to vector in on uranium showings associated with certain hydrocarbons. The total budget for the multi-phased 2024 campaign is approximately CAD $850,000 with Orano as the operator and Skyharbour as a minority, participating partner in the project.

Preston Uranium Project:

In March 2017, Skyharbour signed an option agreement with Orano (formerly AREVA Resources Inc.) that provided Orano an earn-in option to acquire a majority working interest in the 49,635 hectare Preston Uranium Project. The significant potential of the Project has been highlighted by past discoveries in the area by NexGen Energy Ltd. (Arrow deposit), Fission Uranium Corp. (Triple R deposit), and F3 Uranium Corp. (PLN discovery). Exploration at the Project has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as exploratory drill programs. Over a dozen high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through these methodical, multiphased exploration initiatives, which have culminated in an extensive, proprietary geological database for the project area.

Joint Venture and Strategic Partnership:

In early 2021, Orano fulfilled their earn-in option interest in the project through funding exploration expenditures and making cash payments. After a total of CAD $4.8 million in exploration expenditures having been spent on the Project, Orano formed a joint venture with Skyharbour and Dixie Gold for the future advancement and development of the Project. Orano now holds a 51% (fifty-one percent) interest in the joint venture, with the remaining interest split evenly between Skyharbour and Dixie Gold with each company retaining a 24.5% (twenty-four and a half percent) interest in the joint venture.

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 Orano Canada Inc.:

Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a leading producer of uranium, accounting for the processing of more than 15 million pounds of uranium concentrate in Canada in 2023. Orano will celebrate 60 years of exploring for, mining and milling uranium in Canada in 2024. Orano Canada is the operator of the McClean Lake uranium mill and a major partner in the Cigar Lake, McArthur River and Key Lake operations. The company employs over 450 people in Saskatchewan, including about 320 at the McClean Lake operation where over 46% of employees are self-declared Indigenous. As a sustainable uranium producer, Orano Canada is committed to safety, environmental protection and contributing to the prosperity and well-being of neighbouring communities.

Orano Canada Inc. is a subsidiary of the multinational Orano group. As a recognized international operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group's 17,000 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.

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 twenty-nine projects, ten of which are drill-ready, covering over 587,000 hectares (over 1.4 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% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 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., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; North Shore Uranium at the 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. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $33 million in partner-funded exploration expenditures, over $27 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.

Skyharbour's Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.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
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
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.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

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, including the Private Placement. 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, regulatory approvals, 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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

SYH:CA
Skyharbour Resources

Skyharbour Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Skyharbour Intersects 7.30% U3O8 over 3.0m within 5.0m of 4.61% U3O8 at High-Grade Moore Project and Plans for Upcoming Fully-Funded Summer Drill Programs

Skyharbour Intersects 7.30% U3O8 over 3.0m within 5.0m of 4.61% U3O8 at High-Grade Moore Project and Plans for Upcoming Fully-Funded Summer Drill Programs

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce assay results from its 2024 winter diamond drilling program which totaled 2,864 metres in nine holes at its 100% owned, 35,705 hectare Moore Uranium Project. The project is located approximately 15 kilometres east of Denison Mine's Wheeler River project and proximal to regional infrastructure for Cameco's Key Lake and McArthur River operations in the Athabasca Basin, Saskatchewan. A highlight from this program was from hole ML24-08 which intersected 5.0 metres of 4.61% U 3 O 8 from a relatively shallow downhole depth of 265.5 metres to 270.5 metres including 10.19% U 3 O 8 over 1.0 metre at the Main Maverick Zone. Skyharbour plans to continue advancing Moore through additional drilling in 2024 in conjunction with a fully-funded summer drill program to follow-up on the recently reported Fork target uranium discovery at the Company's adjacent Russell Lake Uranium Project. The combined drill campaign this summer is planned to consist of approximately 7,000 - 8,000 metres with details forthcoming.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Azincourt Energy Completes East Preston Winter Drill Program, Athabasca Basin, Saskatchewam

Azincourt Energy Completes East Preston Winter Drill Program, Athabasca Basin, Saskatchewam

AZINCOURT ENERGY CORP. ("Azincourt" or the "Company") (TSX.V: AAZ, OTCQB: AZURF) is pleased to announce that it has completed the winter 2024 diamond drill program at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada.

The 2024 drill program consisted of 1,086 meters of drilling in four diamond drill holes. Drilling commenced on March 29 th and was complete on April 19 th . Logging of drill core, sampling, and demobilization of all drill equipment, helicopter, and crews was complete by the end of April. The priority for the 2024 drill program was to follow up on the clay alteration zone and elevated uranium that was identified in the winter of 2023 with a focus on the area of transition between the K and H Zones (Figure 2).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour's Partner Azincourt Completes Winter Drill Program at East Preston Uranium Project

Skyharbour's Partner Azincourt Completes Winter Drill Program at East Preston Uranium Project

Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company") partner company Azincourt Energy ("Azincourt"), is pleased to announce that it has completed the 2024 winter drill program at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada. The 2024 winter drill program consisted of 1,086 metres of drilling in four diamond drill holes. The priority for the 2024 drill program was to follow up on the clay alteration zone and elevated uranium that was identified in the winter of 2023 with a focus on the area of transition between the K and H Zones.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour's Partner Company North Shore Uranium Reports Drill Results at the Falcon Project with Uranium Mineralization Confirmed at Two Targets

Skyharbour's Partner Company North Shore Uranium Reports Drill Results at the Falcon Project with Uranium Mineralization Confirmed at Two Targets

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has collected multiple samples from two of the first three uranium prospects drilled at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan, returning anomalous uranium values of greater than 300 ppm U 3 O 8 and up to a maximum of 572 ppm U 3 O 8 (Table 1). North Shore is now planning future exploration programs on the Property.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour and JV Partner Orano Commence 2024 Exploration Programs at the Preston Uranium Project 

Skyharbour and JV Partner Orano Commence 2024 Exploration Programs at the Preston Uranium Project 

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHB F ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its joint-venture partner company, Orano Canada Inc. ("Orano"), has commenced a comprehensive 2024 field campaign at the 49,635 hectare Preston Uranium Project ("Preston" or the "Property") located in the western Athabasca Basin, Saskatchewan, Canada. The program will include a ground electromagnetic survey (ML-TEM), a ground gravity survey, and a Spatiotemporal Geochemical Hydrocarbons (SGH) soil sampling program.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Baselode Reports High Levels of Radioactivity Over Wide Intercepts at ACKIO Uranium Project

Baselode Reports High Levels of Radioactivity Over Wide Intercepts at ACKIO Uranium Project

  • Over 30 metres of continuous radioactivity, such as 907 cps over 34 m, including 9,173 cps over 0.4 m
  • AK24-118 and AK24-119 returned the widest radioactivity levels in Pod 6
  • All three drill holes with over 20 metres of cumulative thickness of radioactivity
  • The second drill for regional exploration targets has now mobilized to site

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce radioactivity results from the first three diamond drill holes within the ACKIO ("ACKIO") uranium prospect of the Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan (Figure 1).

"AK24-119's results rank as one of the top 10 best drill hole radioactivity intersections at ACKIO, making this a unique drill hole. Previous drill hole AK22-035 intersected 0.54% U3O8 over 7.3 m (see Baselode News Release dated September 12, 2022) in Pod 6, and we are seeing similar levels of radioactivity within AK24-118 and AK24-119 but over broader widths within the same Pod, suggesting mineralization remains open in this area. ACKIO has continued to deliver encouraging results since the discovery in 2021, and we expect more promising results to follow.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Redefines Turnor Lake Project with Latest Technology and Advanced Data Integration

Purepoint Uranium Redefines Turnor Lake Project with Latest Technology and Advanced Data Integration

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced significant exploration advancements at its Turnor Lake project, located in the prolific Athabasca Basin of Northern Saskatchewan. After nearly 15 years since the last major drilling campaign, Turnor Lake is being revitalized with a completely fresh geological and geophysical outlook, positioning it as a potential host for the next major uranium discovery in Saskatchewan. A drill program is currently underway at Turnor Lake, aiming to explore and define the extent of uranium mineralization.

The Turnor Lake project spans 9,705 hectares across vital structural and conductive corridors, aligning with the region's significant uranium discoveries and historical high-grade deposits. Our exploration revitalization is driven by the application of advanced technology and methodologies while integrating a wealth of historical data with ongoing real-time drilling insights.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nuclear Fuels Appoints Gregory Huffman as Chief Executive Officer

Nuclear Fuels Appoints Gregory Huffman as Chief Executive Officer

CSE:NF
OTCQX:NFUNF

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") today announced the appointment of Mr. Gregory Huffman as Chief Executive Officer, President and Director of the Company effective immediately. Mr. Huffman brings over two decades of mining analysis and equity finance experience to the Company, with a focus on uranium and other energy-related metals.  In connection with his appointment, Mr. Huffman will purchase by way of private placement a total of 2,000,000 units at $0.35 per unit, each consisting of a common share and a half of a share warrant, with each whole warrant exercisable at a price of $0.55 for two years.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blue Sky Uranium Launches Strategic Exploration Program for In-Situ Recovery Uranium Targets in Argentina with Two New Project Acquisitions

Blue Sky Uranium Launches Strategic Exploration Program for In-Situ Recovery Uranium Targets in Argentina with Two New Project Acquisitions

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce the acquisition of two new projects totaling nearly 80,000 hectares that are prospective for discovery of uranium deposits amenable to In Situ Recovery (" ISR ") in the Neuquén Basin of Argentina (see Figure 1 ). These acquisitions represent a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Baselode Now Drilling at ACKIO Uranium Prospect

Baselode Now Drilling at ACKIO Uranium Prospect

  • Up to 16,000 metre project-wide drill program, the second largest drill program on Hook project
  • The second drill is anticipated to start in two weeks

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce diamond drilling has started on the ACKIO ("ACKIO") uranium prospect within the Hook project ("Hook") in the Athabasca Basin area of northern Saskatchewan (Figure 1).

"We are excited to be finally be back at our flagship Hook project, where we will be looking to expand upon our near-surface uranium discovery ACKIO. Additional drilling on ACKIO offers excellent prospects for expanding the known zones and making new discoveries along strike and depth.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - BSK

Canadian Investment Regulatory Organization Trade Resumption - BSK

Trading resumes in:

Company: Blue Sky Uranium Corp.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Skyharbour Resources

Skyharbour Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×