Skyharbour's Partner Company Medaro Mining Commences Airborne Geophysical Survey at Yurchison Uranium Property, Saskatchewan

Skyharbour's Partner Company Medaro Mining Commences Airborne Geophysical Survey at Yurchison Uranium Property, Saskatchewan

Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the "Company") partner company Medaro Mining ("Medaro") is pleased to announce that it has commenced an airborne geophysical survey at its Yurichson Uranium Property in Saskatchewan. Medaro has contracted Terraquest Ltd. of Markham, Ontario to complete a helicopter-borne aeromagnetic, horizontal gradiometric, radiometric, and VLF-EM surveys on the Property. A total of 7,117 line-kilometers of survey is being completed at 50 m line spacing using a helicopter.

Location Map of Yurchison Project:
https://www.skyharbourltd.com/_resources/maps/Sky_Yurchison_20211209.jpg

Survey Highlights   :

  • Total 7,117 line-km at 50 m line spacing; with 1,029 lines and 19 tie lines; line azimuth 135°/315°; tie line azimuth 045°/225°
  • High Resolution Aeromagnetics (Fixed Nose boom for safe and low acquisition)
  • Radiometric (single crystal pack)
  • Horizontal Gradiometer - Fixed side booms
  • Matrix Digital very low frequency - electromagnetic (VLF-EM)
  • Aircraft AStar 350 B2; with terrain clearance 25m-30m drape mode

Figure   1:   Geophysical   Flight Path:
https://skyharbourltd.com/_resources/images/Medaro-Geophysical-Survey-Flight-Path.png

The survey crew is based at KM147 Lamp Lighters Lodge, Saskatchewan, which is located near the Yurichson Property. The survey is expected to be completed over the next few weeks. Medaro will provide an update on the results of the survey as soon as available.

About Yurchison Uranium Project:

Historical prospecting near old trenches returned significant uranium (ranging from 0.09% to 0.30% U 3 O 8 ) and molybdenum (ranging from 2,500 ppm to 6,400 ppm Mo) mineralization in both outcrop and float samples. Two historical holes drilled beneath the trenches returned highly anomalous molybdenum values, up to 3,750 ppm and anomalous uranium values up to 240 ppm. The Property boasts strong discovery potential for both basement hosted uranium mineralization as well as copper, zinc, and molybdenum mineralization. Regionally, Rio Tinto entered into a $30 million, seven-year, option agreement with Forum Energy Metals Corp. to acquire an 80% stake in their Janice Lake property which is located on-strike to the southwest of the Property.

The Option Agreement:

Pursuant to the Agreement, Medaro may acquire an initial 70% interest in the Property by (i) issuing common shares of Medaro ("Shares") having an aggregate value of CAD $3,000,000; (ii) making aggregate cash payments of CAD $800,000; and (iii) incurring an aggregate of CAD $5,000,000 in exploration expenditures on the Property over a three year period. Once Medaro has earned an initial 70% interest in the Property, Medaro may acquire the remaining 30% interest in the Property, within 30 business days of earning the initial 70% interest, by (i) issuing Shares having a value of CAD $7,500,000, and (ii) making a cash payment of CAD $7,500,000.

Skyharbour will retain an NSR of two percent (2%) on 11 of the 12 claims with Medaro holding a buyback option whereby Medaro can purchase one percent (1%) of the NSR for CAD $1 million. A separate NSR of two percent (2%) on the other claim is payable to a third party (payable pro-rata based on ownership interest in the Property).

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 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 fifteen projects, ten of which are drill-ready, covering over 450,000 hectares 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 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 a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U 3 O 8 at 0.03% and 5.3 million pounds of ThO 2 at 0.023%.

Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.

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-20220324.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
Corporate Development and Communications
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 Resources (TSXV:SYH)

Skyharbour Resources


Keep reading...Show less
Skyharbour Enters into Agreement with Mustang Energy to Option its 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

Skyharbour Enters into Agreement with Mustang Energy to Option its 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has entered into an option agreement ("Agreement") with Mustang Energy Corp. (the "Optionee" or "Mustang"), whereby the Optionee may acquire a 75% interest in the Company's 914W Uranium Project (the "Property"). The Property consists of a total of one mineral claim covering approximately 1,260 hectares located in the Athabasca Basin, Northern Saskatchewan.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Mustang Energy Corp. Enters Option Agreement to Acquire Skyharbour's 914W Uranium Project and Welcomes Jordan Trimble as Strategic Advisor

Mustang Energy Corp. Enters Option Agreement to Acquire Skyharbour's 914W Uranium Project and Welcomes Jordan Trimble as Strategic Advisor

Mustang Energy Corp. (CSE:MEC, OTC:MECPF, FRA:92T) (" Mustang " or the " Company ") is excited to announce that it has entered into a strategic option agreement (the " Agreement ") with Skyharbour Resources Ltd. (TSX-V: SYH) (" Skyharbour ") dated November 12, 2024 to acquire an undivided 75% interest (the " Option ") in Skyharbour's 914W Uranium Project (the " 914W Project "), located in the Athabasca Basin of Northern Saskatchewan. The Option marks an important step for Mustang as it seeks to expand its presence in a promising uranium district. Additionally, Mustang is pleased to welcome Jordan Trimble, President and CEO of Skyharbour, as a Strategic Advisor to the Company, bringing valuable industry insights and expertise to Mustang's growing portfolio.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour Commences Fall Diamond Drilling Program at its Russell Lake Uranium Project, Saskatchewan

Skyharbour Commences Fall Diamond Drilling Program at its Russell Lake Uranium Project, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce the commencement of its fall diamond drilling program at the 73,294 hectare Russell Lake Uranium Project ("Russell" or the "Project"). The Project is 51% owned by Skyharbour as operator with joint-venture partner Rio Tinto Exploration Canada Inc. ("RTEC") owning the other 49%. It is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan with access to regional infrastructure including an all-weather road and powerline. Skyharbour is planning a 4,500-metre diamond drilling program in seven to nine holes at the project, building on the successful results from the drilling campaign completed earlier this year. The Company's geologists, along with a contracted drilling crew, are based at Skyharbour's exploration camp on the McArthur River-Key Lake haul road, situated within five kilometres of Denison Mines' Phoenix deposit at the Wheeler River Project.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour Enters into Agreements to Partner with Hatchet Uranium Corp. on Several of its Uranium Projects Located in the Athabasca Basin, Saskatchewan

Skyharbour Enters into Agreements to Partner with Hatchet Uranium Corp. on Several of its Uranium Projects Located in the Athabasca Basin, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has entered into agreements with a private arm's-length company, Hatchet Uranium Corp. (the "Hatchet"), whereby Hatchet may acquire an 80% interest in the Company's 9,339 ha Highway Uranium Property (the "Optioned Property") and a 100% interest, subject to a claw-back provision for Skyharbour, in the Company's Genie, Usam and CBXShoe Uranium Projects (the "Purchased Property") totalling 66,358 ha, all located in the Athabasca Basin, Northern Saskatchewan, Canada.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Hatchet Uranium Corp. Signs Agreements with Skyharbour Resources Ltd. on Five Uranium Projects Located Northeast of the Athabasca Basin, Saskatchewan

Hatchet Uranium Corp. Signs Agreements with Skyharbour Resources Ltd. on Five Uranium Projects Located Northeast of the Athabasca Basin, Saskatchewan

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTCQB: KVLQF; Frankfurt: KEQ0) today provided an update on developments concerning Hatchet Uranium Corp. ("HUC"), in which ValOre currently holds a 67.5% ownership interest ( CLICK HERE for ValOre news release on May 29, 2024, for HUC incorporation transaction details).

Hatchet Uranium Corp. has entered into agreements with Skyharbour Resources Ltd. ("Skyharbour"), whereby HUC may acquire an 80% interest in Skyharbour's 9,339 ha Highway Uranium Property (the "Optioned Highway Property") and a 100% interest, subject to a "claw-back" provision for Skyharbour, in Skyharbour's Genie, Usam and CBX/Shoe Uranium Projects (the "Purchased Properties") totalling 66,358 ha, all located peripheral to the Athabasca Basin, in northern Saskatchewan, Canada.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Nuclear Fuels Inc. to Attend the 50th Annual New Orleans Investment Conference

Nuclear Fuels Inc. to Attend the 50th Annual New Orleans Investment Conference

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce its participation at the upcoming New Orleans Investment Conference. Nuclear Fuels will give a corporate presentation at 6:00 pm CT on Friday, November 22nd at the Hilton New Orleans Riverside, in room Churchill B2, second floor.

About Nuclear Fuels Inc.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
NUCLEAR FUELS ANNOUNCES ADDITIONAL NON-BROKERED PRIVATE PLACEMENT WITH ENCORE ENERGY CORP AND STRATEGIC INVESTORS

NUCLEAR FUELS ANNOUNCES ADDITIONAL NON-BROKERED PRIVATE PLACEMENT WITH ENCORE ENERGY CORP AND STRATEGIC INVESTORS

Nuclear Fuels Inc. (CSE:NF | OTCQX:NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce a non-brokered private placement of 9,837,500 units (the "Units") for gross proceeds of $3,935,000 (the "Offering"). Each Unit will consist of one common share (a "Share') of the Company and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one common share (a "Warrant Share") for a period of 36 months from the closing of the Offering at a price of $0.55 per Warrant Share. The private placement is an add-on to the recently announced bought deal financing ( NF News Release October 30, 2024 ).

News Provided by Canada Newswire via QuoteMedia

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

Canadian Investment Regulatory Organization Trade Resumption - NF

Trading resumes in:

Company: Nuclear Fuels Inc.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NUCLEAR FUELS ANNOUNCES $8 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF UNITS

NUCLEAR FUELS ANNOUNCES $8 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF UNITS

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES   OR FOR DISSEMINATION IN THE UNITED STATES /

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Haywood Securities Inc. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought-deal" private placement basis, 20,000,000 units of the Company (the "Units") at a price of $0.40 per Unit (the "Offering Price") for gross proceeds of $8,000,000 (the "Underwritten Offering").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Nuclear Fuels Reports High Grade Intercept of 0.205% eU3O8 over 8.0 feet from the First Drill Program at the Kaycee Uranium Project's East and West Stirrup Zones; Extends Known Mineralization 1,000 Feet

Nuclear Fuels Reports High Grade Intercept of 0.205% eU3O8 over 8.0 feet from the First Drill Program at the Kaycee Uranium Project's East and West Stirrup Zones; Extends Known Mineralization 1,000 Feet

CSE:NF 
OTCQX:NFUNF

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announced today the best results to date from the on-going drill program at the Kaycee In-Situ Recovery ("ISR") Uranium Project (the "Project") in Wyoming's Powder River Basin ("PRB"). The current drill hole results are from the Company's first drilling on the historic Stirrup West and East Zones which lie ~2.7 miles from the Saddle Zone and 1 mile from the Spur Zone. Drilling at the Stirrup West Zone returned up to 0.205% eU 3 O 8 over 8.0 feet with a Grade Thickness ("GT") of 1.640, representing the highest GT encountered by the Company. Drilling at Stirrup East Zone has confirmed high grade historic mineralization, and extended the Zone by ~1,000 feet to the northeast (0.107%eU 3 O 8 over 4.5 feet with a total hole GT of 0.854). In the PRB, potentially ISR-recoverable uranium mineralization with a GT of greater than 0.20 is considered suitable for inclusion in a potential wellfield.

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

×