Skyharbour Resources Ltd (SYHBF)

[Akula42]

News: Skyharbour Intersects High Grade Uranium in Multiple Drill Holes Including 9.12% U3O8 over 1.4m at Newly Discovered Maverick East Zone as well as 5.29% U3O8 over 2.5m at Main Maverick Zone on the Moore Uranium Project

May 23, 2017

Highlights:

• Hole ML-202 at the Maverick East Zone returned 1.79% U3O8 over 11.5 metres from 266.0 to 277.5 metres downhole including 4.17% U3O8 over 4.5 metres and 9.12% U3O8 over 1.4 metres; this is a newly discovered high grade mineralized lens on the Maverick corridor and illustrates the strong discovery potential of additional high grade lenses along strike.
• Hole ML-208 at the Main Maverick Zone returned 2.25% U3O8 over 3.0 metres from 266.8 to 269.8 metres.
• Previously reported drill hole ML-199 at the Main Maverick Zone intersected high grade uranium mineralization containing 6.0% U3O8 over 5.9 metres, from 261.6 to 267.5 metres depth including 20.8% U3O8 over 1.5 metres from 264.0  to 265.5 metres.
• This first phase drill program totaled 5,450 metres in 15 holes testing the Maverick corridor; the known unconformity-hosted high grade mineralization at the Maverick corridor is relatively shallow at 250 metres to 275 metres vertical depth.
• Only 1.5 kilometres of the total 4 kilometre long Maverick corridor have been systematically drill tested leaving robust discovery potential along strike as well as at depth in the underlying basement rocks which have seen limited drill testing historically.
• Given the success of the first phase of drilling at Moore, planning is currently underway for a summer drill program with news and details forthcoming; the Company is fully funded for this upcoming drill program with over $3.7 million in the treasury.  

Jordan Trimble, President and CEO of Skyharbour Resources, states: "The first phase of drilling at Moore has far exceeded our expectations and we will be commencing a summer drill program in the coming months to follow up on these results. The presence of shallow, high grade uranium mineralization in seven of the fifteen holes is very encouraging not to mention that all of the holes drilled to target intersected uranium mineralization in this program. We are discovering new, high grade mineralized lenses along strike from the Main Maverick Zone which clearly illustrates the robust, underlying geological potential of the Moore Project. The Maverick corridor is over 4 kilometres long yet only 1.5 kilometres have been systematically drilled with most of this drilling and known high grade uranium hosted at or near the unconformity leaving strong discovery potential along strike but also at depth in the basement rocks. The Company is fully funded to complete multiple future drill programs, including the upcoming summer program, which will provide ample news flow for the remainder of the year as we continue to value-add the project using a systematic and proven exploration methodology augmented by innovative field techniques and new geological analyses."


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