Skyharbour Partner Company Azincourt’s Initial Drilling Confirms East Preston Basement Prospectivity
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has reported results from the recent phase one drill program at the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan, Canada.
Preston Uranium Project Map:
The initial drill campaign has confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston are very similar and appear to be analogous to the Patterson Lake South, Arrow and Hook Lake/Spitfire uranium deposit host rocks and setting. A total of 552 meters of drilling was completed in three holes prior to the onset of spring break-up conditions that impacted the duration of the program. The rapid onset of spring required shifting from entirely overland-supported drilling to helicopter-supported drilling. All drill holes targeted multiple closely spaced discreet graphitic conductors with coincident gravity low anomalies often indicative of alteration or thicker overburden due to enhanced glacial scouring over altered, or structurally disrupted basement.
Azincourt’s President and CEO, Alex Klenman stated: “We are certainly very pleased with the results of the first few holes, it’s an excellent start to initial drill testing at East Preston. We have confirmed the project contains the appropriate environment – both geologically and geochemically – that is consistent with uranium mineralization in the area. That’s a significant confirmation, and to be able to determine this at the outset is a very positive development. These are the right graphitic-rich host rocks and given we have just started drilling, we’re obviously optimistic about what’s ahead. We have dozens of high priority targets yet to drill, and thanks to recent substantial institutional support we are well funded to execute a much larger phase two program. Permitting is already underway, we have the cash, and we have the targets. Our timing looks good with sector developments as well. We’re excited to get more drill holes in the ground and will announce details of the upcoming phase two drill campaign soon.”
The East Preston project lies immediately south of the interpreted southern edge of the Athabasca Basin and overburden thickness ranged from 15m to 33m thick with no Athabasca sandstone intersected. Numerous untested graphitic conductive trends remain on the project for drill testing, and additional targets have been generated from the recent VTEM survey that now covers the entire East Preston project lands. The basement rocks intersected comprised amphibolite-grade (high-grade) metamorphic pelitic/mafic to pssamopelitic/felsic gneisses and schists with pegmatitic partial melt segregations. Numerous intervals of blue quartz ‘units’ interpreted as either amphibolite-grade orthoquartzite, or silica-flooded, altered gneissic precursors were also intersected. The gneissic rocks often become highly strained displaying mylonitic to proto-mylonitic textures.
All drill holes intersected at least two intervals of graphitic pelitic gneiss/schist, sufficiently explaining the HLEM and VTEM conductors targeted. In drill holes EP19001 and EP19002, the graphitic rocks intersected were primarily stratigraphic with little associated structural disruption. Drill hole EP19003 intersected moderate to strong structural upgrading within the upper graphitic-pyritic unit encountered. Anomalous radioactivity was observed immediately in the hanging wall upper contact of this graphitic fault interval associated with partial melt pegmatite.
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