Skyharbour Discovers New High Grade Uranium Mineralization at Maverick Zone including 2.31% U3O8 over 2.5m within 0.62% U3O8 over 12.0m; Summer 2019 Drill Program Upcoming
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the results from its 2019 winter/spring diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project, approximately 15 kilometres east of Denison Mine’s Wheeler River project and proximal to regional infrastructure like Cameco’s Key Lake/McArthur River operations in the Athabasca Basin, Saskatchewan.
Moore Uranium Project Claims Map:
Drillhole ML19-06 intersected a broad zone of uranium mineralization from 273.0 metres to 285.0 metres downhole within the growing Maverick East Zone which Skyharbour discovered in 2017. The interval returned 0.62% U3O8 over 12.0 metres with a basal high grade basement-hosted intercept returning 2.5 metres of 2.31% U3O8. This represents one of the broadest zones of uranium mineralization intersected on the property to date and includes a significant basement component illustrating the strong discovery potential below the unconformity. Furthermore, strong potential for high grade uranium mineralization was identified at a newly discovered regional target called the Otter Zone which is 7 kilometres to the northeast of the Maverick Zone. Exploratory drill hole ML19-04 returned 0.15% U3O8 over 0.5 metres in the basement rocks at this new target area.
Moore Uranium Project Main and East Maverick Zones Drilling Map:
- Hole ML19-06 was drilled at the eastern end of the growing Maverick East Zone and returned 0.62% U3O8 over 12.0 metres from 273.0 metres to 285.0 metres downhole including 2.31% U3O8 over 2.5 metres.
- The highest grade portion of this mineralized intercept is hosted in clay altered granitic assemblages within the basement rock and illustrates strong potential for significant down-dip mineralized structures in the zone which will be tested with future drilling.
- Hole ML19-05 was drilled at the western end of the Main Maverick Zone where it turns westerly and returned two zones of mineralization above and below the unconformity including 0.30% U3O8 over 4.4 metres and 0.27% U3O8 over 1.5 metres at 264.7 metres to 269.1 metres downhole and 274.7 metres to 276.2 metres downhole respectively.
- Exploratory hole ML19-04 drilled in the newly discovered Otter target area intersected prospective intrusive and graphitic lithologies in the basement rocks accompanied by uranium values up to 0.15% U3O8 over 0.5 metres and anomalous B, Th, Ni, Cu and Mo.
- Only 2 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.
- Planning is currently underway for a summer/fall diamond drilling program to commence in the coming months; additional news and details are forthcoming.
Jordan Trimble, President and CEO of Skyharbour Resources, stated: “We are very pleased with the results from this most recent drill program at our flagship Moore Project as we continue to discover new high grade uranium mineralization in the underlying basement rock at the Maverick corridor as well as making new regional discoveries at the project. We will be commencing a summer drill program to follow up on these results and test more extensively highly prospective potential feeder zones in the basement rock at the Maverick corridor as well as following up on the early success at the newly discovered Otter Zone. Skyharbour is well positioned to benefit from the continuing uranium market recovery with strong discovery potential and ample upcoming news flow from its drilling at Moore, as well as from its partner companies’ Orano Canada Inc. and Azincourt Energy’s recently announced and upcoming exploration programs.”
Richard Kusmirski, Head Geologist of Skyharbour Resources, stated: “The fact that significant uranium mineralization has once again been intersected in untested target areas bodes well for the discovery of additional uranium deposits on the project lands. Furthermore much of this uranium mineralization is associated with basement lithologies a characteristic common to recent discoveries like NexGen’s Arrow Deposit, Fission’s Triple R Deposit and Denison’s Gryphon Deposit.”
Winter/Spring 2019 Drill Program Overview:
The recently completed winter diamond drilling program totaled 2,783 metres in 7 drill holes. These holes tested the southwest portion of the Nutana conductive corridor (hole ML19-01), two discrete conductive targets in the Otter Zone area (holes ML19-02, 03, 04), the Main Maverick Zone (holes ML19-05 and 07) and the Maverick East Zone (hole ML19-06).
Moore Uranium Project Regional Grid Targets Map:
Drill hole ML19-06 was drilled at the eastern end of the Maverick East Zone and returned 0.62% U3O8 over 12.0 metres from 273.0 metres to 285.0 metres downhole including 2.31% U3O8 over 2.5 metres. The highest grade portion of this mineralized intercept is hosted in clay altered granitic assemblages within the basement rock, along with evidence for atypical structural disruption at the unconformity. This combination of lithologic and structural control illustrate the potential for significant down-dip mineralized structures in the zone.
Drill hole ML19-05 was drilled at the western end of the Main Maverick Zone where it turns westerly and returned two zones of mineralization above and below the unconformity including 0.30% U3O8 over 4.4 metres and 0.27% U3O8 over 1.5 metres at 264.7 metres to 269.1 metres downhole and 274.7 metres to 276.2 metres downhole respectively.
Exploratory drill hole ML19-04 drilled in the newly discovered Otter Zone area intersected prospective intrusive and graphitic lithologies in the basement rocks accompanied by uranium values up to 0.15% U3O8 over 0.5 metres and anomalous B, Th, Ni, Cu and Mo. Holes ML19-02 and ML19-03 at the Otter Zone intersected similar lithologic packages with ML19-02 intersecting highly clay altered and tourmalinized pegmatites containing up to 1.26% boron, indicative of a high level of prospectivity for additional uranium mineralization to be discovered. Analysis of the regional geophysical and geological data from the Otter Zone area indicate that it is part of a complex series of graphitic metasedimentary packages folded around and within Hudsonian granitic assemblages. Settings such as these are highly prospective for uranium mineralized deposits in the Athabasca Basin.
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