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  • Skyharbour Resources (SYH) is forming a joint venture with Orano Canada and Dixie Gold on the Preston Uranium Project
  • Earlier, Orano completed the first earn-in option of a 51-per-cent interest in the project
  • The remaining interest is split evenly between Skyharbour and Dixie Gold with each company retaining a 24.5 per cent interest
  • The Preston Uranium Project is located in the western Athabasca Basin in Saskatchewan
  • Skyharbour Resources is up 2.67 per cent on the day, trading at C$0.38 at 10:37 am ET

Skyharbour Resources (SYH) is forming a joint venture with Orano Canada and Dixie Gold on the Preston Uranium Project.

Earlier, Orano completed the first earn-in option of a 51-per-cent interest in the project.

The remaining interest is split evenly between Skyharbour and Dixie Gold with each company retaining a 24.5 per cent interest in the joint venture.

The Preston Uranium Project is located in the western Athabasca Basin in Saskatchewan.

All three companies point to the "significant potential" of the project.

There have been several recent discoveries in the area by NexGen Energy Ltd., Fission Uranium Corp., and a joint venture consisting of Cameco Corporation, Orano and Purepoint Uranium Group Inc.

Exploration at the project has thus far 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," according to the company.

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and has six drill-ready projects covering over 240,000 hectares of land.

The company has plans for upcoming drill programs at the Preston Uranium Project.

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.

The company owns a 100 per cent interest in the South Falcon Uranium Project on the eastern perimeter of the Basin.

Skyharbour recently signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake Uranium Project.

Skyharbour Resources is up 2.67 per cent on the day, trading at C$0.38 at 10:37 am ET.

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