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Be the first with the news that moves the market- Skyharbour Resources (TSXV:SYH) has revealed its uncovered uranium-hosting rock at its East Preston property
- Skyharbour has stated the drilling program returned basement rock samples consistent with uranium mineralization
- The East Preston property is co-owned by Skyharbour and Dixie Gold
- The company has agreed to an option agreement with Azincourt Energy, whereby Azincourt can earn a 70 per cent interest in the site by performing exploration work
- Skyharbour Resources (SYH) is trading up three per cent and is trading at C$0.17 per share
Skyharbour Resources (TSXV:SYH) has released drilling results from its East Preston uranium property in Saskatchewan’s Athabasca basin.
Through the drilling program on East Preston, mining company Azincourt is earning up to a 70 per cent interest in the property, as part of an option agreement with Skyharbour.
The winter drill program entailed 2,431 metres of drilling across nine drill holes, hoping to test the three main targets within a seven-kilometre by two-kilometre area.
Promisingly, the results show the right rock non-conformity for Uranium mineralization.
The company believes that the combination of closely spaced graphite trends, that coincide with low gravity anomalies, is indicative of uranium hosting-rock.
The winter program results, combined with the number and extent of the strike on the existing corridor target area, all ensure they can advance the project while zeroing in on Uranium mineralization on site.
The CEO of Skyharbour Alex Klenman said drilling was ongoing, as the results thus far have shown the company are on the right track.
“The presence of Rare Earth Element mineralization, similar to Wheeler River, adds to the growing prospectively of the project.
“This data is a positive development that demonstrates East Preston continues to reveal it has the necessary environment for uranium deposition” he said.
The next step for the company is the follow up drilling for two of the three zones the company drilled.
The company will begin a helicopter-supported drilling program in the summer of this year, using both drilling and electromagnetic survey methods.
Skyharbour Resources (SYH) is trading up three per cent and is trading at C$0.17 per share at 9:45 am EDT.
