SAN FRANCISCO, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB), a uranium exploration company with projects in the Athabasca Basin of Saskatchewan, Canada, reported high-grade uranium drill results.
Company mentioned: Skyharbour Resources Ltd.
In December, Skyharbour announced initial results from its fall 2018 drill program at the Maverick Zone of its 100%-owned Moore Uranium Project, its flagship project.
This drill program consisted of approximately 3,800 meters in eight holes, of which two have returned high-grade uranium values and four other holes were drill-testing deeper targets in the underlying basement rocks. Those four "exploratory" holes encountered up to 80 meters of altered lithologies, which contain minerals that act as pathfinder elements for uranium mineralization.
Jordan Trimble, Skyharbour's president and CEO, told Streetwise Reports, "A lot of the historical findings were found in the sandstone that is located right above the basement rock. Many times, explorers wouldn't even bother drilling into the basement rock. But discoveries like NexGen's Arrow, Fission's Triple R, and Denison's Gryphon deposits—all in the Athabasca Basin—have all been found in the basement rock. We're trying to emulate the success of these companies with what they've found in the basement."
Skyharbour reported that drilling at the Main Maverick area revealed high-grade uranium. Hole ML18-14 returned 0.56% U3O8 over 15.2m from 264.5m to 279.7m downhole, including 3.11% U3O8 over 1.8m.
Skyharbour has optioned its Preston Project to Orano Canada (previously AREVA Resources Canada Inc.), which is planning a CA$2.2 million 2019 drill program. It has optioned the East Preston uranium project to Azincourt Energy, which is exploring the property, currently by conducting a Vtem survey.
Continue reading this article: Explorer Finds High-Grade Uranium in Athabasca Basement Rock
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