Skyharbour Commences Minimum 4,000m Winter Diamond Drill Program at its High Grade Moore Uranium Project, Saskatchewan
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
February 26th, 2018
News Release
Skyharbour Commences Minimum 4,000m Winter Diamond Drill Program at its High
Grade Moore Uranium Project, Saskatchewan
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (the “Company”) is pleased to announce it has commenced its winter 2018 diamond drilling
program at its flagship 35,705 hectare Moore Uranium Project, located approx. 15 kilometres east
of Denison Mine's Wheeler River project and near regional infrastructure on the southeast side of
the Athabasca Basin, Saskatchewan. The Company is planning to carry out a minimum of 4,000
metres of drilling in ten to fourteen diamond drill holes through April, to follow up on the success
of the drill programs completed last year. The planned drill targets are located on the Maverick
corridor as well as at other high-priority regional targets.
Moore Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Jordan Trimble, President and CEO of Skyharbour Resources, states: “We are excited to get the
next phase of drilling started at our flagship Moore uranium project which will serve as an
important near term catalyst for the company. The high grade uranium mineralization discovered
during the two drill programs completed last year illustrates the strong discovery potential at the
project. We will be drill testing the Maverick corridor as well as several other shallow, regional
exploration targets that offer the potential to generate additional discoveries. Of interest are the
new, high-priority drill targets generated from the recently completed drone mag survey flown over
the Maverick corridor which will be drill tested by this program.”
Winter 2018 Dill Program at the Moore Uranium Project:
Given the success of Skyharbour’s first phases of drilling at the Moore Project in 2017, the
Company has now commenced a minimum 4,000 metre winter diamond drill program. Drill targets
will include several high-priority regional targets at the property as well as the Maverick corridor
where previous drilling has intersected high gra de uranium mineralization at the Main Maverick
Zone including 6.0% U 3O8 over 5.9 metres at a vertical depth of 265 metres in hole ML-199, as
well as the discovery of new, high-grade mineralized lenses along strike from this Main Maverick
Zone. Furthermore, Skyharbour recently completed an Unmanned Aerial Vehicle Magnetometer
Survey (“UAV-MAGTM Survey”) carried out by Pioneer Aerial Surveys Ltd. along the entire
Maverick conductive corridor. This innovative survey , flown at close 20 metre spacings and an
elevation of 35 metres has helped to better define cross-cutting features and structures along the
2
Maverick corridor which are high-priority targets for this diamond drill program. Only 2.0 km of the
total 4 km long Maverick corridor have been system atically drill tested leaving robust discovery
potential along strike, as well as at depth in the underlying basement rocks which have seen
limited drill testing to date. With the recently completed UAV-MAGTM Survey and subsequent new
drill targets, Skyharbour continues to unlock the discovery potential at Moore through value-add,
systematic and cutting-edge exploration techniques.
Moore Uranium Project Maverick Corridor:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Maverick-Corridor-Map-v1.jpg
The regional drill targets that will be tested occur on the eastern side of the property where little
drilling has taken place in the past. These targets are associated with geophysical features,
particularly EM conductors and magnetic and resisitivity lows, that are common to uranium
mineralization in the Athabasca Basin. They also occur along conductive zones identified in the
Puka Puka and East Venice grids. Prior drill testing of some of the Puka Puka and East Venice
conductors returned highly anomalous pathfinder elements, as well as significant alteration and
structural disruption of both the sandstone and basement columns. Low grade uranium
mineralization was intersected in the basement of a hole testing the East Venice grid and well
developed graphitic lithologies were also intersected in the basement rocks of holes testing both
areas.
Moore Uranium Project Regional Drill Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
Winter and Summer 2017 Dill Program Results at Moore Uranium Project:
Skyharbour previously reported results from its 5,450 metre, fifteen drill hole, winter 2017 program
at its Moore Uranium Project (see May 23 rd, 2017 news release). Multiple drill holes intersected
high-grade uranium mineralization along the Maverick structural corridor including: 20.8% U3O8
over 1.5 metres within an interval returning 6.0% U3O8 over 5.9 metres in hole ML-199; 9.12%
U3O8 over 1.4 metres within an interval returning 4.17% U3O8 over 4.5 metres in hole ML-202;
5.29% U3O8 over 2.5 metres within an interval returning 2.99% U3O8 over 5.0 metres in hole
ML-200; and 2.25% U3O8 over 3.0 metres in hole ML-208. This high grade mineralization within
the Maverick corridor is relatively shallow ranging from a vertical depth of 250 to 275 metres. Also
of note is that hole ML-202 represents the discovery of a new high-grade mineralized lens on the
corridor.
Moore Uranium Project Winter 2017 Drill Program Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Drilling-Update_20170515.pdf
Skyharbour previously reported results from its 4,035 metre, eleven drill hole, summer 2017
program at its Moore Uranium Project (see December 6 th, 2017 news release). Additional high
grade uranium mineralization at the Maverick stru ctural corridor was discovered including 7.4%
U3O8 over 1.8 metres within an interval returning 2.23% U3O8 over 9.3 metres in hole ML17-10.
Also of note is that hole ML17-09 intersected high grade uranium mineralization in the basement
rock of the Main Maverick Zone making the basement rocks along the corridor a high-priority
target in the current drilling program.
Qualified Person:
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and
approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a
Director, as well as a Qualified Person.
About Skyharbour Resources Ltd.:
3
Skyharbour holds an extensive portfolio of ur anium and thorium exploration projects in
Canada's Athabasca Basin and is well positioned to benefit from improving uranium market
fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from
Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore
Uranium Project which is located approx. 15 kilo metres east of Denison's Wheeler River project
and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage
uranium exploration property with high-grade ur anium mineralization at the Maverick Zone with
drill results returning 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a
vertical depth of 265 metres. Skyharbour signed option agreements with Orano Canada Inc.
(previously AREVA Resources Canada) and Azincourt Energy whereby Orano and Azincourt can
earn in 70% on the Preston Project through a combined $9,800,000 in total exploration
expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares.
Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R
deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in
the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-
101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of
ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in
grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The
Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically
located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium
mineralization was recently discovered. Skyhar bour'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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website
at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
NEWS RELEASE.
This release includes certain statements that ma y be deemed to be "forward-looking statements". All
statements in this release, other than statements of historical facts, that address events or developments
that management of the Company expects, are forward-looking statements. Although management
believes the expectations expressed in such forw ard-looking statements are based on reasonable
assumptions, such statements ar e not guarantees of future performance, and actual results or
developments may differ materially from those in the forward-looking statements. The Company undertakes
no obligation to update these forward-looking statement s if management's beliefs, estimates or opinions,
or other factors, should change. Factor s that could cause actual results to differ materially from those in
4
forward-looking statements, include market prices , exploration and development successes, continued
availability of capital and financing, and general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.