Skyharbour Resources’ Announces Commencement of 3,500 Metre Diamond Drill Program at Moore Lake Uranium Project in Eastern Athabasca Basin of 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 9th, 2017
NEWS RELEASE
Skyharbour Resources’ Announces Commencement of 3,500 Metre Diamond Drill
Program at Moore Lake Uranium Project in Eastern Athabasca Basin of Saskatchewan
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (the “Company”) is pleased to announce that it has now commenced its planned 3,500
metre drill program on its flagship Moore Lake Uranium Project located on the east side of the
Athabasca Basin. The program will conti nue through February into late March / early April with
the majority of the drilling planned on and along strike of the high grade Maverick Zone which is
land-based and accessible year round.
Jordan Trimble, President and CEO of Skyharbour Resources, states: “The commencement of
our first diamond drill program at our flagship Moore Lake Uranium Project is a key milestone for
Skyharbour and its shareholders. Uranium properties with the pedigree and potential of Moore
Lake are rare with historical high grade mineralized results including 4.03% eU3O8 over 10 metres
at the Maverick Zone as well as several shallow exploration targets that offer the potential to
generate additional discoveries. The ta rget areas in and around the Maverick Zone that we are
drill testing with this initial 3,500 metre program provide strong discovery potential as we look to
value-add the project using a systemic and proven exploration methodology. The Company is
well funded to complete this drill program and will provide updates as results become available.”
In June 2016, Skyharbour secured an option to purchase Denison Mine's Moore Lake project, on
the southeastern side of the Athabasca Basin, in northern Saskatchewan. The project consists of
12 contiguous claims totaling 35,705 hectares located 42 kilometres northeast of the Key Lake
mill, approx. 20 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of
Cameco’s McArthur River mine. Unconformity style uranium mineralization was discovered on
the Moore Lake project at the Maverick Zone in April 2001. Historical drilling highlights include
4.03% eU3O8 over 10 metres (including 1.4 metres at 20% eU3O8) starting at a depth of 265
metres in hole ML-61. In addition to the Maverick Zone, the project hosts other mineralized targets
with strong discovery potential which the Company plans to test with future drill programs . The
project is accessible via winter and ice roads which simplifies logistics and lowers costs.
Moore Lake Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Skyharbour has received all of the required permits for this planned 3,500 diamond metre drill
program now underway at the Moore Lake Project which will consist of 10 to 13 drill holes ranging
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in depth from 200 metres to 400 metres. The majority of the drilling will test and look to
expand the Maverick Zone with targets both in the underlying basement rock as well as along
strike of the known high grade , main Maverick mineralized lens. Additionally, several drill holes
will test the 527 and the 525 Zones which are located along the Ma verick corridor approx. 500
metres and 1,500 metres respectively, east of the main Maverick mineralized lens.
Moore Lake Uranium Project Geophysics Map:
http://skyharbourltd.com/_resources/maps/MooreLake-Basic-geo-revamp.jpg
This phase of diamond drilling will also test drill targets along the extensions of the Maverick
structural corridor and on extensive northeast trending graphitic structural zones located north of
the main Maverick mineralized lens. These targets have been identified following a review of
previous exploration and include drill targets identified by prior programs that have yet to be
followed up on.
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 Adviso r and a
Director, as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium 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 to
acquire 100% of the Moore Lake Uranium Project which is located 20 kilometres east of Denison’s
Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore
Lake is an advanced stage uranium ex ploration property with over $30 million in historical
exploration, 370 diamond drill holes, and a high-grade uranium zone known as the Maverick Zone
with drill results including 4.03% eU3O8 over 10 metres at a vertical depth of 265 metres. The
Company owns a 100% interest in the Falcon Point (formerly Way Lake) Uranium Project on the
eastern perimeter of the Basin which hosts 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 al so 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. Skyharbour also has a 50% interest in the
large, geologically prospective Preston Uranium Project proxi mal to Fission Uranium’s Triple R
deposit as well as NexGen Energy’s Arrow deposit. 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 with partners Denison Mines and AREVA, where high-grade
uranium mineralization was recently discovered. 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.
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
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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 may 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 forwa rd-looking statements. Although management
believes the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are 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 statements if management's beliefs, estimates or opinions,
or other factors, should change. Factors that could cause actual results to differ materially from those in
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.