April 4, 2024
Skyharbour Resources Ltd. (TSXV:SYH, BUY (S), C$0.65 target, David A. Talbot) announced that its JV partner Orano has commenced the 2024 exploration program at its Preston uranium project in the western Athabasca Basin, owned 51% by Orano and 24.5% each by Skyharbour and Dixie Gold (TSXV:DG, Not Rated). The program is budgeted for C$850k and is planned to include ground electromagnetic (ML-TEM) and ground gravity surveys in addition to an SGH soil sampling program. The EM survey is expected to target Preston West which hosts a known conductor, and the gravity survey aims to identify alteration zones manifesting as gravity lows. This is going to be the first exploration program at the project to be carried out by Orano since 2020. We believe this program provides Skyharbour with additional exposure to the western part of the basin, which has lately attracted a lot of exploration activity after the discovery of F3’s (TSXV:FUU, BUY (S), C$0.60 target, David A. Talbot) JR zone. Meanwhile, we look forward to the results from the ongoing 8,000m drill program at Skyharbour’s co-flagship Moore Lake and Russell Lake uranium project in the eastern Athabasca Basin. Read more
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Skyharbour Resources Ltd. – TSXV:SYH – 3,8
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