March 18, 2021
Skyharbour Resources Ltd. (TSXV:SYH, Not Rated, David A. Talbot) announced that it has started mobilization for its 2021 geophysical and diamond drilling program at its flagship Moore uranium project in the southeast Athabasca Basin, Saskatchewan. This 100%-owned project is located 15km east of Denison Mines’ (TSX:DML, Not Rated) Wheeler River project (>130M lbs U3O8 indicated resources), proximal to important regional infrastructure including electrical transmission grid and all-season highway. A nine line-km small moving loop (SML) electromagnetic (EM) survey is planned for the previously untested Grid Nineteen area to better define historical EM conductors. Subsequently, Skyharbour plans to commence a 3,000m drill program consisting of 10-12 holes, targeting existing unconformity and basement targets along the 4.7km-long Maverick structural corridor and newly refined targets at Grid Nineteen. The Maverick East target has been defined over a 170m strike, 10m wide, and 17.9m thick with grades of up to 9.12% U3O8, and the company plans to further grow the prospect along strike, down-plunge, and at depth with a focus on basement-hosted mineralization. Best drill results from this zone include 1.79% U3O8 over 11.5m, including 4.17% over 4.5m and 9.12% U3O8 over 1.4m (ML-202) as well as 0.72% U3O8 over 17.5m (ML20-09). Other basement targets to be drill tested include northeast extensions of the Maverick structural corridor, including the Esker target. We believe that Skyharbour is just scratching the surface of the Maverick zone and surrounding targets, and that its recent Maverick East discovery could be the first of many. Only 2km of the 4.7km trend has been tested, and in our view, past drilling has not adequately tested the potential of the basement rocks at depth. Read more
