Skyharbour Resources Releases NI 43-101 Technical Report on the Preston Uranium Project, Saskatchewan

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 02/21/16

Skyharbour Resources Ltd. is pleased to announced an NI 43-101 technical report on the Preston Uranium project prepared by Cypress Geosciences Ltd. and completed in conjunction with its project partner, Athabasca Nuclear Corporation. The large-scale Preston project is strategically located near Fission Uranium Corp. shallow, high-grade Triple R deposit and is adjacent to NexGen Energy Ltd.'s Rook-1 project hosting the Arrow uranium discovery in the Patterson Lake region of northwestern Saskatchewan. The project comprises 34 contiguous mineral claims in good standing and totaling 121,148 ha intersected by all-season Highway 955. Initial exploration efforts by Skyharbour Resources Ltd. and Athabasca Nuclear Corporation represent the first significant air and ground-based exploration of the underlying tenure of the Preston project. The area saw brief exploration during the late 1970's to early 1980's although discoveries now being identified in the Western Athabasca region were not identified at that time. Exploration in 2013 consisted of airborne EM-Magnetic, radiometric surveys and prospecting around targets identified in historic reports. The VTEM survey completed in August 2013 mapped over 300 kilometers of graphitic-type conductor segments, some approaching 10 kilometers in length within the eastern claims of the Preston project. Additional ground follow-up of the newly identified airborne conductor corridors and radiometric anomalies was carried out by systematic lake-bottom sediment sampling and water radon sampling surveys, which in turn was followed by soil, biogeochemical and radon-in-soil sampling surveys. In 2014, ground gravity and horizontal loop electromagnetic (HLEM) surveys were followed up by RadonEx radon-in-water and radon-in-soil sampling surveys, which was followed up by a diamond drilling program consisting of 5 holes in 4 target areas totaling 1,571 meters.