Skyharbour Resources Ltd. announced the results from its 2017 summer/fall 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. Drill hole ML17-10 intersected high grade uranium mineralization on the eastern edge of the Main Maverick Zone consisting of 7.4% U3O8 over 1.8 meters within 2.23% U3O8 over 9.3 meters. This mineralization occurs in the sandstone from 265.7 to 275.0 meters with the unconformity depth at 273.9 meters. Also of note is hole ML17-09 which intersected uranium mineralization in the basement rock of the Main Maverick Zone as well as exploratory drill hole ML17-04 which discovered uranium mineralization in narrow shears at the Venice target, a regional target 9 km northeast of the known high grade zones at Maverick.
Hole ML17-10 at the Main Maverick Zone returned 2.23% U3O8 over 9.3 meters from 265.7 to 275.0 meters downhole including 7.4% U3O8 over 1.8 meters just above the unconformity. Hole ML17-09 at the Main Maverick Zone returned 0.344% U3O8 over 7.5 meters from 277.5 to 285.0 meters including an interval of 1.41% U3O8 over 1.5 metres; this mineralization occurs below the unconformity in the basement rocks illustrating the strong potential for high grade uranium to be discovered in the relatively underexplored basement rocks at Moore. Holes ML17-07 and ML17-11 which tested the Maverick East Zone returned strongly altered and structurally disrupted basement rocks enriched in uranium, boron, nickel, cobalt and vanadium.
Only 1.5 kilometres of the total 4 kilometre long Maverick corridor have been systematically drill tested leaving robust discovery potential along strike as well as at depth in the underlying basement rocks which have seen limited drill testing historically. Regional drill hole ML17-04 tested the East Venice area, approx. 9 km northeast from the Main Maverick Zone, and intersected altered and sheared graphitic pelites that returned anomalous uranium and boron values as well as low grade uranium mineralization in a previously untested target area. Given the success of the 2017 drilling programs at Moore, planning is currently underway for a minimum 4,000 metre winter diamond drilling program to commence in early February; additional news and details are forthcoming.
Jordan Trimble, President and CEO of Skyharbour Resources, stated that the recently completed summer/fall drill program at the Moore Project has returned additional high grade, shallow uranium drill results both above and below the unconformity at the Maverick corridor, as well as yielding a new regional discovery. We will be commencing a winter drill program soon to follow up on these results as we continue to value-add the project using a systematic and proven exploration methodology. The project boasts strong discovery potential going forward as we are discovering new, high grade mineralized lenses along the Maverick corridor and have now intersected higher grade uranium in the underlying basement rock as well. In addition to the Maverick corridor, we are finding new zones of uranium mineralization at regional targets including the Venice area which will be followed up on in upcoming drill programs. With the impending winter drill program at our Moore Project, as well as AREVA’s planned drilling early in the New Year at our Preston Project, there will be ample news flow from the Company during a time when recent significant production cuts from the largest uranium producers help drive a uranium market recovery.
Fall 2017 Drill Program Summary and Upcoming Winter 2018 Drill Program Plans:
The recently completed summer/fall drill program totaled 4,035 meters in eleven holes with holes drilled to between 250 meters and 450 meters depth. Seven of the eleven holes were reconnaissance and regional drill holes at geophysical targets in the East Venice, Volhoffer and Moore Lake Complex areas with the remaining four holes drilled on the high grade Maverick structural corridor.
Four holes tested the Maverick Main Zone and Maverick East Zone. The best results were from ML17-10 and ML17-09 which were drilled on the eastern margin of the Main Zone. Hole ML17-10 intersected 7.4% U3O8 over 1.8 metres within 2.23% U3O8 over 9.3 metres from 265.7 to 275.0 metres vertical.
Moore Uranium Project Maverick Zone Drilling Map:
http://skyharbourltd.com/_resources/projects/Moore-Lake-Maverick-Detail_20170515.pdf
Hole ML17-09 intersected 1.41% U3O8 over 1.5 meters within a 7.5 meters interval returning 0.344% U3O8 from 277.5 to 285.0 meters vertical. This mineralization occurs in strongly altered basement rocks enriched in boron, nickel, copper and cobalt. The unconformity was intersected at 277.3 meters and this intersection illustrates the strong potential for high grade uranium to be hosted in the basement rocks along the Maverick corridor which the company will test for in future drill programs.
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