SAN FRANCISCO, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Uranium development company Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB) holds six projects in the Athabasca Basin in Saskatchewan, home of the world's highest-grade depository of uranium.
Company mentioned: Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB)
The company has been actively exploring and drilling the flagship Moore Lake project over the last several years and is planning an upcoming program that holds the potential to be a key catalyst in the near term. It acquired the project from the company's largest shareholder and strategic partner, Denison Mines. Denison CEO David Cates sits on Skyharbour's board.
For its other five projects, Skyharbour employs prospect generation, bringing in partner companies to advance and fund exploration.
At Skyharbour's high-grade Moore Lake project, the company plans on initiating a 2,500-meter drill program early next year. "This could very well be our most important drill program on the project and the reason for that is we are now primarily testing basement-hosted targets that have been refined by new geophysical techniques," Skyharbour CEO Jordan Trimble said. "When you look at most of the major discoveries that have been made recently in the Athabasca Basin—Denison, NexGen, Fission—these are all high-grade uranium deposits that are hosted in the underlying basement rocks."
"What's exciting about Moore Lake and the upcoming drill program is there was very little historical drilling and work done testing the basement targets, which host the feeder zones. This is the source of the high-grade mineralization, up to 21% U3O8, that we have at our Maverick zone, which is hosted in the sandstone and at the unconformity," Trimble said.
Continue reading this article: For Skyharbour Resources, the Answers May Lie in the Basement
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The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Skyharbour Resources. Click here for important disclosures about sponsor fees. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyharbour Resources.
The full disclosure is provided at the article's end: For Skyharbour Resources, the Answers May Lie in the Basement