A Preeminent Uranium and Thorium Explorer
In Canada's Prolific Athabasca Basin
Skyharbour Resources (TSX-V: SYH) is a preeminent uranium and thorium exploration Company with projects located in the prolific Athabasca Basin of Saskatchewan, Canada which is one of the most favourable jurisdictions globally to work in. The Company has been acquiring top tier exploration projects at attractive valuations culminating in five uranium properties totalling over 250,000 hectares throughout the Basin. Skyharbour recently secured an option from Denison Mines (TSX: DML), a large shareholder of the Company, to acquire a 100% interest in the Moore Lake Uranium Project which hosts the high grade Maverick Zone where previous drilling returned 4.03% U3O8 over 10 metres at 265 metres depth. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test in an upcoming drill program. Skyharbour also intends to employ the prospect generator model to monetize and fund exploration at its other projects in the Basin. These projects include the Falcon Point uranium and thorium project which hosts an NI 43-101 uranium resource as well as the Preston project strategically located proximal to NexGen Energy and Fission Uranium's high grade uranium deposits in the Patterson Lake region. The Company is run by a strong management team who are major shareholders with extensive capital markets experience as well as focused uranium exploration expertise in the Basin. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
In June 2016, Skyharbour secured the option to purchase Denison Mine's Moore Lake project, on the southeastern ridge of the Athabasca Basin, in northern Saskatchewan. Unconformity hosted uranium mineralization was discovered at the 'Maverick Zone'. Highlights include 4.03% U3O8 over 10 metres (including 1.4 metres at 20% U3O8)starting at a depth of 264.68 metres in hole ML-61. The property has been the subject of extensive exploration with approx. $30 million in expenditures and over 132,000 metres of diamond drilling in 370 drill holes across multiple target areas.
Skyharbour owns 100% of the Falcon Point Uranium and Thorium project totaling over 79,000 hectares on the east side of the Athabasca Basin. The Falcon Point property boasts a shallow, NI 43-101 inferred mineral resource totaling 7.0 million pounds at an average grade of 0.03% U3O8 and 5.3 million pounds at an average grade of 0.023% ThO2 at the Fraser Lakes Zone B area, which is open along strike and at depth. A recent field program yielded high grade uranium grab samples of up to 68% U3O8 in a massive pitchblende vein exposed at surface at the Hook Lake target as well.
The Preston Project is a large land position totaling 127,495 hectares strategically located proximal and to the south of NexGen Energy's (TSX-V: NXE) high grade Arrow uranium deposit and Fission Uranium's (TSX: FCU) Patterson Lake South Triple R deposit. Over $4.7 million in exploration expenditures have been carried out on the Preston Project over the past two years the bulk of which was funded by partner companies. The exploration has yielded fifteen high-priority drill target areas associated with eight prospective exploration corridors offering significant exploration upside potential.
Skyharbour owns 100% of the 3,473 hectare Mann Lake Uranium Project strategically located in the eastern Athabasca Basin 25 km southwest of the McArthur River Mine and adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and AREVA (17.5%). Denison acquired International Enexco and its 30% interest on this adjacent project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization. Skyharbour recently completed an EM survey on its Mann Lake Project that was successful in confirming the presence of a broad, NE-SW trending corridor of conductive basement rocks.