The company wishes to announce that its spring (2003) drilling program has been completed. A total of 3068 meters (10,062 feet) were drilled on the property. This drill program has been a collaboration with Skyharbour (operator) and Bayfield Ventures and Placer Dome (CLA) Ltd. (optionee). The program was designed to systematically section the property at 200-meter intervals. The drill program was intended to define the extent and character of previously identified gold mineralization, alteration, and structures. The drilling targeted a broad, known deformation zone interpreted from airborne geophysical data.
Skyharbour and Bayfield are very encouraged with the results received to date from the drilling program, which has confirmed the presence of gold mineralization within broad zones of quartz carbonate alteration. The quartz carbonate alteration system was significantly expanded by the Phase 1 drilling program. Gold values encountered in B03-9 were in an entirely new geological setting. This setting includes veins and veining in mafic / ultramafic flows and subvolcanics and is 400m west of any previously known gold values. The planar nature of gold bearing veins in this setting indicates a strong likelihood of lateral continuity.
This geological setting is interpreted as displaying many similarities to the known major gold deposits that have been developed in heart of the Red Lake gold belt. (Placer Dome's Campbell Mine and Goldcorp's Red Lake mine as examples). It is believed sufficient data was obtained from the current program to effectively target new and prospective settings for further drilling.
Placer Dome has provided the funding necessary for the drill program as part of an earn-in option agreement. (see news release March 21, 2003). Follow up exploration programs on the property will focus on further delineating the gold bearing zones and targeting higher-grade gold bearing shoots within these zones.
A table of drilling results and assays are to be found at the link below.
Gold assays were by metallic screen fire assays as carried out by TSL Laboratories Inc. of Saskatoon, Saskatchewan. Industry standards and blanks were incorporated into each sample batch to ensure quality control of the assaying. These results have been prepared under the direct supervision of Mr. David Busch, P Geo., who is designated a Qualified Person with the ability and authority to attest to the authenticity and validity of this data.
About Skyharbour Resources Ltd.:
Skyharbour Resources is a mineral exploration company that focuses on the acquisitions of and exploration of gold projects in Northwestern, Ontario. It has options or interests in 9 mineral properties located in the Red Lake greenstone belt, including the above mentioned option agreement with Placer Dome.
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