Skyharbour Resources Ltd. (Skyharbour) has now completed the winter 2005 diamond drill program on its Baird gold property, located in the heart of the Red Lake gold district, Northwestern Ontario. The property was jointly held by Skyharbour as operator (50%) and Bayfield Ventures Corp. (50%). The Baird property has been under option to Placer Dome (CLA) Ltd., with Placer having to spend $800,000 by May 2005, to earn a 51% interest. Placer Dome (CLA) Ltd. has now earned its interest and will become operator of the Baird property with Skyharbour and Bayfield Ventures each holding a 24.5% interest.
The primary focus of the 2005 Phase II program was to expand the know South Deformation (shear) zone with several holes of infill diamond drilling. Drilling to date has confirmed the presence of gold mineralization within a broad area of quartz carbonate alteration, including veins and veining in the mafic/ultramafic flows. Skyharbour and Bayfield are encouraged with the assay results received from the previous drilling that included; Hole B03-13: 11.63 g/t Au over 0.8 metres, Hole B03-11: 13.68 g/t Au over 0.4 metres, and Hole B03-12: 4.11 g/t Au over 1.5 metres.
The 2005 Phase II extension drill program saw 6 diamond drill holes completed for a total of 1833 metres (6011 feet). Placer Dome provided the funding for the program as part of their requirements to earn an interest of 51% in the property. The drilling focused on lithological, structural and alteration features identified from previous drilling. An area of folded iron formation flanking a major structure returned widespread anomalous gold and arsenic values.
Gold values from the 2005 Phase II drill program include; Hole B05-1: 1.56 g/t Au over 4.8 metres and 13.8 g/t Au over 0.7 metres, Hole B05-4: 4.90 g/t Au over 0.4 metres, and Hole B05-6: 7.74 g/t Au over 0.5 metres, which occur in silicified sections of the iron formation. Drill Hole Map: http://www.skyharbourltd.com/projects/images/bairdholes05.jpg
Significant intercepts from the recently completed drilling are presented in the following table:
|Hole #||Azimuth||Dip||From (m)||To (m)||Length (m)||g/t Gold|
Data from the recent drilling on the Baird property is now being integrated with previous drilling data to identify target settings for further testing.
In other news, Skyharbour Resources Ltd. has now completed its 2005 Phase II drill program in the St. Paul's Bay region on the Company's McKenzie Island property, Red Lake, Northwestern Ontario. A total of 7 diamond drill holes in 1406 metres (4611 feet) were completed here. The Company expects to release assay results from this drill program in approximately 2 weeks.
David J. Busch, B.A. B.Sc. (hons.) PGeo. is the qualified person, under the meaning of National Instrument 43-101, and has reviewed the data in this News Release.
Skyharbour also announces that it will not continue with its option on the Black Bear II Property, consisting of four claims, located in the Red Lake District, Kenora Mining Division, Ontario. The Company feels that the results of previous exploration are not encouraging enough to warrant further property and option expenditures.
The Company is pleased to announce that Donald Myers of Vancouver, BC has been appointed Vice-President of Corporate Communications. Mr. Myers has over twenty years of experience in public company management and corporate communications, and his background includes holding the position of officer and director of several junior public companies.
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 7 mineral properties located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
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This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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