Vancouver, BC -- Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces assay results from its 100% owned south Bay Zinc-copper-silver project, located in Dent and Mitchell township, 80 km east north east of Red Lake ,Ontario. The 3200 Acre property includes the former South Bay Zinc -- copper mine (Selco) which produced 1.6 million tons of ore grading 2.3% Cu, 14.5 % Zn and 3.5 oz Ag.
Click Here for South Bay Claims Map, NW Ontario
Skyharbour has encountered Volcanogenic Massive Sulphides (VMS) mineralization over significant intersections in its drill program. Assays have been received for a second zone of VMS mineralization identified in drill hole SB08-4 and for an intersection of VMS mineralization in hole SB08-5, which are reported below.
Hole # From To Intercept Zn Cu Ag Au SB08-4 386.7m 387.1m 0.4m 0.26% 0.02% 2.4g/t - 387.1m 387.6m 0.5m 4.50% 0.60% 27.5g/t 400ppb 387.6m 388.6m 1.0m 0.11% 0.01% 2.9g/t - 393.6m 394.5m 0.9m 0.13% 0.01% 2.4g/t - 394.5m 395.1m 0.6m 2.43% 0.05% 7.8g/t 35ppb 395.1m 395.8m 0.7m 0.71% 0.04% 6.0g/t 310ppb 395.8m 396.6m 0.8m 3.32% 0.01% 10.3g/t 110ppb SB08-5 455.9m 456.9m 1.0m 0.23% - 1.5g/t - 456.9m 457.9m 1.0m 2.44% 0.16% 11.7g/t 1980ppb 457.9m 458.9m 1.0m 3.01% 0.12% 10.7g/t 20ppb 458.9m 459.9m 1.0m 0.31% 0.15% 6.1g/t 50ppb
Zinc mineralization encountered in drilling 500 metres southwest of the past producing South Bay mine shaft occurs in two zones. It is still being determined if the zinc mineralization being reported by Skyharbour are separate stratigraphic intervals or a repeated interval due to tight folding. Both zones are fine grained and include chert beds giving rise to the term 'exhalite'.
Click Here for South Bay Area Geology Map
The mineralized zones occur within a thick siliceous flow and pyroclastic sequence. Within this sequence and related to zinc mineralization is a dacitic breccia unit that is developed intermittently. The unit is characterized by pale green chlorite between the breccia fragments. It is apparent from a detailed compilation of data of the underground workings of the former South Bay mine by Skyharbour geologists, that a similar geological unit seen in the Skyharbour's surface drilling underlies the bulk of the ore that was mined. In the mine area, this unit is also intermittently developed but occurs in a southwest arcuate trend that suggests the mineralization encountered by Skyharbour's drilling is within the same stratigraphic horizon and stratigraphic package of rocks as the past producer.
Drilling is currently testing a large Titan 24 chargeability / resistivity anomaly that trends from the mine workings to the recent Skyharbour zinc discovery. The compilation shows this anomaly is related to the mineralization mined at South Bay but is outside the area explored from underground. The geophysical data indicates the target 'tops out' 200 metres below surface but is open at depth.
Skyharbour has now completed 10 diamond drill holes on its South Bay property. The Company continues to drill the property at this time. A further 4 drill holes have been located in the field and are to be completed in this ongoing Phase #1 drill program.
Assays are pending from core samples split from hole #6 through hole #10, with Skyharbour currently awaiting processing by TSL Laboratory in Saskatoon.
The general area of the discovery has all the characteristics of a base metal camp. Typically a camp hosts a number of zinc-copper deposits with one or two larger deposits of 15 to 50 million tonnes and a range of much smaller deposits down to ½ a million tonnes. The only significant deposit found to date is the South Bay mine deposit and it is at the smaller end of the scale. This might suggest that larger deposits remain to be discovered.
Skyharbour Resources has approximately $3.0 million in working capital and no debt.
David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE and RAINY RIVER districts of northwestern Ontario, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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.