A Preeminent Uranium Explorer
In Canada's Prolific Athabasca Basin
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well-positioned to benefit from improving uranium market fundamentals with twenty-four projects, ten of which are drill-ready, covering over 500,000 hectares of mineral claims. Skyharbour acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone including highlight drill results of 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres.
Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Skyharbour has the option to acquire an initial 51% and up to 100% of the 73,294 ha Russell Lake Uranium Property strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan.
In addition to being a uranium exploration and early-stage development company focused on advancing its co-flagship Moore and Russell Lake Projects, Skyharbour also utilizes a prospect generator strategy by seeking partner companies to advance secondary projects, effectively acting as a uranium project incubator. Through earn-in option agreements, partner companies can acquire ownership interests in these projects by funding exploration and making cash and share payments to Skyharbour. The Company currently has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has six active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island Projects; North Shore Energy Metals at the South Falcon Project; and CSE listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit (NI 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. ).
In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in potential cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Furthermore, Skyharbour's project portfolio is bolstered by another fourteen 100% owned projects scattered throughout the Athabasca 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.
Skyharbour owns 100% of the 35,705 hectare Moore Uranium Project located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River mine. Unconformity-hosted uranium mineralization was discovered on the property at the Maverick Zone in the early 2000s at relatively shallow depths. Skyharbour has carried out several drill programs with multiple holes intersecting high-grade uranium mineralization over the 4km long Maverick corridor. Drill results include 20.8% U3O8 over 1.5m at 264m depth in hole ML-199, 9.12% U3O8 over 1.4m at 278m in hole ML-202 and 5.29% over 2.5m U3O8 at 279m depth in hole ML-200. Hole ML-202 represents a new high-grade discovery and illustrates the strong discovery potential of additional high-grade lenses along strike. The Company is planning additional drill programs to expand the known high-grade Maverick Zone and to test basement-hosted targets as well as regional targets.
Uranium and thorium mineralization discovered to date at Falcon Point is shallow and is hosted in two geological settings, with the southern half hosting classic Athabasca-style basement mineralization associated with well-developed EM conductors which include EWA, Walker and Fraser Lakes zones. Drilling to date on the Falcon Point Project totals over 22,000 metres in more than 110 holes. Over $15 million has been invested in exploration consisting of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.
The Hook Lake Project (formerly North Falcon Point) consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. The Project is host to several prospective areas of uranium mineralization including the Hook Lake / Zone S High-grade surface outcrop with reported grades in grab samples up to 68% U3O8. A bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.
The Preston Project is a large land position totaling 49,635 hectares strategically located proximal to NexGen Energy's (TSX-V: NXE) high-grade Arrow uranium deposit and Fission Uranium's (TSX: FCU) Patterson Lake South Triple R deposit. In March 2017, Skyharbour and its Preston partner company Clean Commodities signed an option agreement with Orano Canada Inc. (formerly AREVA) to option up to 70% of the project for $8,00,000 in total project consideration ($7,300,000 in exploration and $700,000 in cash payments over six years). In March 2021, Orano completed the first earn-in of 51%, by completing $2,800,000 in exploration expenditures and making a total of $200,000 in cash payments over three years, and thus forming a joint venture with Skyharbour Resources and Dixie Gold both retaining a 24.5% interest. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential and Skyharbour is utilizing the prospect generator model to advance this project with strategic partners.
The East Preston Uranium Project is a large land position totalling 25,329 hectares, representing the eastern region of the larger Preston Project strategically located near NexGen Energy Ltd’s high-grade Arrow deposit on its Rook-1 property and Fission Uranium Corp’s Triple R deposit located within their PLS Project area. In March 2017, Skyharbour signed an option agreement with Azincourt Uranium to option up to 70% of the East Preston Uranium Project for $3,500,000 in project consideration ($2,500,000 in exploration expenditures over three years and $1,000,000 in cash payments) and 4,500,000 shares. In February 2021, Azincourt completed their earn-in option of a 70% interest in the East Preston Uranium Project and formed a joint venture with Skyharbour Resources and Dixie Gold each holding a 15% interest in the Project.
The 3,473 hectare Mann Lake Uranium Project is 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 Orano (formerly 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. In 2014, Skyharbour 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. In October 2021, an option agreement was signed with Basin Uranium Corp providing them with an earn-in option to acquire up to a 75% interest in the Mann Lake Uranium Project.
Skyharbour Resources holds a 100% interest in the approximately 1,780 acres of land that includes the former Selco South Bay copper-zinc-silver mine. The South Bay property is located in the Dent, Mitchell, and Agnew Townships, 80 kilometres east-northeast of Red Lake in northwestern Ontario.
The 54,184 hectare Yurchison Lake property, acquired from Denison Mines Corp in 2014, is located 70 kilometres southeast of the McArthur River uranium mine and 35 kilometres east of the Moore Lake joint venture property. Skyharbour Resources holds a 100% interest in the project.
The West Dufferin Project of Skyharbour Resources Ltd. consists of a single claim (MC00013278) totalling 2650 ha in the Athabasca Basin of northern Saskatchewan, Canada. The claim covers a relatively underexplored portion of the Athabasca Basin west of the Virgin River Shear Zone. The project is roughly 4 km to the NE of a drill hole (FH-7) drilled by Inexco in 1979, which intersected up to 0.139% U3O8 in Athabasca Group sandstone.
Foster River consists of seven claims totalling 37,529 hectares, located approx. 20km east of Cameco’s Key Lake operation and adjoins South Falcon project. The property contains numerous uraniferous showings including the Tojo, Burd Lake, and BUP showings, where grab samples returned uranium values ranging from 262 ppm U to 1.25% U3O8 in pitchblende veins.
The Pluto Bay property is 27,918 hectares located northeast of Black Lake and hosts numerous uranium showings and several electromagnetic conductors east of the regional Black Lake Fault.
The Riou River Project is a 18,227 hectare property located along the Riou River in the Athabasca Basin. It contains over 40km of discrete undrilled electromagnetic conductors along a magnetic low and anomalous boulder geochemistry.
The South Dufferin project totals 12,282 hectares in eight claims and is located immediately south of the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the southern extension of the Virgin River Shear Zone, which hosts known high-grade uranium mineralization at Cameco Corp.'s Dufferin Lake zone approximately 13 kilometres to the north (highlight drill results of 1.73% U3O8 over 6.5 metres) and Cameco Corp.'s Centennial deposit approximately 25 kilometres to the north (includes drill intersections up to 8.78% U3O8 over 33.9 metres).
The Usam Island project consists of 8 claims totalling 42,186 hectares located approx. 21km northeast of Cameco’s Eagle Point mine. It contains numerous electromagnetic conductors situated along significant magnetic lows of the Wollaston Domain.
The Wallee project, consisting of 4 claims totalling approx. 20,765 hectares, is located ~35km northwest of Cameco’s Eagle Point Mine. It has numerous untested electromagnetic conductors coinciding with significant magnetic and/or gravity lows in the Wollaston Domain.