Drilling Starts On Sidace Lake Property, McKenzie Island To Follow
Nov 3, 2004
Red Lake, Northwestern Ontario
Skyharbour Resources Ltd. (the Company) announces it has contracted to Rodren Drilling of Winnipeg, Manitoba, approx. 2,500 metres of diamond drilling on two of its Red Lake properties in northwestern Ontario. A Diamond drill rig has been mobilized to the Company's 2,400 acres Sidace Lake property that is jointly held by Skyharbour Resources (SYH 70%) and Consolidated Abaddon Resources Inc. (ABN 30%). This second phase of 2004 diamond drilling began today.
The drill program on the Sidace Lake property will consist of approximately 5,500 feet of drilling in 4 to 6 holes. The Company has identified a 2 kilometre strike length of a highly prospective zone of foliated mafic and ultramafic structures that extend to the northeast of Sidace Lake.
The geophysical data profiling and the results from the summer 2004 soil sampling and detailed mapping program has lead Skyharbour to conclude that this northeast trending structure is to be interpreted as being the extension of the geological sequence that hosts the gold mineralization reported to date on the Goldcorp / Planet Exploration property that adjoins the Skyharbour / Abaddon Sidace Lake project on their west boundary. Previous results of the Goldcorp / Planet drilling have returned gold assays of up to 5.36 grams per ton over a 36.4 metre section of drill core (see Planet news release July 16/03). The Goldcorp/Planet joint venture is continuing with a drill program of their own at this time to the immediate west of the SYH/ ABN Sidace Lake Property.
Skyharbour Resources also announces that after Sidace Lake, it intends to continue with a drill program on its 5,100 acres McKenzie Island property jointly held by Skyharbour (SYH 20%) and Cypress Development Corp. (CYP 80%).
The companies acquired an additional 250 acres (the Patrie Block, May 2004) located on the east side of their McKenzie Island claims and then conducted a summer geological program of detailed mapping and sampling. Several dioritic intrusive bodies were identified along with zones of abundant xenoliths of volcanic and sedimentary rocks that have been identified in outcrops along the north margin of the Dome Stock. A large zone of calcite alteration along the northern part of the diorite may indicate proximity to an alteration system prospective for gold. What must be put in the context is that only about 10% of the property actually outcrops.
The Company's McKenzie Island property is adjacent on its east boundary to the major drill program in progress on the Gold Eagle property jointly held by Southern Star Resources and Exall Resources (see their news releases Oct. 20/04, Sept. 15/04, etc). It is assumed that the granodiorite structure that is being methodically drilled now by Southern Star/Exall, has the potential to continue to extend to the west onto the Skyharour / Cypress property. The Company proposes to drill approximately 2500 feet in 3-4 drill holes to ascertain the underlying geological features here on its Mckenzie Island project. The start up of this drill program is anticipated for the beginning of January 2005, as the start of Skyharbour's winter exploration program.
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 8 mineral properties totaling approx. 26,500 acres located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
DONALD C. HUSTON
President
For further information contact myself or:
Don Myers
Skyharbour Resources Ltd.
Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
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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