Field crew remobilized on the Sidace Lake Property
Dec 2, 2003
Skyharbour Resources Ltd (50%) reports on behalf of its joint venture partner, Consolidated Abaddon Resources Inc. (50%), that a field crew has been remobilized on the Sidace Lake Property located in Red Lake, Ont. following the onset of freeze up and winter. The 205 claim units (approximately 4000 hectares) are contained in 2 groups of claim blocks: the Black Bear Property adjoining the recent Goldcorp/Planet gold discovery on the Southwest and the Sidace Lake Property adjoining the same Goldcorp/Planet discovery on the Northeast. This newly discovered gold bearing geological formation has a defined strike direction of "southwest to northeast" and establishes both claim blocks as being on strike.
Skyharbour believes that its Sidace Lake and Black Bear Properties could be underlain by similar structures and lithologys associated to those hosting the new gold discovery on the Goldcorp/Planet Property.
A 35 km. grid has now been established on a portion of the Sidace Lake Property. An overburden drilling program, using this grid, is now in progress and is designed to test the base-of-till to determine bedrock sources of gold. An overburden-drilling program on the Black Bear Property will follow this program. Overburden drilling is a follow up of positive results received from the regional surface till sampling program completed earlier in the Fall 2003 exploration program. A comprehensive property scale compilation of all the exploration data and results to-date is in progress and it is anticipated that this compilation will assist in delineating drill targets for the proposed up-coming Winter 2004 program. A geophysical program consisting of a magnetometer/gradiometer survey will also be conducted early in the New Year.
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