Geophysical Crew Begins Exploration On McKenzie Island Gold Project, Red Lake, Ontario
Nov 24, 2005
Skyharbour Resources Ltd. announces that a geophysical crew has been mobilized onto its 20% owned and Cypress Development Corp. (TSX.V: CYP) 80% owned McKenzie Island gold project, located in Red Lake, northwestern Ontario. A line-cut grid has now been established at the east end of the companies McKenzie Island property, immediately to the southwest of the Exall Resources / Southern Star Resources ongoing drill program on their Gold Eagle property located in the Bruce Channel area. The Geophysical program now underway will consist of a detailed Magnetometre survey and an Induced Polarization (IP) survey. The detailed geophysical surveys are being carried out over the MacAndrew East Zone and will further delineate prioritized diamond drill targets already identified through past exploration programs.
The Skyharbour / Cypress Development joint venture has undertaken an initial evaluation of the MacAndrew East Zone. The past exploration programs consisted of till sampling by overburden drilling and Mobile Metal Ion (MMI) soil surveys, resulting in the establishment of several areas of elevated gold-in-tills settings on the east part of the property.
Further exploration on the McKenzie Island property will be directed at identifying new target settings and drill testing those of merit. It is the Company's position that there remains significant potential for gold deposits to be discovered on its McKenzie Island property.
Skyharbour Resources intends to commence its winter 2005 / 2006 diamond drill program on the MacAndew East zone on its McKenzie Island property as soon as freeze up is complete.
Click Here For Proposed Drill Hole Location Map
A total of 19.2 million ounces of gold have been produced from 13 mines in the Red Lake area. Gold production has been continuous since 1930 when the Howey Gold Mine entered production. Current gold production is around 700,000 ounces per year from the Campbell mine of Placer Dome and the Red Lake mine of Goldcorp.
David J. Busch, B.A., B.Sc., PGeo. 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 exploration company that focuses on the acquisition and exploration of projects in northwestern, Ontario. The Company has options or interests in 5 mineral properties 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.
VP Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
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.