Skyharbour Resources Ltd and Consolidated Abaddon Resources Inc report that two holes (500 meters) have now been completed on the Black Bear Property and the drill rig is now mobilized to the Sidace Lake Property, in Red Lake, Ontario. This drill program initially called for 1500 meters to be drilled between the two properties, however, due to encouraging geological information indicating banded mafic volcanic zones in the first two holes on the Black Bear Property, the program will be expanded to 2000 meters. This will allow for additional drilling on the Black Bear Property before spring thaw. The current program on Sidace Lake entails 4-6 holes (approx. 1000 meters). Drilling is in progress.
These two properties comprise approximately 5500 acres in total. Preliminary exploration on these properties was completed in 2003, which consisted of prospecting, mapping, till sampling, overburden drilling and interpretation of existing geophysics. This initial exploration identified a large area with anomalous gold in tills on the Sidace Lake Property. This anomalous area was tested with 127 overburden holes that sampled till material lying directly on bedrock. An anomaly covering several hectares was defined from the overburden drilling. The anomaly has a distinct head with dispersion in the down ice direction. The gold anomaly has a near coincident arsenic anomaly that is slightly displaced down ice from the gold anomaly. These characteristics indicate a probable bedrock source on the property. The target flanks a northwest trending structure interpreted from airborne magnetic data. In addition to this large anomaly several other targets were identified from the overburden drilling.
Several significant exploration projects are currently underway along the East Bay Trend and its northeast extension. These projects include: the Rubicon McFinley Gold Project; the Wolfden/Placer East Bay Property, the Wolfden/Rubicon East Bay West Property, and the Planet/Goldcorp Sidace Lake Property, Goldcorp/Rubicon Red Lake North Property, and Goldcorp/Metalcorp Black Bear Property.
The Skyharbour/Abaddon Black Bear Property is located to the northeast of the Wolfden/Rubicon East Bay West Property and to the southwest of the Planet/Goldcorp Sidace Lake Property and the Skyharbour/Abaddon Sidace Lake Property is located on strike to the northeast of the Planet/Goldcorp Sidace Lake Property.
David J. Busch B.A. B.Sc. (hons.) P.Eng. is the qualified person, under the meaning of National Instrument 43-101, and has reviewed the data acquired on the Black Bear and Sidace Lake Property.
About Skyharbour Resources Ltd.:
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 9 mineral properties located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
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