Skyharbour Resources Ltd. (SYH-TSX.V) and its joint venture partner ITL Capital Corp. (ICL-TSX.V), announce that Rodren Drilling Ltd. has been appointed as the drill contractor for the HB (Heyson) gold project. Work is currently in progress on the Heyson property and a Phase 3 5000 meter drill program is being planned for the upcoming winter.
The crews are being mobilized to the property and the drill program is expected to begin within the next week, with approximately 1000 meters to be drilled and completed before the end of the year. All exploration and drilling on the Heyson Project is now financed by Skyharbour (51%) and ITL Capital (49%), with Skyharbour continuing as the operator of the project. The property is situated 7 kilometers south of Placer Dome's Campbell Mine and Goldcorp's Red Lake Mine in the Red Lake gold belt, Northwestern Ontario.
Heyson High-Grade Gold Project
The Heyson property represents one of the more attractive undeveloped potential resource areas in the Red Lake gold camp, and is currently ready for a Phase 3 drilling program. A total of 2018 meters of diamond drilling (13 holes) have been completed on the Heyson property, by Skyharbour, in 2003. The holes were drilled within the large Sully Creek "gold-in-till" anomaly as identified by an extensive 2002 till sampling program. A grid has been established on a portion of the property and a total field and vertical gradient survey has been completed over the head of the "gold-in-till" anomaly. Further analysis of the data obtained from this recent survey has helped to further delineate proposed drill targets for a Phase 3 program.
The immediate 3-hole, 1000 meter drill program will begin by testing the, continuity of the high-grade gold mineralization intersected to date on the "Sully Creek Zone". Significant gold values (59.4 grams gold per ton over .4 meters) were encountered in drill hole HO3-3. This intercept was in a vein within a 15 meter thick "hemitite-epidote-silica" highly altered zone of fracturing and brecciation. Drilling has identified significant widths of this style of alteration along a strike length of over 300 meters. This alteration assemblage is typical of a number of past and present gold producing mines in the Canadian Archean. Skyharbour and ITL Capital are hopeful that the "Sully Creek Anomaly" and its previous gold intercepts can be expanded upon through their upcoming 2003/2004-winter drill program.
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