BLACK BEAR / SIDACE LAKE PROPERTIES
Skyharbour Resources Ltd reports that the Company has commenced a detailed prospecting and geological work program on its Sidace Lake and Blackbear properties in the Red Lake mining district of Northwestern Ontario.
The exploration management committee has recommended that this further exploration be conducted as a follow up of the Company's initial drill program carried out in March /April of 2004. The winter drill program consisted of 1,450 metres in 7 drill hole locations (4,750 feet drilled).
As previously reported, diamond drill hole SL4-04 was successful in establishing a trend of mafic volcanics on to the east side of the Sidace Lake property. The identification of this mafic volcanic suite of rock type is significant, as these mafic volcanics are believed to be the strike extension of the geological sequence hosting the gold discovery on the adjoining Goldcorp/Planet Exploration property to the west. Diamond drill holes #BB4-01 to BB4-03 on the Black Bear property identified a belt of mafic volcanics with pyritic interflow sediments several hundred metres wide. Sulphides and veining were encountered in the mafic unit but no economic gold values were received from assaying. However, the major intersections of volcanics encountered in 4 of the drill holes are considered to be very significant in that the Sidace Lake / Blackbear area has very limited outcropping exposure due to the thick overburden coverage from end moraine deposition. Little to no work has ever been done on these claims in the past.
The work program now under way on the Sidace Lake / Blackbear properties will be directed at extending the structures and lithologies of the newly discovered mafic volcanic zones that have the potential to host gold mineralization. It is anticipated that this comprehensive geological work program will benefit the Company in establishing a Phase 2 drill program, to begin early in the fall of 2004.
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 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 Sidace Lake Property is located on strike to the northeast of the Planet/Goldcorp Sidace Lake Property.
Data from Skyharbour's Baird property drilling program in 2003 is being evaluated using 3-D modeling. Additional drilling has been recommended on the property. Placer Dome is currently earning an interest in the property. The Baird property borders Claude Resources / Placer Dome's Madsen project to the south, and Goldcorp projects to the north & east.
MCKENZIE ISLAND PROPERTY
Additional mineral rights have been acquired on the Company's McKenzie Island property to cover a geological setting that has similarities to the McKenzie Red Lake and Gold Eagle mines on the eastern end of the island. Discussions are ongoing in an effort to find a possible joint venture partner to fund further work on the property. The McKenzie Island property is west and adjacent to the announced gold discovery on the Southern Star / Exall Gold Eagle property.
Results from the 2003-2004 drilling program on Skyharbour's Heyson property is being evaluated. A large alteration system has been identified. Although 'high-grade' gold values were intersected within the system (2003 drilling intercepted 59.4 grams/ton over 0.4 metres), it shows some hallmarks of a base metal setting. The Company is considering a possible joint venture to fund further work on the property. The Heyson property is 5 kms south of the Goldcorp Red Lake and Placer Dome Campbell Mines.
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 totaling 28,000 acres located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don C. Huston"
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd..
Toll Free: 800-567-8181
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