Spring/Summer mineral exploration program on Sidace Lake Project begins
May 14, 2003
Skyharbour Resources Ltd. ("Skyharbour") is pleased to announce the start of its spring/summer mineral exploration program on its Sidace Lake Project. An aggressive and detailed till sampling program is to commence immediately followed by geochemical and geophysical programs. Previous airborne magnetic data is being digitized by the Company to aid in the interpretation of known geologic structures. The company has defined a number of iron carbonate alteration zones within the known existing mafic volcanic structures on the property. Recent geologic studies of the area suggest that the property is potentially underlain with the Balmar and Confederation Assemblage rock types.
The Sidace Lake Project properties adjoin (on the northwest and the southwest and on strike) the newly formed joint venture of Planet Explorations and Goldcorp. The property consists of approximately 5200 acres contained in 132 claim units located in the Black Bear Area, Red Lake District, and Northwestern Ontario. The Sidace Lake Project is 50% / 50% joint venture between Skyharbour and Consolidated Abaddon Resources Inc.
Skyharbour is also pleased to provide an update of its ongoing diamond drill program on its Baird Property, also in the heart of the Red Lake gold camp. Placer Dome (CLA) funds this drill program and, to date, approximately 2000 meters of drilling had been completed. A total of 3000 meters of drilling is planned for this phase. The drill program continues at a brisk pace and Skyharbour is very pleased with the progress to date. The company expects the Phase 1 drilling to be completed by the end of May. All assay results will be released simultaneously after the company has received and complied all of the data from the laboratory.
Skyharbour has optioned the Baird Property to Placer Dome (CLA) ("Placer") whereby Placer may earn 51% by spending $800,000 over two years. $350,000 of this is being spent on the current phase of drilling. Skyharbour remains the operator.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a Canadian junior mining company focused on gold exploration in the heart of the Red Lake greenstone belt, Ontario, near the prolific Campbell and Red Lake gold mines.
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