Project Summary:
The drill-ready Foster property now consists of 26 claims totaling 21,252 hectares approximately 20 km east of Cameco's Key Lake operation and adjoining the southwestern end of Skyharbour's Falcon Project, currently optioned out to North Shore Uranium Ltd. The Foster claims are situated in the Wollaston Domain just outside of the currently mapped extent of the Athabasca Basin, with several small outliers of sandstone located regionally in the area. The basement geology consists of psammopelite, calc-silicate, diorite, pelitic gneiss and graphitic pelitic gneiss of the Daly Lake Group, accompanied by minor felsic orthogneisses.
Foster Project Map:
Skyharbour has acquired these claims both through staking and the acquisition of additional claims from Eagle Plains. The claims acquired from Eagle Plains host geology are favourable for uranium and REE mineralization, with two significant mineralized areas, including the Great Plains Showing and the Red October Zone. There are numerous untested coincident geochemical and geophysical anomalies, many of which are drill-ready, with significant encouraging exploration to date for pegmatite- and fault-hosted uranium mineralization. Exploration in the Eagle Lake area at these claims between 1969 and the early 1980s resulted in the discovery of the Great Plains Showing. Exploration programs, including diamond-drilling, intersected intense alteration and shearing and high Radon-222 values. Notably, pitchblende mineralization was discovered in veins associated with fault structures. However, despite recommendations for a comprehensive follow-up program, further work was never carried out due to changing uranium market fundamentals. Another mineralized zone, the Red October Zone, was discovered in 2008 by Eagle Plains and consists of a 400 m intermittent uranium and REE-mineralized outcrop within a 1 km coincident soil geochemical and ground magnetic anomaly. In 2012, the Red October Zone was drill-tested, with all six holes encountering anomalous uranium and REEs.
Across the broader property package, prospective graphitic pelitic gneiss packages are exposed at surface. In addition to the two previously mentioned zones, the Foster project contains several other uraniferous occurrences, which often also host elevated REEs and thorium, and with samples collected on the property returning up to 657 ppm U, 6,644 ppm TREE, and 344 ppm Th. Significant untested potential exists on the Foster project for basement-hosted, unconformity-related uranium (“URU”) deposits, akin to those found further north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others), as well as for additional pegmatite-hosted uranium, thorium, and REE mineralization.
Skyharbour plans to seek a partner company to option and advance the Foster Project as a part of its prospect generator business. Eagle Plains will retain a 2% Net Smelter Return ("NSR") royalty, subject to reduction on certain claims by underlying NSR agreements.
*Please contact Aramcharan@sentinelmarket.com for additional information regarding the project available for option.