Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB) announced in a news release it intersected high-grade uranium in the Maverick zone and discovered a new target at its flagship Moore project in the Athabasca Basin in Saskatchewan.
During its winter-spring 2019 diamond drilling program, the company hit one of the broadest zones of uranium mineralization ever encountered on the property, and it is one with a basement component. Hole ML19-06 in the zone returned 0.62% U3O8 over 12 meters (12m) and in the basement rocks demonstrated 2.5m of 2.31% U3O8.
Skyharbour also discovered a new target, the Otter zone, with potential for high-grade uranium as well. Otter is about 7 kilometers (7 km) northeast of Maverick. In Otter, hole ML19-04 returned 0.15% U3O8 over 0.5m in the basement rocks.
To date, the company has drill tested 2 km of the total 4-km-long Maverick corridor, leaving discovery potential along strike as well as at depth.
To follow up on the winter-spring results, Skyharbour plans to start another diamond drill campaign in the coming months. During that, it will test highly prospective potential feeder zones in the basement rock in the Maverick corridor and further explore the new Otter zone.
"Skyharbour is well-positioned to benefit from the continuing uranium market recovery with strong discovery potential and ample upcoming news flow from its drilling at Moore, as well as from its partner companies' Orano Canada Inc. and Azincourt Energy's recently announced and upcoming exploration programs," President and CEO Jordan Trimble said in the release.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Skyharbour Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyharbour Resources, a company mentioned in this article.
