Positive Drill Results from U3O8 Project in Prolific Basin
Research Report

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Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced more drill results from its Moore uranium project in the eastern Athabasca Basin in Saskatchewan and its next drill campaign there, reported Haywood Securities Analyst Marcus Giannini in a Jan. 14 research note.

"Today's results underscore the relatively shallow, high-grade nature of mineralization at Moore, with multiple high-grade lenses at Maverick Main and Maverick East open along strike and at depth, highlighting further expansion potential," wrote Giannini.

No Rating or Target Price

Haywood does not have a rating or target price on Skyharbour, noted Giannini. At the time of his report, the explorer's stock price was about CA$0.44 per share (CA$0.44/share).

The British Columbia-based mining junior has 210.8 million shares outstanding. Its market cap is CA$93 million. Its 52-week range is CA$0.28–0.50/share.

High Grades Encountered

This new batch of drill results is from Moore's Maverick Main zone and Maverick East zone. Maverick Main returned high grades. Hole ML25-15, for instance, returned 4.84% U3O8 over 4.4 meters (4.4m) starting 264m downhole, including 11.77% U3O8 over 1.6m. The uranium mineralization this hole encountered was immediately above the Athabasca unconformity, was high grade, and was hosted in sandstone. Results from this very hole provided important bulk density measurements from high-grade mineralization, helpful due to the paucity of such data historically.                              

Mineralized Extensions Hit

Skyharbour drilled four holes at Maverick East, targeting mineralization proximal to stepout hole ML24-15 that previously had shown 1.50% U3O8 over 6.4m, including 4.74% U3O8 over 1.5m, noted Giannini. Three of the four holes tested for extensions of the mineralized zone to the northeast of the prior ML24-15 stepout hole. Of those, hole ML25-12 returned 0.07% U3O8 over 1.5m. Hole ML25-01 intersected 0.02% U3O8 over 2m at and just below the unconformity.

"While high-grade mineralization was elusive, the presence of even low-grade uranium suggests the presence of a nearby feeder structure," Giannini wrote.

Skyharbour plans additional drilling in this area.

Regional Drilling Prospective

Nomad: Skyharbour drill tested a new regional target, the Nomad zone, located 1.7 kilometers (1.7 km) west-southwest of the Main Maverick zone, reported Giannini. The specific area tested was where the Maverick structural corridor seems to converge with another parallel corridor, one that trends north-northwest. Results showed key indicators and features of uranium mineralization situated proximally, including bleaching, hematization, faulting, silicification, and clay alteration.

"In turn, we expect this area to feature prominently in upcoming exploration plans, with a series of gravity-defined targets planned for testing during Skyharbour's upcoming winter program," wrote Giannini.

Esker: Another area Skyharbour drill tested in 2025 is the Esker zone, about 2 km northeast of the Maverick zones, noted the analyst. Drilling numerous targets encountered weak uranium mineralization just below the unconformity noted via hole ML25-04. Subsequent holes confirmed the presence of a graphitic conductor and elevated radioactivity in basement rocks.

The explorer plans to follow up on these drill results by testing the strike extent of mineralization in ML25-04 to the northeast.

What is Next at Moore

Skyharbour has a 5,000–6,000m winter drill program at Moore planned, reported Giannini. The focus will be twofold: prospective regional targets and extensions of known uranium mineralization. This campaign, to commence in February, is the first phase in the company's multiphased program planned for this year at Moore, to comprise 8,000–10,000m.