Uranium, the Athabasca Basin and Skyharbour's Property Package:
The Athabasca Basin of northern Saskatchewan hosts the world's largest and richest high-grade uranium deposits accounting for approximately 20% of global primary uranium supply. Athabasca uranium deposits have grades substantially higher than the world average grade of about 0.14% U3O8. The two dozen or so known uranium deposits within the Athabasca Basin have average grades of more than 3.0% U3O8.
The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the new, shallow discoveries made by Alpha and Fission which includes the recently reported drill interval of 6.26% U3O8 over 49.5 metres in drill hole PLS 13-053. This mineralized zone is located approximately 400 metres to the northeast of discovery hole PLS 12-024 which returned 2.49% U3O8 over 12.5 metres. Consistent high grade, near surface U3O8 assays from Alpha and Fission demonstrates the potential for high grade uranium mineralization on the margins of the underexplored western side of the Athabasca Basin. There are still areas in the Athabasca region that are highly prospective and underexplored for high grade uranium as illustrated by Alpha's and Fission's recent discovery.
In early 2013, Skyharbour began to acquire uranium properties on what it considers to be highly prospective ground within the Patterson Lake area and the eastern flank of the Athabasca Basin culminating in seven properties totaling approx. 161,755 hectares of land. Six of the properties consisting of approx. 156,992 hectares of ground are strategically located to the north, south, east and west of the Patterson Lake South uranium discovery on the western flank of the Athabasca Basin. The properties were acquired for their proximity to the PLS discovery and interpreted favourable geology for the occurrence of PLS style uranium mineralization. A small amount of historical diamond drilling on two of the properties successfully confirmed the presence of graphite-bearing conductors in the region which are the primary targets at the high grade uranium PLS discovery to the north.
Skyharbour's early and low cost entry into the region will help to unlock shareholder value as exploratory work programs aim to make new discoveries. The Company has commenced the first phase of exploration on its Patterson Lake properties starting with an airborne geophysical survey to be followed up with a field program. EM and magnetometer surveys are being carried out to define basement conductors similar to the structures hosting the PLS discovery zones and a radiometric survey will help locate uranium boulder trains and in-situ uranium mineralization.
Robert Marvin, P.Geo., CPG, geologist for Skyharbour is the Qualified Person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a uranium exploration company with a large, geologically prospective land package consisting of seven properties in the Athabasca Basin of northern Saskatchewan. The Company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favourable jurisdictions. The Company has 35.8 million shares outstanding.
To find out more about Skyharbour Resources Ltd. (TSX VENTURE: SYH) visit the Company's website at www.skyharbourltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Jordan P. Trimble, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Skyharbour Resources Ltd.
604-687-3376 or Toll Free: 800-567-8181
Most Popular Stories
- American Airlines, US Airways Complete Merger
- ACA Delay Stresses Small Businesses
- Questions Remain in Jenni Rivera's Death
- Unemployed Wait as Lawmakers Debate
- General Dynamics Plans 200 New Jobs in N.M.
- Harley Issues Motorcycle Recall
- Dell Offers Undisclosed Number of Employee Buyouts
- Auto Dealer Builds Big Solar Project
- Saab Gets Back into the Game; U.S. Auto Sales Soar
- Entrepreneurs' Next Creation May Be New Laws