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.
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