Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB) began its 2020 summer diamond drilling program at its flagship Moore uranium project in Saskatchewan's Athabasca Basin, it announced in a news release.
The plan is for 2,500 meters of drilling in seven to nine holes in follow-up to the company's winter drill program. Skyharbour stated that it will test unconformity and basement-hosted targets along the high-grade Maverick structural corridor, in part looking for potential underlying basement feeder zones.
Specifically, the Vancouver-based uranium explorer aims to expand the recently discovered high-grade mineralization at the Maverick East zone, to test the Viper target area along strike and to test new targets in the West Maverick area. The program is fully funded.
"This will serve as an important near-term catalyst for the company as we continue to drill test the fertile Maverick structural corridor with the intent of expanding known high-grade zones as well as discovering new ones," President and CEO Jordan Trimble said in the release. "Partner funded exploration programs at Skyharbourís other projects are slated to commence shortly as well."
To date, only 2.5 kilometers of the 4.7 kilometer long Maverick structural corridor have been systematically drill tested. As such, the company noted that discovery potential remains along strike, at the unconformity and at depth in the basement rocks below.
"The uranium market has recently shown notable signs of an accelerating recovery including increasing uranium prices and improving sentiment as we enter a more seasonally active time of year. This acceleration appears to be due to several sector developments including mine closures and production curtailment," Trimble noted.
Read what other experts are saying about:
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.
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 article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyharbour Resources, a company mentioned in this article.