Skyharbour Resources Ltd. (SYH:TSX.V; SA:NYSE.MKT) announced in a news release the final results of the fall 2020 diamond drill program at its Moore uranium project in Saskatchewan's Athabasca Basin.
"We continue to discover new high-grade uranium mineralization at the Maverick Corridor in relatively wide intercepts of continuous mineralization," President and CEO Jordan Trimble said in the release.
The company noted that hole ML20-12, drilled in the center of the Maverick East zone, returned the second of the two longest, continuous intercepts of uranium mineralization encountered thus far at Moore. The hole showed 0.28% U3O8 over 17.9 meters (17.9m) from 268.1–286m, including 1.09% U3O8 over 2.5m from 281.5–284m. Mineralization was primarily basement hosted.
Also, the drill bit intersected up to 2.3% copper in the clay-altered lithologies roughly 100 meters below the unconformity in this hole.
Another drill hole, ML20-13, extended Maverick East's eastern end by at least 30 meters, the company reported. Encountering mostly basement-hosted mineralization, it returned 0.24% U3O8 over 11.3m from 273.7–285m, including 0.44% U3O8 over 3.5m from 281.5–285m.
A third hole, drilled between the Viper and Esker targets, confirmed the geological model for the area, the company stated. It showed highly anomalous boron values, of up to 1,320 parts per million, in the basement rocks and highly anomalous vanadium and nickel in the graphitic and pelitic gneisses.
Skyharbour noted that it has "initiated permitting for geophysical and diamond drilling programs to take place in the winter and summer seasons of 2021." During that campaign, "the drilling will follow-up on both unconformity and basement targets along the high grade Maverick corridor, as well as targets identified by the geophysical program and essentially untested prospective conductive corridors identified by Skyharbour's technical team. Of particular interest are potential underlying basement feeder zones to the unconformity-hosted, drill-indicated high-grade uranium mineralization along the Maverick corridor. These targets have seen limited historical drill testing," the company stated.
"Skyharbour is very well positioned to benefit from the accelerating uranium market recovery with strong discovery potential and upcoming news flow from its continued drilling at Moore," Trimble added.
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 decision to publish an article until three business days after the publication of the 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.