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Skyharbour begins diamond drill program at Moore Lake uranium project in Canada

Published 09 February 2017

Skyharbour Resources has commenced its planned 3,500m drill program on its flagship Moore Lake Uranium Project located on the east side of the Athabasca Basin.

The program will continue through February into late March / early April with the majority of the drilling planned on and along strike of the high grade Maverick Zone which is land-based and accessible year round.

Jordan Trimble, President and CEO of Skyharbour Resources, states: "The commencement of our first diamond drill program at our flagship Moore Lake Uranium Project is a key milestone for Skyharbour and its shareholders. Uranium properties with the pedigree and potential of Moore Lake are rare with historical high grade mineralized results including 4.03% eU3O8 over 10 metres at the Maverick Zone as well as several shallow exploration targets that offer the potential to generate additional discoveries. The target areas in and around the Maverick Zone that we are drill testing with this initial 3,500 metre program provide strong discovery potential as we look to value-add the project using a systemic and proven exploration methodology. The Company is well funded to complete this drill program and will provide updates as results become available."

In June 2016, Skyharbour secured an option to purchase Denison Mine's Moore Lake project, on the southeastern side of the Athabasca Basin, in northern Saskatchewan. The project consists of 12 contiguous claims totaling 35,705 hectares located 42 kilometres northeast of the Key Lake mill, approx. 20 kilometres east of Denison's Wheeler River project, and 39 kilometres south of Cameco's McArthur River mine. Unconformity style uranium mineralization was discovered on the Moore Lake project at the Maverick Zone in April 2001. Historical drilling highlights include 4.03% eU3O8 over 10 metres (including 1.4 metres at 20% eU3O8) starting at a depth of 265 metres in hole ML-61. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test with future drill programs. The project is accessible via winter and ice roads which simplifies logistics and lowers costs.



Source: Company Press Release