- Skyharbour (SYH) to carry out multiple phases of diamond drilling totalling 10,000 metres at the Russell Lake Uranium Project
- This fully funded and permitted drill program will test previously identified prospective target areas
- Of particular interest for this inaugural drilling program will be the Grayling Zone
- The best historical drill hole at the Grayling Zone is hole RL-85-07
- In addition to this, there was also an interval of 0.1 per cent U3O8 over 0.5 metres at a depth of 366.4 metres
- Skyharbour Resources (SYH) is up 8.70 per cent, trading at C$0.38 at 1:03 pm EST
Skyharbour Resources (SYH) is planning 10,000 metres of diamond drilling over three phases to be completed by September of next year.
Jordan Trimble, President and CEO of Skyharbour, added, “This is a key milestone for Skyharbour and will provide consistent news flow for the next year.”
Russell plans to carry out a first-phase, 3,000-metre drill program to follow up on notable historical exploration. In doing so, the company hopes to make new discoveries.
This fully funded and permitted drill program will test previously identified prospective target areas, some of which host high-grade uranium mineralization in historical drill holes.
Of particular interest for this inaugural drilling program will be the Grayling Zone.
This program will be the first of several phases of drilling at the project.
“Uranium properties with the pedigree and potential of Russell Lake are rare given the high-grade mineralization in historical drill holes coupled with the many highly prospective exploration targets that offer the potential to generate discoveries scattered across the large project area,” added Trimble.
Wide-spaced drilling at the Grayling Zone encountered an 800-metre-long discontinuous zone of uranium mineralization in a 2,200-metre section of thrust-faulted conductive basement rocks up to 100 metres thick.
The best historical drill hole at the Grayling Zone is hole RL-85-07.
At this hole, there was 0.3-metre interval grading of 3.45 percent U3O8, intersecting at a depth of over 363 metres.
In addition, there was also an interval of 0.1 per cent U3O8 over 0.5 metres at a depth of 366.4 metres.
The drill program at the Russell Lake project will focus on the significant gaps between mineralized holes to further define the mineralization and controlling structures at the Grayling Zone.
The Russell Lake Uranium Project has had over 95,000 metres of drilling in over 230 drill holes.
Several notable exploration targets exist on the property, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target.
The project has not seen limited exploration in the previous twelve years.
A fully permitted exploration camp on the project is ready for over forty people, located on the highway and within five kilometres of Denison’s Phoenix deposit.
Skyharbour has an extensive portfolio of uranium exploration projects in the prolific Athabasca Basin and is working on fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land.
Skyharbour has a joint venture with Orano Canada at the Preston Project whereby Orano has earned a 51 per cent interest in the project through exploration expenditures and cash payments.
Skyharbour Resources (SYH) is up 8.70 per cent, trading at C$0.38 at 1:03 pm EST.
