About Skyharbour Resources
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well-positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of mineral claims.
Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone including highlight drill results of 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres.
Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Skyharbour has the option to acquire an initial 51% and up to 100% of Rio Tinto’s 73,294 ha Russell Lake Uranium Property strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. The Company now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. The Company now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit.
Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares. More recently, Skyharbour announced a new earn-in option agreement with Yellow Rocks Energy to earn in up to 80% in both the Wallee and Usam Island Projects by making AUD $50,000 in cash payments, spending AUD $4,500,000 in exploration, and issuing a total of AUD $2,025,000 worth of Yellow Rock shares to Skyharbour, subject to listing on ASX and financing.
Skyharbour also owns a 100% interest in the 44,470 ha South Falcon Point Project located in the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The Company has recently optioned up to 75% of this project to Tisdale Energy whereby Tisdale will fund exploration expenditures totaling CAD $10,500,000, pay Skyharbour $4,600,000 in cash, and issue Skyharbour the equivalent value of $7,000,000 in shares of the company over a five-year earn-in period.
Furthermore, Skyharbour’s project portfolio is bolstered by another seven projects scattered throughout the Athabasca Basin:
- Riou River – 18,227 ha along the Riou River within the Athabasca Basin, contains over 40km of discrete undrilled EM conductors along a magnetic low and anomalous boulder geochemistry
- Pluto Bay – 28,840 ha, northeast of Black Lake hosting numerous uranium showings and several EM conductors east of the regional Black Lake Fault
- Wallee – 20,765 ha, approximately 35km northeast of Cameco’s Eagle Point deposit, numerous untested EM conductors coinciding with significant magnetic and/or gravity lows in the Wollaston Domain
- Usam Island – 42,186 ha approximately 21km northeast of Cameco’s Eagle Point deposit, contains numerous EM conductors situated along significant magnetic lows of the Wollaston Domain
- Foster River – 37,529 ha, southwest and adjoining Skyharbour’s Falcon Point South project, numerous uranium showings up to 1.25% U3O8
- South Dufferin – 922 ha, along the trend of the Virgin River Shear, which hosts Cameco’s Centennial high-grade uranium deposit, 32km to the north
- West Dufferin – 2,650 ha, underlain by rocks of the Talston Domain, 19km southwest from Cameco’s Centennial high-grade uranium deposit
Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
To learn more about Skyharbour, please contact:
Jordan Trimble
E: [email protected]
T: 604.639.3856 TF: 1.800.567.8181
To learn more about Skyharbour, go to https://skyharbourltd.com/
For more information on the activity in the Athabasca Basin and to see the digital map, go to https://digigeodata.com/area/athabasca-basin/