Location Map of
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1
As reported on
- P03: A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered between 193.5 - 196.0m coincident with the projected location of the modelled EM conductor. Below this fault zone from 196.6 to 209.0m, multiple samples had elevated uranium content including two samples with greater than 300 ppm U3O8.
- P08: A 4.7m interval between 42.3 - 47.0m returned 316 ppm U3O8 with one sample in the interval returning the highest reading from the program, 572 ppm between 42.3 - 42.8m. From 102.3 - 105.5m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the EM conductor.
- Next Steps: Given the encouraging results,
North Shore will evaluate potential options for further evaluation of the uranium-bearing structures associated with targets P03 and P08, including drilling deeper and/or shallower and/or along strike of the interpreted EM conductor. As the modelled target at P12 was not reached,North Shore will consider re-testing this target. In addition, multiple high-priority target zones that have been identified at Falcon have not yet been evaluated by drilling.North Shore is currently planning a field program to investigate the highest priority targets by mapping and prospecting and continues to prioritize targets for future drilling.
Electromagnetics with 2024 Drill Targets P03, P08 and P12:
https://www.skyharbourltd.com/_resources/images/Electromagnetics-with-2024-Drill-Targets.jpg
Mr.
TABLE 1: Falcon Drilling Results
Drillhole Information | Anomalous Uranium U3O8 (ppm)1 | ||||||||||
ID | Target | Dip (°) | Azi (°) | Cover (m) | Total Depth (m) | # Samples | From (m) | To (m) | Interval (m) | Interval Value | Max. Value |
FN24001 | P03 | -50 | 135 | 5.8 | 230 | 120 | 5.8 | 196.6 | NAR | 36 | |
196.6 | 197.1 | 0.5 | 378 | 378 | |||||||
197.1 | 199.5 | NAR | 86 | ||||||||
199.5 | 201.1 | 1.6 | 182 | 321 | |||||||
201.1 | 203.1 | NAR | 27 | ||||||||
203.1 | 203.8 | 0.7 | 105 | 105 | |||||||
203.8 | 205.7 | NAR | 61 | ||||||||
205.7 | 206.3 | 0.6 | 345 | 345 | |||||||
206.3 | 208.5 | NAR | 42 | ||||||||
208.5 | 209.0 | 0.5 | 130 | 130 | |||||||
209.0 | 230 | NAR | 8 | ||||||||
FN24002 | P08 | -47 | 120 | 30.5 | 144 | 46 | 34.0 | 40.6 | NAR | 51 | |
40.6 | 41.2 | 0.5 | 103 | 103 | |||||||
41.2 | 42.3 | NAR | 98 | ||||||||
42.3 | 47.0 | 4.7 | 316 | 572 | |||||||
47.0 | 67.6 | NAR | 49 | ||||||||
67.6 | 68.4 | 0.8 | 110 | 110 | |||||||
68.4 | 69.4 | NAR | 22 | ||||||||
69.4 | 71.0 | 1.6 | 128 | 132 | |||||||
71.0 | 109.5 | NAR | 96 | ||||||||
FN240032 | P12 | -47 | 315 | 2.5 | 106 | 39 | 2.5 | 94.0 | NAR | 11 |
1ICP-MS uranium total digestion analysis results were converted to U3O8 ppm values. Cutoff and anomalous U3O8 value is 100 ppm. Minimum sample interval, 0.5 m. NAR= no anomalous results. All reported sample depths are drill hole depths and intervals and do not reflect true thicknesses.
2The drillhole was abandoned at 106m owing to unstable ground conditions prior to reaching the target depth of 125m.
Target P03:
An interpreted section from drillhole FN24001, which was drilled to a depth of 230m at target P03 is shown in the image below.
Drill Hole FN24001:
https://www.skyharbourltd.com/_resources/images/Drill-section-from-drillhole-FN24001.png
Underneath six metres of overburden, an alternating succession of metasedimentary rocks comprised of variably garnet-rich graphitic pelitic gneisses crosscut by numerous pegmatites was encountered to 222.5m. A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered within the graphitic gneiss unit between 193.5 - 196.0m; the projected EM conductor intersection depth was 195.0m. The key interval is just below this fault zone from 196.6 - 209.0m where multiple samples had elevated uranium content including three samples with greater than 300 ppm U3O8 with the highest value being 378 ppm U3O8 (Table 1). Strong localized chlorite and silica alteration and multiple pegmatite intrusions were observed in this zone. Anomalous nickel values between 275 and 527 ppm were reported between 193.0 - 197.1m. Anomalous molybdenum values between 140 and 193 ppm were reported in three samples between 200.6 - 203.1m. The combination of the spatial relationship between anomalous uranium content, the graphitic horizon, the structure and alteration are exploration criteria that are important when exploring for a basement-hosted uranium deposit.
Drill Core Highlighting Anomalous Interval:
https://www.skyharbourltd.com/_resources/images/drill-core-photo-from-anomalous-interval-which-returned-258-ppm-U3O8.png
Target P08:
An interpreted section from drillhole FN24002, which was drilled to a depth of 144m at target P08 is shown in the image below.
Drill Hole FN24002:
https://www.skyharbourltd.com/_resources/images/Drill-section-from-drillhole-FN24002.png
After intersecting 30.5 metres of overburden, an alternating succession of metasedimentary rocks comprised of variably garnetiferous and graphitic pelitic gneiss and schist cross-cut by numerous plagioclase and K-feldspar granitic pegmatites was encountered to 132.3m. Granitic gneiss intersected by K-feldspar granitic pegmatites is present until the end of hole at 144m. The graphitic units were host to up to 30 percent graphite, with localized patches up to 60 percent. Two zones with elevated uranium were encountered. Within a zone from 40.6 - 49.0 m, a 4.7m interval between 42.3 - 47.0m returned 316 ppm U3O8 with the highest reading in the interval being 572 ppm between 42.3 - 42.8m. This interval is associated with an interpreted brittle fault zone between 43.9 - 49.0m. Between 67.6 - 71.0 m, a pegmatite-rich brittle fault zone comprised of fractured pegmatites and blocky and rubbly graphitic metasediments was encountered. A 3.4m interval between 67.6 - 71.0m had uranium values in samples ranging from 110 - 128 ppm U3O8. The entire graphitic schist upper portion of the hole displayed very strong patchy chlorite-cordierite-hematite-illite alteration to 102.3m. From 102.3 - 105.6m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the EM conductor along with strong bleaching (illite+/-sericite) clay alteration, strong hematite and chlorite along fractures and patchy silica alteration. The alteration minerals associated with the interpreted structure can be indicative of a proximal hydrothermal system and significant uranium was encountered associated with pegmatites in the upper brittle fault zone. The Company will consider further investigation of these interesting features in the future.
https://www.skyharbourltd.com/_resources/images/drill-core-photo-showing-part-of-the-altered-fault-zone-that-corresponded-with-the-EM-conductor.png
The Option Agreement:
Laboratory Analyses, Quality Control, Quality Assurance and Analytical Procedures:
The analyses were performed by the
The drill program was managed by
QA/QC protocols were maintained through the random insertion of blanks and certified reference material (standards) throughout the drill core sampling process. The drill core was split in half with a manual splitter in the field, select split sample intervals were then placed in a sealed bag and transported by TerraLogic personnel to the SRC; the remainder of the core was stored on site. Upon receipt of the results from the SRC, the program, TerraLogic compiled and assessed all of the analytical data including the QAQC standard and blank data collected during the 2024 season. All standards returned acceptable values based on the following protocol: Failure Limit = Accepted CRM value +/- 3x standard deviations.
The Falcon Property is approximately 50 km east of the
A well-defined northeast-trending, locally folded, electromagnetic conductor system runs throughout the Property, which was defined by airborne and ground geophysical surveys by JNR Resources (“JNR”) in the 2000’s. In 2008 JNR conducted a drill campaign at the property area. Of the 47 holes drilled that year, 28 holes (totaling 7,348 metres) were drilled on the South Falcon Uranium Property at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes). At the Walker and South Walker targets, which lie along the aforementioned EM conductor system, structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were encountered in several drill holes. During this same drill campaign, the Fraser Lakes Zone B uranium deposit was discovered approximately four kilometres east of the Walker South target on a refolded extension of the EM conductor system. At the EWA target, which lies along a separate northeast-trending EM conductor, anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U3O8 over 0.5 m (within a 3.5 m interval of 0.113% U3O8) in hole
Furthermore, in 2022, Skyharbour completed a FALCON® airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the Falcon Property. This new geophysical data will assist
Significant potential exists on the project for basement-hosted, unconformity-related uranium deposits like those further to the north in the Wollaston Domain (i.e.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by
About
About
Skyharbour holds an extensive portfolio of uranium exploration projects in
Skyharbour has joint-ventures with industry-leader
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.
Skyharbour’s Uranium Project Map in the
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about
“Jordan Trimble”
President and CEO
For further information contact myself or:
Investor Relations Manager
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
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The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Source:
2024 GlobeNewswire, Inc., source