Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Purecore Metals (“Purecore”) has commenced a comprehensive data compilation and technical review program at the Yurchison Uranium Property (“Yurchison” or the “Property”) in the Athabasca Basin, northern Saskatchewan.
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company → announce → Basin
The program is intended to consolidate historical and modern geological, geochemical, geophysical and exploration information into an integrated project database and geological framework.
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program → intend → database
The resulting dataset will be used to refine areas of interest, identify where multiple layers of technical evidence converge and prioritize targets for potential future field exploration.
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layers → result → exploration
Yurchison Property Map:
Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure located in the Wollaston Domain of Northern Saskatchewan, Canada.
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Yurchison → consist → Saskatchewan
Purecore may acquire an initial 70% interest in and to the Property, subject to a 2.0% net smelter return royalty retained by Skyharbour, by making cash payments to Skyharbour totalling C$350,000, issuing common shares of Purecore having an aggregate value of C$700,000, and incurring a minimum of C$3,500,000 in exploration expenditures on the Property.
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Purecore → acquire → Property
Purecore may earn an additional 30% interest in the Property, for a total 100% interest and subject to the NSR Royalty, by making an additional cash payment to Skyharbour of $3,000,000 and issuing additional common shares having a value of $3,000,000 for combined project consideration of $10,550,000.
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Purecore → earn → 10,550,000
Much of the earlier exploration was completed prior to 2000, with additional modern airborne geophysical work completed in recent years.
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Much → complete → years
The current program is expected to include:
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Review of historical uranium occurrences, prospecting results and previous exploration targets;
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Review of historical uranium occurrences, prospecting results and previous exploration targets;
- Assessment of structural and geological controls that may be relevant to uranium mineralization;
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Review of historical uranium occurrences, prospecting results and previous exploration targets;
- Assessment of structural and geological controls that may be relevant to uranium mineralization;
- Comparison of geophysical conductors, structural features, geochemical anomalies and historical exploration results; and
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Review of historical uranium occurrences, prospecting results and previous exploration targets;
- Assessment of structural and geological controls that may be relevant to uranium mineralization;
- Comparison of geophysical conductors, structural features, geochemical anomalies and historical exploration results; and
- Ranking of priority areas for potential follow-up exploration.
Peter Berdusco, President and Chief Executive Officer of Purecore, commented: “Yurchison has decades of exploration history and a significant volume of modern geophysical data.
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Yurchison → expect → data
This program brings that information together into an integrated geological framework to refine our understanding of the Property and prioritize areas for future exploration.
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program → bring → exploration
Previous work at Yurchison includes a 1,424 line-kilometre high-resolution airborne magnetic survey completed at 50-metre line spacing, as well as earlier VTEM work that identified multiple geophysical zones of interest.
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that → include → interest
Additional airborne magnetic, radiometric and VLF-EM surveys have also been completed across the Property.
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surveys → complete → Property
Historical exploration at Yurchison identified uranium mineralization in several areas of the Property, including prospecting near historical trenches that returned values ranging from 0.09% to 0.30% U3O8.
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that → identify → U3O8
These results, together with historical and modern geophysical datasets, will form part of the current compilation and technical review.
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results → form → compilation
Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure and is roughly 75 km south of Cameco’s Rabbit Lake operation, with Highway 905 running through the claims.
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Yurchison → consist → claims
It is underlain by Wollaston Supergroup metasedimentary gneisses, including psammopelitic to pelitic gneisses, graphitic pelitic gneisses adjacent to Archean granitic gneisses in the Eastern Wollaston Domain.
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It → underlie → Domain
The Property area has seen significant historical exploration including airborne electromagnetic, magnetic, and radiometric surveys, as well as ground magnetic, EM, IP, and gravity surveys, prospecting, geological mapping, geochemical sampling, and drilling.
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area → see → surveys
The drilling was primarily conducted between the 1960’s and 1980’s with additional work completed in the mid-1990’s and 2000’s.
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drilling → conduct → mid-1990
Prospecting near old trenches returned uranium (0.09% to 0.30% U3O8) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in both outcrop and float samples.
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Prospecting → return → samples
The Property boasts strong discovery potential for both basement-hosted uranium mineralization as well as copper, zinc and molybdenum mineralization.
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Property → boast → mineralization
The majority of the work at Yurchison was completed before 2000, with limited follow-up since, and most of the Property remains underexplored.
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most → complete → Property
The historical exploration on the western side of Yurchison focused on uranium showings while on the eastern side of the Property it was largely focused on exploring SEDEX-style Pb-Zn mineralization following the discovery of the historic George Lake Pb-Zn Deposit proximal to the Property. There
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it → focus → Property
are several uranium, molybdenum, and thorium showings, which remain highly prospective for both basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted Cu-Pb-Zn mineralization.
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which → remain → uranium
The most recent work included airborne EM (VTEM and VLF-EM), magnetics, and radiometrics surveys flown in 2022 and 2023.
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work → include → 2022
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 Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.
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information → prepare → Skyharbour
Purecore Metals Inc. is a mineral exploration company listed on the Canadian Securities Exchange (CSE: PURE) and the Frankfurt Stock Exchange (FSE: J8Y).
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Inc. → list → Exchange
Purecore is focused on advancing the materials that power modern energy systems and emerging technologies.
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that → focus → systems
Purecore is building a critical minerals portfolio aligned with long-term trends across the energy, technology, and defense sectors, with a strategy centered on high-impact opportunities and disciplined execution.
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Purecore → build → opportunities
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 interest in forty-four projects covering over 682,100 hectares (1.69M acres) of land.
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Skyharbour → hold → land
Skyharbour owns 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.
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which → own → mine
Adjacent to Moore, Skyharbour is advancing several uranium properties within the broader Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines.
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Skyharbour → advance → partner
Collectively these co-flagship projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working on these assets through exploration and drilling programs.
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Company → host → programs
Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively.
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Skyharbour → have → properties
The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Future Fuels at the Highway Project; CSE-listed Mustang Energy at the 914W Project; CSE-listed Purecore Metals at the Yurchison Project, and TSX-V listed Terra Clean Energy at the South Falcon East Project.
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Company → have → Project
In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $79 million in partner-funded exploration expenditures and over $52 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their respective projects.
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companies → sign → projects
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.
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goal → maximize → jurisdictions
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
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find → find → www.skyharbourltd.com
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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EXCHANGE → accept → RELEASE
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the intended use of proceeds from the Private Placement.
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which → contain → Placement
All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements.
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Company → address → events
Although the Company 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 may differ materially from those in the forward-looking statements.
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results → believe → statements
…and 3 more, not listed.