Canada markets closed

Skyharbour Resources Ltd. (SYH.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.2700-0.0050 (-1.82%)
At close: 3:53PM EST
Full screen
Loading interactive chart...
  • GlobeNewswire

    Skyharbour’s Partner Company Azincourt Energy 2021 Winter Drill Program Preparations Underway at East Preston Uranium Project

    VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) partner company Azincourt Energy Corp. (“Azincourt”) is pleased to provide an update on preparations for the 2021 winter exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Results from the 2020 HLEM survey have been received and drill target prioritization is now underway, based on the compilation of results from the 2019 and 2020 drill programs and 2018 through 2020 ground-based EM and gravity surveys, and property wide VTEM and magnetic surveys. An exploration program of a minimum of $1M will focus on the central portion of the East Preston property. Permits are in place to allow the commencement of an approximately 2,000-2,500 metre drill program consisting of up to 10 to 12 holes testing targets extending south from the A Zone into the G1, G2 and G3 target areas. Drilling in the A zone suggests this structural corridor hosts significant graphitic packages within strongly sheared and faulted host lithologies, indicating an environment conducive to fluid movement and uranium deposition. “East Preston has an abundance of untested conductive packages and compelling drill targets,” said Azincourt’s Exploration Manager, Trevor Perkins. “We are eager to continue evaluating these conductive packages, focusing on the most responsive areas, and advancing the East Preston Project,” continued Mr. Perkins. “We’re pleased to get the 2021 drill program underway,” said president and CEO of Azincourt, Alex Klenman. “East Preston has had only 12 holes drilled to date, and these early results confirm we have the right basement unconformity uranium setting with the right rocks, structure and alteration. We’re still very early in the exploration phase, and with the recent geophysics program adding significantly to the drill target inventory we’re confident we’re on the path to discovery. We’re looking forward to continuing the development of East Preston,” commented Mr. Klenman. Crews are currently preparing roads into the proposed drilling areas. Drill pad locations are currently being firmed up and will be announced closer to the drill commencement. TerraLogic Exploration and Bryson Drilling have both once again been contracted to execute the on-site drilling, which is being conducted under the guidance and supervision of Azincourt’s Exploration Manager, Trevor Perkins, P.Geo, and Jarrod Brown, M.Sc., P.Geo, Chief Geologist and Project Manager with TerraLogic Exploration. Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewanhttps://skyharbourltd.com/_resources/maps/nr-20210118-figure1.png Figure 2: 2020 HLEM survey Interpretation at the East Preston Uranium Projecthttps://skyharbourltd.com/_resources/maps/nr-20210118-figure3.png Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canadahttps://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf About East Preston: Skyharbour and Dixie Gold Inc. (“Dixie Gold”) entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Dixie Gold, as well as $2,500,000 in exploration expenditures over the three-year period. Skyharbour and Dixie Gold agreed to extend the deadline for the remaining obligations owing to complete the acquisition of a 70% interest in the Project, which include incurring a small portion of the exploration expenditures remaining on the Project and completion of a final cash payment of CAD $400,000 (see News Release dated April 16, 2020). The deadline for these obligations has been extended through until March 31st, 2021 and in consideration for the extension, Azincourt issued common shares to Skyharbour and Dixie Gold. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery. The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity. The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover; therefore, they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend). 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 Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person. About Skyharbour Resources Ltd.: Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. 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 that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston and East Preston Projects, respectively, through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston and Preston East are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour has signed a Definitive Agreement with Australian company Pitchblende Energy, which is being acquired by ASX-listed Valor Resources, on the North Falcon Uranium Project whereby Pitchblende can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance. 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 Athabasca Basin:http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.pdf To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com. SKYHARBOUR RESOURCES LTD. “Jordan Trimble” Jordan TrimblePresident and CEO For further information contact myself or:Spencer CoulterCorporate Development and CommunicationsSkyharbour Resources Ltd. Telephone: 604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. 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. 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, 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.

  • Azincourt Energy 2021 Winter Drill Program Preparations Underway at the East Preston Uranium Project
    GlobeNewswire

    Azincourt Energy 2021 Winter Drill Program Preparations Underway at the East Preston Uranium Project

    Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan Figure 2: 2020 HLEM survey Interpretation at the East Preston Uranium Project Figure 2: 2020 HLEM survey Interpretation at the East Preston Uranium Project Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to provide an update on preparations for the 2021 winter exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Results from the 2020 HLEM survey have been received and drill target prioritization is now underway, based on the compilation of results from the 2019 and 2020 drill programs and 2018 through 2020 ground based EM and gravity surveys, and property wide VTEM and magnetic surveys. An exploration program of approximately $1M to $1.4M will focus on the central portion of the East Preston property. Permits are in place to allow the commencement of an approximately 2000-2500 meter drill program consisting of up to 10 to 12 holes testing targets extending south from the A Zone into the G1, G2 and G3 target areas. Drilling in the A zone suggests this structural corridor hosts significant graphitic packages within strongly sheared and faulted host lithologies, indicating an environment conducive to fluid movement and uranium deposition. “East Preston has an abundance of untested conductive packages and compelling drill targets,” said Exploration Manager, Trevor Perkins. “We are eager to continue evaluating these conductive packages, focusing on the most responsive areas, and advancing the East Preston Project,” continued Mr. Perkins. “We’re pleased to get the 2021 drill program underway,” said president and CEO, Alex Klenman. “East Preston has had only 12 holes drilled to date, and these early results confirm we have the right basement unconformity uranium setting with the right rocks, structure and alteration. We’re still very early in the exploration phase, and with the recent geophysics program adding even more drill targets, we believe strongly we’re on the path to discovery. With the uranium space beginning to turn to the upside, the timing for drilling is excellent,” commented Mr. Klenman. Crews are currently preparing roads into the proposed drilling areas. Drill pad locations are now being firmed up and will be announced closer to the drill commencement date, which is expected to be mid-February. TerraLogic Exploration and Bryson Drilling have both once again been contracted to execute the drill program, which is being conducted under the guidance and supervision of Azincourt’s Exploration Manager, Trevor Perkins, P.Geo, and Jarrod Brown, M.Sc., P.Geo, Chief Geologist and Project Manager with TerraLogic Exploration. Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewanhttps://www.globenewswire.com/NewsRoom/AttachmentNg/ffe79c42-8d76-4e16-9de7-c6b2d9ce7285 Figure 2: 2020 HLEM survey Interpretation at the East Preston Uranium Projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/0355375b-cb82-4c00-838b-63d9ac18ae26 Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canadahttps://www.globenewswire.com/NewsRoom/AttachmentNg/d2757afa-1df9-4106-938d-0949372d01a0 About East Preston Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold Inc (Figure 2: Project Location – Western Athabasca Basin, Saskatchewan, Canada). Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery. The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity. The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend). 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 on behalf of the company by C. Trevor Perkins, P.Geo., Exploration Manager of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101. About Azincourt Energy Corp. Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru. ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP. “Alex Klenman”Alex Klenman, President & CEO Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. For further information please contact: Alex Klenman, President & CEOTel: 604-638-8063info@azincourtenergy.com Azincourt Energy Corp.1430 – 800 West Pender StreetVancouver, BC V6C 2V6www.azincourtenergy.com

  • GlobeNewswire

    Skyharbour Resources Grants Incentive Stock Options

    VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) announces that the Company has granted 1,550,000 incentive stock options (the "Options") to officers, directors and consultants of the Company. The Options are exercisable at $0.28 per share for a period of five years from the date of grant. The Options have been granted under and are governed by the terms of the Company's Incentive Stock Option Plan. About Skyharbour Resources Ltd.: Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. 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 that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston and East Preston Projects, respectively, through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston and Preston East are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour has signed a Definitive Agreement with Australian company Pitchblende Energy, which is being acquired by ASX-listed Valor Resources, on the North Falcon Uranium Project whereby Pitchblende can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance. 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 Athabasca Basin:http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.pdf To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com. SKYHARBOUR RESOURCES LTD. “Jordan Trimble”_____________________ Jordan TrimblePresident and CEO For further information contact myself or:Spencer CoulterCorporate Development and CommunicationsSkyharbour Resources Ltd. Telephone: 604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. 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. 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, 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.