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Skyharbour Resources Ltd. (SYH.V)

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  • Skyharbour Partner Company Azincourt Mobilizes for Geophysical Program at the East Preston Uranium Project
    GlobeNewswire

    Skyharbour Partner Company Azincourt Mobilizes for Geophysical Program at the East Preston Uranium Project

    VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) is undertaking a ground-based geophysical exploration program at the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan, Canada. Preston Uranium Project Map: http://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdfThe program will be comprised of a horizontal loop electromagnetic survey (“HLEM”) to refine and help prioritize areas where untested conductive corridors have been identified in existing property-wide airborne VTEM survey results. A total of 33 line-km of HLEM surveying will be completed, commencing in late November and early December. The survey was originally scheduled for the summer but has been delayed due to Covid-19 restrictions and disruptions.A diamond drilling program is anticipated for follow-up to continue to test prospective conductor trends on the property. Target selection will be finalized after Azincourt interprets the results of the HLEM survey and reviews the existing target inventory.“The collection of this data and refinement of conductor locations within the identified corridors will ensure that our highest priority targets are being targeted and tested effectively,” said Azincourt Exploration Manager, Trevor Perkins.Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan: https://www.skyharbourltd.com/_resources/maps/Target-Corridors-East-Preston.pngProposed areas for upcoming HLEM survey at the East Preston Uranium Project: https://www.skyharbourltd.com/_resources/maps/HLEM-Survey-East-Preston.pngPatterson Geophysics of La Ronge, Saskatchewan, has been contracted for the program. They are familiar with East Preston, having done previous geophysical work on the project over the last few years.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 5,000,000 common shares to Skyharbour and Dixie Gold.Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. 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.Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor. Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.The Main Grid shows 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 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 with drill results returning 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 Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property 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%. Recently, Skyharbour signed a LOI 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 and $425,000 in total cash payments over three years as well as shares in the company.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 jurisdictionsSkyharbour’s Uranium Project Map in the Athabasca Basin: http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.pdfTo 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 Trimble President and CEOFor further information contact myself or: Spencer Coulter Corporate Communications Skyharbour Resources Ltd. Telephone: 604-687-3800 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.comNEITHER 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 Mobilizes for Geophysical Program at the East Preston Uranium Project
    GlobeNewswire

    Azincourt Energy Mobilizes for Geophysical Program 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 Proposed areas for upcoming HLEM survey at the East Preston Uranium Project Figure 2 Proposed areas for upcoming HLEM survey at the East Preston Uranium Project Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, CanadaVANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) -- AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTC: AZURF), is pleased to announce it is undertaking a ground-based geophysical exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Crew and equipment are on site and will commence operations immediately. The program will be comprised of a horizontal loop electromagnetic survey (“HLEM”) to refine and help prioritize areas where untested conductive corridors have been identified in existing property-wide airborne VTEM survey results.  A total of 33 line-km of HLEM surveying will be completed, commencing in late November. The survey was originally scheduled for the summer but has been delayed due to Covid-19 restrictions and disruptions.A diamond drilling program is anticipated for follow up to continue to test prospective conductor trends on the property.  Target selection will be finalized after the Company interprets the results of the HLEM survey and reviews the existing target inventory.Unconformity related uranium deposits associated with the Athabasca Basin are closely associated with basement conductive packages. VTEM surveys have identified conductive corridors within the East Preston land package. The HLEM survey will narrow down where within these corridors drilling should focus.“The collection of this data and refinement of conductor locations within the identified corridors will ensure that our highest priority areas are being targeted and tested effectively,” said Exploration Manager, Trevor Perkins.Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1b0c88d-a5ae-4446-be27-9077adb1e97eFigure 2: Proposed areas for upcoming HLEM survey at the East Preston Uranium Project is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d7356dfe-b077-4e0e-b5fd-b56ddf980182Patterson Geophysics of La Ronge, Saskatchewan, has been contracted for the program. They are familiar with East Preston, having conducted previous geophysical programs on the project over the last few years.Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/63c5c607-56ab-4849-b34c-f28d8709c788About East PrestonAzincourt 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 (TSX.V: DG) (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).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 & CEONeither 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 & CEO Tel: 604-638-8063 info@azincourtenergy.comAzincourt Energy Corp. 1430 – 800 West Pender Street Vancouver, BC V6C 2V6 www.azincourtenergy.com

  • ABN Newswire

    Ellis Martin Report: Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) Signs LOA with Pitchblend Energy to Option 80% of North Falcon Uranium Property

    Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) Signs Letter of Intent with Pitchblende Energy to Option 80% of the North Falcon Point Uranium Property.