Skyharbour Partner Company Terra Clean Energy Completes First Three Drill Holes on Fraser Lakes Uranium Deposit at the South Falcon East Uranium Project
Skyharbour Resources (SYHBF) announces partner Terra Clean Energy has completed its first three drill holes at the South Falcon East Uranium Project, hosting the Fraser Lakes B Uranium Deposit. The ongoing program, expected to complete over 2,000 metres of drilling in March, is located 18 km outside the Athabasca Basin.
Key drilling results include Hole SF063, which intersected multiple structures and a 51-metre wide interval of mineralized granitic pegmatites, showing highlights of 0.03% eU3O8 over 12.0m (173.55m-185.55m) and 0.03% eU3O8 over 3.0m (213.65m-216.65m). The hole also revealed intense clay alteration typically associated with uranium deposits.
Under the Option Agreement, Terra can earn a 75% interest by funding CAD $10.5M in exploration and paying Skyharbour CAD $11.1M in cash, of which $6.5M can be settled in Terra shares.
Skyharbour Resources (SYHBF) annuncia che il partner Terra Clean Energy ha completato i suoi primi tre fori di perforazione presso il South Falcon East Uranium Project, che ospita il Fraser Lakes B Uranium Deposit. Il programma in corso, previsto per completare oltre 2.000 metri di perforazione a marzo, si trova a 18 km al di fuori del Bacino di Athabasca.
I principali risultati della perforazione includono Hole SF063, che ha intersecato più strutture e un intervallo di 51 metri di pegmatiti granitiche mineralizzate, mostrando picchi di 0,03% eU3O8 su 12,0 m (173,55 m-185,55 m) e 0,03% eU3O8 su 3,0 m (213,65 m-216,65 m). Il foro ha anche rivelato un'intensa alterazione dell'argilla tipicamente associata ai depositi di uranio.
In base all'Accordo di Opzione, Terra può guadagnare un interesse del 75% finanziando 10,5 milioni di CAD in esplorazione e pagando a Skyharbour 11,1 milioni di CAD in contanti, di cui 6,5 milioni possono essere saldati in azioni Terra.
Skyharbour Resources (SYHBF) anuncia que su socio Terra Clean Energy ha completado sus tres primeros agujeros de perforación en el South Falcon East Uranium Project, que alberga el Fraser Lakes B Uranium Deposit. El programa en curso, que se espera complete más de 2.000 metros de perforación en marzo, se encuentra a 18 km fuera de la Cuenca de Athabasca.
Los resultados clave de perforación incluyen Hole SF063, que intersectó múltiples estructuras y un intervalo de 51 metros de pegmatitas graníticas mineralizadas, mostrando picos de 0,03% eU3O8 sobre 12,0 m (173,55 m-185,55 m) y 0,03% eU3O8 sobre 3,0 m (213,65 m-216,65 m). El agujero también reveló una intensa alteración de arcilla típicamente asociada con depósitos de uranio.
Bajo el Acuerdo de Opción, Terra puede ganar un interés del 75% financiando 10,5 millones de CAD en exploración y pagando a Skyharbour 11,1 millones de CAD en efectivo, de los cuales 6,5 millones pueden ser saldados en acciones de Terra.
Skyharbour Resources (SYHBF)는 파트너인 Terra Clean Energy가 South Falcon East Uranium Project에서 첫 세 개의 시추 구멍을 완료했다고 발표했습니다. 이 프로젝트는 Fraser Lakes B 우라늄 매장지를 포함하고 있으며, 진행 중인 프로그램은 3월에 2,000미터 이상의 시추를 완료할 것으로 예상되며, Athabasca 분지에서 18km 떨어진 곳에 위치하고 있습니다.
주요 시추 결과로는 Hole SF063이 있으며, 여러 구조를 관통하고 51미터 너비의 광물화된 화강암 페그마타이트 구간을 보여주며, 12.0m(173.55m-185.55m)에서 0.03% eU3O8와 3.0m(213.65m-216.65m)에서 0.03% eU3O8의 하이라이트를 기록했습니다. 또한 이 구멍은 우라늄 매장지와 일반적으로 관련된 강한 점토 변화를 보여주었습니다.
옵션 계약에 따라, Terra는 1,050만 CAD의 탐사 자금을 지원하고 Skyharbour에 1,110만 CAD의 현금을 지급함으로써 75%의 지분을 획득할 수 있으며, 이 중 650만 CAD는 Terra 주식으로 정산할 수 있습니다.
Skyharbour Resources (SYHBF) annonce que son partenaire Terra Clean Energy a terminé ses trois premiers trous de forage au South Falcon East Uranium Project, qui abrite le Fraser Lakes B Uranium Deposit. Le programme en cours, qui devrait dépasser 2 000 mètres de forage en mars, est situé à 18 km à l'extérieur du bassin d'Athabasca.
Les résultats clés du forage incluent Hole SF063, qui a intersecté plusieurs structures et un intervalle de 51 mètres de pegmatites granitiques minéralisées, montrant des pics de 0,03 % eU3O8 sur 12,0 m (173,55 m-185,55 m) et 0,03 % eU3O8 sur 3,0 m (213,65 m-216,65 m). Le trou a également révélé une intense altération de l'argile, généralement associée aux dépôts d'uranium.
Selon l'accord d'option, Terra peut acquérir un intérêt de 75 % en finançant 10,5 millions de CAD en exploration et en payant à Skyharbour 11,1 millions de CAD en espèces, dont 6,5 millions peuvent être réglés en actions Terra.
Skyharbour Resources (SYHBF) gibt bekannt, dass der Partner Terra Clean Energy seine ersten drei Bohrlöcher im South Falcon East Uranium Project abgeschlossen hat, das das Fraser Lakes B Uranium Deposit beherbergt. Das laufende Programm, das voraussichtlich im März über 2.000 Meter Bohrungen abschließen wird, befindet sich 18 km außerhalb des Athabasca-Beckens.
Die wichtigsten Bohrergebnisse umfassen Hole SF063, das mehrere Strukturen durchdrang und einen 51 Meter breiten Abschnitt von mineralisierten granitischen Pegmatiten aufwies, mit Höhepunkten von 0,03% eU3O8 über 12,0 m (173,55 m-185,55 m) und 0,03% eU3O8 über 3,0 m (213,65 m-216,65 m). Das Loch zeigte auch eine intensive Tonveränderung, die typischerweise mit Uranlagerstätten assoziiert ist.
Gemäß dem Optionsvertrag kann Terra einen 75%igen Anteil erwerben, indem es 10,5 Millionen CAD in Exploration investiert und Skyharbour 11,1 Millionen CAD in bar zahlt, von denen 6,5 Millionen in Terra-Aktien beglichen werden können.
- Discovery of significant mineralization in all three completed drill holes
- New clay alteration zone discovered, indicating potential for higher-grade uranium deposits
- Expansion of mineralization to the North of existing deposit
- Strong partnership agreement securing CAD $21.6M in total funding and payments
- Relatively low uranium grades in current findings (0.03-0.07% eU3O8)
- Variable mineralization grades within pegmatite swarm showing inconsistent results
Vancouver, BC, March 10, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Terra Clean Energy Corp. (“Terra”, previously Tisdale Clean Energy) has completed its first three drill holes at the South Falcon East Uranium Project (the “Property”) which hosts the Fraser Lakes B Uranium Deposit. The program will continue throughout March and is expected to consist of over 2,000 metres of drilling. The South Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km East of the Key Lake uranium mill and former mine. Skyharbour optioned the Project to Terra and under the Option Agreement assuming the
Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1
Terra is currently conducting a 2,000m - 2,200m helicopter supported drill program at the Property. Three diamond drill holes have been completed on the Fraser Lakes B Uranium Deposit, for a total of 802m, and a fourth hole is in progress.
“We are extremely encouraged by the results of the first three drill holes as we continue to see mineralization in each of the holes as well as what we believe to be an expansion of the deposit to the North. As stated below, Hole SF063 returned a continuous mineralized zone of pegmatites from 173 metres to 224 metres with some decent grades.” Based on the initial results from Hole SF063 we have decided to reorganize the remaining metres of this program to focus on further defining this new area of interest and chasing clay alteration not yet seen on the property to date, with hopes of finding a new high-grade unconformity uranium deposit,” said Greg Cameron CEO of the Terra Clean Energy.
Hole SF063 was planned to examine an interpreted cross fault offsetting the mineralization and geology on the east end of the Fraser Lakes B Uranium Deposit. This hole was drilled to a depth of 393 metres and intersected multiple structures and a 51-metre wide interval of mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. Highlights include
The first structure intersected from 18m to 47.5m contained zones of intense clay alteration typically found in relation to unconformity uranium deposits. The presence of this alteration is a good indication that hydrothermal fluids suitable for deposition of higher-grade uranium mineralization moved through the rocks. The second structure from 306m to 315m is a brecciated pelitic gneiss situated between two intervals of Archean gneiss. This structure is interpreted to be responsible for the geological offset being targeted. This will assist in updating the target model in this area. The intersections of a clay altered structure and a thick sequence of mineralized pegmatites and pelitic gneiss have expanded the mineralization and improved the prospectivity on the east end of the Fraser Lakes B Uranium Deposit.
2025 Drill Target Areas at the South Falcon East Uranium Project:
https://www.skyharbourltd.com/_resources/images/2025-Drill-Target-areas-at-the-south-Falcon-East-Uranium-Project.png
“The results from the drilling so far are very encouraging,” commented Trevor Perkins, Vice President of Exploration for Terra Clean Energy. “The first two holes have shown that the deposit is still open down dip to the north and northwest. Hole SF0063 has shown that there is significant potential for upgrading the deposit on the east end. We are excited to see where this can lead”, continued Mr. Perkins.
Drilling is continuing with one hole in progress at the T-Bone Lake target area to examine the conductive package and alteration intersected in the area in historical drilling. Pad preparation is underway to return to the target around hole SF0063 and follow up on the clay alteration and pegmatites. Efforts will be made to follow the alteration and pegmatites to where they intersect, as this should be an area of fluid pooling and upgrading of mineralization within the deposit.
The first hole in the program, hole SF061 was planned to test for a down dip extension of mineralization intersected in hole FP-15-05 and was drilled to a depth of 209m. Drilling intersected a 35m interval containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. The most notable zone returned an equivalent grade of
Hole SF062 was planned to test for an along strike extension of mineralization intersected in holes FP-15-05 and SF0061 and was drilled to a depth of 200m. Drilling intersected a 21m interval containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. The most notable zone returned an equivalent grade of
While both of these holes extended the mineralization down dip and along strike to the north and northwest, they did not intersect the higher grades encountered in hole FP-15-05. This is due to the potential variability within the pegmatite swarm. As long as the mineralized pegmatites are present, higher grades will be encountered within the overall mineralized zone.
South Falcon East Project Summary:
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and covers approximately 12,464 hectares. It lies 18 kilometres outside the Athabasca Basin, approximately 50 kilometres east of the Key Lake Mine. Historical exploration at the South Falcon East Project identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle cross-structure adjacent to a 65 km long EM conductor.
QA/QC, Radiometric Equivalent Grades and Spectrometer Readings:
All drill intervals above are downhole length and sampling procedures and QA/QC protocols for geochemical results as well as a description of downhole gamma probe grade calculations and protocols are below. All drill core samples are shipped to the Saskatchewan Research Council Geoanalytical Laboratories (“SRC”) in Saskatoon, Saskatchewan under the care of Terra personnel for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on visual inspection, downhole probing radiometric equivalent uranium grades and scintillometer (Radiation Solutions RS-125) peaks. Assay sample intervals comprise 0.5 to 1.0 metre continuous half-core split samples over the mineralized interval. These samples may also be selected for density determination using the lost wax method. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Terra and the SRC in accordance with Terra’s quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Terra prior to disclosure.
During active exploration programs drillholes are radiometrically logged using calibrated downhole Mount Sopris 4OTGU or 2GHF probes of varying sensitivities which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades (“eU3O8”) are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the Saskatchewan Research Council facility in Saskatoon and from the comparison of probe results against geochemical analyses. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Terra prior to disclosure.
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 Dave Billard, P.Geo., Consulting Geologist for Skyharbour as well as a Qualified Person.
About Terra Clean Energy Corp.:
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently advancing the South Falcon East uranium project, which hosts a uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
About Skyharbour Resources Ltd.:
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 thirty-six projects covering over 614,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a
Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin 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; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over
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:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-11-21_v1.jpg
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 Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: 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.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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.
FAQ
What are the key drilling results from SYHBF's South Falcon East Project in March 2025?
How much is Terra Clean Energy investing to earn 75% interest in SYHBF's South Falcon East Project?
Where is SYHBF's South Falcon East Uranium Project located?
What is the total planned drilling distance for SYHBF's March 2025 program?
