Skyharbour Resources Ltd.

Hallo Aktiengeier,

prima, dass du hier einen Thread eröffnet hast für diesen Wert,
der, wenn ich mich recht erinnere, auch eine (mehrfache) massive Empfehlung im
Goldherz Report gewesen ist.
Ich werde mal nachschauen. Bin aber hier auch seit einiger Zeit investiert.

Beste Grüße vom Spieler

Skyharbour Intersects High Grade Uranium Mineralization at Maverick East Zone with Drill Results of 2.54% U₃O₈ over 6.0m including 6.80% U₃O₈ over 2.0m; Additional Assays Pending and Drilling to Continue

Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the initial set of diamond drill results from its 2021 summer diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project, located approximately 15 kilometres east of Denison Mine’s Wheeler River project and proximal to regional infrastructure for Cameco’s Key Lake and McArthur River operations in the Athabasca Basin, Saskatchewan. Drillhole ML21-03 intersected additional high grade, basement hosted uranium mineralization at the Maverick East Zone. This hole returned 2.54% U₃O₈ over 6.0 metres including 6.80% U₃O₈ over 2.0 metres. Furthermore, drilling on the regional Grid 19 target identified several prospective geological features that are indicative of uranium mineralizing systems.

Moore Uranium Project Claims Map:

[Blockierte Grafik: https://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg]

Highlights:

• Hole ML21-03 was drilled within the eastern half of the Maverick East Zone. This hole intersected predominantly basement-hosted uranium mineralization and returned 2.54% U₃O₈ over 6.0 metres from 276.0 to 282.0 metres, including 6.8.0% U₃O₈ over 2.0 metres from 278.5 to 280.5 metres. The uranium mineralization is accompanied by intense clay alteration of pelitic assemblages below the unconformity as well as up to 0.83% Cu and 0.73% Ni in half metre sample intervals.
• The mineralized intercept in hole ML21-02 occurs in a broad zone that returned 0.19% U₃O₈ over an 11.7 metre interval from 271.8 to 283.5 metres downhole. This mineralization straddles the unconformity, with most of the interval within basement rocks comprised of sheared, clay-altered to -replaced felsic intrusives. The intercept confirms continuity within the central portion of the Maverick East Zone.
• Substantial portions of the 4.7 kilometre long Maverick corridor remain to be systematically drill tested leaving robust discovery potential along strike as well as at depth in the basement rocks.
• Drill holes ML21-07, -08 and -09 were the first holes drilled within the regional Grid 19 target area, where two prospective EM conductors were identified by this winter’s SML-EM geophysical program. All three holes intersected highly prospective altered, graphitic and sulphide bearing basement lithologies. The pending geochemical results will further define the prospectivity of this area for winter follow-up when frozen conditions will facilitate additional drilling.
• Final assay results are pending for seven more drill holes.
• Additional drilling of 1,500 to 2,000 metres in four to five holes has commenced at Moore.

Jordan Trimble, President and CEO of Skyharbour Resources, stated: “We are thrilled with the first batch of drill results announced herein highlighted by drill hole ML21-03 which returned the best intercept to date in the basement rocks at the Maverick East Zone. Our geological team is continuing to explore for higher grade uranium mineralization along strike and down plunge at this zone with an expanded drill program. We are successfully increasing the size of the high grade zones at the Maverick corridor and these results illustrate the notable discovery upside potential at the Project especially in the basement rock feeder-zones which have had limited drill-testing historically. Furthermore, there is good progress being made at regional targets at Moore and we intend to follow up on other high-priority targets throughout the Project. The remaining assay results from the drill program are pending which will provide additional news flow in the months to come amidst a significant resurgence in the uranium market.”

Summary of 2021 Drilling Program to Date:

Drilling to date in 2021 on the Moore Project has totalled 4,578 metres in thirteen holes. Seven holes (ML21-01 to -05 and ML21-12 and -13) were drilled on the Maverick East Zone, three on the Esker Target (ML21-06, -10, -11) and three on the Grid 19 Target conductors (ML21-07 to -09). Complete results for holes ML21-01 to -05 have been received and reported herein, while samples for the latter seven holes have been delivered to the SRC Geoanalytical Laboratories in Saskatoon. After a short break in the drill program, field crews have remobilized to Moore and an anticipated 1,500 to 2,000 metres in four to five holes are yet to be drilled. This expanded drill program will test targets identified by prior modelling down plunge of the Maverick East zone, an untested gap between the Main Maverick and the Maverick East Zones as well as targets at the west end of the Main Maverick Zone where the geochemistry (pathfinders) and geology are strongly indicative of a potentially uraniferous mineralizing system.

Moore Uranium Project Regional Grid Targets Map:
[Blockierte Grafik: https://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg]

Maverick East Zone Drilling:

Drill hole ML21-01 was drilled just west of hole ML20-12 which had intersected 0.28% U₃O₈ over 17.9 metres in the winter of 2020. Hole ML21-01 intersected a broad interval of uranium mineralization returning 0.07% U₃O₈,
beginning at 268.8 metres and extending 18.2 metres to encompass both
sandstone and basement lithologies. This hole migrated well into the
footwall and intersected structurally disrupted and clay altered to
replaced sandstone and granite, along with uranium mineralization. The
hole did return a typical footwall geochemical signature, with intense
boron enrichment (up to 8,060 ppm) in the sandstone as well as elevated
uranium, nickel and other pathfinders in the sandstone and basement.

Moore Uranium Project - Maverick East Zone Drilling Map:
[Blockierte Grafik: https://mcusercontent.com/70d4eaaa67513d6f7342b6ba8/images/f96c7d76-46ae-b43d-e164-b9b7257eab4e.jpeg]

Hole ML20-02 was drilled to test for continuity of the uranium mineralization within the central portion of the Maverick East Zone. The mineralized intercept in ML21-02 occurs in a broad zone that returned 0.19% U₃O₈ over an 11.7 metre interval from 271.8 to 283.5 metres downhole. This mineralization straddles the unconformity with approximately two thirds of the interval within basement rocks comprised of sheared, clay-altered to -replaced felsic intrusives. This hole once again intersected the main Maverick Fault towards the footwall side and the geochemistry is indicative of that with highly anomalous boron within the basement and the sandstone. The intercept confirms continuity within the central portion of the Maverick East Zone.

Drill hole ML21-03 was drilled to test for continuity of the mineralization within the eastern half of the Maverick East Zone, ten metres northeast of hole ML20-09 which returned 0.72% U₃O₈ over 17.5m. Hole ML21-03 intersected one of the highest grade intercepts to date on the Maverick East Zone including the highest grades discovered to date in the basement rocks at the zone. The hole returned 2.54% U₃O₈ over 6.0 metres from 276.0 to 282.0 metres including 6.80% U₃O₈ over 2.0 metres from 278.5 to 280.5 metres. This mineralization is predominantly basement-hosted and accompanied by intense clay alteration of pelitic assemblages below the unconformity as well as up to 0.83% Cu and 0.73% Ni in half metre sample intervals. This high grade zone of mineralization is open down plunge.

Drill holes ML21-04 and ML21-05 were collared to test for continuity between holes ML20-04 and -13. Hole ML21-04 was lost just above the target and the unconformity in the Maverick Fault at 238 metres. ML21-05 successfully tested the unconformity, but did not intersect significant uranium mineralization. The basement lithologies in this hole are typically intrusive in character within clay-altered to -replaced granites throughout. The sandstone is enriched in pathfinder elements, primarily boron, as is typical of footwall holes along the Maverick Fault.

Holes ML21-12 and -13 were drilled as follow up holes within the eastern end of the Maverick East Zone. Both holes were completed to depth and intersected the expected prospective faulting and geology that has been identified in the Maverick East to date. Final geochemical assay results are pending and will be reported on once received and correlated with the noted geological features.

Grid 19 Zone Drilling:

Three holes ML21-07 to -09 were drilled on the newly emplaced Grid 19 Target area located approx. ten kilometres NE of Main Maverick Zone, where two sub-parallel north trending conductors were identified by the winter SML-EM program. Holes ML21-07 and -09 were drilled along strike, 400 metres apart on the westernmost of these conductors. These holes intersected significant graphitic conductors and sulphides, basement faults, and in the case of hole ML21-07, anomalous radioactivity. Hole ML21-08 also intersected prospective basement geology. The unconformity in the Grid 19 Target area occurs at a shallow depth of approximately 190 metres. The final geochemical assay results are pending for these holes and will be reported once received and fully evaluated.

Moore Uranium Project - Grid 19 Zone and Esker Zone Drilling:
[Blockierte Grafik: https://mcusercontent.com/70d4eaaa67513d6f7342b6ba8/images/93ce7209-3d5e-f923-f4db-4aefc9ede320.jpeg]

Esker Zone Drilling:

Three holes ML21-06, -10 and -11 were drilled as a follow up to historic drilling in the Esker Target area located approx. five kilometres NE of the Main Maverick Zone where anomalous uranium geochemistry was intersected in historical holes MT-04 and MT-10 drilled in the 1980’s. Hole ML21-06 was lost prior to intersecting the target and the unconformity. Hole ML21-10 and -11 intersected significant graphitic conductors associated with faulting and pelitic rocks. The final geochemical assay results will be reported once received and fully evaluated.

Uranium Market Commentary and Update:

The uranium market has recently shown notable signs of recovery with increasing uranium prices and improving sentiment, and this recovery appears to be accelerating amid recent news and several sector-specific developments. Analysts that cover the sector have stated that this could be a sustained upswing as they are currently seeing some of the best fundamentals since pre-Fukushima which should be supportive of higher uranium prices as a major supply-side response is playing out while the sticky demand-side continues to improve. Primary mine supply has been declining and amounted to approx. 125 million lbs U₃O₈ in 2020 while demand continues to rise and amounted to over 180 million lbs in 2020. The spot uranium price has risen to approx. $40 / lb U₃O₈ but it is still below the price needed to incentivize new development to ensure sustainable and secure supply to meet growing global demand. More recently, financial entities like the Sprott Physical Uranium Trust have been purchasing millions of pounds of uranium providing upward pressure on the price.

There are 443 operable nuclear reactors and 51 new reactors under construction globally with hundreds more planned in the pipeline. China and India continue to be at the forefront of demand growth and have the largest reactor pipelines making up a significant portion of the global growth. More recently, an important emerging market for nuclear and uranium demand in small modular reactors has gained notable positive press and momentum. As the global push for decreasing carbon emissions continues, nuclear energy will play a vital role in providing base-load, carbon emissions-free, low-cost electricity generation.

On the supply-side, mine closures and production curtailment continue to dominate headlines which was exacerbated by the pandemic clearly illustrating the risks to global primary mine supply. Major production cuts and depleting mine reserves appear to be working their way into the uranium market and driving prices higher. The two largest producers, Cameco and Kazatomprom, have announced large supply cuts over the last several years and have been actively buying uranium directly in the spot market to fulfill their contract deliveries as their production profiles have decreased.

Moore Uranium Project Overview:

In June 2016, Skyharbour secured an option to acquire Denison Mine's Moore Uranium Project, on the southeastern side of the Athabasca Basin, in northern Saskatchewan and has fulfilled its earn in. The project consists of 12 contiguous claims totalling 35,705 hectares located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River uranium mine. Unconformity style uranium mineralization was discovered on the Moore Project at the Maverick Zone in April 2001. Historical drill highlights include 4.03% eU₃O₈ over 10 metres including 20% eU₃O₈over 1.4 metres, and in 2017, Skyharbour announced drill results including 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test with future drill programs. The project is fully accessible via winter and ice roads which simplifies logistics and lowers costs. Large proportions of the property are accessible in the summer as well.

Moore Lake Uranium Project Geophysics Map:
[Blockierte Grafik: https://skyharbourltd.com/_resources/maps/MooreLake-Basic-geo-revamp.jpg]

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 exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. 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. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also 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 ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor 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:
[Blockierte Grafik: https://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg]

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

Skyharbour Partner Company Valor Provides Update on Field Programs and Upcoming Drill Program at the Hook Lake Project

October 6, 2021

Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has provided an update on results from the recently completed on-ground field program at the Hook Lake Project. Following the on-ground field program that concluded in August and the subsequent reporting of high-grade uranium assay results, planning of a follow-up drill program is underway.
Hook Lake (Formally North Falcon Point) Project:
https://skyharbourltd.com/_res…/Falcon-Point-Project.jpg
Highlights:

• Planning of diamond drilling program at Hook Lake Project well advanced
• All necessary permits in place for diamond drilling program to commence
• Drilling to test at depth and along strike from historical trench at Hook Lake / Zone S Prospect where recent surface sampling returned assays of up to 59.2% U3O8, 5.05% TREO, 507g/t Ag and 14.5% Pb
• Diamond drilling to also test targets at West Way Prospect
• Drilling set to commence in December 2021 with a program of at least 2,500m proposed
• Project Geologist seconded from Dahrouge Geological Consulting

Upcoming Drill Program and Geological Summary:
The diamond drilling program will be primarily focused on the area around the historical trench at the Zone S prospect where recent sampling by Valor returned assays of (see news release dated August 31^st, 2021):

• 59.2% U3O8, 499g/t Ag, 5.05% TREO, 14.4% Pb (Float sample)
• 57.4% U3O8, 507g/t Ag, 3.68% TREO, 14.5% Pb (Rock Chip sample)
• 46.1% U3O8, 435g/t Ag, 2.88% TREO, 8.8% Pb (Rock Chip sample)
• 6.92% U3O8, 0.81% TREO, 2% Pb (Rock Chip sample)
• 6.42% U3O8, 1.17% TREO, 1.8% Pb (Rock Chip sample)

*TREO = Total Rare Earth Oxides = La₂O₃, CeO₂, Pr₆O₁₁, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃, Ho₂O₃, Er₂O₃, Yb₂O₃, Y₂O₃
All necessary permits for the drilling program have been granted by the Saskatchewan Ministry of Environment and all relevant stakeholders including First Nations communities are being contacted regarding the upcoming program. The drilling will be helicopter supported thereby reducing the environmental impact on the area.
Valor’s Executive Chairman Mr. George Bauk stated: “Following on from the results published in August 2021 and desktop reviews being undertaken, we are pleased to be finalising the upcoming drill program scheduled for December. We will be targeting three key areas to begin with and look forward to the results as they come to hand. Over the past month with the increase in the spot uranium price we have seen an unprecedented land grab in the Athabasca Basin. Most of the Basin has been pegged which highlights the excitement and prospectively of this area. We have seven projects in and around the Basin that demand exploration attention.”
Final drill hole locations are currently being determined with historical drilling data being digitised and compiled and integrated into a 3D geological model over the Zone S target area. The Hook Lake high-grade uranium (and rare earth) mineralisation is interpreted to be located at a dilational trap/jog which has formed at the intersection of a northeast-southwest trending shear zone and a possible north-south trending structure (potentially a re-activated Tabbernor fault structure). Besides the downdip and down-plunge potential of the immediate Hook Lake target, there is potential for further structural targets of this nature along strike to the northeast and southwest from the Hook Lake prospect.
Drilling is planned to commence in December with an expected program of 10-15 drill holes for a total of around 2,500m – 4,500m. Drilling will also test targets at the West Way prospect where recent surface sampling by Valor returned assays of up to 0.64% U3O8 and 3.4% Mo (previously reported in the August 31^st, 2021 news release).
The on-ground technical team in Canada has been boosted by the secondment of a full-time geologist from Dahrouge Geological Consulting from October for a period of at least 3 months. In addition, an Australian based geoscience consulting group, Terra Resources, has been contracted to provide geophysical services to Valor with particular emphasis on the Athabasca projects. Terra will also be carrying out historical data compilation for all the Company’s projects in the Athabasca, starting with the Hook Lake Project, capturing this data in a digital format, then integrating with other geoscientific data sets to develop 3D geological models and targets.
Other ongoing work for the Hook Lake Project is the mineralogical characterisation study of the high-grade uranium and REE samples from the Zone S prospect. Work is to be carried out by the Saskatchewan Research Council (SRC) Geoanalytical Laboratories which will include QEMSCAN Mineralogical analysis.
The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake Uranium Project whereby Valor 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 of 233,333,333 shares of Valor.
About Hook Lake (previously North Falcon Point) Project:
Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralization including:

• Hook Lake / Zone S - High-grade surface outcrop with reported grades in grab samples up to 68% U₃O₈; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast
• Nob Hill - Fracture-controlled vein-type uranium mineralization on surface outcrop with up to 0.130% - 0.141% U₃O₈ in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m
• West Way - Vein type U mineralization within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U₃O₈ and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb
• Grid T - Fracture-hosted secondary uranium mineralization in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U
• Alexander Lake Boulder Field - 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively
• Thompson Lake Boulder Field - Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder
• NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_reso…aps/SYH-Athabasca-Map.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

Skyharbour Signs Option Agreement with Black Shield Metals Corp to Option 75% of the Mann Lake Uranium Project

October 18, 2021

Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) with Black Shield Metals Corp. (CSE: BDX) (“Black Shield”) which provides Black Shield an earn-in option to acquire up to a 75% interest (the “Option”) in the Mann Lake Uranium Project (“Mann Lake” or the “Property”) located in the Athabasca Basin, Northern Saskatchewan, Canada.
Mann Lake Project Location Map:
https://skyharbourltd.com/_res…/SYH_Mann_Lake_Tenure.jpg
Under the Option Agreement, Black Shield will contribute cash and exploration expenditure consideration totaling CAD $4,850,000 over a three-year period (“Project Consideration”). Of the Project Consideration, $850,000 will be in cash payments to Skyharbour and $4,000,000 will be in exploration expenditures on the project. Black Shield will also issue to Skyharbour the equivalent value of CAD $1,750,000 in shares of the company over the three-year earn-in period to complete the earn-in.
Skyharbour’s President and CEO, Jordan Trimble commented: “We are excited to have this Option Agreement signed as we continue to execute on our business model by adding value to our project base in the Athabasca Basin through strategic partnerships and prospect generation, as well as focused mineral exploration at our flagship Moore Uranium Project. We are looking forward to working with Black Shield and its management team as they advance the Mann Lake Project over the coming years. News will be forthcoming on exploration plans as we continue to see upward momentum in the uranium market.”
Mann Lake Uranium Project Summary:
Skyharbour owns a 100% interest in the 3,473 hectare (8,582 acre) Mann Lake Uranium Project located in the eastern Athabasca Basin in northern Saskatchewan. It is strategically located 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast of Cameco's Millennium uranium deposit. The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (17.5%).Denison Mines acquired International Enexco and its 30% interest in the project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization at this adjacent project.
Skyharbour carried out a ground-based EM survey in 2014 focused on an area where a 2 km long aeromagnetic low coincided with basement conductors interpreted from earlier EM surveys. This program successfully confirmed the presence of a broad, NE-SW trending corridor of conductive basement rocks which are likely graphitic metapelites.
Mann Lake Project Geological Compilation Map:
https://skyharbourltd.com/_res…Mann_Lake_Compilation.jpg
The Mann Lake Uranium Project has seen over $3 million of previous exploration expenditures consisting of geophysical surveys and two diamond drill programs totaling 5,400 metres carried out by Triex in 2006 and 2008. The geophysical surveys identified graphitic basement conductors and structural corridors containing reactivated basement faults. These features trend onto the adjacent ground operated by Cameco. The 2006 diamond drill program intersected a 4.5 metre wide zone containing anomalous boron (with highlight values of up to 1,758 ppm B) in the sandstone immediately above the unconformity in drillhole MN06-005. Boron enrichment is common at the McArthur River uranium mine, and along with illite and chlorite alteration, is a key pathfinder element for uranium deposits in the Athabasca Basin. In the same drill hole, altered basement gneissic rocks with abundant clay, chlorite, hematite and calc-silicate minerals were intersected about 7.6 metres below the unconformity and contained anomalous uranium, including up to 73.6 ppm over a 1.5 metre interval. Background uranium values are commonly between 1 and 5 ppm.
Terms of the Option Agreement:
Under the terms of the Option Agreement, the Black Shield Metals Corp. is committed to the following:

1. paying to Skyharbour a total of CAD $850,000 cash and issuing Skyharbour the total number of common shares (“Shares”) of Black Shield equivalent to a value of CAD $1,750,000 based on the 20 day VWAP at the time of issuance, as follows:
   
   1. within five days of the signing of the Option Agreement, pay $100,000 and issue Shares equivalent to $250,000 at the 20 day VWAP at the time of issuance;
   2. on the first anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;
   3. on the second anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;
   4. on the third anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;

   
   

2. incur a minimum of $4,000,000 in exploration expenditures on the Property as follows:
   
   1. $1,000,000 in exploration expenditures on or before the first anniversary of the signing of the Option Agreement;
   2. an additional $1,000,000 in exploration expenditures on or before the second anniversary of the signing of the Option Agreement; and
   3. an additional $2,000,000 in exploration expenditures on or before the third anniversary of the signing of the Option Agreement.

   
   

In the event that Black Shield spends, in any of the above periods, less than the specified sum, it may pay to the Optionor the difference between the amount it actually spent and the specified sum before the expiry of that period in full satisfaction of the exploration expenditures to be incurred. In the event that Black Shield spends, in any period, more than the specified sum, the excess shall be carried forward and applied to the exploration expenditures to be incurred in succeeding periods.
Immediately on Black Shield satisfying all of the conditions, Black Shield will be deemed to have exercised the Option and to have earned a 75% interest in and to the Property which will vest to Black Shield subject to the net smelter returns royalty (“NSR Royalty”). A NSR Royalty of two and a half percent (2.5%) is payable to a third party of net smelter returns from minerals mined and removed from the Property (payable pro-rata based on ownership interest in the Property).
The issuance of the Black Shield shares is subject to approval by the board of directors of Black Shield and the Canadian Securities Exchange. All securities issued pursuant to this offering will be subject to a four-month plus one-day hold period from the issuance date. Black Shield may pay finder's fees and/or commissions to eligible persons in connection with the Option in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
...
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_reso…aps/SYH-Athabasca-Map.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

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