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Skyharbour Resources and JV Partner Orano Announce Completion of Geophysics and Upcoming Commencement of Field Program at Preston Uranium Project
Vancouver, BC, June 25, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”), is ple
About this update from Skyharbour Resources Ltd.
[{"type":"text","content":" Vancouver, BC, June 25, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”), is pleased to announce that its joint-venture partner company, Orano Canada Inc. (“Orano”), has recently completed a geophysical program at the 49,635 hectare Preston Uranium Project (“Preston” or the “Property”) located in the western Athabasca Basin, Saskatchewan, Canada. The program included a ground electromagnetic survey (ML-TEM) and a ground gravity survey. Orano is now preparing for a Spatiotemporal Geochemical Hydrocarbons (SGH) soil sampling program that will take place this summer at the project. Location Map of Preston Project: The 2024 field programs mark the first exploration programs carried out by Orano at Preston since 2020. The recently completed geophysics covered 35.6 km of ground Moving-Loop Transient ElectroMagnetic (ML-TEM), covering the Preston West target where there is a known conductor, along with the Preston Far West target where a reconnaissance survey was conducted. The ground gravity survey consisted of 2,295 stations and covered an area along the FSAN and FSANE trends. The final geophysical data from this field program is pending. An SGH soil sampling program with over 1,100 samples planned is set to commence this summer with additional news forthcoming. The SGH program will cover a large area and is a cost-effective, innovative exploration technique being used in the Athabasca Basin to vector in on uranium showings associated with certain hydrocarbons. The total budget for the multi-phased 2024 campaign is approximately CAD $850,000 with Orano as the operator and Skyharbour as a minority, participating partner in the project. Preston Uranium Project: In March 2017, Skyharbour signed an option agreement with Orano (formerly AREVA Resources Inc.) that provided Orano an earn-in option to acquire a majority working interest in the 49,635 hectare Preston Uranium Project. The significant potential of the Project has been highlighted by past discoveries in the area by NexGen Energy Ltd. (Arrow deposit), Fission Uranium Corp. (Triple R deposit), and F3 Uranium Corp. (PLN discovery). Exploration at the Project has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping s...