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Skyharbour Resources Signs Agreement to Sell Portion of Karin Uranium Property to Cosa Resources
Vancouver, BC, July 29, 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, July 29, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”), is pleased to announce that it has entered into a property purchase and sale agreement (the “Agreement”) with Cosa Resources Corp. (“Cosa”) dated July 26th, 2024, whereby Skyharbour will sell Cosa two (2) mineral claims, comprising approximately 6,049 hectares. These two claims represent a small portion of Skyharbour’s Karin Property and are located in Saskatchewan about 22 km south of the Key Lake Mill. In consideration for the claims, Cosa will issue to Skyharbour 250,000 common shares in the capital of Cosa (the “Consideration Shares”). Skyharbour originally acquired the claims through low-cost, online staking. The Company retains ownership in five other adjacent claims constituting the new Karin Project which is now 19,116 hectares. Karin Uranium Project The original Karin Project, inclusive of the two claims above, consisted of 7 claims totalling 25,165 hectares in the Highrock Lake area. The project is underlain by Wollaston Group metasedimentary gneisses, mostly psammitic to meta-arkosic in composition but with localized prospective pelitic to psammopelitic gneisses in fold noses, and it is prospective for both unconformity-related and pegmatite-hosted uranium mineralization. Location Map of the Karin Project The Karin project had seen some exploration in the late 1960's to early 1980's, including airborne EM, magnetics and radiometrics, radon surveys, prospecting, geological mapping, lake water and sediment sampling, as well as a limited amount of diamond drilling. Five drill holes that were successfully drilled on the Karin project intersected Wollaston Supergroup meta-arkose and semipelitic to pelitic gneisses, amphibolite and pegmatite to granodiorite, along with localized hematite, chlorite, epidote, and/or goethite alteration. The drilling on the Karin project was targeting some of the stronger EM conductors and radon anomalies on the property, however several other historical EM anomalies did not receive follow-up work. Given that this work took place prior to the development of modern geophysics and uranium exploration models, it is likely that additional prospective targets remain untested on the Karin project. The only recent exploration on the proj...