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Skyharbour’s Partner Company Medaro Mining Commences Airborne Geophysical Survey at Yurchison Uranium Property, Saskatchewan
Vancouver, BC, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) partner company Meda
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[{"type":"text","content":" Vancouver, BC, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) partner company Medaro Mining (“Medaro”) is pleased to announce that it has commenced an airborne geophysical survey at its Yurichson Uranium Property in Saskatchewan. Medaro has contracted Terraquest Ltd. of Markham, Ontario to complete a helicopter-borne aeromagnetic, horizontal gradiometric, radiometric, and VLF-EM surveys on the Property. A total of 7,117 line-kilometers of survey is being completed at 50 m line spacing using a helicopter. Location Map of Yurchison Project Survey Highlights: Total 7,117 line-km at 50 m line spacing; with 1,029 lines and 19 tie lines; line azimuth 135°/315°; tie line azimuth 045°/225° High Resolution Aeromagnetics (Fixed Nose boom for safe and low acquisition) Radiometric (single crystal pack) Horizontal Gradiometer - Fixed side booms Matrix Digital very low frequency - electromagnetic (VLF-EM) Aircraft AStar 350 B2; with terrain clearance 25m-30m drape mode Figure 1: Geophysical Flight Path The survey crew is based at KM147 Lamp Lighters Lodge, Saskatchewan, which is located near the Yurichson Property. The survey is expected to be completed over the next few weeks. Medaro will provide an update on the results of the survey as soon as available. About Yurchison Uranium Project: Historical prospecting near old trenches returned significant uranium (ranging from 0.09% to 0.30% U3O8) and molybdenum (ranging from 2,500 ppm to 6,400 ppm Mo) mineralization in both outcrop and float samples. Two historical holes drilled beneath the trenches returned highly anomalous molybdenum values, up to 3,750 ppm and anomalous uranium values up to 240 ppm. The Property boasts strong discovery potential for both basement hosted uranium mineralization as well as copper, zinc, and molybdenum mineralization. Regionally, Rio Tinto entered into a $30 million, seven-year, option agreement with Forum Energy Metals Corp. to acquire an 80% stake in their Janice Lake property which is located on-strike to the southwest of the Property. The Option Agreement: Pursuant to the Agreement, Medaro may acquire an initial 70% interest in the Property by (i) issuing common shares of Medaro (“Shares”) having an aggregate value of CAD $3,000,000; (ii) making aggregate cash payments of CAD $800,0...