Skyharbour and JV Partner Orano Commence 2024 Exploration Programs at the Preston Uranium Project

VANCOUVER, British Columbia, April 03, 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 commenced a comprehensive 2024 field campaign at the 49,635 hectare Preston Uranium Project (“Preston” or the “Property”) located in the western Athabasca Basin, Saskatchewan, Canada. The program will include a ground electromagnetic survey (ML-TEM), a ground gravity survey, and a Spatiotemporal Geochemical Hydrocarbons (SGH) soil sampling program.

Location Map of Preston Project:
https://www.skyharbourltd.com/_resources/maps/Sky_Preston_20211209.jpg

The 2024 field programs mark the first exploration programs carried out by Orano since 2020. The geophysics will consist of ground Moving-Loop Transient ElectroMagnetic (ML-TEM) and ground gravity surveys for an estimated 35.6 line-km and 2,295 stations, respectively. The ML-TEM survey will cover Preston West where there is a known conductor, and Preston Far West as a reconnaissance survey. The gravity survey will cover an area with intentions to identify alteration zones manifesting as gravity lows. The SHG soil sampling is set to commence later in the summer with additional news forthcoming. The budget for the 2024 campaign is approx. CAD $850,000 with Orano as the operator and Skyharbour as a minority, participating partner in the project.

Preston 2024 Field Programs – Geophysical Surveys:
https://www.skyharbourltd.com/_resources/images/Geophysical-Survey-Pro ...

Jordan Trimble, President and CEO of Skyharbour, stated: “We are very much looking forward to the findings of these exploration programs this year at Preston with our strategic partner Orano. This is the first field work being carried out at the Project in several years, and we have elected to participate in the program as a minority partner in the JV as we strongly believe in Preston’s discovery upside potential.”

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 surveys, as well as exploratory drill programs. Over a dozen high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through these methodical, multiphased exploration initiatives, which have culminated in an extensive, proprietary geological database for the project area.