Skyharbour Resources (SYH.V) partner company Valor Resources received results from their recent on-ground field program looking for uranium at the Hook Lake Project, which concluded in August.
The planning for the company’s diamond drilling program at Hook Lake is at an advanced stage with all permits in place, and the company is preparing to test at depth and along strike from the historical trench at Hook Lake, where recent surface sampling brought back assays of up to 59.2% U3O8, 5.05% TREO, 507g/t Ag and 14.5% Pb.
“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,” said George Bauk, Valor’s executive chairman.
Skyharbour is a uranium explorer presently working in the Athabasca Basin that’s ready to drill with six projects covering over 250,000 hectares of land. They have acquired a 100% interest in the Moore Uranium Project from Denison Mines, a large shareholder of the company. The project is located 15 kilometers east of Denison’s Wheeler River project and 39 south of Cameco’s McArthur River uranium mine.
The Hook Lake project is 60 kilometers east of the Key Lake mine in north Saskatchewan, and covers 25,846 hectares. The 16 contiguous mineral claims host several possible sites 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 diamond drilling program will be around the historical trench at the Zone S propect where recent samples taken by Valor returned assays of:
- 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)
Final drill holes are presently being determined using historical drilling data compiled into a 3D model over the Zone S area, and is planned to commence in December with an expected program of 10-15 drill holes for a total of between 2,500m – 4,500m.
—Joseph Morton
Full disclosure: Skyharbour Resources is an equity guru marketing client.
