Skyharbour Resources (TSX-V: SYH), a uranium exploration company with prime assets in the Athabasca Basin, is poised to capitalize on the anticipated resurgence in the uranium market. The company’s extensive portfolio of uranium exploration projects and strategic joint ventures with industry leaders make it a wise investment for those seeking to benefit from the rising demand for nuclear power. With twenty-five projects covering over 587,000 hectares of mineral claims, Skyharbour is well-positioned to become a major player in the uranium mining industry.

Today, Skyharbour announced that its partner company, North Shore Uranium, has collected multiple samples from two of the first three uranium prospects drilled at its 55,699 hectare Falcon Property located at the eastern margin of the Athabasca Basin in northern Saskatchewan, returning anomalous uranium values of greater than 300 ppm U₃O₈ and up to a maximum of 572 ppm U₃O_8.

These results confirmed the encouraging field findings for P03 and P08 that were based on downhole gamma probe readings and geologic observations. Uranium mineralization was confirmed at P03 and P08 with the most significant intersection being at P08, 316 ppm U₃O₈ over a 4.7 metre interval with a peak value of 572 ppm U₃O₈. The following summarizes North Shore’s drilling results and future plans:

• P03: A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered between 193.5 – 196.0m coincident with the projected location of the modelled EM conductor. Below this fault zone from 196.6 to 209.0m, multiple samples had elevated uranium content including two samples with greater than 300 ppm U₃O₈.
• P08: A 4.7m interval between 42.3 – 47.0m returned 316 ppm U₃O₈ with one sample in the interval returning the highest reading from the program, 572 ppm between 42.3 – 42.8m. From 102.3 – 105.5m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the EM conductor.
• Next Steps: Given the encouraging results, North Shore will evaluate potential options for further evaluation of the uranium-bearing structures associated with targets P03 and P08, including drilling deeper and/or shallower and/or along strike of the interpreted EM conductor. As the modelled target at P12 was not reached, North Shore will consider re-testing this target. In addition, multiple high-priority target zones that have been identified at Falcon have not yet been evaluated by drilling. North Shore is currently planning a field program to investigate the highest priority targets by mapping and prospecting and continues to prioritize targets for future drilling.

Mr. Brooke Clements, President and CEO of North Shore stated: “We are very encouraged to have confirmed near-surface uranium mineralization at two of the first three targets drilled at Falcon during our maiden drill program. These results affirm our belief that Falcon has great uranium exploration potential, emphasizing the importance of following up on these results as well as testing other compelling untested EM conductor zones that we have identified. We believe that we have just scratched the surface at Falcon and we look forward to future exploration programs on the Property.”

Skyharbour stock is testing a very critical support level. The $0.42 zone has been both support and resistance in the past which intensifies the importance of this test. Will buyers be able to hold this support? Or will the bears be able to confirm a breakdown?

A breakdown would lead to a possible move back down to the $0.30s. For bulls, watch for some sort of large green engulfing candle, or a large wick candle to indicate the buyers are stepping in here.