Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB) announced in a news release that with plans ready to commence a summer drill program at its Moore Uranium Project in Saskatchewan's Athabasca Basin, it will mobilize a rig soon.
This next phase of drilling "will serve as an important near-term catalyst for the company," President and CEO Jordan Trimble said in the release. "The high grade uranium mineralization discovered during previous drill programs illustrates the strong discovery potential at Moore and recent geophysics and geological modeling have yielded new high priority drill targets that have seen limited historical drilling."
The Vancouver-based explorer plans to drill seven to nine diamond drill holes over 2,500 meters in follow-up to its winter campaign.
Skyharbour will drill test unconformity and basement-hosted targets along the Maverick structural corridor, aiming in part to identify any underlying basement feeder zones. Of the corridor's 4.7 kilometers, only 2.5 km have been tested thus far. Therefore, it offers further discovery potential.
The company also intends to expand the high-grade mineralization at the Maverick East zone and test the Viper target along strike.
"The uranium market has recently shown notable signs of recovery with increasing uranium prices and improving sentiment, and this recovery appears to be accelerating amid recent news and several sector developments including mine closures and production curtailment," Trimble said.
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