news from rainy riverSkyharbour receives Rainy River geological report
Skyharbour Resources Ltd (C:SYH)
Shares Issued 75,037,932
Last Close 1/9/2007 $0.14
Wednesday January 10 2007 - News Release
Mr. Donald Huston reports
SKYHARBOUR ANNOUNCES GEOLOGICAL REPORT FILED ON SEDAR FOR RAINY RIVER PROJECTS, NORTHWESTERN ONTARIO
Skyharbour Resources Ltd. has commissioned a geological report on its block D1, block D2 and block E properties, consisting of 1,874 hectares located in the Rainy River district of Ontario. The report was filed on SEDAR on Jan. 10, 2007, and can be accessed on the SEDAR website.
The three properties are well located to the west and southwest of the No. 17, the No. 433 and the new ODM gold zones of Rainy River Resources Ltd. property.
The geological report dated Dec. 18, 2006, on Skyharbour's Rainy River properties was prepared by David Busch, BA, BSc, PGeo. The report documents and evaluates previous preliminary exploration programs consisting primarily of overburden drilling. The report recommends a program to upgrade the data, and identify and test gold targets. The program includes overburden drilling, line cutting, magnetometer and horizontal loop surveying to be followed by diamond drilling of prospective targets. These techniques will assist in identifying potential gold-bearing structures and possible gold-bearing sulphide-rich zones in bedrock.
The company has now mobilized geological personnel onto the D1 and D2 claim blocks. The D1 and D2 claim blocks are well located immediately to the southwest of the No. 17, the No. 433 and the new ODM gold zones of Rainy River Resources property. Known gold mineralization in the immediate area (Rainy River Resources) shows a strong affinity with northwest-trending structures. Regional magnetic data indicate a series of these structures in the area. The newly acquired properties are located within extensions of the greenstone belt that is known to host the Rainy River Resources newly discovered gold deposits.
All of Skyharbour's Rainy River properties are viewed as having potential to host gold deposits based on favourable lithologies and presence of structures. Previous overburden drilling data (Nuinsco and Mingold assessment files from 1997) have now been compiled and digitized by Skyharbour. One sample returned a value of 15,000 parts per billion calculated gold content. No subsequent work was ever followed up at this site location. Two other overburden drill sites showed calculated gold values of over 2,500 parts per billion gold, however, the overall sampling density and distribution is not considered to be adequate at this time. Skyharbour intends to conduct a detailed overburden drilling program to provide more complete coverage and assist in the identification of drillable targets on the properties.
Mr. Busch, BA, BSc, PGeo, vice-president of explorations, is the qualified person, under the meaning of National Instrument 43-101, and has reviewed the data in this news release.