SYH Breaking Out Following New Russel Lake Discovery Skyharbour Resources (SYH.v SYHBF) breaking out today following its new discovery at the Russel Lake Uranium Project with high-grade uranium mineralization up to 3.0% U3O8 at the newly identified Fork Zone.
Yesterday, SYH announced the initial results from Phase One of its 2024 winter drill program at its 73,294 hectare Russel Lake Project, strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan.
This drilling was completed during two separate phases of the winter drill program, with a total of 3,094m drilled in six holes completed in phase one, followed by 2,058m in four holes completed in phase two, with geochemical assays still pending and to be released at a later date.
Significantly, SYH intercepted 0.721% U3O8 over 2.5 meters at a depth of 338.1 meters, including 2.99% U3O8 over 0.5 meters.
This marks a new high-grade discovery at the newly identified and high-priority Fork Target, with mineralization open in most directions.
Fully funded for a summer drill campaign of 7,000-8,000 meters across its Russell and Moore projects, this mineralization will be a focus of future drilling.
SYH President & CEO, Jordan Trimble, stated:
“The discovery of multi-percent, high-grade, sandstone-hosted uranium mineralization at a new target is a major breakthrough in the discovery process at Russell – something that hasn’t been seen before at the project with the potential to quickly grow with more drilling. The intercept in hole RSL24-02 represents the best zone of mineralization discovered yet at Russell and it is strategically located proximal to nearby infrastructure bringing drilling costs down. The relatively shallow mineralized zone is open for expansion and we are keen to follow-up on this discovery with another sizeable, fully-funded drill program this summer and fall. Furthermore, additional assays are pending from Russell as well as from drilling carried out at our Moore project, while partner companies are advancing numerous other properties in our project portfolio.”
For more information, check out Red Cloud's Exploration Update: https://cdn-ceo-ca.s3.amazonaws.com/1j8t2b0-20240710-SYH-Update-2.pdf