Skyharbour Expands High Grade Maverick East Zone with Drill Results of 0.72% U3O8 over 17.5m including 1.00% U3O8 over 10.0m; Additional Assays Pending


VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.(TSX-V:SYH)(OTCQB:SYHBF)(Frankfurt:SC1P) (the “Company”) is pleased to announce initial results from its recent 2020 fall diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project, located 15 kilometres east of Denison Mine’s Wheeler River project and proximal to regional infrastructure for Cameco’s Key Lake/McArthur River operations in the Athabasca Basin of Saskatchewan. Drill hole ML20-09 confirmed the continuity of the Maverick East Zone by intersecting a discrete zone of predominantly basement-hosted uranium mineralization at 271.5 metres to 289.0 metres downhole, the longest continuous drill intersection of uranium mineralization discovered to date at the project. This interval returned 0.72% U3O8 over 17.5 metres and contained a basal high grade basement interval of 1.00% U3O8 over 10.0 metres.

Moore Uranium Project Claims Map:


  • Hole ML20-09, which was drilled as a follow up to hole ML20-06 in the eastern half of the Maverick East Zone, intersected predominantly basement-hosted mineralization and returned 0.72% U3O8 over 17.5 metres from 271.5 metres to 289.0 metres including 1.00% U3O8 over 10.0 metres from 279.0 metres to 289.0 metres.
  • The mineralized intercept in hole ML20-09 is a discrete zone of mineralization primarily hosted in sheared, clay-altered to -replaced graphitic pelitic assemblages within the basement rocks. The intercept confirms the potential of the central portion of the eastern extension of the Maverick East Zone. The eastern 50 metres of the Maverick East Zone has only marginally been drill tested to date and is open along strike and at depth in the basement rocks.
  • A greater understanding of the Maverick Structural Corridor was also obtained by the drilling of two broadly spaced exploratory drill holes in the Maverick West target area. The drilling identified continuity of the geological model in the area with locally anomalous geochemistry in the basement rocks.
  • Substantial portions of the 4.5 kilometre long Maverick corridor remain to be systematically drill tested leaving robust discovery potential along strike as well as at depth in the basement rocks.
  • Final assay results are pending for four more drill holes.

Jordan Trimble, President and CEO of Skyharbour Resources, stated: “Drill hole ML20-09 is a breakthrough hole for us at the Maverick East Zone as it is the longest continuously mineralized drill intercept the Company has reported and it is one of the best basement-hosted zones of mineralization discovered at the project. We are successfully increasing the size of the high grade uranium zones at the Maverick corridor and these results illustrate the notable discovery upside potential at the project especially in the basement rock feeder-zones which have had limited drill-testing historically. The remaining assay results from the program are pending with planning for additional drilling at Moore Lake currently underway.”

Summary of Initial Results from Fall2020 Drill Program:

The recently completed winter diamond drilling program totalled 2,560 metres in seven drill holes. These holes tested the Maverick West area (holes ML20-07 and ML20-08), the eastern portion of the Maverick East Zone (holes ML20-09, 10, 12 and13) and a transitional zone between the Viper and Esker target areas (hole ML20-11). The results of ML20-07, ML20-08 and ML20-09 have been compiled and interpreted, and are reported herein. The results of holes ML20-10 to ML20-13 will be released when fully compiled and interpreted.

Moore Uranium Project Regional Grid Targets Map:

Drill hole ML20-09 was collared in the central, sparsely drilled, portion of the newly extended Maverick East Zone up-dip of hole ML20-06 where four modest intervals of uranium mineralization straddling the unconformity were intersected. Hole ML20-09 intersected a discrete, largely basement-hosted interval of uranium mineralization, with a minor sandstone-hosted component. The zone begins at 271.5 metres downhole and grades 0.72% U3O8 over 17.5 metres, which is the longest continuous zone of uranium mineralization drilled at the project by Skyharbour. It includes a basal intercept of 1.00% U3O8 over 10.0 metres from 279.0 metres to 289.0 metres. The uranium mineralization in the sandstone is hosted by clay enriched and replaced de-silicified sandstone, while the basement-hosted mineralization is within clay-altered to -replaced and sheared graphitic pelitic gneiss. The sandstone and basement are both highly enriched in indicator metals with up to 22,300 ppm Ni and 5,250 ppm Co associated with a 0.5 metre interval of 5.00% U3O8 in the basement rocks.

Moore Uranium Project Maverick Corridor Drilling Map:

A greater geological understanding of the Maverick Structural Corridor was also obtained by additional drilling in the sparsely drilled Maverick West area. Drill hole ML20-07 was collared approximately 10 metres up-dip of hole ML-209, which was drilled in 2007 in the westernmost portion of the Maverick West conductor. The target was a significant resistivity low where anomalous geochemistry from historic drilling had been identified in structurally disrupted graphitic pelitic gneiss packages, including 0.5 metres of 0.078% U3O8 in hole ML-209. Hole ML20-07 intersected over 65 metres of variably graphitic and locally structurally and altered disrupted pelitic gneiss below the unconformity. Anomalous levels of boron, vanadium and copper and nickel were encountered in localized graphitic faults throughout the basement rocks. No significant uranium mineralization was intersected in this hole, but a greater understanding of the geological and structural characteristics of the area was obtained. Drill hole ML20-08 was drilled approximately 125 metres east-southeast of hole ML20-07 in the Maverick West area and tested the complex relationship of a historic conductor identified in the 1990’s by AREVA (now Orano) and the currently interpreted Maverick West conductor. This hole was anomalous in the uranium pathfinder elements and the basal sandstone was strongly altered and structurally disrupted.

Upcoming Results and Future Exploration Plans:

The results of the remaining four drillholes (ML20-10 to ML20-13) will be released when fully compiled and interpreted. Skyharbour has also initiated permitting for anticipated geophysical and diamond drilling programs to take place in the winter and summer seasons of 2021. The drill program will test targets identified by the geophysical program and both unconformity and basement targets along the high grade Maverick corridor, as well as essentially untested prospective conductive corridors identified by Skyharbour’s technical team. Of particular interest are potential underlying basement feeder zones to the unconformity-hosted, high grade uranium present at the Maverick corridor.

Moore Uranium Project Overview:

In June 2016, Skyharbour secured an option to acquire Denison Mine's Moore Lake Uranium Project, on the southeastern side of the Athabasca Basin, in northern Saskatchewan and has fulfilled its earn-in requirements. The project consists of 12 contiguous claims totaling 35,705 hectares located 42 kilometres northeast of the Key Lake mill, approximately 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River uranium mine. Unconformity style uranium mineralization was discovered on the Moore Project at the Maverick Zone in April 2001. In 2017, Skyharbour announced drill results including 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test with future drill programs. The project is fully accessible via winter and ice roads which simplifies logistics and lowers costs. Also, large proportions of the property are accessible in the summer as well.

Moore Lake Uranium Project Geophysics Map:

Uranium Market Commentary and Update:

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-specific developments. Analysts that cover the sector have stated that this could be a sustained upswing as they are currently seeing some of the best fundamentals since pre-Fukushima which should be supportive of higher uranium prices as a major supply-side response is playing out while the sticky demand-side continues to improve. Uranium production is on the decline and is expected to be approx. 122 million lbs U3O8 in 2020 while demand continues to rise and is expected to be approx. 182 million lbs in 2020. The spot uranium price is approx. $30 / lb U3O8 which is still well below the average all-in global cost of production and significant price appreciation is needed to justify this production as well as developing new mines to ensure sustainable and secure supply to meet growing global demand. There are 443 operable nuclear reactors and 53 new reactors under construction globally with hundreds more planned in the pipeline. China and India continue to be at the forefront of demand growth and have the largest reactor pipelines making up a significant portion of the global growth. More recently, an important emerging market for nuclear and uranium demand in small modular reactors has gained notable positive press and momentum. As the global push for decreasing carbon emissions continues, nuclear energy will play a vital role in providing base-load, carbon emissions-free, low-cost electricity generation.

On the supply-side, mine closures and production curtailment continue to dominate headlines which has been exacerbated by the pandemic clearly illustrating the risks to global primary mine supply. Major production cuts and depleting mine reserves appear to be working their way into the uranium market and driving prices higher. The two largest producers, Cameco and Kazatomprom, have announced large supply cuts over the last several years and have been actively buying uranium directly in the spot market to fulfill their contract deliveries as their production profiles have decreased. Several uranium mines in other parts of the world including Africa were also impacted by the pandemic adding to the supply disruption for 2020 which has now culminated in a significant primary mine supply deficit forecasted for the year.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person. 

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with previous drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres.

Skyharbour has separate option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston and East Preston Projects respectively through a combined CAD $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% U3O8 and 5.3 million pounds of ThO2 at 0.023% ThO2. Recently, Skyharbour signed a LOI with Australian company Pitchblende Energy, which is being acquired by ASX-listed Valor Resources, on the North Falcon Uranium Project whereby Pitchblende can earn-in 80% of the project through $3,500,000 in total exploration expenditures and $425,000 in total cash payments over three years as well as shares in the company.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions

Skyharbour’s Uranium Project Map in the Athabasca Basin:

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at


“Jordan Trimble”
Jordan Trimble
President and CEO

For further information contact myself or:
Spencer Coulter
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information.

About GlobeNewswire

One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Invitation to UPM’s webcast and press conference on Financial Statements for the year 202021.1.2021 09:00:00 CETPress release

(UPM, Helsinki, 21 January 2021 at 10:00 EET) – UPM will publish its fourth quarter results and Financial Statements for the year 2020 on 28 January 2021 at 09:30-10:00 EET. After publishing the report will be available on company's website at A webcast and a conference call for analysts and investors in English language begins at 13:15 EET. UPM’s financial results will be presented by the President and CEO Jussi Pesonen and CFO Tapio Korpeinen. All participants can view the webcast online at or through this link, but participants who wish to ask questions must attend the conference call by dialling a number in the list below: Conference call title: Financial Statement Release for the year 2020 International telephone numbers: Argentina Toll: +54 1152526536 Australia Toll: +61 284058549 Austria Toll: +43 19287907 Belgium Toll: +32 24035814 Brazil Toll: +55 1133517266 Bulgaria Toll: +359 29358129 Canada Toll: +1 4162164189 Chile Toll: +56 226188227 China Toll: +

Cargotec’s financial statements review 2020 to be published on Thursday, 4 February 202121.1.2021 08:30:00 CETPress release

CARGOTEC CORPORATION, PRESS RELEASE, 21 JANUARY 2021 AT 9:30 AM (EET) Cargotec’s financial statements review 2020 to be published on Thursday, 4 February 2021 Cargotec Corporation will publish its financial statements review 2020 on Thursday, 4 February 2021 at approximately 1:30 p.m. EET. The report will be available at after publication. A live international telephone conference for analysts, investors and media will be arranged on the publishing day at 3:00 p.m. EET. The event will be held in English. The report will be presented by CEO Mika Vehviläinen and Executive Vice President, CFO Mikko Puolakka. The presentation material will be available at by the latest 2:30 p.m. EET. The telephone conference, during which questions may be presented, can be accessed by registering here. The registration opens 15 minutes prior to the event. The event conferencing system will call the participant on the phone number provided and place the participant into the

NICE recommends Jyseleca® ▼(filgotinib) on NHS in landmark decision for rheumatoid arthritis21.1.2021 08:08:24 CETPress release

NOT FOR DISTRIBUTION IN THE UNITED KINGDOM NICE guidance, for the first time in the UK, supports access to an advanced therapy for people with moderate as well as severe rheumatoid arthritis (RA) - aiming to avoid irreversible damage as early as possible1More than 400,000 people across the UK live with RA2 and around 70% have moderate or severe disease3 Mechelen, Belgium, 21 January 2021, 08:05 CET – Galapagos NV (Euronext & Nasdaq: GLPG) today welcomed the news that the National Institute for Health and Care Excellence (NICE) has issued a final appraisal determination (FAD) recommending the use of the daily oral pill, JYSELECA®▼ (filgotinib) on the National Health Service (NHS) in England for the treatment of eligible adult patients with moderate to severe active rheumatoid arthritis (RA).1 It is the first time in the UK that an advanced therapy has been recommended in people with moderate RA, offering thousands more the potential to achieve remission earlier - potentially slowing the

Conference call to present Kinnevik’s fourth quarter and full-year results 202021.1.2021 08:00:00 CETPress release

Kinnevik AB (publ) ("Kinnevik") will publish financial results for the fourth quarter and full-year 2020 on Thursday 4 February 2021 at around 08.00 CET. A conference call will be held on the same day at 10.00 CET to present the results. The presentation will be held in English and also be made available via audiocast on Kinnevik’s website, Link to the audiocast: Those who wish to participate in the conference call are welcome to dial-in on the below numbers. To ensure that you are connected to the conference call, please dial in and register your attendance a few minutes before the conference call begins. Dial-in numbers: UK: +44 3333 000 804 SE: +46 8 566 426 51 US: +1 631 913 1422 Confirmation code: 69100644# For further information, visit or contact: Torun Litzén, Director Investor Relations Phone +46 (0)70 762 00 50 Email Kinnevik is an industry focused investment company with an ent

Telefonkonferens och presentation av Kinneviks resultat för fjärde kvartalet och helåret 202021.1.2021 08:00:00 CETPressemelding

Kinnevik AB (publ) ("Kinnevik") kommer att offentliggöra resultatet för det fjärde kvartalet och helåret 2020 torsdagen den 4 februari 2021 cirka kl. 08.00 CET. En telefonkonferens kommer att hållas samma dag kl. 10.00 CET för att presentera resultatet. Presentationen kommer att hållas på engelska och även finnas tillgänglig som audiocast på Kinneviks webbplats, Länk till audiocast: De som vill delta i telefonkonferensen i samband med presentationen är välkomna att ringa in på nedanstående nummer. För att vara säker på att uppkopplingen till konferenssamtalet fungerar, ring in några minuter innan konferensen börjar för att registrera er. Telefonnummer: UK: +44 3333 000 804 SE: +46 8 566 426 51 US: +1 631 913 1422 Kod: 69100644# För ytterligare information, besök eller kontakta: Torun Litzén, Informations- och IR-chef Telefon +46 (0)70 762 00 50 Email Kinnevik är ett sektorfokuserat invest

Huhtamaki invests in new state-of-the-art manufacturing unit in Malaysia21.1.2021 08:00:00 CETPress release

HUHTAMÄKI OYJ PRESS RELEASE 21.1.2021 AT 09:00 Huhtamaki invests in new state-of-the-art manufacturing unit in Malaysia Huhtamaki, a key global provider of sustainable packaging solutions for consumers around the world, is investing in a new manufacturing site in Malaysia. In order to better serve its customers and respond to future growth of the sector in Southeast Asia, the company is transferring its Malaysian manufacturing base from Penang to Port Klang, Selangor State, the capital region of Malaysia. The new site is expected to be fully operational by the end of the second quarter of 2021. “By investing in a world-class facility in Malaysia we are creating a platform for future growth in Southeast Asia. The new site is strategically located, it is close to our key customers and has easy access to neighboring countries. We will also use the relocation as an opportunity to modernize our equipment and increase automation to improve efficiency. Our initial focus will be on manufacturi

Agfa-Gevaert: Agfa intends to reorganize its Offset Solutions activities – Regulated information21.1.2021 07:45:00 CETPress release

Mortsel, Belgium – January 21, 2021 – 7:45 a.m. CET This press release contains inside information. On January 20, 2021, the Board of Directors expressed the intention to organize the Offset Solutions activities into a stand-alone legal entity structure and organization within the Agfa-Gevaert Group. This intended reorganization is part of the strategic transformation program for the Agfa-Gevaert Group, To improve profitability and to address the significant decline in market demand, Agfa is reviewing its offset business model, simplifying its organization and streamlining its product offering. About Agfa The Agfa-Gevaert Group is a leading company in imaging technology and IT solutions with over 150 years of experience. The Group holds four divisions: Radiology Solutions, HealthCare IT, Digital Print & Chemicals and Offset Solutions. They develop, manufacture and market analogue and digital systems for the healthcare sector, for specific industrial applications and for the printing in