Skyharbour’s Partner Company Azincourt Energy Updates Plans for Summer Exploration Program at the East Preston Uranium Project
VANCOUVER, British Columbia, July 06, 2021 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSK-V:SYH) (OTCQB:SYHBF)(Frankfurt:SC1P) (the “Company”) partner company Azincourt Energy (“Azincourt”) is pleased to provide an update on the upcoming summer exploration program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.
Project Location – Western Athabasca Basin, Saskatchewan, Canada
The primary target area for the 2021 summer program continues to be the conductive corridor from the A-Zone through to the G-Zone (Figures 1 and 2). The selection of this trend is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2021 drill programs. The 2020 HLEM survey completed in December indicates multiple prospective conductors and structural complexity along the eastern edge of this corridor.
Figure 1: Target corridors at the East Preston Uranium Project
Figure 2: 2021 Drill Target areas at the East Preston Uranium Project
Terralogic Exploration Inc. has been contracted to facilitate an airborne radiometric survey over the previously unsurveyed southern portion of the property (Figure 3) and conduct field investigations of resulting anomalies. Special Project Inc. (SPI) of Calgary, Alberta has been selected as the contractor using a fixed wing aircraft to complete the airborne radiometric survey, which will consist of approximately 1,700 km of survey lines flown at a low minimum altitude and 50m line spacing to ensure good data collection and a high survey resolution. The airborne survey is expected to commence within the next few weeks, and take approximately one week to complete, with approximately one week of ground follow-up to proceed shortly thereafter.
Figure 3: 2021 Radiometric Survey Coverage at the East Preston Uranium Project
An airborne radiometric survey uses a gamma ray scintillometer mounted on an airborne platform to measure and map the natural radiation emitted by the rocks and soil the aircraft is flying over. Gamma radiation occurs from the natural decay of elements such as uranium, thorium, and potassium. Locations that have a higher radiation signature (anomalies) than the normal values for the surrounding area (background) would then be examined by crews on the ground for the potential presence of radioactive bedrock if there is not much glacial till cover, or boulders in the till that could be traced back to a source. Many uranium deposits in the Athabasca Basin, including the nearby Triple-R deposit, have been found by following trails of radioactive boulders in the glacial till back to their source.
“The additional radiometric survey coverage will help us ensure that we are focusing on the best sections of the conductive trends we have identified,” said Azincourt’s Exploration Manager Trevor Perkins. “We are eager to add these results to our data package to make sure that the highest quality targets are tested first,” continued Mr. Perkins.
Planning is underway for a late summer/early fall diamond drilling program to complete approximately 1,000m of drilling remaining from the shortened winter 2021 program. An extensive 6,000m drill program consisting of 25-30 drill holes is planned for the winter of 2022. Target selection for these programs will be refined based on the summer 2021 field activities.
Permits and funding are in place to complete all the planned work through the winter of 2022, and consultations and information sessions with local communities are continuing throughout.
About East Preston:
Skyharbour and Dixie Gold entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned their interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing a total of 9.5 million common shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a 15% interest in the East Preston Project.
Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.
The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.
The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).
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 exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. 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 that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.
The Company also 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% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.
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 www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
President and CEO
For further information contact myself or:
Corporate Development and Communications
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 www.sedar.com for further information.To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
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
Mohawk Industries Reports Q2 Results29.7.2021 22:10:00 CEST | Press release
CALHOUN, Ga., July 29, 2021 (GLOBE NEWSWIRE) -- Mohawk Industries, Inc. (NYSE: MHK) today announced 2021 second quarter net earnings of $336 million and diluted earnings per share (EPS) of $4.82. Adjusted net earnings were $310 million, and EPS was $4.45, excluding restructuring, acquisition and other charges. Net sales for the second quarter of 2021 were $3.0 billion, up 44% as reported and 38% on a constant currency and days basis. For the second quarter of 2020, net sales were $2.0 billion, net loss was $48 million and diluted loss per share was $0.68, adjusted net earnings were $26 million, and EPS was $0.37, excluding restructuring, acquisition and other charges. For the six months ending July 3, 2021, net earnings and EPS were $573 million and $8.18, respectively. Net earnings excluding restructuring, acquisition and other charges were $556 million and EPS was $7.94. For the 2021 six-month period, net sales were $5.6 billion, an increase of 30% versus prior year as reported or 23
Sinch AB (publ): Sale of warrants from long term incentive program in Sinch AB (publ)29.7.2021 18:15:00 CEST | Press release
Stockholm, Sweden – Sinch AB (publ) – XSTO: SINCH Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, today announces that the company’s CEO, and other persons discharging managerial responsibilities, have divested warrants related to the long term incentive program LTI 2018. The LTI 2018 incentive program was adopted by the AGM on 18 May 2018 and consists of six different series. Series 1-3 consists of warrants for which Sinch AB received an upfront, cash payment from each program participant. Series 4-6 consists of employee stock options which employees are awarded over time, and where no monetary consideration is paid to Sinch. Each warrant and stock option allows the holder to acquire 10 shares in Sinch. The warrants and stock options have a duration of three to five years, with exercise periods in 2021, 2022 and 2023. In accordance with the European Market Abuse Regulation (MAR), transactions by CEO Oscar Werner and other persons discharging ma
Sinch AB (publ): Försäljning av teckningsoptioner från incitamentsprogram i Sinch AB (publ)29.7.2021 18:15:00 CEST | Pressemelding
Pressmeddelande Stockholm, Sverige – Sinch AB (publ) – XSTO: SINCH Sinch AB (publ), en ledande global leverantör av molntjänster för kundinteraktion via mobilen, meddelar idag att vd och andra ledande befattningshavare har sålt teckningsoptioner i Sinch kopplat till incitamentsprogrammet LTI 2018. Incitamentsprogrammet LTI 2018 beslutades av bolagsstämman i Sinch den 18 maj 2018 och består av sex olika serier. Serie 1-3 består av teckningsoptioner som Sinch AB överlåtit till anställda mot kontant ersättning. Serie 4-6 består av personaloptioner som anställda erhåller över tid som löneförmån. Varje option ger rätt att teckna tio aktier. Optionerna löper över tre till fem år med förfall 2021, 2022 och 2023. I enlighet med den europeiska marknadsmissbruksförordningen (MAR) har transaktioner för vd Oscar Werner och övriga ledande befattningshavare registrerats i Finansinspektionens insynsregister. Dessa transaktioner gäller försäljning av teckningsoptioner i serie 1. För vd Oscar Werner ra
FLSmidth to acquire thyssenkrupp’s Mining business – creating a global industry leader in mining technology29.7.2021 12:39:04 CEST | Press release
Company Announcement No. 7 2021 FLSmidth and thyssenkrupp Industrial Solutions AG (a fully owned subsidiary of thyssenkrupp AG, "thyssenkrupp") have reached an agreement that FLSmidth will acquire thyssenkrupp’s Mining business1 (TK Mining) for a total consideration (enterprise value) of EUR 325 million, corresponding to approximately DKK 2.4 billion. Closing of the transaction is expected in H2 2022 and is subject to customary approvals from relevant authorities. TK Mining is a leading full-line supplier of solutions for mining systems, material handling, mineral processing and services, which is highly complementary to FLSmidth’s offering. TK Mining has an asset light business model and is present in 24 countries with engineering and global service centres, and has close to 3,400 employees. In 20202, revenue was EUR 780 million (approximately DKK 5.8 billion) with around one-third deriving from services. The business delivered a high single-digit negative EBIT margin and is expected
Millicom to repurchase own shares29.7.2021 12:02:00 CEST | Press release
Millicom to repurchase own shares Luxembourg, July 29, 2021 – On May 4, 2021, the Annual General Meeting of Shareholders (“AGM”) of Millicom resolved to authorize (the “Authorization”) the Board of Directors of Millicom (the “Board”) to adopt a share repurchase plan. Based on the Authorization, the Board has decided to initiate a repurchase program comprising not more than 5,000,000 Swedish Depository Receipts representing the Company’s ordinary shares (“SDRs”). The purposes of the share repurchase plan may include: reduction of Millicom's share capital; meeting obligations for Board remuneration; and/or meeting obligations under Millicom’s share-based incentive plans or other compensation programs. The repurchase program will be implemented in accordance with the Authorization, the Nasdaq Nordic Main Market Rulebook for Issuers of Shares (“Nasdaq Rulebook”), and applicable law including the Luxembourg law of 10 August 1915 on commercial companies, as amended, and the EU Market Abuse R
Fobi Wallet Pass For Ticketing And Global Fan Engagement Powers bdG Sports “Baha Mar Hoops” Tournament Featuring 19 NCAA Men’s And Women’s Basketball Teams, Including US Thanksgiving Nationally Televised Events29.7.2021 12:00:00 CEST | Press release
After multiple event successes with bdG Sports, Fobi is now adding ticketing and admissions capabilities to live and digital fan engagement to deliver a comprehensive solution for the “largest early season event in all of college basketball” at Baha Mar Hoops in The Bahamas VANCOUVER, British Columbia., July 29, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (formerly Loop Insights Inc.) (TSXV: FOBI) (OTCQB: FOBIF) (the "Company" or "Fobi"), is pleased to announce it will once again be supporting bdG Sports for college basketball’s largest early season event. The invite-only global event at Baha Mar Convention Center in Nassau, The Bahamas will take place from November 22-27, 2021 and will use Fobi’s Wallet Pass platform for ticketing, admission, and fan engagement both live and at home. Fobi will earn significant revenue from this event through the event license, ticket fees and fan activations both live and at home, including nationally televised and digital audiences across the United States
Building momentum and delivering results29.7.2021 12:00:00 CEST | Press release
Building momentum and delivering results Luxembourg, July29, 2021– Millicom is pleased to announce its second quarter 2021 results. Please find below links to the Q2 2021 Earnings Release and H1 2021 Interim Condensed Consolidated Financial Statements. Millicom Chief Executive Officer Mauricio Ramos commented: "We had an outstanding Q2. We built on our robust Q1 performance and delivered double-digit growth in both service revenue and EBITDA. In Colombia, we now have the best mobile network, and we capitalized on this in Q2 by leading the market in portability and by adding a record number of new postpaid customers. Our rapid customer and revenue growth is a direct result of our unwavering commitment to delivering the best customer experience, including network quality and reliability. With that in mind, and considering our healthy cash flow generation, we have accelerated investments that we expect will help us drive faster growth in all our businesses going forward. In light of our s