Skyharbour partner company azincourt energy commences drilling at east preston project in saskatchewan tsx venture exchange syh electricity word search puzzle

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VANCOUVER, British Columbia, March 20, 2019 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. SYH)(TSX-V: SYH) (OTCQB:SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has commenced phase one of its diamond drilling at the East Preston Uranium Project, in the western Athabasca Basin, northern Saskatchewan.

The Azincourt crew is on site and has completed construction of the first two drill pads. Target yoga gas relief pose number one, Pad B on L2400, targets the confluence of north and northeast-trending conductors (prospective structure) with a coincident gravity anomaly (potential alteration), and a positive airborne radiometric anomaly (potential mineralization indicator). Target number two, Pad E on l900, targets the on-strike extension of the Pad B conductor 1.5km to the r gasquet tennis southwest. An elevated conductor strength in this area coincides with a distinct flexural dislocation. These combined features outline a potential structural trap for the concentration of mineralized fluids. Additional targets are being prioritized as phase one drilling continues gas dryer vs electric dryer.

Azincourt’s 2019 drill program, with 10-15 holes (2,000-2,500 meters) planned, will test high priority targets within prospective conductor corridors defined by recent airborne geophysical surveys. Targets have been refined and prioritized based on encouraging fieldwork results, including coincident anomalies from ground gravity, airborne and ground EM and magnetics (graphitic conductors and structures), radon, soil, biogeochem, lake sediment, and geological mapping gas x strips walmart surveys. The program’s primary drill target in the Five Island Lake region is considered to be one of the most prospective geological targets on the property.

The survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines, oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston. 100% of the East Preston ground has now been subject to VTEM Max survey.

Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The electricity cost by state gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking gas nozzle icon of positive features has assisted in prioritizing targets.

The Main Grid shows 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 thermal electricity how it works 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).

Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute z gas cd juarez telefono cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and gasbuddy va Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period.

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 five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approx. 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 drill results gas efficient cars returning up to 6.0% U 3O 8 over 5.9 metres including 20.8% U 3O 8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $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 also owns a 100% interest in the Falcon Point electricity merit badge pamphlet Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U 3O 8 at 0.03% and 5.3 million pounds of ThO 2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U 3O 8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin electricity lyrics is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. 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.

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 q gastrobar leblon 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 gas house 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.