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Skyharbour Resources Completes Acquisition of South Dufferin Uranium Project

Following up on their press release from April 27th, 2023, Skyharbour Resources Ltd. has reported that it has successfully acquired 100% of the South Dufferin Uranium Project from Denison Mines Corp. through share and cash payments.

South Dufferin Property Map. Image Credit: Skyharbour Resources Ltd.

In the Athabasca Basin, which is home to the highest-grade uranium resources in the world and is frequently listed as a top mining jurisdiction by the Fraser Institute, the South Dufferin Project spans 12,282 hectares (30,349 acres) over nine claims.

Skyharbour presently owns ownership interests in a total land package totaling 504,356 hectares (1,246,290 acres) spread across twenty-four sites, making it one of the largest project portfolios in the area. This includes the recently acquired South Dufferin.

As the Company seeks strategic partners to advance this asset, South Dufferin will join Skyharbour’s prospect generator business while the Company stays focused on its ongoing 10,000 m drill program at the Russell Lake project.

Summary of South Dufferin Project

The South Dufferin project spans 12,282 hectares across eight claims and is situated in northern Saskatchewan, directly south of the southern edge of the Athabasca Basin.

The property includes the southern extension of the Virgin River Shear Zone, which is known to contain high-grade uranium mineralization at the Dufferin Lake zone of Cameco Corp., which is located 13 km to the north (highlight drill results of 1.73% U3O8 over 6.5 m), and the Centennial deposit of Cameco Corp., which is located 25 km to the north (includes drill intersections up to 8.78% U3O8 over 33.9 m).

Airborne EM, magnetic and radiometric surveys, lake water and sediment sampling, prospecting for and ground-truthing of airborne anomalies, geological mapping, and diamond drilling are some of the earlier exploratory techniques used on the project.

In several of the earlier drill holes, increased uranium was found along with locally abnormal base metal and boron concentrations and substantial clay alteration.

It is possible to explore the Virgin Lake Shear zone’s parallel faults and the Dufferin Lake fault for basement-hosted uranium deposits. Exploration at South Dufferin has brought the project to the point where it is ready for discovery due to the multiple mineralized showings to the property’s north.

The Virgin River Shear zone’s Dufferin Lake fault, which has an apparent offset of more than 200 meters, and a number of related faults have significant exploration potential for basement-hosted uranium deposits. The project is prepared for drilling, and there are several potential targets that need more work.

The claims have been in good standing for a number of years, and other than a 2% NSR on one of the claims, there are no underlying royalties on the land. Skyharbour additionally has a 922-hectare claim next to South Dufferin, giving its total land holdings over 10 claims to 13,204 hectares (32,628 acres).

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