A Deep Dive Into the Electrifying Drill Targets at Falcon Property

Skyharbour Resources Ltd. ("Skyharbour" or the "Company") has reported that its partner company, North Shore Uranium ("North Shore"), has initiated its drill program at the Falcon Property ("Falcon" or the "Property"), situated at the eastern margin of the Athabasca Basin in northern Saskatchewan.

North Shore intends to drill three targets linked with electromagnetic (EM) conductors. The Company furnished details regarding the drill program and an overview of the Property on February 28, 2024, and December 19, 2023.

TerraLogic Exploration Inc. is overseeing the drill program. The final three targets are located along a strong, dominantly northeast-trending EM conductor system. A subsurface geophysical model of the electromagnetic conductor has been prepared for each target, and an angle-drilled hole has been designed to intersect the conductor.

Falcon Uranium Project

Eleven mineral claims comprising approximately 42,908 hectares, located 50 km east of the Key Lake mine, make up the Falcon Property, a portion of North Shore's Falcon Property.

Two claims are from Skyharbour's Foster River Project, while the other nine are from the company's initial South Falcon Uranium Project.

Historical uranium mineralization found at Falcon is shallow and occurs in various geological settings, including classic Athabasca-style basement mineralization associated with well-defined EM conductors. At the EWA target, outcrop grab samples revealed uranium concentrations of up to 0.492 % U₃O₈ and lead concentrations of 1,300 ppm (Sask. Mineral Deposits Index [SMDI] 5038).

Historical grab sampling at Knob Lake (SMDI 1014) encountered uranium concentrations of up to 0.01% U₃O₈ in a pegmatite outcrop, while anomalous nickel, copper, and molybdenum were identified in historical grab samples from the Fraser North target area (SMDI’s 1125 and 1126).

The Property is defined by a well-defined electromagnetic conductor system that is locally folded and trends northeast. This system was identified by JNR Resources through airborne and ground geophysical surveys conducted in the 2000s. JNR ran a drill campaign at the property area in 2008.

Of the 47 holes drilled in that year, 28 holes (a total of 7,348 m) were drilled at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes) on the South Falcon Uranium Property.

Structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were found in several drill holes at the Walker and South Walker targets, which are located along the previously mentioned EM conductor system.

The Fraser Lakes Zone B uranium deposit was found during this same drill campaign, about 4 km east of the Walker South target, on a refolded extension of the EM conductor system. Anomalous uranium, boron, lead, and molybdenum were found in structurally disrupted pegmatites at the EWA target, located along a separate northeast-trending electromagnetic conductor.

The best result was 0.235 % U₃O₈ over 0.5 m (within a 3.5 m interval of 0.113 % U₃O₈) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045).

Skyharbour finished a magnetic survey and FALCON^® aerial gravity gradiometer over 9 of the 11 claims at the Falcon Property in 2022. North Shore will use this new geophysical data to help prioritize areas for drilling along the EM conductor system. There are still more than 30 km of untested EM conductor infrastructure on the Falcon Property.

At the southeast end of the EM conductor systems, North Shore will initially concentrate on two claims formerly part of the Foster Project (geophysics). They will also create drill targets on three claims, including Knob Lake, which exhibits similarities to the Fraser Lakes Zone B deposit about 6 km to the northeast, and several other high-priority targets elsewhere along the main EM conductor system.

The project has significant potential for both pegmatite/granite-hosted (alaskite-type) U-Th-REE mineralization, like at the Fraser Lakes Zone B deposit on Skyharbour's adjacent South Falcon East Property, which is currently under option to Tisdale Clean Energy, and basement-hosted, unconformity-related uranium deposits, like those further to the north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake, and others).

Source: https://skyharbourltd.com/