Skyharbour Resources identifies radioactivity at Preston Uranium property in Canada

6 May 2014 (Last Updated May 6th, 2014 18:30)

Uranium exploration firm Skyharbour Resources has intersected twelve high-level zones of radioactivity at its Preston Uranium property in the south-west Athabasca Basin in Canada.

Uranium exploration firm Skyharbour Resources has intersected twelve high-level zones of radioactivity at its Preston Uranium property in the south-west Athabasca Basin in Canada.

The Western Athabasca Syndicate carried out drilling at seven holes over a total of 1,571m. The PN14007 hole returned a higher level of radioactivity during a down hole gamma probe, including 0.75m measuring 1,432 counts per second (cps) in a background of 80cps to 100cps.

Of the seven drill holes that were tested for the Swoosh target, six were completed to depths of between 200m and 360m, while the other was discarded due to poor drilling conditions.

Five holes showed higher levels of radioactivity and intersected multiple graphitic units within sheared and altered basement lithologies, comprising pervasive chlorite, hematite and clay development, similar to uranium mineralisation in the Athabasca Basin.

All the holes were drilled at -45° to -50° and radio-metrically surveyed using a RS-230 gamma-ray spectrometer, and a Mount Sopris 2PGA-1000 down-hole natural gamma probe.

Drilling is set to recommence to test the CHA and Fin targets and a review of final assays and geochemistry will be conducted, following the receipt of results expected in early June.

The syndicate's technical team chose to expand the initial drill plan at the Swoosh target towards locating shallow uranium mineralisation, as a result of the findings in the first drill programme.

Additional field work and drilling at the Swoosh target is expected to begin later this year.

The Western Athabasca Syndicate is a partnership between Skyharbour, Athabasca Nuclear, Lucky Strike and Noka to explore and develop a 287,130ha suite of uranium properties in the Western Athabasca Basin.

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