Skyharbour Resources, a Canadian uranium exploration company, has increased its uranium exploration footprint in the Athabasca Basin, Saskatchewan, by staking two new prospective uranium exploration claims.

The Athabasca Basin is known for its high-grade uranium deposits and is said to be a top-ranked mining jurisdiction. The new claims, part of the Bolt Project, are strategically located near Skyharbour’s existing infrastructure and high-grade uranium operations.

The two new claims (collectively called the Bolt project) add an additional 4,726.35ha of area in and around Athabasca Basin, bringing Skyharbour’s total land package with its ownership to around 523,097ha across 25 projects.

The project is located in close proximity to Cameco‘s Key Lake Operation and the southern rim of the Athabasca Basin.

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By GlobalData

Historical geological mapping suggests complex geology, with potential for high-grade uranium mineralisation. There have been several exploration activities since 1969, including geophysical surveys and drilling, which identified promising drill targets.

Despite the historical work, the Bolt project has largely been unexplored. However, recent geophysical and geochemical surveys have identified several drill targets with basement-hosted, unconformity-related uranium mineralisation potential. The property also shows promise for pegmatite and granite-hosted uranium-thorium-rare earth elements (U-Th-REE) mineralisation.

The company has also secured more than C$10m ($7.9m) by exercising share purchase warrants. With this funding it claims to be well-capitalised for future drilling at its co-flagship Russell Lake and Moore uranium projects next year.

Skyharbour Resources president and CEO Jordan Trimble said: “These new mineral claims complement our existing properties and provide additional ground to option or joint-venture out to new partner companies as a part of our prospect generator business.

“We continue to add to our uranium project portfolio in the Athabasca Basin with this recent staking while advancing our main projects through ongoing drilling and exploration.

“Skyharbour is fully funded for its drilling and exploration plans in 2024 with over $10 million in the treasury. Details are forthcoming on specific plans for drilling at Russell and Moore in the new year.”