Skyharbour’s Partner North Shore Uranium Completes Prospecting Program at the Falcon Project; Significant Radioactivity Discovered in Outcrops and Boulders

Core Insights - Skyharbour Resources Ltd. announced that its partner North Shore Uranium has completed a prospecting program at the Falcon Property in Saskatchewan, which may lead to significant uranium discoveries [1][5][20] Summary by Sections Partnership and Financials - North Shore can acquire an initial 80% interest in the Falcon Property by issuing shares valued at CAD $1,225,000, making cash payments of CAD $525,000, and incurring exploration expenditures of CAD $3,550,000 over three years [1][25] - After earning the initial 80% interest, North Shore can acquire the remaining 20% for an additional CAD $5,000,000 in shares and CAD $5,000,000 in cash [25][26] Prospecting Program - The prospecting program was conducted by Axiom Exploration Group, focusing on eighteen priority targets identified by North Shore's technical team [3] - Significant radioactivity was confirmed at targets FA020 (up to 20,000 cps) and FA025 (up to 27,000 cps), with several boulders showing elevated radioactivity [4][5] Target Areas and Findings - Three priority zones (Zones 1, 2, and 3) have been established at Falcon, with a total of 36 uranium targets identified based on electromagnetic conductor anomalies [6][21] - In Zone 1, drill holes P03 and P08 previously discovered uranium mineralization, with notable U3O8 values of 345 and 378 ppm [7] - Zone 2 includes target FA020, where grab samples returned up to 0.492% U3O8 and 1,300 ppm lead [12][21] - Zone 3's target FA025 has a complex EM response and historical samples indicating significant uranium presence [17][19] Future Plans - North Shore plans to integrate data from the prospecting program with EM conductor interpretations to prioritize targets for future drilling [20][23] - The Falcon Project consists of eleven mineral claims covering approximately 42,908 hectares, located about 50 km east of the Key Lake mine [21][28] Company Background - Skyharbour holds a diverse portfolio of uranium exploration projects in the Athabasca Basin, covering over 616,000 hectares [29] - The company has established partnerships and joint ventures with various industry players, enhancing its exploration capabilities [30][31]