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Skyharbour’s JV Partner Orano Commences 6-7,000m Summer Drilling Program at the Preston Uranium Project
Globenewswire· 2025-06-26 11:30
Core Viewpoint - Skyharbour Resources Ltd. announces the commencement of a large-scale diamond drilling program at the Preston Uranium Project, in partnership with Orano Canada Inc., aiming to explore high-priority uranium targets across the property [1][9]. Group 1: Drilling Program Details - The drilling program will involve approximately 6,000 to 7,000 metres of drilling during the summer of 2025, with up to 28 holes targeting depths between 200 to 350 metres [2][3]. - Key target areas include Johnson Lake, Canoe Lake, and FSAN, with specific strategies for each zone to assess uranium mineralization potential [5][7]. Group 2: Target Areas - **Johnson Lake (Zone 1)**: Planned drilling of 4 to 5 holes averaging 350 metres in depth, focusing on structurally complex intersections identified through previous surveys [3][4]. - **Canoe Lake (Zone 2)**: A total of 6 to 12 holes are planned, with depths of 200 metres, targeting nine conductive trends that remain largely untested [5][6]. - **FSAN Zone (Zone 3)**: This area will see the most extensive testing, with reconnaissance and direct targeting strategies planned for a total of approximately 1,400 to 2,800 metres of drilling [7][8]. Group 3: Previous Exploration Activities - The 2024 exploration program included a 35.6 km ground Moving-Loop Transient Electromagnetic (ML-TEM) survey and a ground gravity survey with 2,295 stations to prioritize drill targets [9][10]. - Historical exploration has established multiple high-priority drill target areas, supported by a comprehensive geological database [12]. Group 4: Joint Venture and Strategic Partnership - Skyharbour and Orano established a joint venture after Orano fulfilled its earn-in option, with Orano holding a 53.3% interest and Skyharbour holding 25.6% [13]. - The partnership aims to advance and develop the Preston Uranium Project, leveraging Orano's extensive experience in uranium exploration and production [18][19].