Skyharbour Resources Ltd. (TSXV: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) partner company North Shore Uranium (TSXV: NSU) finished its maiden drill program at the Falcon Property in the eastern Athabasca Basin in northern Saskatchewan.
The program consisted of three targets drilled along a dominantly northeast-trending electromagnetic conductor system. Skyharbour announced on Friday that the drill campaign intersected sub-vertical EM conductors at positions P03 and P08. Meanwhile, at P12, the company stopped drilling because it reached the end of the conductor depth.
Additionally, the elevated total count gamma probe readings found high radioactivity at targets P03 and P08, peaking at 2695 counts per second (cps) at P03.
The company also brought out Maxwell EMIT software to model three-dimensional plate models of the EM conductor systems. The models intersected the targeted conductors close to the depths predicted, specifically at P03 and P08.
The next steps involve associating fault zones and alteration similar to those encountered at P03 and P08 with basement-hosted uranium mineralization.
The analytical results will be integrated with the drill hole data to help guide future work on these targets. Additionally, the company believes that P12 holds potential for exploration despite that it had to stop drilling. It remains untested and requires drilling to reach the targeted EM conductor depth.
“The initial results from our maiden drill program are encouraging and confirm the presence of sub-vertical basement structures with associated radioactivity, graphite and alteration at P03 and P08,” said Brooke Clements, president and CEO of North Shore.
Furthermore, numerous high-priority untested targets on the property show potential for basement-hosted uranium mineralization. The company will continue to prioritize these targets for future field evaluation.
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The Falcon Property in 50 KM east of the Key Lake mine
The Falcon Property, a portion of North Shore’s larger Falcon Property, encompasses eleven mineral claims totalling approximately 42,908 hectares. It is situated roughly 50 km east of the Key Lake mine. Nine of these claims originate from Skyharbour’s original South Falcon Uranium Project, while the remaining two claims stem from Skyharbour’s Foster River Project.
Skyharbour conducted an airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the Falcon Property in 2022. This newly acquired geophysical data will help North Shore prioritize areas along the EM conductor system for drilling.
Over 30 kilometers of the EM conductor system remain untested on the Falcon Property. However, North Shore will initially focus on the two claims formerly part of the Foster Project.
North Shore isn’t the only company doing widespread exploration in 2024 in the basin.
For example, ATHA Energy Corp. (TSXV: SASK) (OTCQB: SASKF) (FRA: X5U) is planning to advance and develop nine of its wholly-owned high-priority projects within its four Athabasca Exploration Districts.
The company’s 2024 Athabasca Basin Exploration Program builds upon the results from the maiden 2023 campaign, which completed 17 EM surveys within ATHA’s 3.8 million acres of mineral claims in the Athabasca Basin.
The objective of the 2024 Exploration program is to further mature nine high-priority project areas using Airborne and Ground geophysical surveys.
The 2024 Athabasca Basin Exploration Program is currently underway and scheduled to continue through to the end of Q3 2024. The program will deploy seven different airborne and ground survey types, including EM, Mag, Gravity, and ANT. Its objective is to further delineate and refine prospective trends and corridors within Atha’s high-priority project areas in advance of drill testing.
ATHA Energy Corp. is a sponsor of Mugglehead news coverage