Proactive Investors - Skyharbour Resources Ltd (TSX-V:SYH, OTCQB:SYHBF), a Vancouver-based uranium explorer and developer, is working to progress its portfolio of 29 projects across 1.45 million acres in the uranium-rich Athabasca (TSX:ATH) Basin in Saskatchewan.
Investor relations manager Nick Coltura joined Proactive on the floor at this year’s PDAC event to discuss recent developments from across its significant land package in the Basin.
Proactive: So how are things going for you so far at PDAC?
NC: It's great, honestly, really good. There has been a lot of foot traffic at the booth, which is always nice. And it's always nice to connect with the guys here in Toronto that we don't normally get to meet. So, it's great being here.
You're a Vancouver-based uranium company. Tell us a little bit about the company.
We're a high-grade uranium exploration and early-stage development company. We have projects ranging from more advanced stage exploration assets, which include our Russell and Moore Lake projects, all the way to more earlier stage exploration assets, which comprise our prospect generator business. So, we actually now have 29 projects covering over 1.45 million acres of land in the Athabasca Basin. That actually makes us one of the third-largest landholders in the area. So, lots going on, lots of projects. We're drilling out our two core assets of Russell and Moore Lake. And then we also have seven partner companies advancing our seven secondary assets where we will be doing drilling as well.
That's an interesting model. You've got your core assets and then you're also optioning out other projects to your partners.
We have three formal joint ventures (JVs) and four active or in-option partners. Our joint ventures are with Azincourt Energy (TSX-V:AAZ) at our East Preston project, Orano Canada at our Preston project, and more recently, Valor Resources at our Hook Lake project. And then we have four active or in-option partners that are still earning into their projects.
Is there anything else that you wanted to add? What else is in store for 2024?
We're actually drilling right now at our two core projects. We're doing 5,000 metres of drilling at Russell Lake, and also doing 3,000 metres of drilling at Moore Lake, so it's going to be a lot of new data coming from those two projects. And then after that program is done at Russell and Moore, we're going to be doing an additional 8,000 to 10,000 metres of drilling as well. So in total, for us at our core projects, we'll be doing 15,000 to 20,000 metres of drilling. At our partner companies, look for some more news in regards to drilling and exploration from them. And also some potential new JVs and option partners coming into the business.
Is this all working towards a resource estimate?
Yes, that's right. At our Moore Lake project, one of our most advanced stage exploration assets, look for an NI 43-101 mineral resource estimate hopefully coming out in Q2 of 2024.
Quotes have been edited for clarity and style