공시 • Mar 11
Skyharbour Resources Ltd. Announces Winter Drill Program At Wheeler North Joint Venture
Skyharbour Resources Ltd. announced that its joint venture partner, Denison Mines Corp., has commenced the 2026 winter exploration program at the newly formed Wheeler North Joint Venture, formerly part of the Russell Lake property in the eastern Athabasca Basin of northern Saskatchewan. This winter phase of work will consist of approximately 2,500 metres of diamond drilling at the Fox Lake Trail target and represents the first phase of a planned 7,500 metre drill campaign in 2026 across the high-priority Fox Lake Trail, Fork and Sphinx target areas. The 2026 drilling at Wheeler North is operated and fully funded by Denison pursuant to the strategic joint venture agreement announced on November 17th, 2025. An additional 5,000 metres of drilling at the Wheeler North property’s Fork and Sphinx target areas is planned for later in the year, intending to follow up on drilling from the last few years which discovered prospective structures and uranium mineralization at these targets. Wheeler North comprises 16,409 hectares over eight claims located immediately adjacent to Denison’s Wheeler River Project and hosts multiple high-priority drill targets along prospective conductive corridors. Ownership at the property is currently 51% Skyharbour and 49% Denison, with Denison serving as operator and holding earn-in rights to increase its interest to up to 70% in two phases. To reach 60%, Denison must complete CAD 10 million in exploration within 48 months (including CAD 2.5 million within the first 24 months) and make a CAD 1.5 million cash payment to Skyharbour. To increase from 60% to 70%, Denison must complete an additional CAD 15 million in exploration and make a further CAD 2 million payment within seven years of closing. Denison is planning an exploration program consisting of approximately 13 diamond drill holes totalling approximately 7,500 metres in 2026 and will focus on three priority target areas: Fox Lake Trail, Fork and Sphinx. Fox Lake Trail is located at the northern end of the Wheeler North property and is characterized by multiple parallel EM conductors refined through modern ground geophysical surveys completed in 2025. Recent drilling upgraded the structural interpretation of the area, intersecting strong hydrothermal alteration in both sandstone and basement, along with localized basement-hosted uranium mineralization and highly elevated boron geochemistry. Several conductive trends at Fox Lake Trail remain virtually untested along strike, and the current winter drilling program is designed to systematically evaluate these priority structural targets. The Fork Zone represents a northeast–southwest trending structural corridor sub-parallel to the historical Grayling Zone and hosts the highest-grade uranium mineralization discovered to date on the broader Russell Lake project. Previously reported discovery hole RSL24-02 intersected 3.0% U3O8 over 0.5 metres at the unconformity, establishing Fork as a structurally controlled, high-grade uranium target. Subsequent drilling confirmed mineralization continuity along and across strike and identified a broad corridor of intense sandstone and basement alteration extending north of the discovery area. Ground EM surveys have delineated four sub-parallel conductive trends at Fork, most of which remain largely untested. The 2026 program will test this expanding structural corridor to further evaluate its mineralization potential. The Sphinx target lies approximately one kilometre southeast of Denison’s Phoenix uranium deposit and represents a newly defined ground EM conductor within a reactivated structural corridor. Initial drilling in 2025 confirmed the presence of a faulted and altered graphitic basement structure below the unconformity, validating the EM anomaly and demonstrating a prospective structural setting. The projected unconformity intersection of this structure is considered a priority follow-up target. With only one drill hole completed to date at the target, Sphinx remains largely untested and represents a compelling exploration opportunity adjacent to one of the highest-grade uranium deposits in the Athabasca Basin. Collectively the RL, Wheeler North, Getty East, and Wheeler River Inliers joint ventures encompass a large, advanced-stage uranium exploration land package totalling 73,314 hectares in the eastern Athabasca Basin of northern Saskatchewan. The properties are strategically positioned between Cameco’s Key Lake and McArthur River operations and immediately east of Denison’s Wheeler River Project. Following the completion of a major strategic transaction with Denison in 2025, the former Russell Lake project was restructured into four separate joint venture uranium properties: RL, Wheeler North, Getty East, and Wheeler River Inliers. Each property is subject to its own joint venture agreement with operatorship dividend between the partners. Skyharbour is the operator at RL and Getty East, and Denison is the operator at Wheeler North and the Wheeler River Inliers. In aggregate, the strategic transaction included total project consideration of up to CAD 61.5 million with Skyharbour retaining an 80% interest at RL while Denison can earn up-to 70% at each of the other properties. The joint ventures benefit from excellent regional infrastructure, with the northern extension of Highway 914 traversing the western portion of the land package and a high-voltage provincial powerline running parallel to the road. Across the joint ventures, there are numerous high-priority exploration targets including the Grayling, Fork, Little Mann Lake, Christie Lake, Fox Lake Trail, Sphinx, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Zones. In addition, more than 35 kilometres of largely untested prospective electromagnetic conductors occur across the joint venture properties, highlighting the substantial discovery potential. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour, as well as a Qualified Person.