Skyharbour Resources, a junior explorer in the Athabasca Basin, just recently announced additional property staking in Saskatchewan. This news of potential uranium exploration possibilities have caused an exciting buzz in the market, and has given rise to speculation about what potential benefits the company will experience.
The Athabasca Basin is an area of roughly 100,000 square kilometers in the province of Saskatchewan. It is the largest sedimentary basin in Canada, and is thought to contain some of the world’s largest uranium deposits. For the past few years, Skyharbour has been actively staking and actively exploring various properties in the region, and their latest announcement adds to their expanding portfolio in the area.
The newly-staked land includes two separate properties, codenamed the “Moore Lake” and “Strelley” properties. Approximately 8,924 hectares were added to Skyharbour’s land package in the region, giving them a total of 144,092 hectares. This substantial size reflects the potential prosperity the company hopes to gain from their uranium exploration efforts.
Over the last several years, Skyharbour Resources has been experiencing success in their various uranium exploration and development efforts. Last year the company had a few notable achievements such as a strategic partnership with Azincourt Uranium, the announcement of a new drill program, and an exploration agreement with Orano Canada Inc. With these new property stakings, the company is certainly looking to capitalize on these developments.
Skyharbour’s plan for the foreseeable future looks to involve staking at various locations in the Athabasca Basin and undertaking elaborate drill programs. After performing these drills, the company can then evaluate what type of potential uranium reserves may be present and where.
Skyharbour’s latest move in the opposite is indicative of the company’s ambition for continued expansion in the region. The prospective additions made to their portfolio in the region could lead to fruitful journey should they strike it lucky with their explorations. Even with the market’s uncertainty, Skyharbour’s announcement remains a significant one that will be of interest to many investors in the uranium sector.
