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2009 Broulan Reef deep drill program contact Don Huston, President at (604) 687 3376.
2009 Broulan Reef deep drill program contact Don Huston, President at (604) 687 3376.
Overview of the Red Lake Gold Camp
The Red Lake Area is one of the most prolific gold regions in the world. The area hosts several gold mines, where the combined production and remaining proven resources are more than 30 million ounces of gold. Initial gold production occurred at the Howey mine in 1930, and two mines (Campbell and Red Lake) remain in operation today. The largest mines historically are Placer Dome's Campbell Mine (cumulative production and remaining resources of 13 million ounces), Goldcorp's Red Lake (10 million ounces) and Madsen mines (2.5 million ounces). Goldcorp's Red Lake Mine lies immediately adjacent to Placer's Campbell Mine, which Goldcorp acquired in 2006. The deposits that were mined by Placer and Goldcorp were interpreted to be portions of the same ore body. However, the deep high-grade zone of the Red Lake Mine continues to be one of the highest-grade deposits in the world, averaging more than 2.0 ounces of gold per ton.
As a result of the proven potential of this gold camp and the continued excitement being generated by Goldcorp's Red Lake Mine, the Red Lake greenstone belt has attracted many firms, from senior producers to junior exploration companies, to stake and explore the district. Active major companies in Red Lake include Goldcorp, Placer Dome and Newmont. In addition, there are many junior exploration companies actively exploring the camp. The Red Lake gold district is situated in the Red Lake greenstone belt, an Achaean series of metavolcanic and metasedimentary rocks. Most of the gold production in this district has come from structurally controlled vein-type gold deposits hosted in sequences of ultramafic mafic to felsic volcanics and sediments. Regionally, the belt exhibits a system of five northeast and northwest-trending deformation zones with associated hydrothermal alteration. All of the key producers in the district are located close to a regional mafic volcanic-sediment contact or 'break' - which for years may have been overlooked as an important control on gold mineralization. Gold deposits in the district have been classified into three main categories: mafic volcanic-hosted; felsic intrusive-hosted; and, stratabound. The majority of the productive zones in the Red Lake camp, including the Campbell and Red Lake Mines, are of the mafic volcanic-hosted type and occur as vein systems within a lower mafic to komatiitic and ultramafic volcanic sequence. Goldcorp's Red Lake Mine lies in the eastern section of the Red Lake Precambrian Greenstone Belt, an older assemblage of mafic and felsic volcanic rocks within a sedimentary sequence. Major gold camps in the Timmins and Kirkland Lake areas of northeastern Ontario also show a close association with similar breaks. The Campbell, Red Lake and Cochenour Mines, the most prolific gold producers in the Red Lake district, are hosted by the northwest-trending Cochenour-Gullrock Deformation Zone and are situated within the well-established "mine trend" of the Red Lake gold district. Skyharbour Resources Ltd. has acquired over 21,000 acres (6 properties) in the heart of the Red Lake gold camp, home to the prolific Goldcorp Red Lake and Campbell gold mines.
BAIRD GOLD PROPERTY (240 acres)Skyharbour Resources Ltd. has a 24.5% interest in the Baird Property with Bayfield Ventures Corp. (24.5%) interest, and Goldcorp Inc. now owns the remaining (51%) interest. The Baird property lies in the central Red Lake gold belt, adjacent to the Claude Resources property on the south, adjacent to the Goldcorp Parvus Project on the north and east, and adjacent to Goldcorp's Humlin property on the west. The Baird property is 6 kilometres north of the Madsen Mine, and 14 kilometres southwest of the Goldcorp Red Lake Mine.The property lies within the highly prospective Balmer assemblage volcanic rocks and exhibits structural and alteration systems typical of the Goldcorp Red Lake and Campbell mines. Drilling in the 1980's by United Reef on Baird returned assay values of over 5.5 oz/ton gold over 4 feet, and over 0.6 oz/ton gold over 6 feet, among others. These showings were the focus of Skyharbour's initial drill program. The intent was to gain a greater understanding of the geologic setting where these historical grades were present. Skyharbour completed a 1,600 metre drill program on the Baird Property in the summer of 2002 with gold intersections of up to 0.34 oz per ton gold over 1.0 meter encountered in what is known as the North Shear Zone. The 2002 drill program also identified a potential South Shear Zone. The results from Skyharbour's 2002 drill program were the catalyst needed to convince Placer Dome to option the Baird Property and initiate a major drill program. Placer Dome funded 7,043 metres of drilling in 3 drill programs, which has identified a large fold structure which contains the shear zones in it. The goal of this extensive drill program was to identify and confirm the existence of this major structural hinge (fold) feature that contained within it the North Shear Zone and the South Shear Zone. A Structure of this type is of major significance to the discovery of gold in the Red Lake camp. Placer Dome earned their 51% interest in the property, which Goldcorp acquired and became the operator. The 3 drill programs were carried out with the guidance and assistance of Placer Dome, which operated the high-grade Campbell Gold Mine in Red Lake. For a three year period following the formation of this 51% / 49% (Skyharbour / Bayfield) joint venture, Goldcorp will have the right to increase its interest to 65% by electing to complete a feasibility study. Should either party elect not to participate in an approved program following the formation of the joint venture, the interest of the non-participating party will be subject to dilution based on a standard formula. Should either party dilute to a 10% interest, its interest will automatically convert to a 1% NSR, half of which can be purchased at any time for $1 million. BROULAN REEF GOLD PROJECT (400 acres)
) Click to Enlarge The Broulan Reef Property Skyharbour Resources Ltd. holds a 17.5% interest in the Broulan Reef property (claims # KRL41961 to KRL 41970) located in the heart of the Red Lake gold camp in northwestern Ontario. The Broulan Reef property joint venture ownership consists of Cypress Development Corp. (TSX.V: CYP) having an 82.5% interest and Skyharbour Resources owning the remaining 17.5% interest.
The Broulan Reef property is comprised of 10 mineral claims situated adjacent to the south of Goldcorp's Couchenour / Bruce Channel Deposit (BCD). The property is 5 miles due west of Goldcorp's (TSX: G) operating Red Lake and Campbell gold mines.
) Click to Enlarge The Broulan Reef Property Location and the Adjacent Bruce Channel Discovery Two of the main gold producing trends in Red Lake converge on the Broulan Reef property as identified by ground magnetic surveys. The property is located at the southern extent of the East Bay Deformation zone and at the west end of the Mine Trend Deformation zone that is host to the Goldcorp Red Lake Mine and Campbell Mine. The resulting structural complexities are likely to have produced numerous favorable depositional settings in this "gold prone" section of the Red Lake belt. The property also lies at the apex of a regional nose fold in the Bruce Channel sediments. Both the Cochenour / Bruce Channel Deposit (Goldcorp) adjacent to the north and the Premier Gold Mines (TSX: PG) project located to the east have had significant discoveries made since 2005 in sedimentary rocks of the Bruce Channel and are the subject of ongoing exploration and delineation drilling.
The Bruce Channel deposit, located on Golcorp's Gold Eagle property, is situated along the prolific Red Lake Trend and is adjacent to the north of the Broulan Reef. The BCD is immediately southwest of Goldcorp's past-producing Cochenour-Willans Mine which produced approximately 1.2 million ounces of gold from 2 million tonnes of ore at a recovered grade of 18.5 grams gold per tonne. Gold Eagle Mines Ltd. did over 85,000 metres of diamond drilling on the Bruce Channel deposit. The deposit is located approximately 800 metres beneath the shallow Bruce Channel waterway that separates McKenzie Island from the mainland. The current "footprint" of the BCD mineralized envelope is 1.45 kilometres vertically and horizontally, approximately 800 metres in a NE-SW direction and 450 metres in a NW-SE direction. Based on the exploration work done to date, there is an estimated 8-13 million ounces grading 0.3 to 0.5 ounces per tonne gold in the Bruce Channel deposit and the mineralized envelope remains open in all directions. In September of 2008, Goldcorp Inc. announced it acquired Gold Eagle Mines Ltd. valued at approximately $1.3 billion. Under the Plan of Arrangement, shareholders of Gold Eagle received at their election and subject to proration either C$13.60 in cash or 0.292 of a share of Goldcorp or any combination thereof, for each Gold Eagle share they held. Gold Eagle's principal asset was the Bruce Channel gold deposit. The Bruce Channel deposit is currently being prepared by Goldcorp for development through the Cochenour mine shaft and a high speed tram to the main milling complex in Balmertown. The Broulan Reef project got going from a standing start with the belief that the trend of the Bruce Channel gold deposit would extend onto the Broulan Reef property at some depth. With 95% of the Broulan Reef property covered by the shallow waters of the Bruce Channel and no outcropping of Balmer aged rocks, the initial deep drilling was based on the belief and hope that Balmer aged rock would exist below a sequence of sediments of Confederation age and that they could contain gold. The presence of Balmer aged rock underlying the entire property was demonstrated early on. It was further established that not only did the target occur within Balmer aged rocks but that it was below a prominent shallow dipping thrust and was within the footwall of a north-south striking shear structure.
The Broulan Reef property has never had any detailed exploration conducted on it prior to Skyharbour Resources and Cypress Development acquiring the ground in January of 2006. Skyharbour has been aggressive in its exploration approach to the Broulan Reef project and believes the property, adjacent to and on strike to the major Bruce Channel gold deposit, is ideally located for the potential extension of this newly developed gold zone onto its Broulan Reef ground. In April of 2006, Skyharbour announced its Phase 1 exploration program on its Broulan Reef property had been completed and results to date were highly encouraging. A structural / lithological framework was clearly identified from the ground magnetic data and a preliminary geological model emerged from the shallow diamond drilling.
Skyharbour Resources' Phase 2 drill program commenced in the summer of 2006 and consisted of two approximately 1,500 metre (5,000 feet) holes drilled deeper into the regional fold closures of the Bruce Channel sedimentary horizons. This drill program identified a relatively shallow dip to the underlying Balmer Assemblage rocks and established that targets within the Balmer Assemblage rocks are within drill range. The Balmer Assemblage refers to the oldest rocks in the Uchi sub-province and "consists of basaltic tholeiite and komatiite flows with intercalated magnetite-quartz iron formation." Low but widespread gold values were identified within structural features in the Bruce Channel rocks which are located above the prospective Balmer Assemblage rocks. A number of scattered short intercepts of between 0.2 and 2.35 grams per tonne gold were encountered in both holes including 0.45 grams per tonne between 1,256 and 1,269 metres in one of the holes. The information gained from the 2006 Phase 2 drill program has been critical in evaluating deeper targets within favorable Balmer Assemblage rocks. Identified targets have structural links to gold bearing zones reported from Balmer Assemblage rocks immediately north on the Gold Eagle Mines property (Goldcorp).
With the drilling to date having encountered numerous gold bearing zones and with the ideal geological location of the property, there was significant potential that warranted a deeper 2008 Phase 3 diamond drill program. The 2008 / 2009 Skyharbour Phase 3 deeper drill program, consisting of 2500+ metre holes, was first collared on Goldcorp's land to the east of the Broulan Reef property and was drilled out underneath the shallow waters of the Bruce Channel. This first deep drill hole consisted of a mother hole (BR08-3C) and two daughter or wedge holes (BR08-3D and BR08-3E) which are off-shoots from the mother hole.
In April of 2009, a new zone was intersected in the first wedge hole (BR08-3D) as it approached the north boundary of the Broulan Reef property. Skyharbour believes this is part of the north-south trending system that extends 2.5 kilometres from the Cochenour mine and includes the Bruce Channel deposit and the Finn gold zone. The zone is very strong and distinct where intersected, and it consists of 14.2 metres (core length) of near solid quartz veining and an additional 27.5 metres (core length) of sheared and altered felsic porphyries. Visible gold was noted in this latter unit.
The most significant feature controlling gold mineralization in the Cochenour / Bruce Channel area of Red Lake is a shallow dipping thrust fault within the mafic / ultramafic volcanic rocks of the Balmer Assemblage. This fault strikes roughly east west and dips at 48 degrees to the southwest. It is known to be folded and faulted, is generally marked by silicification and has been intruded and flanked by a rhyolite dike. The thrust, accompanying alteration and rhyolite dike is referred to as the "thrust package". All significant gold found to date in the Cochenour / Bruce Channel area occurs immediately below this thrust package. The thrust package could be viewed as "trap rock" that has confined fluids below it. These fluids have severely altered the rock and resulted in gold being deposited along the footwall of the thrust package. On the second wedge hole (BR08-3E) a zone from 2177.8 metres to 2181.9 metres returned 2.47 grams per tonne gold over 4.1 metres. This zone lies above the thrust package. A second zone from 2660 metres to 2661 metres returned 2.62 grams per tonne gold over 1 metre within a large zone of anomalous gold values from 2637 metres to 2665 metres. This second zone lies within the thrust package.
Location of 2009 It has recently been ascertained that the thrust package occurs at shallower depths on the western part of the Broulan Reef property. By drilling from west to east it will allow more of the hole to test the stratigraphy immediately under the thrust package. In May of 2009, Skyharbour started Drill Hole BR09-1 from west to east from McKenzie Island and was designed to intersect the north-south shear/ breccia at nearly right angles. The location and dip of the hole was also designed to intersect the prospective north-south shear / breccia system below projections of the thrust package. The hole did exactly as planned and encountered the north-south shear / breccia at 2430 metres. The hole was still in the shear breccia system when technical difficulties forced the stoppage of drilling. Anomalous to highly anomalous (100 to 1000 ppb) gold values were continuous in the last 10 metres of the hole between 2776 and 2786 meters.
Cross Section of Broulan Reef Drill hole BR09-1 demonstrates that the north-south shear / breccia system has a strike length in excess of 2.5 kilometres and continues in size and strength well onto the Broulan Reef property. In December 2009, Skyharbour started a new mother hole, BR09-2, from McKenzie Island. Upon completion of the hole to 2937 metres, gold values were intersected on strike and in the same structure that hosts the Bruce Channel gold deposit. An 18 metre interval was encountered between 2809 metres and 2827 metres grading 1.62 grams per tonne gold including 2.5 grams per tonne gold over 9 metres and 5.04 grams per tonne gold over 2 metres. Although the gold bearing zone was truncated by a 34 metre section of core containing a late mafic dike, the values are typical of many zones intersected in the Bruce Channel gold deposit. They are likely within an envelope surrounding such a deposit and convincingly demonstrate continuity of the mineralized system on the Broulan Reef property with plenty of room for expansion.
Skyharbour proceeded to drill two wedge holes, BR09-02-1 and BR09-02-2, both from the McKenzie Island mother hole BR09-02 in order to explore the Balmer formation and North-South Shear carbonate breccia zone to the north of the mother hole. Hole BR09-02-1 was commenced as a wedge from the mother hole in April, 2010 and ended when the drilling rods became stuck in strongly ultramafic rocks at 2703 metres. The hole entered the North-South Shear carbonate breccia zone at 2678 metres. Strongly altered Balmer formation basaltic rocks were intercepted from 2682 metres to 2700 metres. At 2700 metres, the hole intercepted the top of a highly foliated, ultramafic rock and became stuck in the soapy ultramafic at 2703 metres. A zone of gold mineralization was intercepted in BR09-02-1 within strongly magnetite altered Balmer basalts from 2497 metres to 2500 metres. This zone returned gold assays totaling 3 metres of 2.04 grams per tonne. Hole BR09-02-2 was commenced as a wedge from the mother hole in June, 2010. The hole was drilled to a depth of 2879 metres when completed in mid July 2010. The hole entered the North-South Shear carbonate breccia zone at 2666 metres. The carbonate breccia continued to 2681 metres where a complex sequence of highly foliated ultramafic rocks, intensely altered and sulfide mineralized Balmer basalts and numerous mafic dikes was entered. This zone of very favourable geology continued to a depth of 2839 metres. From 2839 metres to the end of the hole at 2879 metres, a sequence of massive to porphyritic, mafic rocks interpreted to represent the footwall of the North-South Shear structure was drilled. Numerous zones of highly anomalous gold mineralization were intercepted in hole BR09-02-2 from 2500 metres to hole end at 2879 metres. The gold assays in the anomalous portions of the 379 metre zone are in the 150 ppb to 700 ppb range. Wedge holes BR09-02-1 and BR09-02-2 were designed to test the footwall of the North-South Shear carbonate breccia in a position north of and higher up dip from the mineralized carbonate breccia zone in the mother hole BR09-02. Only hole BR09-02-2 was successful in testing the target zone as BR09-02-1 became struck in foliated ultramafic rocks short of the target. The distance between mother hole BR09-02 and wedge hole BR09-02-2 in the footwall zone of interest was less than 50 metres, as planned. Comparison of the geologic and assay results of wedge hole BR09-02-2 and mother hole BR09-02 show significant differences over a 30 to 50 metre separation of the holes in the target zone. Hole BR09-02 intersected intervals of massive carbonate veining and vein breccia from 2664 metres to 2828 metres, a downhole interval of 164 metres. The reported gold mineralization in BR09-02 occurred in the last interval carbonate breccia from 2817 metres to 2828 metres. This mineralized zone contained locally abundant very grained grey sulfides. Wedge hole BR09-02-2, in contrast, intercepted carbonate massive veining and vein breccia from 2666 metres to 2681 metres down hole. This is a 15 metre interval compared to the 164 metre in mother hole BR09-02. The long interval of locally abundant intervals of massive carbonate veining and vein breccia in hole BR09-02 is represented by the complex sequence of highly foliated ultramafic rocks, intensely altered (biotite and silica) and sulfide mineralized Balmer basalts and numerous mafic dikes in BR09-02-2. These materially different results over fairly short distance between holes are not uncommon within Archean lode gold deposits. Complex geology is the norm within district to regional scale structural zones which host this type of gold deposits, including the Bruce Channel gold deposit immediately north of the Broulan Reef property. Skyharbour is well along in a process of critically examining all project data with the goal of indentifying additional targets for gold mineralization both within the north central Broulan Reef property and within the eastern portion along structural strike from the ongoing exploration by Premier Gold. The Company is very encouraged with the prospects of the Broulan Reef property and are reviewing all options available in order to move the Broulan Reef Property forward.
The Red Lake gold camp is full of surprises as is illustrated by the Goldcorp acquisition of the Red Lake Mine in 1995 and by Gold Eagles' world class Bruce Channel discovery. The exploration activities of Skyharbour Resources in the Red Lake area has gotten some real "traction" with the acquisition of the Broulan Reef property and the type of targets that have been developed.
McKENZIE ISLAND GOLD PROPERTY (5100 acres)
Skyharbour Resources Ltd. has a 20% interest in the 5,100-acre McKenzie Island Property with Cypress Development Corp. (80%). This property is located to the west and adjacent to Goldcorp's Cochenour / Bruce Channel Deposit. The McKenzie Island property is also on strike with the Goldcorp (TSX: G) Red Lake and Campbell mines seven kilometres to the east.
In addition to the Bruce Channel deposit, the Western Discovery Zone is yet another gold zone that has been found on Goldcorp's Gold Eagle property and is located on the western side of the property close to Skyharbour's McKenzie Island project. This zone has a strike length of over 1 kilometre in an east--west direction and has a width of 350 metres from north to south. The Cypress Development / Skyharbour Resources joint venture is of the opinion that there is potential for the extension of the Western Discovery Zone onto the McKenzie Island property.
Broulan Reef Properties to Gold Eagle Mines Project ) Click to Enlarge Past Exploration and Drilling Completed on the McKenzie Island Property An initial exploration program was completed on the property in 2002 by Skyharbour. This program consisted of data compilation, mapping, and geochemical and geophysical testing. This identified the highly prospective McAndrew gold / alteration trend extending across the centre of Skyharbour's McKenzie Island property - a comparable geological environment to the McKenzie Island Mine which historically produced 650,000 ounces of gold. As a result of this initial exploration phase, a first phase of drilling consisting of 13 holes totaling 6,828 feet (2,100 metres) to test targets identified during the 2002 exploration program was completed. In addition, overburden drilling totaling 2,990 feet tested the basal till at 133 sites in two areas on the property to identify new targets. Gold values were encountered along the McAndrew Trend on McKenzie Island as well as along the contact between the volcanics and sediments on the north part of McKenzie Island. In May of 2004, the Company added an integral claim block to its existing land package. This acreage is situated in the middle of the held ground and now allows the Company to continue to follow another mile strike length of the known McAndrew geological trend. In early 2005, 14 reconnaissance holes (approximately 3,300 metres) were also completed during Phase I and Phase II (February and April of 2005) diamond drill programs on the St. Paul's Bay region on the southern most portion of the McKenzie Island property to explore a district-scale W--NW trending structure known as the "D2" Structure. Significant zones of gold mineralization were discovered. The new zones were located in diamond drill holes M05-3 through to M05-7. In reconnaissance drill hole M05-3, visible gold was identified within several centimetre-scale quartz veinlets with sample results showing numerous multi-gram intercepts with a high value of 23.8 grams per tonne gold over 0.2 metres. In reconnaissance drill hole M05-4, highly anomalous gold values up to 850 ppb were intercepted over 60 metres. In reconnaissance drill hole M05-7, a 10-metre wide zone of gold mineralization was intersected in a zone hosted by quartz-sulfide veining and silica flooding within a strongly sericite altered felsic intrusive.  All of the intercepted zones of gold mineralization lie within a large (1000+ metres by 150+ metres) envelope of quartz-sericite-chlorite alteration, which appears to be controlled by a district-scale, W--NW trending D2 deformation zone. The strike length of the altered system has not been limited by the 2005 drill programs. The Company is encouraged with the results of the 2005 Phase I & II drill programs on the south portion of its McKenzie Island property. Drill testing of 2 prospective target areas on the eastern portion of the Skyharbour's McKenzie Island claim group, adjacent to Goldcorp's Gold Eagle property, were completed in the winter of 2006. Three diamond drill holes were completed in areas where a significant angular unconformity has been projected. This unconformity appears to exert a strong regional influence on gold deposition including past gold produced from the McKenzie Red Lake Gold Mine and the Gold Eagle Mine east of the Skyharbour's property. The geologic corridor flanking this known unconformity is considered to be very prospective for gold deposition in the Red Lake gold camp. Skyharbour Resources remains convinced that there continues to be significant potential for the development of gold deposits on its McKenzie Island and Broulan Reef properties. SIDACE LAKE GOLD PROPERTY (1280 acres) Skyharbour Resources Ltd. has a 70% interest in the Sidace Lake Property. Joint venture ownership consists of Skyharbour having an 70% interest and Aben Resources Ltd. (TSX.V: ABN) owning the remaining 30% interest. Skyharbour's Sidace Lake property consists of 2 claim blocks (32 units). These claims are situated on approximately 1280 acres. These two large claim blocks are to the southwest and northeast, respectively, of Planet Explorations' discovery zone that is currently under option to Goldcorp. They are located to the northeast of East Bay where Wolfden is drilling on its East Bay Property. Recent discovery holes by Planet have focused intense scrutiny on this area. Skyharbour believes that the Planet discovery attests to a potential large mineralizing system with affinities to other similar deposit types in the Canadian Achaean, including the giant Hemlo deposit in Northwest, Ontario. The location of Skyharbour's properties lay on strike with the structural features that are known to run through this new discovery zone. To date, Skyharbour has added several more claim blocks to this land package and has completed an initial phase of exploration. This included mapping/prospecting, soil sampling, till sampling, overburden drilling, and interpretation of existing geophysics. A 2004 winter drill program consisting of 4,750 feet has also been completed. This was successful in establishing a trend of mafic volcanics on to the east side of the Sidace Lake property. The identification of this mafic volcanic suite of rock type is significant, as these mafic volcanics are believed to be the strike extension of the geological sequence hosting the gold discovery on the adjoining Goldcorp/Planet Exploration property to the west. Skyharbour completed a Phase 2 drill program on its Sidace Lake property in the fall of 2004.
HEYSON GOLD PROPERTY (7000 acres) Click to Enlarge Skyharbour Resources Ltd. has earned a 50% interest in the Heyson Property with MPH Ventures Corp. holding (50%). The property lies in the southern portion of the central Red Lake gold belt, 5 km south of the Goldcorp's Red Lake and Campbell gold mines. Prior to Skyharbour optioning the property there was very little reliable historical information available on the property. Whatever was available was difficult to substantiate. It was decided that a property scale till sampling survey should be undertaken to identify areas on the property that might host significant gold deposits. The Company identified a large, well-defined "gold-in-till" anomaly (Sully Creek Till Anomaly) on the property. The head of the anomaly covers a width of 350 meters along a strike length of 1.5 km. Sampling indicates the source of the gold-in-till anomaly is on the property. The probable source area is low ground covered by tills and capped by lacustrine clays rendering most conventional surface exploration techniques ineffective.
A 17-hole reconnaissance drill program has been completed on the Heyson Property. This drill program was to test the Sully Creek Till Anomaly by identifying structural controls and geology that may be attributable to the source of the anomaly. This drill program proved to be very successful. Skyharbour intersected zones of gold mineralization while drilling the eastern half the till anomaly. Hole 3 encountered a high-grade gold intercept (visible gold) of 59.4 g/t over 0.4 metres. This intercept occurs in veining in a highly altered zone of fracturing and brecciation in the upper part of a shallow dipping diorite body. The alteration is approximately 15 metres thick. Hole 4 intersected 45 metres of 3% disseminated sulphides in felsic volcanics with elevated gold values throughout. Holes 3 and 4 are on strike and 700 metres apart. Although this discovery was found in an alteration not typically associated with deposits in the Red Lake camp, the alteration assemblage is typical of a number of gold mines in the Canadian Achaean. This discovery is the result of the rigorous application, by Skyharbour, of an exploration model as opposed to a geologic model. Not only has Skyharbour found a new system in the region but we now know there is gold in the system. As a result of the 2004 exploration drill program conducted on the property and data compilation of these results, a significant budget of continued exploration is recommended on the Heyson Project. A budget consisting of primarily diamond drilling would be undertaken to explore the full extent of the newly discovered distinct hematite-epidote alteration system that contains a very large "gold in till" anomaly on the property. The scale of this alteration has only been partially defined but is believed sufficient in size and character to have the potential to host significant deposit scale gold mineralization. This alteration is now known to extend along a strike length of a least 1 kilometre and affect a section of rock of up to 100 metres thick. Only a small part of the Heyson property has been explored to date. Skyharbour Resources remains optimistic that a 2,500 - 3,000 metres drill program could greatly enhance the value of the Heyson Property.
BADROCK LAKE IRON/ZINC/COPPER PROJECT (4,480 acres)On January 19th 2007, the Company announced the 100% acquisition (by staking) of 4,480 acres, consisting of 112 claim units, in the Badrock Lake Area, Red Lake Mining Division, Northwestern Ontario.
 Click to Enlarge A previous airborne geophysical survey has outlined a large area containing magnetic anomalies containing iron bearing magnetite. There are at least four conductive anomalies identified with a strike length of at least one mile each. The Company is preparing a geological report and an exploration budget for the Badrock Lake claims For a spring/summer initial exploration program. |
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