10:59 AM EDT, 07/09/2024 (MT Newswires) -- Skyharbour Resources ( SYHBF ) was at last look on Tuesday up 8% from near 52 week lows after it announced initial results from Phase One of its 2024 winter drill program at the Russell Lake Uranium Project in Saskatchewan.

Drilling at Russell was completed during two phases of drilling with a total of 3,094 metres drilled in six holes during Phase One. The second phase of the winter drill program at Russell consisted of 2,058 metres in four holes with the geochemical assays to be released at a later date.

Highlights from Phase 1 include 2.99% U3O8, which was intersected over 0.5 metres in hole RSL24-02 at the new Fork Zone, within an interval of 0.721% U3O8 over 2.5 metres from 338.1 to 340.6 metres.

Skyharbour is fully funded and permitted for a follow-up summer drill program at Russell and at the adjacent Moore project. The company is planning for 7,000 - 8,000 metres of drilling across both projects.

Price: 0.40, Change: +0.03, Percent Change: +8.11