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September
14, 2007
NEWS RELEASE
Deep Drill Program on Broulan
Reef Gold Project to Commence
in Red Lake, Ontario
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V:
SYH) (the “Company”) announces that the 2007-2008
exploration program on its 20% owned, Cypress
Development Corp. (TSX-V: CYP) 80% owned Broulan Reef gold project
located in the Bruce Channel area, Red Lake, Northwestern Ontario is about to
commence with the anticipated arrival of the deep penetrating diamond drill
rig. The Broulan Reef gold project is situated along the Red Lake
mine trend, west of Goldcorp's Red Lake and Campbell
mines, and adjacent to the south of Gold Eagle Mines Bruce Channel discovery.
Broulan Reef
Red Lake Location Map:
http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-McKenzie-Island-New-Map.jpg
The rig, a
JKS Boyles BBS – 75 Diamond Drill, is capable of achieving drill
hole lengths of up to 2400 metres. A drill contract has been awarded to Cabo
Diamond Drilling, Kirkland Lake,
Ontario. Cabo has informed
Skyharbour that the drill rig will be mobilized and drilling will commence on
the Broulan Reef project at the beginning of October 2007. Skyharbour
anticipates the drilling of 2 mother holes with several diverging holes to be
wedged off each of the main holes. The Company intends to drill up to 10,000
metres with this Phase 1 deep drill program. A budget of $2.5 million dollars
has been allotted for the completion of the Phase 1 of the deep penetration
drill program on the Broulan Reef acreage over a 12 to 18 month period.
The target
for the 2007-2008 deep drill program will be the Balmer Assemblage rocks
underlying the Bruce Channel sediments, as established during the 2006
summer-fall drill program on the Broulan Reef project. Dips within the Bruce
Channel rocks on the west limb of the broad nose fold are approximately 45
degrees to the west .The shallow dipping unconformity has very significant
implications for the Broulan Reef property. With known points of elevations
of the Balmer Assemblage surface, it is projected that this rock type horizon
will be at an inferred vertical depth of between 900 metres on the eastern
edge of the property and 2000 metres on the western part of the property. At these depths, targets in the Balmer Assemblage
rocks are within explorable and exploitable range over most of the property.
The Balmer
Assemblage rocks beneath the Bruce Channel sediments represent a highly
prospective setting to host high-grade gold mineralization similar to several
mines in the immediate area and to recent, near-by discoveries in the Balmer
Assemblage rocks (Gold Eagle Mines etc.). General structural orientations,
north-northeast, indicate the structural trend being successfully drill
tested by Gold Eagle Mines at this time continues on the Broulan Reef
property.
Broulan Reef 1st Deep Drill Hole Location Map:
http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-Broulan_reef_Drill_Map.jpg
The Balmer
Assemblage is the known host rock for the gold deposits that are being
discovered by Skyharbour’s neighbors, Gold Eagle Mines, Goldcorp and
Premier Gold. The Balmer Assemblage is the known host environment for the
gold that is produced in Red
Lake by Goldcorp,
perhaps the richest gold mine known in the world today. The same geological
horizon, Balmer Assemblage that is being seen in the Gold Eagle Mines
drilling is known to exist on the Skyharbour Broulan Reef property (2006
summer-fall drill program).
The
Company believes that every opportunity exists on the Broulan Reef claims to
encounter the extension of the Gold Eagle Mines deposit now being
discovered / delineated in the Bruce Channel. Gold Eagle Mines adjoins the
Broulan Reef project on our immediate north boundary. Goldcorp / Premier Gold
adjoin the Broulan Reef project on our east boundary with their
Rahill-Bonanza project. Gold Eagle, and Goldcorp / Premier Gold continue to
drill just to the north and east of Skyharbour’s property with very
impressive results released to date.
Skyharbour’s
joint venture partner, Cypress Development, has now completed the
establishment of an all weather access road right-of-way to the drill site
for the next several holes to be completed on the Broulan Reef property. The
Company has received permission from Goldcorp to access the drill site area
across their patented ground. Cypress also has made arrangements to access
its patented mining claim KRL 41962 on the east side of the Bruce Channel by
crossing private surface rights held by Sandor Red Lake Limited and
Minnie-Bowman Surveying Ltd, two private Ontario companies. Cypress
Development now has the ability to access the deep hole drill site for the
next 18 months. As consideration, Cypress Development will issued Sandor Red
Lake Limited and Minnie-Bowman Surveying Ltd a total of 200,000 shares of
Cypress Development Corp. shares upon TSX Venture Exchange approval.
David J.
Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified
person under the meaning of National Instrument 43-101 and has reviewed the
data in this News Release.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a gold and base metal exploration
company developing projects in the RED
LAKE and RAINY RIVER districts of
northwestern Ontario, Canada.
To find
out more about Skyharbour Resources Ltd. (TSX-V:
SYH), visit the Company’s website at www.skyharbourltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Don Huston”
___________________________________
DONALD C. HUSTON
President
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