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April 17, 2008
NEWS RELEASE
Skyharbour Discovers VMS in 100 Metre Step-Out Hole
at
former South Bay Mine Project, NW Ontario
Vancouver, BC
– Skyharbour Resources Ltd. (TSX-V: SYH) (the “Company”) is pleased
to announce that step-out hole SB08-5 has encountered Volcanogenic
Massive Sulfides (VMS) mineralization approx. 100 metres north of a
previously announced discovery hole located 500
metres to the southwest of the former South Bay Mine shaft, 80 km
east-northeast of Red Lake, Northwestern Ontario.
South Bay Claims Map, NW Ontario:
http://www.skyharbourltd.com/s/Image.asp?i=maps/SYH
_South_Bay_Map_new.jpg
Hole SB08-5 zone of mineralization appears to be the
stratigraphic equivalent of the lower zone of zinc bearing exhalite
encountered in discovery hole SB08-4, announced by News Release April 3rd,
100 metres to the south. The mineralization consists of fine grained and
finely banded sphalerite and pyrite between 456.9 and 459.9 metres in
the hole. Hole SB08-5 was drilled with an azimuth of 270 degrees and a dip of
60 degrees.
Drill hole SB08-6 is now in progress from the same
collar as SB08-5 at a shallower angle to test
for the continuation of the upper zone encountered in discovery hole SB 08-4. SB08- 6 is being drilled at an azimuth of 250
degrees and a dip of 50 degrees.
These newly identified massive sulphide zones are in
an area that has never been drill tested in the past. Assays are pending.
Skyharbour Resources previously announced by News Release April 3rd
and April 8th, 2008 that the Company intersected 2 zones of
Volcanogenic Massive Sulphide (VMS) mineralization in drill hole
SB08-4. SB08-5 seems to indicate that the VMS mineralization continues
to the north northeast towards the shaft of the past producer South Bay
Cu-Zn-Ag Mine. (Selco 1970 – 1982) and the zone of mineralization
appears to be the stratigraphic equivalent of the lower zone of the
sphalerite bearing exhalite encountered in SB 08-4. This may suggest multiple
or stacked mineralized horizons which is a common feature of VMS deposits.
Additional drilling is planned for this phase 1
drill program on the South
Bay property. Skyharbour Resources will add an additional 4000
metres of drilling to the program at this time.
The Company also announces it will immediately
conduct a detailed Magnetometer survey over the new discovery area on claims
KRL 1234298, KRL 1144258, KRL 1184143, and KRL 1144261. This will enable
Skyharbour to further identify and delineate geological structure interpreted
from the “Titan 24” Magnetotelluric and DC Resistivity
and Induced Polarization Surveys completed over the South Bay Mine Project in
2007. The detailed magnetometer data will enable the Company to take full
advantage of the footage it is to drill.
Skyharbour Resources holds a 100% interest in the
South Bay copper-zinc-silver project, located in Dent and Mitchell Townships
about 80 km east-northeast of Red Lake, Northwestern Ontario. The 3,200 acres
property covers the former South Bay copper-zinc-silver mine which produced
1.6 million tons of ore grading 2.3% Cu, 14.5% Zn, and 3.5 oz/t Ag (Selco
1978).
Skyharbour Resources currently has $2.8 million in working capital and
no debt.
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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