October
17, 2007
NEWS
RELEASE
Drilling
Commences on Broulan Reef Gold Project
in Red Lake, Ontario
Vancouver,
BC – Skyharbour Resources Ltd. (TSX-V: SYH) today announced
that it has commenced drilling on its 20% owned Broulan Reef Gold Project
with Cabo Drilling establishing a JKS Boyles BBS-75 diamond drill on the
Company’s project located in Red Lake, Northwestern Ontario. The drill
rig is capable of achieving drill hole lengths of up to 2400 metres and is
situated on the east shore of the Bruce Channel on claim # 41962.
“This
is an important step forward in the ongoing development of the Broulan Reef
project,” said Donald Huston, President of
Skyharbour Resources. “We believe there is an opportunity to
encounter the extension of the Gold Eagle Mines deposit now being discovered
and delineated in the Bruce Channel and anticipate
drilling will last approximately 12 months.”
Broulan
Reef Project Location Map: http://www.skyharbourltd.com/s/Image.asp?i=photos/Bruce_Channel_Photo.gif
Skyharbour
anticipates the drilling of two 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 is in place for the completion of a Phase 1 deep penetration drill
program on the Broulan Reef gold claims.
Proposed
Broulan Reef Drill Hole Map: http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-Picture5.jpg
The
target for the 2007-2008 deep drill program is the Balmer Assemblage rocks
underlying the Bruce Channel sediments, as established during the drill
program conducted on the Broulan Reef project in the summer and autumn of
2006. 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.
New
Red Lake Gold Deposits Map: http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-Picture2.jpg
Gold
Eagle Mines adjoins the Broulan Reef project on the immediate northern
boundary. Goldcorp / Premier Gold adjoin the Broulan Reef project on the
eastern 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. Skyharbour and Cypress Development now have the ability to access
the deep hole drill site for the next 18 months.
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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