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April 21,
2008
NEWS RELEASE
Results on Initial Drilling at South Bay Mine
Project, NW Ontario
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V:
SYH) (the “Company”) announces results
on its initial drilling on a announced discovery of Volcanogenic Massive
Sulphides (VMS) mineralization in an area that has never been drill tested in
the past, 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
The
discovery of VMS style zinc mineralization in a totally unexplored portion of
the South Bay stratigraphy is highly
significant. It is too early in the exploration process to have identified
the principle vent(s) and more strongly mineralized areas. Subsequent
pressure and folding of the mineralization has resulted in thinning and
thickening of the sulphides and buried to depth with concentrations expected
to be both of lower and higher grade. Concentrations most likely will be
found in both pods and lenses with lower and higher grade sections. The
possibility of parallel zones is also a potential. Exploration is currently
focused on expanding the area of mineralization to identify richer portions
of the system.
South Bay Area Geology
Map:
http://www.skyharbourltd.com/s/Image.asp?i=maps/southbay-geology..gif
The stratigraphy
hosting the discovery is a thick sequence of rhyolitic flows and flow
breccias intruded by numerous porphyry bodies and sills. The mineralization
may be within stratigraphy correlative with that hosting the South Bay mine. The area of the Skyharbour
discovery is marked by a large and discrete sodium depletion zone in rocks
that typically characterize VMS deposits.
The
dominant mineral in the discovery is sphalerite (zinc) with minor
chalcopyrite (copper). The zone is distinctly exhalite in origin and is very
fine grained with very fine bedding and some chert beds. These features
suggest the mineralization is on the apron, some distance (+/- 200 metres)
from a potential vent area where zinc and copper grades are generally much
higher. The deposit overlies an extensive rhyolitic flow breccia sequence
with chlorite alteration in the matrix to the fragments.
Skyharbour
discovered Volcanogenic Massive Sulphides
(VMS) mineralization over 13.1 metres in drill hole SB08-04 between 355.7
metres to 368.8 metres with significant results reported below.
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From
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To
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Intercept
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Zn
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Cu
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Ag
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357.5m
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359.5m
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2.0m
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1.50%
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.20%
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14.0g/t
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Incl: 357.5m
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358.5m
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1.0m
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2.85%
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.20%
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24.0g/t
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366.0m
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368.8m
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2.8m
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1.60%
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-
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7.0g/t
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Incl: 366.0m
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368.0m
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2.0m
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2.10%
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-
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7.0g/t
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Assays
are pending from core samples of a second significant zone of VMS
mineralization identified in drill hole SB08-4 and in hole SB08-05, which are
currently awaiting processing by TSL Laboratory in Saskatoon.
Skyharbour
plans to complete 4,000 metres in additional drilling in this phase 1 program
with drill hole SB08-6 in progress at a depth of approx. 250 metres and is
being drilled at an azimuth of 250 degrees and a dip of 50 degrees.
The general
area of the discovery has all the characteristics of a base metal camp.
Typically a camp hosts a number of zinc-copper deposits with one or two
larger deposits of 15 to 50 million tonnes and a range of much smaller
deposits down to � a million tonnes. The only significant deposit found
to date is the South
Bay mine deposit and it
is at the smaller end of the scale. This might suggest that larger deposits
remain to be discovered.
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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