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January
09, 2008
NEWS
RELEASE
Drilling
Resumes on
Broulan Reef Gold Project,
Red Lake,
NW Ontario
Vancouver,
BC – Skyharbour Resources Ltd. (TSX-V: SYH) announced
that drilling has resumed on its 20% owned, Cypress Development Corp. (TSX-V:
CYP) 80% owned, Broulan Reef property located in the heart of the gold
mining district of Red Lake, northwestern Ontario.
Cabo
Drilling has remobilized its drill crew to the Broulan Reef project and will
now continue to deepen the diamond drill hole BR 07-1 to approximately 2,400
metres from its current depth of 750 metres. Skyharbour and Cypress will
attempt to complete the BR 07-1 “mother hole” within the next
several weeks. The companies will then “wedge” several holes off
the main initial drill hole. Skyharbour and Cypress anticipate the Cabo drill
rig to be on the property throughout 2008. Skyharbour continues to be
well funded and able to meet all its obligations and work commitments for the
upcoming year.
BR
07-1 is designed to intersect the Balmer assemblage rock types that are host
to the Bruce Channel and Finn gold zones as reported in the latest Gold Eagle
Mines Ltd (GEA) news releases. The GEA Bruce Channel project adjoins the
Broulan Reef project immediately to the north, and is on strike geologically.
The other boundaries being the east, south, west sides of the Broulan Reef
property are abutting Goldcorp (G) claims. Goldcorp continues to carry out a
major drill program to the immediate east of the Broulan Reef property with
its partner Premier Gold on their Rahill Bonanza project.
A
map of the Broulan Reef Project can be accessed through the following link:
http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-Broulan-Reef-New-Map.jpg
“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 being delineated
under the Bruce Channel. There is every reason to believe that the
mineralized zone being delineated on the Gold Eagle property continues beyond
the Broulan Reef north boundary”.
Skyharbour
and Cypress anticipate the drilling of a second mother hole with several
diverging holes to be wedged off both main holes. The companies intend 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 this 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 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
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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