April
03, 2008
NEWS
RELEASE
Skyharbour’s
Drilling Identifies Massive Sulphide Zone on
South
Bay Project, Red Lake,
NW Ontario
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V:
SYH) (the “Company”) announces has made,
what appears to be, a significant discovery of volcanogenic massive sulphide
(VMS) mineralization, in an area that has never been drill tested in the
past, approximately 500 metres to the southwest of the former South Bay Mine
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
Skyharbour
is drill
testing Titan 24 geophysical anomalies on the Company’s South Bay property
which has identified a massive sulphide zone in diamond drill hole SB 08-4. The
mineralization consists of fine grained, massive to finely bedded phyrrotite
with visible zinc sulphides (sphalerite) and visible copper sulphides
(chalcopyrite) between 357 metres and 369 metres in the hole. Drilling of
hole SB 08-04 is continuing at a 60� dip with a 270� azimuth. This new VMS
zone is approximately 500 metres to the southwest of the former South Bay
mine shaft operated by Selection Trust of London (Selco. 1970 - 1982).
The
above samples from hole SB 08-4 have now been selected, sealed and labeled
“Rush for Assay” for immediate shipment to TSL laboratory in
Saskatoon, SK. All unnecessary communication from the field camp has been
curtailed.
The
new sulphide zone occurs between a thick acid porphyry unit and a fragmental
rhyolite. The porphyry is marked by a weak sericite alteration throughout. A
system of fine cross cutting chlorite veinlets occurs in the fragmental
rhyolite unit adjacent to the massive sulfides.
Skyharbour
Resources is very encouraged with the size of the intersection in the
discovery hole. The Company announces it has increased its current drill
budget on the South Bay copper- zinc discovery to include a minimum of
another 4 drill holes for an added amount of 2400 metres to be completed at
this time.
The drill is located on the
mainland and therefore the work program will not be affected with the
impending spring thaw. The Company has established a full camp on the
property and the property is serviced by an all weather road from the main Red Lake
highway (approx. 75 km).
The positioning of the drill holes
is based upon ground geophysical surveying during the winter of 2007 where
ground geophysical surveys were completed including magnetic and
horizontal-loop electromagnetics. The anomaly being tested has an inferred
strike length in the order of 400 metres based on the “Titan 24”
electromagnetic survey.
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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