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May
08, 2008
NEWS
RELEASE
Skyharbour
Updates Drilling at
South Bay Mine Project, NW Ontario
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V: SYH) (the “Company”)
announces that the drill program on its base metal discovery located
approximately 500 metres to the southwest of the past producing South Bay mine, 80 km
east-northeast of Red Lake, Northwestern Ontario is continuing through spring
break up.
Map of South Bay
Mine and New Discovery Area:
http://www.skyharbourltd.com/i/maps/SYH-NewDisc.gif
Drilling to date has tested a 180
metre strike length with 4 holes completed. Zinc-copper bearing intervals
have been encountered in 3 of the 4 holes completed. The zinc bearing
exhalite horizon has a near vertical dip and occurs near the stratigraphic
top of an irregular zone of heavily altered dacite brecciation.
Skyharbour is of the opinion that
the mineralization encountered in holes SB08-4 to SB08-6 are within an
extension of the stratigraphy that is host to the past producer South Bay
Mines. The Company is also of the belief that there remains a very large
unexplored and drill untested area to the southwest of the past mine site.
South Bay Mine and New Discovery Chargeability Anomaly:
http://www.skyharbourltd.com/i/maps/SYH-ChargeAnom.gif
Skyharbour
Resources provides below an update on the drilling to date:
SB08-4 drill hole was collared
approx. 500 metres to the southwest of the South Bay
mine shaft and encountered 2 volcanogenic massive sulphides (VMS) zones and
was drilled at an azimuth of 270 degrees with a dip of 60 degrees. An
intersection from 357.5 to 368.8 metres encountered massive suphides
with assays previously reported. An intersection from 387.0 to 396.6 encountered
zinc rich exhalite with assays pending.
SB08-5 drill hole was collared 80
metres north of hole SB08-4 and was drilled at an azimuth of 270 degrees with
a dip of 60 degrees. An intersection from 456.9 to
459.6 metres encountered zinc rich exhalite with assays pending.
SB08-6 drill hole was collared at
the same site as hole SB08-5 and was drilled at an azimuth of 250 degrees
with a dip of 50 degrees. The intent was to encounter the VMS zone 50 metres
vertically above the intercept in hole SB08-4. An intersection
from 261.3 to 269.3 metres encountered VMS with assays
pending.
SB08-7 drill hole was collared 100
metres south of hole SB08-4 and was drilled at an azimuth of 270 degrees with
a dip of 60 degrees encountered similar stratigraphy as the previous holes
including a altered dacite breccia zone with limited sulphides. Assays are
pending.
SB08-8 drill hole is currently in
progress and has been collared 100 metres west of hole SB08-4 at an azimuth
of 270 degrees with a dip of 60 degrees. Plan is to test the western
extension of the same Titan 24 anomaly.
The next two drill holes SB08-9
and SB08-10 are planned step-out holes to the north of the mineralized
discovery zone and will be located approx. 350 metres southwest of the South Bay mine shaft in an attempt to show
continuity between the two mineralized zones.
Assays
are pending from core samples of a second zone of VMS mineralization
identified in drill hole SB08-4 and VMS mineralization discovered in hole
SB08-05 and SB08-06, which have been submitted to TSL Laboratory in Saskatoon.
The claims currently being drilled
by Skyharbour were not owned by the previous mine operator during the full
duration of their zinc-copper production stage (1970 – 1982). The
previous producer and the landholder at the time could not come to terms on
an exploration strategy on the acreage now held by Skyharbour Resources. The land that the Company
currently holds is considered to have +800 metres of strike length extending
to the southwest of the known past production. Skyharbour intends to follow
and trace its new discovery zone of VMS as seen to date in holes SB08-4 to
SB08-6 with a series of drill holes trending towards the mine shaft of the
past producing South
Bay mine.
Skyharbour
Resources currently has approx. $3.0 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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