Skyharbour Resources Ltd.

Skyharbour Resources Ltd.

June 23, 2008 09:00 ET

Skyharbour Announces Additional Assay Results from South Bay Mine Project, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2008) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces additional assay results from its 100% owned south Bay Zinc-copper-silver project, located in Dent and Mitchell township, 80 km east north east of Red Lake, Ontario. The 3200 Acre property includes the former South Bay zinc-copper-silver mine (Selco) which produced 1.6 million tons of ore grading 14.5% Zn, 2.3% Cu, and 3.5 oz/t Ag.

South Bay Claims Map, NW Ontario:

Skyharbour has encountered Volcanogenic Massive Sulphides (VMS) mineralization over significant intersections in its drill program. Assays have been received for holes SB08-6 through SB08-8. A significant zone of VMS mineralization has been identified in drill hole SB08-6, which is reported below.

Note: In hole SB08-6, core from 263.8 metres to 267.3 metres (3.5 metres)
was ground with no recovery in the main part of the mineralized zone.

Hole # From To Intercept Zn Cu Ag Au
SB08-6 261.3m 263.8m 2.5m 2.51% 0.11% 12.8g/t -
Incl. 262.3m 262.8m 0.5m 2.02% 0.10% 12.3g/t -
Incl. 263.3m 263.8m 0.5m 4.94% 0.11% 13.3g/t 490ppb
267.3m 269.2m 1.9m 2.25% 0.14% 8.86g/t 500ppb
Incl. 268.2m 268.7m 0.5m 3.18% 0.21% 12.5g/t 1570ppb
SB08-7 301.3m 305.5m 4.2m 0.39% - - -
SB08-8 87.6m 88.1m 0.5m 0.52% 0.03% 5.2g/t -
89.8m 91.8m 2.0m 0.68% 0.05% 6.7g/t -

Zinc mineralization encountered in drilling 500 metres to southwest of the past producing South Bay mine shaft occurs in two zones. It is still being determined if the zinc mineralization being reported by Skyharbour is separate stratigraphic intervals or a repeated interval due to tight folding. Both zones are fine grained and include chert beds giving rise to the term 'exhalite'.

South Bay Area Geology Map:

Drilling is currently testing a large Titan 24 chargeability / resistivity anomaly that trends from the mine workings to the recent Skyharbour zinc discovery. The compilation shows this anomaly is related to the mineralization mined at South Bay but is outside the area explored from underground. The geophysical data indicates the target 'tops out' 200 metres below surface but is open at depth.

Skyharbour has now completed 12 diamond drill holes on its South Bay property. The Company continues to drill the property at this time. A further 2 drill holes have been located in the field and are to be completed in this ongoing Phase #1 drill program.

Assays are pending from core samples split from holes SB08-9 through SB08-12, with Skyharbour currently awaiting processing by TSL Laboratory in Saskatoon.

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 1/2 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 has approximately $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 VENTURE:SYH), visit the Company's website at



This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Skyharbour Resources Ltd.
    Donald C. Huston
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Skyharbour Resources Ltd.
    Don Myers
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)