Skyharbour Commences Major Drilling Initiative at Moore Uranium Asset

Skyharbour Resources begins a multi-year uranium drilling campaign at its Moore Project in Saskatchewan, targeting high-grade zones to expand resources amid a focus on secure critical minerals.

Skyharbour Resources Ltd. has initiated its 2026 drilling campaign at the Moore Uranium Project, located in Saskatchewan’s prolific Athabasca Basin. Operations commenced on April 1, marking the beginning of a multi-year exploration strategy designed to more accurately delineate mineralized zones across the property, which spans over 35,000 hectares.

Market Reaction and Exploration Context

The announcement of the drilling program’s start was met with profit-taking in the market. Skyharbour’s shares declined by nearly 10% during the day’s trading, with the price settling at €0.27. Significant price movements are not uncommon for the stock, which exhibits an annualized volatility of approximately 90%.

This exploration push comes at a time when global markets are placing increased emphasis on energy security and sourcing critical minerals from politically stable jurisdictions like Canada. Successful results from such drilling campaigns are frequently viewed by analysts as a key catalyst for potential resource expansion.

Phased Drilling Program Details

The current work is the first phase of an extensive program scheduled to run until March 2029, encompassing a total of 8,000 to 10,000 meters in diamond drilling. The initial stage will see a technical team focus on 4,000 to 5,000 meters of drilling, distributed across ten to twelve individual holes.

Priority targets for this phase include the Nomad, Esker, and Nutana zones. This focus is driven by historical successes at the site. Past drilling has already intersected grades of 1.21% U3O8 over 0.5 meters in the Esker zone, with a high-grade intercept of 4.84% U3O8 over 4.4 meters recorded in 2025. The new drilling aims to determine the continuity of these mineralization trends.

Next Steps and Analysis

Field crews have now begun the process of collecting and logging the initial drill cores. The company is expected to provide further updates on the geological findings from Phase I once laboratory assays from the first batch of samples are completed. This data will be crucial for guiding subsequent exploration efforts and refining the project’s geological model.