Skyharbour Signs Letter of Intent with Purecore to Option its Yurchison Uranium Property in the Athabasca Basin
Skyharbour adds the Yurchison prospect to its portfolio, reinforcing its land-pile strategy as a prospect generator in the Athabasca region.
Skyharbour Resources Ltd. (SYH) has signed a non-binding letter of intent to option up to a 100% interest in the Yurchison uranium property from Purecore Metals Inc. The property comprises 22 claims covering approximately 35,029 hectares in the Wollaston Domain of Northern Saskatchewan. Located roughly 75 km south of Cameco’s Rabbit Lake operation, the ground is underlain by Wollaston Supergroup metasedimentary gneisses.
Historical exploration spans the 1960s–1980s, with recent 2022–2023 airborne EM and magnetics surveys. Prospecting has returned uranium (0.09%–0.30% U3O8) and molybdenum (2,500–6,400 ppm) in outcrop samples. The company highlights strong discovery potential for basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted Cu-Pb-Zn mineralization.
Transaction conditions include satisfactory due diligence, execution of a definitive option agreement, and board/regulatory approvals.
Skyharbour Resources Ltd. (SYH) announced a non-binding letter of intent for a secondary property, a move that aligns with its established prospect generator model. The company has been actively expanding its land package through low-cost staking and option agreements, including the January 2026 acquisition of 40 claims. This incremental step is consistent with Skyharbour’s stated strategy to accumulate prospective ground in the Athabasca Basin to attract partner funding and earn-in agreements.
The announcement carries no immediate financial or operational impact and does not alter the core exploration focus on the Moore and Russell Lake projects. No new capital commitment or drilling program is attached to this specific LOI at this stage. The market likely priced in continued land expansion, treating this as a routine follow-up to previous staking announcements.
Skyharbour Resources Ltd. (SYH) operates as a uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada. The company’s business model combines core flagship projects with a prospect generator strategy, leveraging joint ventures and earn-in option agreements to fund exploration without immediate equity dilution.
The firm’s flagship assets include the 100%-owned Moore Uranium Project, which is in advanced-stage exploration and features high-grade historical intercepts up to 6.0% U3O8 over 5.9m. A 2026 campaign at Moore targets 8,000–10,000m across multiple zones, including Nomad, Esker, Maverick, and Nutana. Skyharbour also holds operator status on the Russell Lake Uranium Project, which has been reorganized into four joint ventures with Denison Mines. Skyharbour retains operator status on Russell Lake (80%) and Getty East (70%), with planned 2026 drilling exceeding 15,000m across the joint venture package.
The company’s secondary portfolio comprises over 662,000 hectares across 43 projects. These assets include the Preston project (Orano joint venture), South Falcon East (Terra Clean option), Falcon (North Shore option), and 914W (Mustang Energy option).