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ZAD Zadar Ventures Ltd

0.30
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Zadar Ventures Ltd TSXV:ZAD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.30 0.50 0.50 0 01:00:00

Zadar Announces Drilling Permit Applications and Work Programs for PNE and Pasfield Lake Uranium Projects

03/03/2014 11:59pm

Marketwired Canada


Zadar Ventures Ltd. (the "Company") (TSX VENTURE:ZAD)(FRANKFURT:ZAV) is pleased
to announce the initiation of permit applications for winter geophysical and
winter/summer diamond drill programs on the PNE and Pasfield Lake Uranium
Projects in the Athabasca Basin, Saskatchewan. Zadar management has completed a
first phase compilation of the historic data from the PNE and Pasfield projects
and has developed an exploration program on both of these high priority
Athabasca Basin targets. 


At PNE 3,500 metres of diamond drilling will be permitted, along with additional
ground-based geophysics. In specific, the radon anomalies located from Zadar's
2013 PNE work programs will be tested as well as a conductive trends in the
Southwestern portion of the claim block identified by previous workers. 


The 15,292 hectares PNE project immediately adjoins the Patterson Lake North
project (Azincourt Uranium Inc. (50%)/Fission Uranium (50%)) and is located
approx. 11km NE of the Patterson Lake South project (Fission Uranium Corp.),
where high-grade uranium intersections are being encountered at shallow depths.
The PNE project lies within large basin scale NE, NNE and NS trending structural
corridors inferred by gravity and magnetic lows, which encompasses the former
Cluff Lake uranium mine, the Shea Creek uranium deposits, and the recently
discovered high-grade uranium mineralization found at the Patterson Lake South
project. 


At Pasfield Lake, The Company is planning a three phase exploration program
consisting of airborne and ground-based geophysical surveys in advance of a
proposed 3,800 metre drilling program followed by a staged program of uranium
exploration culminating in 32,000 m drilling program.


The Pasfield Lake project (37,445 hectares) is situated on the Pasfield
Structure (confirmed as an impact structure and similar to the Carswell
Structure) and within the Cable Bay shear zone ("CBSZ"). Exploration has
identified important indications of the presence of uranium-bearing hydrothermal
fluids along the fault that forms the eastern arm of the CBSZ. Further drilling
is required to adequately test for uranium mineralization in this structurally
complex area, especially where shallow basement (300-500 metres) is indicated by
geophysical surveys. The property is a large and compelling exploration target
encompassing a major basement uplift feature, with at least 600 metres of
vertical displacement relative to regional basement depths. It is located on a
major regional shear zone, with strong surface geochemical anomalies and
strongly altered and radioactive rocks discovered in drill core, and coincident
with the eastern and western "arms" of the "CBSZ". Exploration by Triex
comprised lake sediment sampling, soil and biogeochemical sampling, airborne
electromagnetic and gravity surveys, and diamond drilling. Soil and
bio-geochemical surveys identified a robust multi-element anomaly with
significantly elevated uranium values accompanied by elevated levels of boron,
lead, molybdenum, vanadium and arsenic, the five key pathfinder elements
associated with alteration halos above unconformity-type uranium deposits in the
Athabasca Basin. Reconnaissance drilling identified the presence of significant
alteration features indicative of proximity to uranium ore-bodies. Pervasive
bleaching was present in basement rocks at the unconformity in all holes. Other
features intersected in individual holes included intensely clay-altered
granitic gneiss, hematite-filled breccia in basement granite gneiss, + 300
metres of graphitic garnet-mica metapelitic gneiss, strongly graphitic fracture
zones, and weak but extensive clay alteration of the sandstone. Two zones with
increased radioactivity and elevated uranium, boron and other key pathfinder
elements were identified; one at the unconformity and another 800 metres above
the unconformity. 


Company Management believes the application process will be completed in short
order and does not anticipate any delays in issuance from the Saskatchewan
Ministry of Environment. With the work permits in place, the Company will be
able to advance these intriguing uranium targets in 2014. 


Zadar Ventures Ltd. is a junior uranium exploration company focused on acquiring
and exploring for economically viable mineral resources. For more information we
invite you to visit the company's website at www.zadarventures.com.


Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and verified the technical information provided in this
release.


ON BEHALF OF THE BOARD OF DIRECTORS

Paul D. Gray, P.Geo., President

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.This press release
may contain certain forward-looking information. All statements included herein,
other than statements of historical fact, forward-looking information and such
information involves various risks and uncertainties. There can be no assurance
that such information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such information. A
description of assumptions used to develop such forward-looking information and
a description of risk factors that may cause actual results to differ materially
from forward-looking information can be found in the company's disclosure
documents on the SEDAR website at www.sedar.com. The company does not undertake
to update any forward-looking information except in accordance with applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zadar Ventures Ltd.
Paul D. Gray
President
604-608-6314
www.zadarventures.com

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