|By Marketwired .||
|March 3, 2014 08:00 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 -- 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.
Zadar Ventures Ltd.
Paul D. Gray