December 19, 2013 - Vancouver, British Columbia. Zadar Ventures Ltd. (the “Company”) announces that it has entered into with Canterra Minerals Corporation (“Canterra”) and Triex Minerals Corp. (“Triex”), a 100% subsidiary of Canterra, has signed a definitive purchase agreement. Under this agreement, Zadar will acquire all rights to the West Carswell uranium project. As agreed, the company will transfer 385.000 ordinary shares to Canterra. Canterra will receive a 2% NSR stake in the project with the option to buy back 1% for $ 1 million
The West Carswell project (8.157 hectares) is located on the western edge of the Carswell structure. This meteorite impact crater is an approximately circular and multi-ring structure with an average diameter of 35 km within the Athabasca Basin that is up to 2 km in length of lower-layer material driven upward. The Carswell structure includes numerous uranium deposits (SMDI: Saskatchewan Mineral Deposit Inventory). These include, inter alia, the zones D, N, OP, Claude, Dominique Peter, Dominique Janine and West Dominique Janine, which are jointly managed as the mine Cluff Lake. COGEMA Resources Inc. has been the operator of this mine for 22 for over a million pounds of U60 funded by 308 (Geology, Mineral and Petroleum Resources of Saskatchewan, Saskatchewan Industry and Resources, 2003). The Shea Creek (Kianna, Anne, Collette and 58B) uranium concession hosts the largest undeveloped uranium resource in the Athabasca Basin and the third largest uranium resource in the Athabasca Basin (http://www.uex-corporation.com/s/shea_creek.asp ). The Shea Creek uranium mineralization is located outside the Carswell structure, approximately 20 kilometers south of the Cluff Lake deposits and 15 kilometers southeast of the West Carswell project. The West Carswell Property is in the same base formation as Cluff Lake and Shea Creek. This zone is characterized by narrow magnetic field zones running in NW-SO direction, which are shown in the maps, which were created by magnetic field measuring flights. The Harrison shear zone is a regional fault zone that belongs to the southwestern fringe of the Carswell structure. The shear zone crosses the northeastern portion of the West Carswell project and is of major importance due to the presence of uranium deposits. Electromagnetic field measurements in the air and on the ground as well as diamond drilling took place in the past. The measurement flights for the determination of electromagnetic fields revealed a highly conductive structure called the MP anomaly (~ 4,3 km long O / W x 1,2 km wide N / S). Exploration drilling in the MP anomaly area intersected uranium mineralization in the form of fault zones and hydrothermal breccia zones. There were elevated to anomalous boron levels (9-316 ppm) in the sandstone, up to 60 meter wide, low radioactive zones in the sandstone in the area of unconformity and hematite and radioactive base granite. The geophysical measurements also revealed electromagnetic conduction associated with the Harrison shear zone that has not yet been explored by drilling.
The ordinary shares are issued after conclusion of the contract and approval by the TSX.V and are bound from the date of issue to a holding period of four months and one day.
Zadar Ventures Ltd. is a junior exploration company focused on the acquisition and exploration of economically viable mineral resources. For more information, visit the company's website at www.zadarventures.com.
Kieran Downes, P., has reviewed and acknowledged the technical information contained in this notification in his capacity as a Qualified Person under National Instrument 43-101.
FOR THE BOARD:
Paul D. Gray, P.Geo.
President & Chief Executive Officer
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
No liability is assumed for the accuracy of the translation!
Source: IRW-Press.com.
