Zadar Reports Completion of Phase II Program on PNE
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 22, 2013) - Zadar Ventures Ltd. (the "Company") (TSX VENTURE:ZAD) (FRANKFURT:ZAV) updates exploration progress on Zadar's PNE Uranium Project (15,292 ha.) located in the Patterson Lake area of the Athabasca Basin, northern Saskatchewan. The Phase II exploration program that included ground based geophysical surveys (hand-held scintillometer prospecting), boulder mapping and AlphaTrack radon detector surveys over 9 target areas is now complete. In total, 370 radon detectors were distributed in targeted, systematic grids over the interpreted uranium target areas during the course of the program. Analytical results from the radon surveys and rock sampling programs will be reported once received, evaluated and analyzed.
The PNE project shares a common boundary with the Patterson Lake North project (Fission Uranium Corp.(50%) - Azincourt Uranium Inc. (50%)) where the discovery of an ~8 km long conductor trend was recently announced on ground immediately adjoining the PNE project. In the same news release (October 8, 2013), Fission Uranium, the operator of the Patterson Lake North project, announced an exploration budget of $1.5 million that includes 2,500-3,000 metres of winter 2014 diamond drilling. This is a very positive development and enhances Zadar's belief that the PNE project has a high discovery potential for an unconformity or basement hosted uranium deposit at shallow depths, based on lithology, structure, alteration and historical boulder sampling.
Both the PNE and Patterson Lake North projects lie 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
The company has also set 100,000 incentive stock options at $0.25 for a period of two years.
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.