The Stony Road project (10,545 hectares) is situated on the eastern arm of the CBSZ, the structure identified as highly prospective by exploration on the Pasfield project. Exploration by Triex comprised regional geochemical sampling, airborne and ground electromagnetic/ gravity surveys, and diamond drilling. Reconnaissance drilling targeted a strong conductor on the eastern splay of the regional CBSZ. One hole intersected anomalous radioactivity over several tens of metres above the unconformity, up to 687 cps, in association with the most intensely altered rocks. Uranium geochemical values were also elevated in this interval, from 10 to 20 times background.
The Riverlake (5,583 hectares) and Highrock projects (5,831 hectares) have a similar geological setting as the Key Lake mine (Gaertner and Deilmann orebodies). The northwest corner of the Highrock property is 8 km from the Gaertner and Deilmann orebodies. Exploration by Triex comprised airborne and ground electromagnetic surveys, soil sampling and diamond drilling. At Riverlake, a 1,200 metre long NE-SW by 600 metre wide NW-SE soil anomaly with peak uranium values of 3.74 ppm and coincident elevated to anomalous arsenic, molybdenum, vanadium and lead values was identified (A1 grid). The A1 grid covers a set of three sub-parallel conductors having a combined strike length of 5 km and interpreted to be a single metasedimentary unit that is disrupted by folds and faults. Reconnaissance drilling intersected continuous and significantly anomalous radioactivity within sheared and fault-brecciated basement rocks of graphitic metapelite and pegmatite. One hole intersected a 63 metre interval exhibiting 5 to 10 times background radioactivity including a measured 2,625 cps in schistose graphitic fault breccias. Geochemically, the radioactive graphite schist breccias have anomalous uranium contents up to 3.34 ppm, with interleaved pegmatite bands containing up to 116 ppm uranium. Of the key pathfinder elements, boron correlates most strongly with the uranium anomalies, and is important evidence for the presence of hydrothermal fluids. The pronounced orientation of the soil anomaly and the presence of anomalous uranium and alteration in the basement rocks are strongly reminiscent of the Gaertner, Deilmann and P-Patch uranium deposits.
The West Carswell (8,157 hectares) is situated on the west margin of the Carswell Structure, a multi-ring, roughly circular feature approximately 35 km in diameter that represents a "plug" of uplifted basement material (up to 2 km) within the Athabasca Basin boundary. The Carswell Structure is considered to be of meteorite-impact site or astrobleme. The Harrison Shear Zone is a regional fault/shear zone that forms part of the southwestern margin of the Carswell structure. The shear zone transects the northeastern part of the property and is a significant target for potential uranium deposits. Exploration by Triex comprised airborne and ground electromagnetic surveys and diamond drilling. The electromagnetic surveys outlined a strongly conductive feature named the MP Anomaly (approx. 4.3 km long E/W by 1.2 km wide N/S). Reconnaissance drilling of the MP anomaly intersected evidence of uranium mineralization in the form of fault and hydrothermal breccia zones, elevated to anomalous boron (9-316 ppm) in the sandstone, weakly radioactive zones up to 60 metres wide in sandstones at the unconformity, and haematitic and radioactive basement granitoid rocks. The geophysical surveys also identified conductors associated with the Harrison Shear Zone which have not been drilled.
The 2 million Zadar common shares issuable upon exercise of the option will be subject to a hold period of four months and one day from the date of issue.
Zadar's right to exercise the option is conditional upon several conditions precedent being met, including, but not limited to:
(i) Zadar receiving acceptance from the TSX Venture Exchange (the "Exchange") for filing of notice in respect of the option agreement;(ii) Canterra and Triex receiving all consents, approvals and other authorizations of the Exchange, any applicable regulatory authorities, shareholders and third parties (including, without limitation, the consents of its joint venture partners in the Pasfield Lake, Stony Road, Highrock and Riverlake projects), as may be required in connection with the proposed transaction, and(iii) Thelon Ventures Ltd. waiving its right of first refusal on Triex' interest in the Pasfield Lake Project and consenting to Triex encumbering the properties comprising the Pasfield Lake Project with a 2% NSR Royalty in favour of Canterra.
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
Mark Tommasi, President & Chief Executive Officer
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.
Zadar Ventures Ltd.
President & Chief Executive Officer