Aug 13 2013
VancoZadar Ventures Ltd. (the “Company”) is pleased to announce the commencement of the summer field program on its PNE Uranium Project located in the Patterson Lake area of the Athabasca Basin, northern Saskatchewan.
A detailed compilation of historical data at the PNE Uranium Project has identified this as a project with a high discovery potential for an unconformity or basement hosted uranium deposit at shallow depths, based on lithology, structure, alteration and historical boulder sampling. The inaugural 2013 uranium exploration program is designed to be a reconnaissance/orientation program targeting boulder prospecting/sampling, ground-based geophyscal (scintillometer) surveys and a first pass Alpha-Track Uranium Services radon cup survey. The program will follow up and identify the probable source of historically reported boulders with elevated to anomalous uranium and boron contents (pathfinders for uranium deposits) that have been reported on-property. In specific the southern portions of the PNE Uranium Property will be targeted as previous work has identified undrilled MEGATEM anomalies in these areas. (see Saskatchewan Mineral Assessment Database (SMAD) 74F-0016)). In conjunction with the boulder prospecting surveys, surface sampling for Radon gas, a product of uranium decay, will also be utilized to identify subsurface radioactive anomalies.
Information garnered from this first phase PNE exploration program, will be used to initiate the permitting process towards follow up ground and airborne geophysical surveys and subsequent diamond drilling.
To date, only one hole has been drilled on the project (see SMAD 74F14-0008), and this intersected clay alteration, fracturing and abundant pyrite, indicative of hydrothermal enrichment. The1979 drill hole was collared in the northern portion of the project and was located to test a structural target peripheral to a prominent MEGATEM anomaly. Boulders from this locale contain between 0.14 and 2.02 ppm uranium. The two highest values, nominally 300 metres apart, contain 1.26 and 2.02 ppm uranium. These boulders may be locally derived.
The 15,292 hectares PNE project immediately adjoins the Patterson Lake North project (Azincourt Uranium Inc. (50%)/Fission Uranium (50%)) and is located ~11km NE of the Patterson Lake South project (Fission Uranium Corp./Alpha Minerals Inc.), 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.
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.