The Conversation (0)
Zadar Ventures (TSXV:ZAD) has entered into a purchase agreement to acquire a 100% interest in the Patterson North Uranium project, a 7,744 hectare property located in the Western Athabasca basin. The project has road access to Fission Uranium’s (TSXV:FCU) recently optioned Patterson Lake North Project. As quoted in the press release: The PNE Project is […]
Zadar Ventures (TSXV:ZAD) has entered into a purchase agreement to acquire a 100% interest in the Patterson North Uranium project, a 7,744 hectare property located in the Western Athabasca basin. The project has road access to Fission Uranium’s (TSXV:FCU) recently optioned Patterson Lake North Project.
As quoted in the press release:
The PNE Project is a highly prospective property package, which shares magnetic signatures with both Shea Creek and Patterson Lake South. The target-type at PNE is an unconformity or basement hosted uranium deposit; basement depth (depth of investigation) is between 380-600m. The primary target is broad conductive zone, potentially a graphitic horizon or alteration halo, identified through 2006 MegaTEM survey. Just north of the conductor, historic drilling has revealed clay alteration, fracturing and abundant pyrite, indicative of hydrothermal enrichment. On surface, boulders rich in boron, a pathfinder element for uranium deposits, have also been identified.
Zadar will pay $205,000 in cash in the first year, followed by payments totaling $2.8 million and $2 million in exploration over 4 years.
Click here to view the full press release.
