Zadar Options 5 Strategically Located Uranium Projects in the Athabasca Basin

Zadar Ventures (TSXV:ZAD) has entered into an option agreement with Canterra Minerals Corp and Triex Minerals Corp (a wholly owned subsidiary of Canterra) whereby Zadar has the option to acquire all of the Canterra/Triex interest in 5 uranium projects. The projects,  equaling 67,561 hectares in the prolific Athabasca basin, come with over $15 million in exploration data. Per the agreement, Zadar will make $50,000 in cash payments along with 2 million in common shares. Canterra will retain a 2 percent NSR on the projects with a buyback of 1 percent for $1 million per project.

According the to company’s press release:

Four of the projects (Pasfield Lake, Stony Road, Riverlake, Highrock) lie in the eastern Athabasca Basin, which has proven to be the most prolific and productive area, to date, for uranium mines and discoveries (Figure 1). This area contains the Key Lake, McArthur River, Cigar Lake and Millenium uranium mines as well as the Roughrider uranium deposit discovered by Hathor Exploration Ltd. and sold to Rio Tinto for $654 million in 2012. The five Canterra/Triex projects augment Zadar’s Upper Poulton project (see News Release of April 9, 2013) and will give Zadar exposure to a variety of geological settings with high discovery potential. The fifth project (West Carswell) is situated 13 km west of the past producing Cluff Lake uranium mine (62.5 million lbs. U3O8 during its successful 22 years of operation).

Click here to view the full press release.