Under the terms of the agreement earlier signed, Zadar will pay $50,000 in cash and issue 1,745,000 common shares, while Canterra will retain a 2% NSR on the project with a buyback of 1% for $1m per project.
Pasfield Lake is located on the Pasfield structure, possibly an astrobleme and similar to the Cluff Lake structure, and astride the Cable bay shear zone.
Indications of the presence of uranium-bearing hydrothermal fluids have been identified with exploration by Triex involving lake sediment sampling, soil and biogeochemical sampling, airborne electromagnetic and gravity surveys, and diamond drilling.
Athabasca basin also comprises the Key Lake, McArthur River, Cigar Lake and Millenium uranium mines as well as the Roughrider uranium deposit.
Junior uranium exploration company Zadar Ventures is focused on acquiring and exploring for economically viable mineral resources.
