PNE Project
The PNE project (15,292 hectares) comprises the contiguous PNE, Bullrun A and Bullrun D claims. Zadar has an option to acquire a 100% interest in this road accessible project. This is a project with high discovery potential for uranium mineralization. The target-type is unconformity or basement hosted uranium deposits at shallow depths. The project contains a number of MegaTEM anomalies indicating broad conductive zones, potentially graphitic horizons or alteration halos. As well, boulders with elevated to anomalous uranium and boron contents (pathfinders for uranium deposits) occur on-property. These have not yet been traced to source. Only one hole has been drilled on the project. This showed clay alteration, fracturing and abundant pyrite, indicative of hydrothermal enrichment.
The PNE project 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. Drilling has identified high grade uranium in bedrock in 3 separate pods and results include an intersection of 49.5 metres @ 6.26% U3O8 including 6.0 metres @ 35.0% U3O8 (Alpha Minerals Inc. news release of April 24, 2013). The project also lies ~27km southeast of the Shea Creek deposit (UEX Corp./AREVA), which has a reported U3O8 mineral resource estimate of 67.66 million pounds indicated and 28.19 million pounds inferred, at a cut-off grade of 0.30%. (http://www.uex-corporation.com/s/shea_creek.asp?ReportID=477100) The PNE project also adjoins the Patterson Lake North project (Azincourt Uranium Inc. (50%)/Fission Uranium (50%)).
The PNE project lies within a large basin scale NE trending gravity low structural corridor. The former Cluff Lake mine (>60M lbs U3O8 produced) and the UEX-Areva Shea Creek deposits (42 km and 27 km to the north respectively) lie along the western margin of this structural feature. The recently discovered high-grade uranium mineralization found at the Patterson Lake South project also lies within this structural corridor.
The technical information contained within this website has been reviewed and approved by Vice-President Exploration, Kieran Downes, P.Geo., a qualified person as defined by NI 43-101.