Zadar has signed a definitive purchase and sales agreement with Canterra Minerals, Triex Minerals, a wholly owned subsidiary of Canterra, and Magnum Uranium, for the acquisition of Stony Road project.
Under the terms of the agreement, Canterra and Magnum Uranium will receive common shares of 25,000 and 15,000 respectively from Zadar.
Canterra, as part of the accord, will also retain a 2% NSR on the project with a buyback of 1% for $1m.
The 10,545h Stony Road uranium projects conductor confirmed as a graphitic and pyritic metapelitic gneiss while historic exploration included regional geochemical sampling, airborne and ground electromagnetic/ gravity surveys and diamond drilling.
Junior uranium exploration company Zadar Ventures is a focused on acquiring and exploring for economically viable mineral resources.
