2013-02-19 14:04:05 -
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Toronto, Ontario CANADA, February 19, 2013 /FSC/ - Zara Resources Inc. (ZRI - CNSX)("Zara") announces that it has received a NI43-101 Technical Report (the "Report") on its Pigeon River property. The Report was prepared by the Sibley Basin Group and authored by Alan Aubut P.Geo.
The Report describes the geology and work done to date on Pigeon River and recommends a further drilling program consisting of diamond drilling along with borehole geophysics with a proposed budget of $170,000. The full report is available on Zara's profile on SEDAR and on its website www.ZaraResourcesInc.com.
The Pigeon River property is located in the Southern Province of
the Precambrian Shield area of northern-western Ontario, and is located approximately 60 km southwest of Thunder Bay, Ontario. The property consists of 28 unpatented mining claims covering approximately 6688 ha. Zara owns 100% interest in the property which is located primarily in Lismore and Hartington Townships, Thunder Bay Mining Division of North-western Ontario. The property is underlain by sediments of the Animikie Group including sulphidic black shale of the Rove Formation and are believed to be host to ultramafic rocks that potentially could host nickel-copper mineralization.
The previous property owner completed an airborne VTEM survey and associated aeromagnetic survey over the property. This was followed by four diamond drill holes totalling 991 m. The work to date indicates that the property is underlain by areas with magnetic signatures indicating the presence of ultramafic rocks. The target model is one of mafic-ultramafic flows with associated nickel bearing magmatic sulphides being hosted by deep water extensional basin sediments. This setting is very similar to other areas of the world hosting world class nickel deposits including the Pechenga area of Russia and the Thompson Nickel Belt of Canada.
Alan Aubut, P. Geo., the author of the Report, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed and approved the content herein. Mr. Aubut is independent of Zara.
About Zara Resources
Zara is a Toronto based mineral company developing its Pigeon River and Riverbank nickel-copper projects in Ontario, Canada, as well as the acquisition and development of other Canadian natural resource properties.
For more information please see www.ZaraResourcesInc.com or contact Danny Wettreich at (647) 931 9775 or firstname.lastname@example.org
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Zara Resources Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CNSX has not reviewed, approved or disapproved the content of this press release
Zara Resources Inc.
208 Queens Quay West,
Phone: (647) 931 9775
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