RedZone Announces the receipt of all Arizona property claims into its newly formed Arizona Subsidiary
VANCOUVER, British Columbia, May 28, 2018 (GLOBE NEWSWIRE) -- RedZone Resources Inc. (TSXV:REZ) (Frankfurt:REZ) (OTCBB:REZZF) (“the Company” or “RedZone”) is pleased to announce that it has satisfied all the conditions under its previously announced option agreement, (see Aug 2nd 2016 press release) relating to the acquisition of 14 lode claims, located in Arizona (“the Option Agreement”). Pursuant to the terms of the Option Agreement, Redzone has issued 100,000 shares (four month hold) to the previous claim holders such that its newly formed subsidiary, Arizona Lithium Resources Ltd., now holds all of its previously optioned Arizona property claims. The claim total now stands at 236 and covers 4,876 acres.
The Company is waiting on its “Notice of Intent to Disturb” permit which will allow it to begin the trenching of nineteen (19) areas, to a depth of 20 feet, that were identified as high priority targets during the chip sampling program conducted earlier this year. The expectation is that the results of this trenching program will result in the identification of drill targets for the next stage of exploration, which is targeted for this summer. All the requirements for the trenching permit have been submitted and the company expects the permit to be issued soon.
In addition, metallurgical samples will be taken to start determining the material’s amenability to processing.
About RedZone
RedZone is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. RedZone’s common shares are listed on the TSX-V: REZ.V, on the Frankfurt exchange: REZ and on the OTC REZZF. More information about the Company is available on its issuer profile on SEDAR at www.sedar.com or at www.redzoneresources.ca. For further information please contact:
Michael Murphy
President and Chief Executive Officer
E: michael.murphy@redzoneresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and/or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or lithium at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.