RedZone Resources announces the commencement of its trenching program at the Fortner Boyd Lithium property in Arizona
VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- RedZone Resources Ltd. (TSX-V:REZ) (Frankfurt:REZ) (OTC:REZZF) (“the Company” or “RedZone”) is pleased to announce the commencement of its trenching program on its 100% owned Fortner Boyd Lithium exploration property in Arizona. The objective of the trenching program is to channel sample multiple pegmatite outcrops which will assist in identifying drill targets hosting lithium mineralisation. Trenching will also enable the Company to gather samples from below surface that have been less affected by weathering, which may have diluted the Lithium grades of the previously collected surface samples.
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The trenching team mobilized July 23, 2018 and completed the first trench of the Lucky Mica Dyke on the first day of work (Trench LMT-2; see attached map). The crew have now begun work on the second trench (LMT-3; also on attached map). Trenching is being conducted by EEC Corp, an Arizona company based out of Tucson, Az.
The first two trenches (LMT-2 and LMT-3) were planned over surface expressions of lithium bearing pegmatite outcrops, with surface sampling results including 0.31%, 0.69%, and 5.11% Li2O in grab samples (see map). Trench LMT-2 trench was excavated perpendicular to the strike direction of the Lucky Mica dyke. The trench is approximately 1.5 m in width and was dug to a depth of approximately 1.5 m to reach fresh rock exposure. Preliminary observation on LMT-2 show the pegmatite having a thickness of 15 meters with visible spodumene mineralization in the outer margins of the dyke. The center zone is mainly composed of feldspar.
The trenching program will be carried over approximately 20 working days and will focus on excavating and sampling up to 19 trenches. Trench samples will be collected at intervals of 5 feet (1.5 m); adjusted to geological contacts. Samples will be sent to Skyline laboratory in Tucson, Az, for lithium assaying by ICP. QAQC samples including blanks, standards and field duplicates will be inserted through the sampling stream at a rate of 5% of the total sample count. A preliminary metallurgical composite will also be assembled using the channel samples to assess recovery and concentrate mineralogy and quality.
Results will be analyzed by our lead geologist, Mr. Jean-Philippe Paiement, P.Geo., M.Sc., and will be used to inform the drilling program planned for later this year; with the objective of defining an initial mineral resource on the Property. Definition of any such resource will be subject to success in this drill campaign.
The budget for the trenching program is estimated at $100,000 USD. RedZone currently has $1.3 million CAD in its treasury.
All scientific and technical information in this press release has been prepared under the supervision of Bernie Stannus, P. Eng. a consultant to EEC, and a “qualified person” within the meaning of National Instrument 43-101.
About RedZone Resources
RedZone Resources 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, 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b4891bf7-1faf-4799-9eee-f3c126c79db5