VANCOUVER, British Columbia, Oct. 12, 2018 — RedZone Resources Ltd. (TSXV: REZ, Frankfurt REZ; OTCBB: REZZF) (the “Company” or “RedZone”) is pleased to announce that it has received assay results from its initial trenching program at the Fortner Boyd lithium project located 6 miles southwest of Wickenburg, Arizona. A total of 246m (810 feet) of trenching in 17 trenches was completed using a backhoe. Trenches were dug at both the Lucky Mica and Dove targets (see map in Figure 1). An attempt was made to excavate to unweathered sub crop in each trench, which varies from 1m to 2.7m in vertical depth. The sub crop material was not conducive for channel sampling using a rock saw so chip sampling by rock hammer was carried out on 1.5m intervals (5 feet) adjusted to the lithological contacts and local ground conditions. A number of the planned trenches had to be modified due the presence of seasonal drainages (washes) and well-established species of vegetation that RedZone was not allowed to disturb under the BLM trenching permit.
Despite the challenging conditions for trenching, some positive results were returned from the program. The trenches confirmed the strike length of 500m of the Lucky Mica dyke with widths ranging from 3m to 15m at surface exposure (see Fig. 1). The Dove was successfully intercepted along a strike length of 120m with widths ranging from 2m to 14m (see Fig. 1). Among the samples taken from the trenches at Lucky Mica, a 3m (10 feet) section of trench LMT-5 returned 0.37% Li2O (Fig.2) and in trench LMT-7, a 1.5m (5 foot) section returned 0.55% Li2O (Fig. 3). Trenching at the Dove occurrence yielded a 1.5m (5 foot) section of trench (trench DT-5) grading 0.62% Li2O (Fig. 4). The other trenches (10 out of 14 trenches) succeeded in exposing the dyke, but no significant Li results were obtained from the chip sampling. The current program confirmed the zoned nature of the lithium mineralization within the dykes, with highest values currently observed in the eastern margins of the dyke. Further investigation by drilling will be more appropriate to characterize the different zonations and the 3D distribution of lithium mineralization in the dyke; since the trenching sampling method failed to properly sample the mineralized material in the dykes. Drilling will ensure that representative samples are taken in the dyke and host rocks.
The above results combined with earlier grab samples show that lithium is present in the dyke and can be used to guide shallow follow-up diamond drilling. This cost-effective trenching program will be followed up by an initial diamond drilling program that will test below lithium mineralization in trenches in the Lucky Mica and Dove areas. The drill permit has been approved and the bond has been accepted, and we expect the actual permit to be issued imminently. An initial first phase of drilling, comprising seven (7) drill holes for a total of 520m will be conducted to assess the presence and zonation of the mineralization. Based on the results of this initial phase an additional seven (7) holes are planned to test for mineralization along the full currently mapped strike of the Lucky Mica dyke. The drilling program once mobilised is expected to take approximately 30 days. The drilling will be supervised by David J. Lajack, P. Geo, BSc from Tucson, AZ, who has over 30 years of experience in lode mineral exploration. He has managed numerous core drilling programs in the western US and Alaska for Canadian Junior explorers and for private US companies. Altar Drilling Inc. (“Altar”) has been contracted to conduct the drilling. Altar is a privately owned American core drilling company based in Tucson, Arizona, with over 10 years of experience in the western USA and Alaska. Altar employs an environment-friendly, tracked core rig. The drill is self-propelled and often does not require any road building or pad construction.
RedZone is funded to carry out this drill program.
QAQC standards were submitted with the trench samples and results verify the analytical results. The field duplicates also confirm the precision of the analytical results. All samples were analyzed for 47 elements using Trace Elements by Multi Acid (with HF) near total digestion, ICP-OES/ICP-MS analytical package at Skyline Labs in Phoenix. Due to the nature of the sub crop and the sampling method, the trenching results cannot be used for resource estimation purposes.
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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. RedZone currently has two projects 1) Fortner-Boyd Lithium project in Arizona, 2) a 55% stake in the Peru based Lara copper property, which has over 10,000 metres of drilling. 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: [email protected]
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.
Figures accompanying this announcement are available at