Redzone defines drilling targets for the Arizona Lithium project

Redzone Resources Ltd.. [ REZ-TSXV; REZZF-OTC] On Monday, May 28, it said it had met all of its previously announced options agreements for the acquisition of 14 Lode statements in Arizona.

The option gives Redzone the right to acquire an equity stake in the LuckyMica claim group, approximately 8 miles south-west of Wickenburg, Maricopa County, Arizona. The claim includes Fortner and Boyd lithium mines.

Under the terms of the option agreement, Redzone issued 100,000 shares to previous creditor holders. Therefore, Redzone's new subsidiary, Arizona Lithium Resources Limited, now owns? What? There are previously selected Arizona property claims.

The total number of claims is now 236 and covers 4,876 acres.

The company is waiting for its intended disturbance permit, which will allow it to begin digging 19 areas at a depth of 20 feet, which were identified as high-priority targets this year during the previous chip sampling program.

The results of the dredging plan are expected to lead to the identification of drilling targets for the next phase of exploration this summer.

All requirements for a mining permit have been submitted and the company expects the permit to be issued shortly. In addition, metallurgical samples will be taken to begin determining whether the material is suitable for processing.

Redzone is an exploration company that focuses on the metals that make up and support the rapid evolution of battery power.

It involves two key items. They are FortnerBoyd lithium assets in Arizona and Lara assets in Peru.

FornerBoyd claims(also known as the LuckyMica claim group) to have been tendered on behalf of the Arizona company GodolphinMingInc.. Godolphin reached an agreement with Redzone, according to which Redzone was granted the right to acquire 100 shares of the property. In return, Redzone agreed to pay $47,500 in cash and issue 300,000 shares to two suppliers.

Under the agreement, Redzone also promised to pay the supplier the net refinery of all the minerals generated, mined or otherwise recovered from the property to return the patent fee of 0.667. It also guaranteed the right to purchase 100 royalties at a price of $1 million.

At the same time, the NI43-101 standard technical report date is February 13, 2017. It shows that the previously found lucky mica pegmatite or rock vein samples have achieved a score of 7.5 <UNK>, and Li 20 from the rich lithium pyroxene-grab samples.

The technical report was prepared with the help of SGS and Paiment of Canada, who visited the property with SGS Canada in January 2017.

Redzone shares fell 4.76 cents, or $0.01, to 20 cents Monday, trading at 88,000. The range of 52 weeks is 10 cents and 75 cents.

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