Business
Redzone Announces Acquisition of an Option on the Fortner Boyd Lithium Showing Known as the Lucky Mica Claim Group
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 3, 2016) - Redzone Resources Ltd. ("Redzone" or the "Company") (TSX VENTURE:REZ) is pleased to announce that it
About this update from Global Battery Metals Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 3, 2016) - Redzone Resources Ltd. (\"Redzone\" or the \"Company\") (TSX VENTURE:REZ) is pleased to announce that it has entered into a binding letter agreement (the \"Agreement\") with two vendors (the \"Vendors\") providing for the grant to the Company of an option to acquire up to a 100% interest in the property known as the Lucky Mica Claim Group (the \"Property\"). The claims comprising the Property are situated approximately 8 miles south west of the city of Wickenburg in Maricopa County, Arizona. The Property consists of 14 contiguous unpatented lode claims totaling approximately 280 acres. The claims cover the \"Fortner and Boyd Lithium Deposit\" recorded as such by the USGS (United States Geological Survey) as Deposit 10064183 and catalogued as MRDS (Mineral Resources Data System) ID TC38458, hereby referred to as the \"Mineralization\". The Mineralization occurs within a pegmatite dyke in granitic rocks and schists. The dyke contains lithium bearing micas noted as spodumene, amblygonite, lepidolite and beryl. Field visits by a Company representative confirm that the width of the dyke varies between 10 meters and 25 meters and extends in a north south direction for approximately 600 meters. The Mineralization has been explored and developed intermittently since 1950 and during that time a small shaft was sunk to a reported depth of 30ft from which two adits were driven along the footwall both to the north and south. The dip of the dyke noted in the shaft was between 65 and 70 degrees. In addition 12 bulldozer trenches were completed in the 1950's. These are situated at intervals of approximately 50 meters along the strike of the Mineralization varying in depth from 2.0 to 4.0 meters. These have helped define the surface dimensions of the Mineralization. In the archives of the Arizona Geological Society files from the Arizona Department of Mineral Resources contain information recorded by Department Field Engineers after visiting the Property. The reports are from 1952 through 1964. In the 1964 Field Engineers report it states \"75 wagon drill holes were completed at an average depth of 187 feet\". In addition A Mine Owners Report from 1958 states \"Wagon drilling shows the ore body extends 110 ft (in depth) from end to end\". Records show the drilling was completed by the ...