RedZone Resources Announces Selected Float Samples from Newly Identified Spodumene-Bearing Pegmatites on NW Leinster Project Grade 1.78% and 0.99% Li2O Equivalent
TSX VENTURE: GBML
VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) -- RedZone Resources Ltd. (TSX-V: REZ, Frankfurt: REZ, OTC: REZZF) (“the Company” or “RedZone”) is pleased to announce initial results from its due diligence program on the North West Leinster Lithium Property in the Republic of Ireland. Initial field programs have identified new spodumene-bearing pegmatite occurrences grading 8,280 ppm Li (1.78% Li2O) and 4,630 ppm Li (0.99% Li2O) in float boulders on two newly defined target areas.
Due diligence activities carried out from October to December 2018 by Aurum Exploration Services on behalf or LRH Resources Ltd. (“LRHR”), a private exploration company, has included geological reconnaissance float mapping, outcrop checking and prospecting within six initially defined target areas on the NW Leinster block: Glencullen, Tonygarrow, Scurlocks, Sorrel, Knocknaboley and Aghavannagh. The prospecting work has focussed on locating the source of strong stream sediment lithium anomalism identified from legacy Geological Survey of Ireland data.
The recent work has discovered two new areas where spodumene-bearing pegmatite occurrences were previously unknown, with visible spodumene in pegmatites recovered at Aghavannagh and Tonygarrow. In addition to the spodumene mineralization, anomalous lithium bearing aplite, as well as pegmatites with beryl, apatite and orange garnets (indicator minerals for differentiated pegmatites) were also mapped and sampled by the exploration team. The lithium mineralized samples comprise angular to sub-angular float boulders which are estimated to have travelled less than 500 metres from source.
A total of 70 samples were collected during this field programme which (plus three standards and one blank) were submitted to ALS Laboratories for analysis. Laboratory results have now confirmed lithium mineralization at:
- Aghavannagh, where pegmatite float at the granite/metasediment contact (sample AES42977) contained visible fresh spodumene and returned a value of 8,280ppm Li (1.78% Li2O);
- Tonygarrow, where weathered spodumene-bearing pegmatite float also at the granite/metasediment contact (sample AES42942) returned a value of 4,630ppm Li (0.99% Li2O);
- Knocknaboley, where aplitic float (sample AES42905) returned anomalous lithium in the NE zone of the targeted area reporting a value of 820ppm Li.
As a result of the due diligence work and previous prospecting results (see October 23, 2019 News Release), lithium bearing minerals have now been confirmed at five of the six areas targeted by LRHR and RedZone.
RedZone has entered into an option agreement with LRHR which allows it to acquire up to 90% of the North-West Leinster Lithium Property (“NWL Property”) through initial due diligence exploration work and follow up exploration in three stages as per the terms listed in the October 23, 2018, news release.
The NWL Property is located approximately 35km southwest of Dublin. The project is centred within the Leinster Granite Massif within an analogous geological setting to that which hosts International Lithium Company’s Avalonia Project. The Avalonia Project is located approximately 60km further to the south at Aclare, County Carlow, where similarly anomalous lithium-bearing pegmatites and aplites were emplaced along the eastern and southern margins of the Devonian aged Caledonide granites, in structural contact, with Lower Palaeozoic meta-sediments.
The prospecting samples were analysed by ALS Global and the reported lithium values for the 70 field samples collected ranged between 3ppm and 8,280 ppm, with median and average values of 149 ppm and 457 ppm respectively. Analytical results from certified standards and a blank submitted with the field samples reported within acceptable ranges for QA/QC. RedZone, whilst encouraged by the prospecting sample results, note that the selected samples quoted are not necessarily representative of the mineralization hosted on the property.
The next phase of due diligence activity will focus on completing soil geochemistry lines at the Aghavannagh target which will be designed provide both focus to the target itself as well as providing orientation study data on the geochemical and mineralogical expressions above and proximal to spodumene mineralization for application in regional exploration on the rest of the licences.
All scientific and technical information in this press release has been prepared under the supervision of EuroGeol Vaughan Williams M.Sc. P.Geo, a Principal of Aurum Exploration Services who are currently provide exploration services to LRHR 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 Venture Exchange (REZ), on the Frankfurt Exchange (REZ), and on the OTC (REZZF). RedZone currently has three projects: 1) Fortner-Boyd Lithium project in Arizona, 2) North-West Leinster Lithium property in Ireland, and 3) a 55% stake in the Peru based Lara copper property, which has over 10,000 meters 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
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.