For thousands of other reports visit RSC's Mineral Intellingence Map
RedZone Resources Ltd.
Summary
| Project: | Lucky Mica | |
|---|---|---|
| Deposit: | Lucky Mica | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 2/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-2-2017: RedZone Resources Ltd. announces a Supporting Acquisition report for its Lucky Mica deposit at the Lucky Mica project. Summary of property in support of acquisition. RedZone Resources Ltd. (hereinafter "RedZone" or the “Company”) holds twenty f | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jean-Phillippe Paiement (SGS Canada Inc.) | |
| ABSTRACT: | RedZone Resources Ltd. (hereinafter "RedZone" or the “Company”) holds twenty five (25) contiguous LM (lode mining) claims (the “Property”) for a total of 2.066 km2 in the Maricopa County of Arizona. The Property is located approximately 10 km southwest of the city of Wickenburg, Arizona. This report presents a technical review of the geology and the mineralization on the Property. It includes a summary of previous work, a detailed description of the new geological work carried out by RedZone, independent check samples and an exploration targets discussion. Currently, no mineral resources have been estimated or declared on the Property. The claims are staked in the name of Godolphin Mining Inc., an Arizona Corporation controlled by one of the directors of RedZone. Godolphin and Redzone have entered into an option agreement whereby in order to earn an initial 75% interest in the Property, subject to a 0.5% net smelter return royalty (“NSR”). Upon exercising its initial option to earn a 75% interest in the Property, the Company shall have the further option to acquire the remaining 25% interest in the Property, subject to an aggregate 0.667% NSR on the Property (which may be purchased by the Company in consideration of a cash payment of US$1,000,000). The Company can exercise this further option to earn the remaining 25% interest by (i) making an additional cash payment of US$25,000 to the Vendors; (ii) issuing an additional 100,000 common shares of the Company to the Vendors; and (iii) completing additional exploration expenditures on the Property in the aggregate amount of US$400,000 over the ensuing two year period. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report