Many times companies are borderline abhorrent about their press releases touting potential for whatever it is in their pipeline. There's nothing wrong with an air of confidence, that's fine, but those that go over the top should learn to restrain themselves.
RedZone Resources Inc. (TSX-V:REZ) falls at the is at the far opposite of the spectrum, releasing a piece of news today that literally meant going to the Vancouver-based company's website to see what mineral it is looking for.
The only hint was in the boilerplate, which defines RedZone as "a mineral exploration company with a focus on metals that make up and support the rapid evolution to batteries." (not even "rechargeable" batteries.)
That and the fact that RedZone said that it identified at least 37 additional dyke outcrops at its property in Arizona. Dykes, often vertically or steeply oriented sheet of rock formed in the fracture of a rock body, are often associated with lithium, a principle element in the manufacturing of rechargeable batteries for electric vehicles. A quick look at RedZone's properties shows its Fortner & Boyd claims and Ambly claims in Arizona are indeed lithium properties.
The company says that it has completed a mapping and sampling program in Arizona with a total of 60 samples sent to Skyline Assayer & Labs in Tucson for assay. Once these samples are assayed, RedZone intends to finalize plans for additional exploration, including drilling and trenching.
The benign nature of the news release still resonated with investors, edging shares ahead a penny to 45 cents (+2.27%) in Wednesday trading as the day enters the final hour.
Shares have been in a solid uptrend since the start of December, advancing from 13 cents to as high as 75 cents in January before consolidating to 40 cents recently ahead of this week's rise.
