Square's countdown is for Spelunker Z?

Square has had a teaser up recently for something called Project Code Z. I'd long since given up assuming Square would do anything else serious of the Vita, so didn't bother mentioning it, but it turns out the game could be Spelunker Z - a remake of Spelunker HD which was a do over of the classic. So, I was right!

Since nothing in gaming can touch Mossmouth's Spelunky - which I still play in the vague hope of ever clearing out the bosses, I'm not exactly worried about this, even worse if its remains a free to play IAP fest? Now if they'd bring Type-0 to the Vita, then I'd raise an eyebrow.