Red Pine Exploration Inc (TSXV:RPX) (“Red Pine” or the “Company”) has received results for historic holes sampled as part of its 2018 Historic Core Sampling Program at its Wawa Gold Project, located in Wawa, Ontario.
Red Pine Exploration Inc (TSXV:RPX) (“Red Pine” or the “Company”) has received results for historic holes sampled as part of its 2018 Historic Core Sampling Program at its Wawa Gold Project, located in Wawa, Ontario. To date this year, the Company has logged and sampled over 13,200 metres of historic core that was drilled by previous operators. Assay results from 10,400 metres of this historic core indicate that significant amounts of gold are present in 41 holes that were previously considered barren (Table 1).
- 22.8 g/t gold over 1.74 metres (calculated true thickness) in the Surluga Deposit in S287;
- 14.5 g/t gold over 0.6 metres (core length) in a new zone above the Surluga Deposit in S280.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “Our sampling program continues to prove that many previously unsampled zones not only contain gold, but are substantially mineralized with grades up to 22.8 g/t gold over 1.74 metres. These zones were given a value of “0” in the last resource calculation. The discovery of additional gold in the unsampled historic core will improve the continuity of the gold zones in the Surluga Deposit by removing some of the artificial boundaries that were previously put in place. In this regard, any value of gold other than “0” will have a positive impact on the future resource model.”
Sampling of historic core
Red Pine’s sampling of 42,000 metres of historic core (from 318 underground and 119 surface drill holes), initiated in December 2014, continues to add gold in the Jubilee Shear Zone, as well as in the footwall and hanging wall of the Surluga Deposit1. The spatial distribution of the historic boreholes with notable gold weighted average increases is expected to positively change the current deposit model (Fig 1).
On-going Drilling Program
Red Pine’s 2018 diamond drill program is focused on in-fill drilling the strategic areas of the Surluga Deposit where no historic holes were available for sampling, or in areas that were not drilled historically. The program, developed in collaboration with Golder Associates, is designed to maximize its impact on the Surluga Deposit and future resource calculation.
Table 1 – Highlights of the Historic Core Sampling Program
|Structure||From (m)||To (m)||Intersection
*Calculated using the calculated true width of the intersection
Wawa Gold Project Background
Since December 2014, Red Pine’s exploration work has involved the sampling of 42,000 metres of historic core that was never sampled by previous operators of the project and aggressive drilling campaigns. To date, the Company has completed over 54,200 metres of drilling and made five discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone, the Minto Lower Zone; and the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor.
The Company is well positioned to fund its share of the Wawa Gold exploration program. As such, the sampling and drill programs are expected to continue through 2018.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.
Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company’s common shares trade on the TSX Venture Exchange under the symbol “RPX”.
Red Pine has a 60% interest in the Wawa Gold Project with Citabar LP. holding the remaining 40% interest. Red Pine is the operator of the project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com.
Quentin Yarie, President & CEO, (416) 364-7024, firstname.lastname@example.org
Or Mia Boiridy, Investor Relations, (416) 364-7024, email@example.com
1NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)).
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This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Figure 1. Overview of % increases in gold weighted average in historic drill holes
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/66189857-6a84-42c9-a1af-b85b427d7b8b