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Red Pine Exploration Inc. (TSXV:RPX) (“Red Pine” or the “Company”) announces results from 20 holes at its Wawa Gold Project, located approximately 2 kilometres east of Wawa, Ontario.
Red Pine Exploration Inc. (TSXV:RPX) (“Red Pine” or the “Company”) announces results from 20 holes at its Wawa Gold Project, located approximately 2 kilometres east of Wawa, Ontario. The drill holes were part of Red Pine’s 2017-2018 drill program. A new discovery, almost 1 kilometre north of the existing 1M oz inferred resource1 (the Surluga Deposit), demonstrates the potential to expand the gold resource at the Wawa Gold Project. Results also indicate that gold mineralization in the footwall of the Surluga Deposit now extends over a strike length of more than 2.2 kilometres.
Drilling highlights (Table 1):
- New gold zones discovered in the Wawa Gold Corridor:
• RV-18-182 contains 10.17 grams per tonne (g/t) gold over 2.0 metres, 950 metres north of the inferred resource in the Hornblende Shear Zone;
• SD-18-178 contains two zones with higher grade gold, enveloped by lower grade gold mineralization:
• 7.05 g/t gold over 1.0 metre contained in 0.75 g/t gold over 12.6 metres in a discovery zone
• 12.76 g/t gold over 1.1 metres contained in 0.77 g/t gold over 26.0 metres in a discovery zone
• SD-17-167 contains 2.00 g/t gold over 4.6 metres within 1.09 g/t gold over 10.9 metres in the Hornblende Shear Zone
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “Our drilling continues to expand the mineralized footprint of the Wawa Gold Project. We have discovered broad zones of mineralization between the Jubilee Shear Zone, the host of the Surluga Deposit, and the Hornblende Shear (sub-parallel to the Jubilee Shear). We will further investigate these new lenses of high-grade gold in our on-going drilling program as we continue to work towards advancing the existing resource on the project.”
*Assay results reported over intersection length. In the Algoma North, Jubilee Shear Zone and the Minto Mine South Zone, the intersection lengths are estimated to be >55% true width. In the Hornblende Shear Zone, the intersection lengths are estimated to be > 90% true width. Additional drilling is required to estimate the true width of the Minto Stockwork composed of numerous veins with different geometries and of the William Gold Zone.
The map accompanying this announcement is available at https://resource.globenewswire.com/Resource/Download/37df8f91-507a-4cbb-ab45-b74f22c3e712
Discoveries in the Wawa Gold Corridor
Red Pine’s drilling has shown that mineralization in the footwall zones of the Wawa Gold Corridor, that includes the Hornblende, Surluga Road and William Gold Zone, extend over a strike length of more than 2.2 kilometres. Holes SD-17-173 and SD-18-178 represent a 500 metre step-out to the south from any holes drilled to date in the footwall of the Jubilee Shear Zone, and indicate the persistence of mineralization in both the Hornblende and the William Gold Zones.
In the Minto Mine South area, holes SD-17-162 and SD-17-164 represent a 100 metre step-out from the last drilling in the Minto structure, and indicate the persistence of the gold mineralization to the south. The mineralized intercepts in the Minto Stockwork continue to support a wide halo of gold mineralization around the Minto Mine South Zone. Holes RV-18-180, SD-17-118, SD-17-122, SD-17-127, SD-17-132 and SD-17-133 intersected a diabase dyke/fault and therefore did not contain any significant results.
Wawa Gold Project Background
Since December 2014, Red Pine’s exploration work has involved the ongoing 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 45,000 metres of drilling and made four discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone and; the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 kilometres.
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 current program is targeting both the Surluga North discovery and the Minto Mine South Zone discovery.
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.
Qualified Person
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 Operating Manager 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
Or contact:
Quentin Yarie, President & CEO, (416) 364-7024, qyarie@redpineexp.com
Or Mia Boiridy, Investor Relations, (416) 364-7024, mboiridy@redpineexp.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)).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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Source: investingnews.com