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Red Pine Exploration Inc (TSXV:RPX)(“Red Pine” or the “Company”) announces new results from its delineation drilling of the Surluga Deposit (“Surluga” or the “Deposit”). The Surluga Deposit1 is one of two (2) known resources, identified to date, on the large 6,519 hectares Wawa Gold Property, located near Wawa, Ontario.
Red Pine Exploration Inc (TSXV:RPX)(“Red Pine” or the “Company”) announces new results from its delineation drilling of the Surluga Deposit (“Surluga” or the “Deposit”). The Surluga Deposit1 is one of two (2) known resources, identified to date, on the large 6,519 hectares Wawa Gold Property, located near Wawa, Ontario. These latest results will be included a revised NI 43-101 resource estimate for the Deposit that is expected to be issued in Q2 2019.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “The discovery of significant mineralization, both in width and grade, outside of the current footprint of the inferred resource, indicates that our understanding of the deposit has increased substantially. The holes reported here are filling numerous gaps in the Surluga Deposit that were never explored before, but are adjacent to the existing underground infrastructure of the Surluga and Jubilee Mines. Assay results for another 23 drill holes are still pending. Visible gold, and arsenopyrite, typically associated with zones of stronger gold mineralization in the Surluga Deposit, were also observed in those pending holes.”
Drilling highlights (Table 1):
- Discovery of high-grade gold in delineation holes of the Surluga Deposit:
° Hole SD-18-243A contains 14.3 g/t gold over 7 m (true width) including 42.2 g/t gold over 2 m (true width);
° Hole SD-18-244 contains 5.4 g/t gold over 4.8 m including 6.7 g/t gold over 3.1 m (true width);
° Hole SD-18-248 contains 7.3 g/gold over 2.8 m (true width). - Discovery of significant mineralization in gold zones above the Jubilee Shear in the extension of the Minto B Shear:
° Hole SD-18-247 contains 1.1 g/t gold over 51.4 m including:
• 2.3 g/t gold over 17.7 m,
• 8.3 g/t gold over 1.2 m,
• 5.1 g/t gold over 2 m, and
• 6.7 g/t gold over 3.1 m.
Red Pine’s work to improve its understanding of the geological factors that control higher-grade gold mineralization in the Surluga Deposit has enabled the Company to identify zones where significant gold mineralization can be expected. Holes SD-18-243A, 244 and 248 targeted one of these areas (Figure 2). Red Pine’s delineation program has both expanded and discovered zones of gold mineralization in both the hanging wall and footwall in the Jubilee Shear Zone. This includes, as noted above, a wide zone of gold mineralization intersected in the Minto B structure.
Infill and confirmation drilling in the Jubilee Shear Zone
Red Pine’s 2018 diamond drill program, from July to early January 2019, targeted strategic areas in the Surluga Deposit where geological modelling suggested that high-grade mineralization would be discovered. Drilling results to date support the potential for the Surluga Deposit to host a higher-grade gold resource, accessible using the existing underground developments of the Surluga Mine. Recent drilling is also confirming that additional gold zones exist below the Jubilee Shear Zone (host of the Surluga Deposit) and that higher-grade mineralization can be found in those gold zones. Gold assays results for 23 holes completed in the Surluga Deposit are still pending. The Company remains on track to deliver an updated resource estimation for the Surluga Deposit in Q2 2019.
*Results in the Minto B Shear Zone are presented as core length. Because of the complex superimposition of different tectonic fabric in the Minto B structure, additional drilling is required to define the geometry of the mineralized zones contained in the Minto B Shear Zone.
Figure 1. Plan map of drilling results
Figure 2. Schematic longitudinal section of the Surluga Deposit
Wawa Gold Project Background
Since December 2014, Red Pine’s exploration work has involved the ongoing sampling of 42,000 m of historic core that was never sampled by previous operators of the project, and exploration drilling campaigns. To date, the Company has completed over 59,000 m 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 Wawa Gold Corridor.
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/17d5bb7b-e6bf-41fd-ab28-4a940e7439c9
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c71986a-c9f8-4866-a35a-39f5afea3de7
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Source: globenewswire.ca