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Red Pine Exploration Inc. (TSXV:RPX) (“Red Pine” or the “Company”) announces results from its 2019 channel sampling program in the Cooper Shear Zone that was completed last month.
Red Pine Exploration Inc. (TSXV:RPX) (“Red Pine” or the “Company”) announces results from its 2019 channel sampling program in the Cooper Shear Zone that was completed last month. The Cooper Shear Zone is part of the Cooper Deformation Corridor, located 1 kilometre east of the Surluga Deposit and 2.8 kilometres northeast of the Minto Mine South Deposit. The Company issued a new resource estimate for the two deposits last month (National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019). The Surluga Deposit has an indicated resource of 205,000 ounces gold grading 5.31 g/t gold and an inferred resource of 396,000 ounces grading 5.22 g/t gold. The Minto Mine South Deposit has an indicated resource of 25,000 ounces gold grading 7.5 g/t and an inferred resource of 75,000 ounces gold grading 6.6 g/t gold.
The Cooper Mine ceased production in 1938, and milled just over 4,400 tonnes at an average grade of 11.4 g/t gold. Geologically, the mineralized gold structures of the Cooper Deformation Corridor are similar to the Minto Mine South Structure that hosts the Minto Mine South Deposit.
Channel sampling highlights (Figure 1; Tables 1 and 2):
- The mineralized strike length of the Cooper Shear Zone extends for at least 700 metres;
- High-grade gold occurs within the Cooper Shear Zone over a strike length of 560 metres:
• Channel sample CG-1-2 contains 33.6 g/t gold over 1.4 metres;
• Channel sample CG-1-1 contains 26.9 g/t gold over 0.5 metres, and
• Channel sample Cooper 3-1 contains 9.6 g/t gold over 5.4 metres including 34.1 g/t gold over 1.05 metres;
• Channel sample Cooper-5b-2 contains 14.1 g/t gold over 1.4 metres. - Red Pine discovered an additional two (2) shear zones parallel to the Cooper Shear Zone that contain high-grade gold mineralization
- Channel sample Cooper-11-2 in Cooper 11 Shear Zone contains 12.8 g/t gold over 0.4 metres; and
- Channel sample Ganley-1-2 in Ganley Shear Zone contains 6.3 g/t gold over 1.1 metres.
Quentin Yarie, President and Chief Executive Officer of Red Pine, stated, “The results of our channel sampling program have exceeded our expectations as it shows that high-grade gold exists over a strike length exceeding 550 metres in the Cooper Shear Zone. In addition, we identified two parallel structures that appear to host high-grade gold zones, the Cooper 11 and the Ganley Shear Zone. We have started actively drilling the Cooper Shear Zone and the adjacent structures to extend, at depth, the promising zones of high-grade gold mineralization that were discovered.”
Table 1. Locations of the trenches with significant results in the Cooper Deformation Corridor
Table 2. Significant results from the channel sampling in the trenches in the Cooper Deformation Corridor
*Assay results in the Cooper Structure presented as channel sampling length. For most trenches, channel sampling was done as close as possible to perpendicular to the strike of the structures. However the presence of topographic irregularities at surface makes the estimation of true width difficult. Diamond drilling is necessary to constrain the true width of the zones of mineralization in the Cooper Deformation System.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb10928c-442c-430f-b33d-635bcacbed6b
Geological attributes of the Cooper Structure
Red Pine’s 2019 trenching in the Cooper Shear Zone defined the footprints at surface of high-grade gold mineralization in the Cooper Shear Zone and characterized the geological controls on the geometry of the high-grade gold zones. The trenching program also validated the similarities between the Cooper Shear Zone and the Minto Mine South Shear Zone that is hosting the Minto Mine South Deposit. The mapping of the trenches in the Cooper Shear Zone showed that the geological structures, the mineralogy of the veins and the nature of the sulfides are similar to what is observed in the Minto Mine South Shear Zone.
In addition, Red Pine discovered two additional structures that are similar to the Cooper Shear Zone, the Cooper 11 and the Ganley Shear zones. Both structures are mineralized and could possibly contain zones of high-grade mineralization similar to the ones discovered in the Cooper Shear Zone.
Short-wave infrared data acquired on tourmaline in the quartz veins of the Cooper Shear Zone, as well as on the tourmaline in the Cooper 11 and the Ganley Shear zones indicates that the tourmalines of the Cooper Deformation Corridor are compositionally similar to the tourmalines in the Minto Mine South structure. Chemically, the elevated bismuth in the high-grade samples of the Cooper Shear Zone also correspond to the elevated bismuth in the higher grade zones of the Minto Mine South structure.
Red Pine’s Fall 2019 Drilling Program
Red Pine is currently drilling at the Cooper Structure to define the extension, at depth, of the zones of high-grade mineralization that were identified in the Cooper Shear Zone. This program will be followed by drilling at the Surluga Deposit to prove its continuation to depth, beyond the footprint of the current resource,
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Channel 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
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: www.globenewswire.com