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Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to report new results from its 2022 Phase 1 exploration program in the Minto Mine South Deposit. Red Pine drilling continues to increase the footprint of mineralization within the Minto Mine South Deposit.
Highlights
- Intersection of 17.49 g/t Au over 5.82 meters, including 50.12 g/t Au over 1.93 meter, in a gap in the current resource of the Minto Mine Deposit in SD-22-377.
- The intersection is located 30 meters up-plunge of the intersection of 68.71 g/t Au over 4.72 meters in SD-22-373 (see news release of July 14, 2022).
- Intersection of 21.10 g/t Au over 3.25 meters, including 44.63 g/t Au over 1.25 meter, in the Minto Stockwork surrounding the Minto Vein in SD-22-373.
- Visible gold observed in SD-22-371 that infills a gap in the current resource of the Minto Mine deposit (assays pending).
Quentin Yarie, President, and CEO of Red Pine Exploration commented: " The Minto mine drilling results demonstrate that the current Minto Mine Resource is likely of higher grade than currently calculated. Increased drill density of the Minto Mine South Deposit is mitigating the nugget affect we are conscious of. These recent drill results represent an important step forward on our progress expanding the current resources at the Wawa Gold Project. Based on our results the high-grade Minto mineralization could very well become an exciting focal point for Red Pine.
With continued drilling success, we anticipate updating the Minto Mine South resource in the following fiscal year."
High-grade gold in the Minto Mine Deposit
Red Pine continued to infill strategic gaps in the current resource of the Minto Mine Deposit. In SD-22-377, high-grade gold mineralization was intersected in a gap in the Minto resource 30 meters up-plunge of the intersection of 68.71g/t gold over 4.72 meters in SD-22-373 (Table 1; see press release of July 14 th , 2022). In addition, SD-22-373 identified a network of high-grade quartz veins above the Minto Mine Shear Zone. In SD-22-371, located down-plunge of the intersection in SD-22-373, visible gold was observed in the Minto vein, but assays remain pending.
Table 1– Minto Mine Deposit (refer to Figure 1)
| Hole | From (m) | To (m) | Length (m)* | Est. True Width (m) | Visible Gold | Gold (g/t) | Zone |
| SD-22-373 | 145.25 | 148.50 | 3.25 | Yes | 21.10 | Minto Stockwork | |
| Including | |||||||
| 145.25 | 146.5 | 1.25 | 44.63 | ||||
| 147.49 | 148.50 | 1.01 | Yes | 17.68 | |||
| 159.45 | 164.17 | 4.72 | 3.45 | Yes | 68.71 | Minto Mine Shear Zone (released on July 14 2022) | |
| Including | |||||||
| 161.15 | 162.10 | 0.95 | 0.69 | Yes | 80.80 | ||
| 162.10 | 163.16 | 1.06 | 0.77 | Yes | 231.5 | ||
| SD-22-377 | 171 | 176.82 | 5.82 | 3.93 | Yes | 17.49 | Minto Mine Shear Zone |
| Including | |||||||
| 171.96 | 172.92 | 0.96 | 0.65 | Yes | 46.48 | ||
| 172.92 | 173.89 | 0.97 | 0.66 | Yes | 53.72 | ||
| * In the Minto Stockwork, the intersection is estimated to represent over 40 % true width . | |||||||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90b4e224-309d-4ade-8eeb-765ce7e5a21c
Additional Pending Results
Red Pine is actively continuing its exploration program. The company is awaiting results from the Surluga North, Surluga South and Jubilee Shear Zone south of the Parkhill Fault.
Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and shipped. The residual 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. and Chief Executive Officer of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed, and approved the news release's technical information.
COVID-19 Precautions
Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure our employees' and contractors' safety, thereby reducing the potential for community contact and spreading of the virus.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF".
The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. The Company's Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold and Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.
For more information about the Company, visit www.redpineexp.com
Or contact:
Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com
Or
Carrie Howes, Director Corporate Communications, (416) 644-7375, chowes@redpineexp.com
1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.
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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