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Red Pine Exploration Inc. (TSX-V: RPX, OTCQB: RDEXF) ("Red Pine" or the "Company") is pleased to provide an update on its 2022 Phase 1 drilling campaign which is progressing faster and with greater efficiency than planned.
- In the first two months of this year, the program has completed over 7,680 meters of drilling, or approximately 30% of the 25,000 meters planned from period January to July 2022.
- Drilling has been focused on resource expansion targets in the Surluga North and South area and has commenced drilling on the Grace-Darwin target, its first blue sky target within the defined program.
- Visual gold has been identified in 6 of the 12 holes (assays pending) completed at the Surluga North, South and in 3 holes in the Darwin-Grace targets.
- At present, the Company has 1,203 assays pending at the lab, representing 32 holes which have either not been previously released or have been partially released. Assays from the Phase 1 program are expected to be received this month and continue thereafter on a regular basis.
" We remain encouraged with our focused and sustained drilling program below the existing Surluga and Minto Mine resource, validating our targeted approach (Figure 1 and 2).
In the Darwin-Grace Mine area, our current drilling has considerably expanded the footprint of the mineralized systems associated with the historic Darwin-Grace Mine . We have indications that the former mine is located at the intersection of at least three different shear zones, and we have observed indicators of gold mineralization in those three structures, including under the historic Darwin-Grace mine (Figure 3).
We have increased our workforce to expedite processing of core. We have begun prioritizing our core logging within our key zones of interest, with shipping of samples to the lab twice a week to expedite the sample positioning into the labs queue." – Quentin Yarie, President and CEO of Red Pine Exploration.
Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5038acb-ee05-4cff-96b1-451c6f51b22a
Figure 2 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23a73611-4063-43b5-9d8c-6495a4b4a02d
Figure 3 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/029fc8eb-87f4-4c8a-903c-21173e71591d
On-site Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security sealed bags for analyses at 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 then 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
Tara Asfour, Investor Relations Manager, (514) 833-1957, tasfour@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.
