TORONTO, Oct. 10, 2018 — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces results from nineteen holes at its Wawa Gold Project, 2 kilometres (km) east of Wawa, Ontario. The drill holes were part of Red Pine’s 2017-2018 drill program to test the southern extension of the Minto Mine South Zone.
Drilling highlights (Table 1):
- Discovery of high-grade gold in the southern extension of the Minto Mine South Zone:
- 7.15 g/t gold over 5.1 metres, including 33.73 g/t gold over 1 metre in hole SD-18-222;
- 3.30 g/t gold over 15 metres including including 9.93 g/t gold over 2.9 metres and 12.52 g/t gold over 1.2 metres in SD-18-223.
- Discovery of numerous/multiple gold veins in the Minto Stockwork
- 14.7 g/t gold over 1 metre in SD-17-145;
- 19.4 g/t gold over 1 metre in SD-18-225.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “This last round of assay results confirms that high-grade mineralization persists in the southern extension of the Minto Mine South Zone. The results are expected to have a positive effect on the forthcoming NI 43-101 resource of the Minto Mine South Zone.”
Table 1. Highlights of the 2017-2018 drilling results in the Minto Mine South Zone
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|Hole||From (m)||To (m)||Length (m)*||Gold (g/t)||Gold Zone|
|256.0||261.1||5.1||7.15||Minto Mine South Zone|
|SD-18-223||156.9||171.9||15||3.3||Minto Mine South Zone|
|SD-18-226||250.9||252.0||1.1||3.31||Minto Mine South Zone|
*Assay results reported over intersection length. In the Minto Mine South Zone, the intersection lengths are estimated to between 70-95% true widths. In the Minto Stockwork, additional drilling is necessary to estimate the true width of the intersected zones.
Figure 1. Plan map of drilling results
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b58b3dca-733f-4f0e-8b48-5057d5874f31
Southern extension of the Minto Mine South Zone Holes SD-18-222 and SD-18-223 indicate that high-grade mineralization persists in the southern extension of the Minto Mine South Zone. Hole SD-18-226 indicates that the main Minto vein persists 80 metres down-plunge of SD-18-222. Holes SD-18-222 and SD-18-225 also intersected multiple gold-bearing veins in the Minto Stockwork, located above and below the Minto Mine South Zone. Holes SD-18-201, 203, 204, 205, 206, 216, 221, 224 and 227, drilled in the Minto Mine South Zone, did not contain significant results. Holes SD-18-209, 210, 211 were testing the near-surface extension of the Minto Mine South Zone, 150 metres up-dip of SD-18-223. They were drilled outside the main plunge of the Minto Mine South Zone and did not intersect significant mineralization. Holes SD-18-214, 215 and 216 were exploration holes testing the extent of the Minto Lower Shear Zone. The holes successfully intersected the Minto Lower structure, but did not intersect the higher grade zones of the structure.
Wawa Gold Project Background Since December 2014, Red Pine’s exploration work has involved the 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 55,000 metres of drilling and made five discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone, the Minto Lower Zone; and the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource1 and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor.
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, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]
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.