Red Pine Exploration Provides Wawa Gold Project Update
TORONTO, ONTARIO--(Marketwired - Jun 2, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) (the "Company" or "Red Pine") wishes to provide a summary of work completed and highlight findings at its Wawa Gold Project, located about 2 kilometres east of Wawa, Ontario.
During the Winter/Spring 2015 programs, Red Pine completed more than 5,594 metres of drilling on the Surluga deposit ("Surluga") which to-date, is the largest gold deposit identified on the property. In addition to providing infill drilling results for an updated 43-101 technical report due to be released next week, the programs identified that gold at Surluga is principally distributed in a series of high-grade, 5 to 30 metre-thick ore shoots surrounded by halos of lower grade gold mineralisation.
Quentin Yarie, President and Chief Operating Officer commented, "Our exploration programs have confirmed the presence of high grade gold mineralization at Surluga in what was previously thought to be barren rock. The understanding and discovery of high-grade gold shoots within and beyond the Surluga deposit is significant. It tells us that there is potential here for a large deposit that could be exploited through a combination of open-pit mining for the near-surface gold zones and underground mining for the deeper ore shoots."
Additional zones of gold mineralization have also been identified in the hanging wall and footwall of the Surluga deposit. The Hornblende shear zone located 300 metres west of the Surluga shear, has the potential to host gold ore shoots of similar size as the shoots identified at Surluga. Both the Hornblende shear zone and the Minto shear/vein system, located 300-400 metres east of the Surluga deposit have the potential to increase the Surluga deposit gold resource.
Hanging wall mineralization outside the Surluga deposit include:
- 2 metres @ 13.65 grams per tonne gold (Minto B shear zone - SD-15-07),
- 12.16 metres @ 3.39 grams per tonne gold (Minto B shear zone - U1509L5),
- 2 metres @ 5.66 grams per tonne gold (Minto C shear zone - SD-14-06), and
- 4.12 metres @ 3.32 grams per tonne gold (Unnamed shear zone above 6-5 ramp - S214).
Footwall mineralization outside the Surluga deposit include:
- 1 metre @ 51.7 grams per tonne gold (tension quartz veins - SD-15-11),
- 10.27 metres @ 3.01 grams per tonne gold (Hornblende shear zone - U0007L7), and
- 9.85 metres @ 3.16 grams per tonne gold (Hornblende shear zone - U1116L3).
Red Pine has also identified multiple gold bearing-structures on the property, all with evidence of high-grade gold mineralisation. The exploration targets related to the numerous historical gold mines and showings on the property will be the focus of the next drilling program as the Company looks to increase the property's gold inventory.
Further updates including timing of future drill programs will be issued over the next few weeks.
Wawa Gold Project Highlights
- Advantageous land position in an under-explored gold camp;
- Proximity to established regional infrastructure (roads, rail, airport, high voltage power lines, water);
- Property hosted eight past producing mines with average grades of 8.9 grams per tonne gold;
- Inferred resource of 1,072,335 ounces at 1.49 grams per tonne gold contained in 22.355 million tonnes (Surluga Deposit), open along strike and at depth;
- Strike length continuity for some gold-bearing structures exceeding 2.5 kilometres with continuous gold mineralisation;
- Strong indications for stacking of gold-bearing shear zones and high-grade quartz veins in the footwall and hanging wall of the Surluga deposit (Jubilee shear zone)
Qualified Person
Quentin Yarie, PGeo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is responsible for overseeing all aspects of the company's exploration programs.
About Red Pine Exploration Inc.
Red Pine Exploration 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".
The Mineral Resource is disclosed in the NI 43-101 technical report titled "Amended Technical Review and Mineral Resource Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada for Augustine Ventures Inc." dated October 12, 2012 and prepared by Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of Watts, Griffis and McOuat, Consulting Geologists and Engineers. The report is available on www.SEDAR.com under Augustine's profile.
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. Forward-looking statements are statements which relate to future events. 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.
Contact
Red Pine Exploration Inc.
Quentin Yarie
President & COO
(416) 364-7024
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com
