Red Pine Forms Technical Advisory Committee and Appoints Renowned Industry Veterans
TORONTO, ONTARIO--(Marketwired - Sept. 8, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") is pleased to announce that it has formed a Technical Advisory Committee comprised of experienced industry professionals who are external advisors to the Company and will assist Red Pine's Management and Board of Directors in advancing the Wawa Gold Project. The following well respected mineral exploration and mining industry veterans have been appointed to the Committee: Mr. Jean-Philippe Desrochers,
Dr. James Franklin, and Mr. Mackenzie (Mac) Watson.
Mr. Jean-Philippe Desrochers, Ph.D., P.Geo., has over twenty years of experience in the mineral exploration industry in Canada, Central and South America. Dr. Desrochers has been involved with intermediate and junior mining companies with exploration projects ranging from grass-roots to mine-scale. He was Vice-President of Exploration at the Windfall Lake Gold Project for Murgor Resources Inc. from 2005 to 2010, and joined Eagle Hill as Chief Geologist in 2010 before becoming Vice-President Exploration for Eagle Hill in 2013. Past experience also includes senior positions with Aur Resources and SRK Consulting. Dr. Desrochers specializes in the field of structural geology applied to ore deposits in the search for Archean lode gold, volcanogenic massive sulphides, porphyry copper, skarn, and epithermal gold deposits.
Dr. James (Jim) Franklin, Ph.D., FRSC, P.Geo., is a renowned and award winning exploration geologist with over 40 years of extensive geological knowledge and expertise focusing on discovering base metal, uranium, and gold-bearing ore deposits. His career in the mineral industry has involved teaching at the university level, and directing research programs for the Geological Survey of Canada as Director of the Survey and as its Chief Geoscientist from 1993 to 1998. Dr. Franklin was past President of both the Geological Association of Canada and the Society of Economic Geologists. He was a Co-editor of Exploration and Mining Geology for CIM and was also Associate Editor of Economic Geology (trade journal) for seven years. He serves as a Fellow of the Royal Society of Canada and is an Adjunct Professor at Queen's, Laurentian and Ottawa university. Dr. Franklin is an expert on gold and VMS deposits in the Churchill and Superior Provinces of the Canadian Shield.
Mr. Mackenzie (Mac) Watson, BSc., P.Geol., P.Eng., has over 50 years experience in the exploration, development, and mining industry, and has been involved in the discovery of numerous mineral deposits in Canada. He is currently Honorary Chairman of the Board of Directors of Quest Rare Minerals. Mr. Watson spent his career in the junior mining sector, as CEO of Lynx Canada Exploration from l969 to 1985, and CEO of Freewest Resources from 1985 until 20l0 when it was taken over by Cliffs Natural Resources. Mr. Watson was awarded Canada's Prospector of the Year Award in 1991 for his contribution to the discovery of the Harker Holloway gold mine (Ontario), the Icon-Sullivan copper mine (Quebec), the Long Lake zinc mine (Ontario), the Ellison gold deposit (Quebec) and the Hebecourt copper deposit (Quebec); and again in 2010 for his contributions to the mineral discoveries in the Ring of Fire area of Northern Ontario. He was also awarded the Quebec Prospector of the Year Award in 1992 for his participation in the discovery of the Pusticamica and Verneuil gold deposits in Quebec. In January 2015, Mr. Watson was inducted into the Canadian Mining Hall of Fame.
"We are very pleased to welcome Mac, Jim and Jean-Philippe as Advisors," said Quentin Yarie, President and CEO of Red Pine. "All three are highly respected mining professionals with an impressive track record of success. They bring a tremendous depth of knowledge and technical expertise to our team. I look forward to working with them very closely as we continue to develop the Wawa Gold Project."
Wawa Gold Project Highlights
- NI 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 depth1;
- Additional gold mineralization present, but not well defined, in the hanging wall and footwall secondary structures indicate that the contained gold of the pit-constrained resource can be increased and would significantly improve the economics of the resource1;
- Strike length continuity for some gold-bearing structures exceed 2.5 kilometres with potential continuous gold mineralization;
- Advantageous land position in an under-explored gold camp that hosted eight past producing mines with average grades of 8.9 g/t gold and a historic gold production of 120,000 ounces;
- Proximity to established regional infrastructure (roads, rail, airport, high voltage power lines, existing mill);
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 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 30% interest in the Wawa Gold Project and has entered into a Joint Venture Agreement (JVA) with Citabar LLP and Augustine Ventures Inc. The Wawa Gold Project is now owned by Citabar/Red Pine/Augustine in the ratio of 40%, 30% and 30%, respectively. Under the terms of the JVA, Red Pine is the Operating Manager and will continue to explore and advance the current gold resource on the property. Red Pine is currently expediting negotiations to consolidate ownership of the Wawa Gold Project.
1 The Mineral Resource is disclosed in the NI 43-101 technical report titled "Mineral Resource Statement*, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)". The report is available on www.SEDAR.com under Red Pine's profile..Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent.
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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.
Contact
Red Pine Exploration Inc.
Quentin Yarie
President & CEO
(416) 364-7024
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com
