Red Pine Adds Land Package at its Wawa Gold Project and Provides Update on Exploration Program
TORONTO, ONTARIO--(Marketwired - June 8, 2017) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or "the Company") announces that it has secured an additional 58 hectares at its Wawa Gold Project, bringing its total land package to 5,568 hectares (Figure 1).
Quentin Yarie, President and CEO of Red Pine, stated, "We have added the area situated directly to the west of the Surluga Deposit to our land package. Securing these mineral rights continues to consolidate Red Pine's holdings within the boundary of the Wawa-Gold Project."
To view Figure 1. Location map of newly acquired exploration ground, please visit the following link: http://media3.marketwire.com/docs/RPX-Figure1.jpg
Exploration Program Update
Red Pine announced on May 17, 2017 that it had expanded its drilling program and mobilized a second drill to potentially expand the size of the existing gold resource at the Wawa Gold Project. With two drills rigs in constant operation, the lab has been unable to keep up with Red Pine's aggressive exploration program, resulting in a substantial backlog. Red Pine is awaiting the assay results for approximately 6,000 metres of drilling.
Quentin Yarie, Red Pine's President and CEO commented, "Our flow of news and results has been significantly impacted by the backlog of samples waiting for analysis at the laboratory. We are currently waiting to receive assay results for more than 1,500 samples. We are taking steps to remedy this situation and expect to eliminate the backlog by the end of the summer."
Despite pending assay results for over 20 drill holes drilled on the Parkhill, Minto and Surluga areas, the 20,000 metres drill program continues. One of the drills is focused on expanding the existing inferred gold resource while the other is focused on connecting other zones of gold mineralization (the Wawa Gold Corridor) recently discovered through drilling and other exploration techniques.
On-site Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security-sealed bags for analyses to SGS in Cochrane, 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.
About the Wawa Gold Project
Highlights
- 100% owned land position between JVA
- 2 km southeast of the Municipality of Wawa, Ontario, close to roads, power and other infrastructure
- 8 past producing mines on property with historical production of 120,000 oz gold at 9.04 g/t average grade1
> 1M oz Inferred Gold Resource at 1.71 g/t (0.5 g/t cut-off)2
- Near surface mineralization
- Open in all directions
Considerable Growth Potential
- Potential for multi-million ounces resource
- Newly discovered high-grade gold zones in many areas on property
- Gold mineralization extends 5 km in length
Preliminary Metallurgical Study Underway
- Optimization of gold and silver recoveries
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 LLP. 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.
1Mineral 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.
2NI 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)).
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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.
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
