TORONTO, ONTARIO–(Marketwired – April 5, 2017) – Red Pine Exploration Inc. (TSX VENTURE:RPX) (“Red Pine” or the “Company”) has received the final results for holes SD-17-50 to SD-17-52, which were drilled as part of its 6,000m winter drilling program along the Wawa Gold Corridor at the Company’s Wawa Gold Project.
Drilling highlights include (see Table 1 and Figure 1 below):
- SD-17-50: Intersection of 5 stacked gold zones that include:
- 2.02 g/t gold over 9.7 metres in the Surluga Road Shear Zone,
- 0.51 g/t gold over 9.3 m and 0.49 g/t gold over 6.04 metres in the Jubilee Shear Zone,
- 0.63 g/t gold over 14.88 metres in the William Gold Zone,
- 1.28 g/t gold over 8.86 metres in the lower William Gold Zone, and
- 0.86 g/t gold over 4.92 metres in the upper Hornblende Shear Zone;
- SD-17-52: Intersection of 2 stacked gold zones that include:
- 1.09 g/t gold over 10.89 metres in the lower Hornblende Shear Zone, and
- 0.98 g/t gold over 19 metres in the Jubilee Shear Zone;
- PH-17-71: Intersection of a shear zone(s) containing a quartz vein (assays pending), in which visible gold(1) was observed and demonstrates a connection between the former Minto Mine and the former Parkhill Mine, which are 1,000 metres apart.
The Wawa Gold Corridor is roughly defined as a 2,000-metre-long and 600 metres-wide corridor consisting of stacked shear zones that include the Jubilee Shear Zone, which hosts the Surluga Deposit(2) (1.088 million oz gold at a grade of 1.71 g/t gold), the Surluga Shear Zone, the William Gold Zone, the Hornblende Shear Zone and the Algoma Shear Zone (see Figure 1 below).
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “As illustrated by the encouraging results of SD-17-50, drilling along the Wawa gold corridor west of the Surluga deposit resource boundary continues to validate our exploration model that it is made up of numerous stacked mineralized gold zones.
“We are also very pleased that we can now support the inclusion of the former Parkhill Mine into the Wawa Gold Corridor based on its interpreted connection with the former Minto Mine, which demonstrates both were likely formed as part of the same gold system.”
Shallow Extensions of Stacked Mineralized Zones
Hole SD-17-50 successfully tested the shallower extensions of the stacked gold zones below the Jubilee Shear Zone intersected by hole SD-16-40 (see press release dated January 24, 2017), which was drilled approximately 95 metres east.
Similar to the results of SD-16-40, hole SD-17-50 intersected five stacked gold zones, which demonstrates that the Wawa Gold Corridor contains multiple stacked gold zones in an under-explored area that is outside the current boundary of the Surluga Deposit(2). This further supports our hypothesis that the existing resource can be increased through the ongoing sampling of historic core and an aggressive drill program.
From top to bottom, the intersected gold zones intersected by SD-17-50 include: the Jubilee Shear Zone (which hosts the Surluga Deposit), the Surluga Road Shear Zone, the William Gold Zone, the lower William Gold Zone, and the Hornblende Shear Zone. All the intersected gold zones were within 175 metres from surface.
Holes SD-17-51 and SD-17-52 were drilled 250 metres apart and respectively 150 and 400 metres north of SD-17-50 and SD-16-40. Both holes successfully intersected the main gold-bearing structures of the Wawa Gold Corridor. SD-17-52 also supports the strike continuity of the gold intersections from holes HS-15-29 and HS-15-30 (see press release dated December 18, 2015).
Table 1. Highlights of drilling results in the Wawa Gold Corridor
| Hole | From (m) |
To (m) |
Length (m)* |
Gold (g/t) |
Gold Zone | |
| 21.1 | 30.4 | 9.3 | 0.51 | |||
| 36.11 | 37.03 | 0.92 | 1.29 | Jubilee Shear Zone | ||
| 48 | 54.04 | 6.04 | 0.49 | |||
| SD-17-50 | 94.87 | 104.57 | 9.7 | 2.02 | Surluga Road Shear Zone | |
| 113.4 | 128.28 | 14.88 | 0.63 | William Gold Zone | ||
| 213.38 | 222.24 | 8.86 | 1.28 | Lower William Gold Zone | ||
| 242.53 | 247.45 | 4.92 | 0.86 | Hornblende Shear Zone – Upper | ||
| 34.7 | 41.55 | 6.85 | 0.49 | Jubilee Shear Zone | ||
| 61.1 | 66.26 | 5.16 | 0.91 | |||
| SD-17-51 | 79.53 | 83 | 3.47 | 0.38 | Surluga Road Shear Zone | |
| 326.9 | 328 | 1.9 | 5.37 | Hornblende Shear Zone – Lower | ||
| 8 | 27 | 19 | 0.98 | Jubilee Shear Zone | ||
| SD-17-52 | 85.15 | 86.22 | 1.07 | 1.84 | Surluga Road Shear Zone | |
| 210.24 | 223 | 10.89 | 1.09 | Hornblende Shear Zone – Lower | ||
| DG-17-57 | No significant results – hole hit workings of Darwin-Grace mine and stopped | |||||
| DG-17-58 | No significant results – hole hit workings of Darwin-Grace mine and stopped | |||||
| *Assay results reported over intersection length estimated in the Jubilee Shear Zone and the Hornblende shear zones to represent >85% true width; As they represent recent discoveries, no true width estimation are currently defined for the intersection in the William gold zones and Surluga Road Shear Zone. |
Pushing South Towards Parkhill
The on-going 6,000m diamond drill program is also expanding the southern boundary of the Wawa Gold Corridor from the former Minto Mine (23,000 ounces @ 12.56 g/t gold)(3) towards the vicinity of the former Parkhill Mine (54,298 ounces @ 14.81 g/t gold)(3), which is approximately 1,000 metres to the southeast.
In the Parkhill Mine area, hole PH-17-71 (assays pending) intersected two stacked structures that both contained quartz veins with visible gold(1). The uppermost structure was intersected from 53 to 70.4 metres downhole at a vertical depth of approximately 50 metres, which corresponds to the known gold-bearing structure that was mined by the former Parkhill Mine.
The lower structure was intersected from 142 to 163 metres downhole and at a vertical depth of approximately 135 metres, which correspond to the known gold-bearing structure that was mined by the former Minto Mine. The intersection of the Minto Mine structure in the Parkhill Mine area indicates that both the Parkhill and Minto mines are likely part of the same gold system and that the Parkhill Mine is also likely a component of the Wawa Gold Corridor.
The Wawa Gold Project
The Wawa Gold property package consists of over 5,000 hectares and hosts several former mines with a combined historic production of 120,000 oz gold. To date, the largest gold deposit on the property is the Surluga Deposit, which hosts a NI 43-101 Inferred Resource of 1,088,000 oz gold at an average grade of 1.71 g/t using a 0.5 g/t cut-off contained within 19.82 million tonnes(2).
Exploration work by Red Pine during the past 12 months has involved the ongoing sampling of 42,000 metres of historic core that was never sampled by previous operators of the project (initiated in February 2016) and the completion in March 2017 of a 6,000-metre drill program (initiated in November 2016). This drill program will be immediately followed by a new 10,000-metre drill program, which will be initiated in April 2017.
The goal of these sampling and drill programs is to fill-in gaps within the resource estimate with the expectation that it will lead to the definition of additional gold resources. Our analysis of drill core to-date has included the identification of an association between gold intersections and discrete gold-bearing structures within the hanging wall and footwall of the resource, the definition of high-grade gold mineralization within the Jubilee Shear Zone and confirmed that the resource could extend 525 metres to the north.
The Company is well positioned to fund its share of the Wawa Gold exploration program following the completion on February 24, 2017 of a brokered private placement for gross proceeds of $6,540,240. As such, the sampling and drill programs are expected to continue throughout 2017 and will be followed by an update to the NI 43-101 resource estimate.
To view Figure 1. Winter 2017 Drill Program, please visit the following link: http://media3.marketwire.com/docs/rpx0405fig1.pdf.
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.
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.
(1) 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.
(2) NI 43-101 inferred resource of 1,088,000 ounces of gold at 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)).
(3) Ronacher, E., McKenzie, J. and Bernier, S., 2015, Wawa Gold Project, Ontario: Independent Technical Report for Red Pine Exploration, June 5, 2015, 138 p. (available on www.SEDAR.com under Red Pine’s profile).
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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.
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