TORONTO, ONTARIO–(Marketwired – April 20, 2017) – Red Pine Exploration Inc. (TSX VENTURE:RPX) (“Red Pine” or “the Company”) announces that it has contracted EMpulse Geophysics Ltd. (“EMpulse”) to conduct a geophysical survey at its Wawa Gold Project.
EMpulse will map the shallow poorly-conducting gold-bearing shear-zones of the Surluga Deposit as well as the deep conductive/structural sources that likely tie together the mineral occurrences that have been identified along of the Wawa Gold Corridor.
Quentin Yarie, President and CEO of Red Pine, stated, “EMpulse’s work will be instrumental in understanding the structures that control mineralization at the Wawa Gold Project. EMpulse’s proprietary system will map both the shallow structures over their long strike-length and the deep structures that likely connect the mineral occurrences of the Wawa Gold Corridor – the Surluga Deposit, Minto, Hornblende, Parkhill, Van Sickle, Sunrise, and Grace-Darwin. This mapping will provide a valuable targeting tool for our on-going 10,000m drill program.”
The survey results will provide Red Pine with important information on the shallow structural targets which appear to control the local placement of anomalous gold concentrations on the property. In addition, the work is expected to outline any potential structural controls and sources of the mineralization that exist at depth.
EMpulse has been involved in natural source electromagnetics since 2001 using instrumentation and software designed and constructed by David Goldak and Peter Kosteniuk. Building on its already excellent tipper data, EMpulse’s new 3D inversion code, with a joint phase tensor/tipper/horizontal magnetic transfer function capability, has demonstrated that this proprietary system is capable of mapping small conductive bodies beyond 1000 m depth.
EMpulse’s survey fieldwork on the Wawa Gold Project is expected to be completed by mid-June 2017.
Wawa Gold Project Highlights
- The Surluga Deposit hosts a 43-101 Inferred Resource of 1.088 Million oz gold at 1.71 g/t gold (0.5 g/t gold cut-off)1
- New gold mineralization has been discovered in the hanging-wall and footwall of the Surluga Deposit, which remains open in all directions
- Gold mineralization exists 525 metres to the north of the deposit (SD-16-43: 2.0 g/t over 8.96 m) and 3 km south of the deposit (DG-17-56: 57.31 g/t over 3.14 m)
- The Surluga Deposit lies within the Wawa Gold Corridor, which is roughly defined as a 2,000 metres-long and 600 metres-wide corridor consisting of stacked parallel shear zones
- The project is located 2 km southeast of the Municipality of Wawa, Ontario, close to roads, power and other infrastructure
Overview of the Wawa Gold Project
The Wawa Gold property package consists of over 5,000 hectares that historically hosted several mines. Together, they produced over 120,000 oz of gold at an average grade of 9.04 g/t. The property currently hosts the Surluga Deposit, a NI 43-101 Inferred Gold 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 tonnes1.
Red Pine’s exploration work over the past 12 months has included the ongoing sampling of 42,000 metres of historic core that was never sampled by previous operators (initiated in February 2016) and the completion in March 2017 of a 6,000-metre drill program (initiated in November 2016). A new 10,000-metre drill program has already been initiated.
The goal of the 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. The sampling and drill programs are expected to continue throughout 2017. An assessment of an Exploration Target at the Wawa Gold Project is expected this fall.
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.
1NI 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)). The report is 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