TORONTO, ONTARIO–(Marketwired – April 13, 2017) – Red Pine Exploration Inc. (TSX VENTURE:RPX) (“Red Pine” or “the Company”) announces that it has contracted SGS Minerals Services (“SGS”) to conduct metallurgical testing on a 100 kg composite sample from the Wawa Gold Project to evaluate the recovery of gold and silver using standard ore processing methods.
Quentin Yarie, President and CEO of Red Pine, stated, “Our team is focused on expanding the existing inferred gold resource at the Wawa Gold Project and identifying new gold mineralization on the property through resampling and drilling. The metallurgical test work is a new milestone for us and is part of our comprehensive approach to maximize the project’s long-term economic viability. Optimizing processing methods to maximize gold and silver recoveries will be instrumental in the eventual completion of an economic assessment of the project.“
The SGS study will help determine the most efficient ore processing methods for the Wawa Gold Project. Standard ore processing test work will include gravity separation, flotation, and cyanide leaching. Each process will be optimized to maximize gold and silver recoveries from the 100 kg composite sample. The metallurgical testing is expected to take 8 to 10 weeks to complete.
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 is focused on expanding the existing gold resource of the Wawa Gold Project, situated near Wawa, Ontario. Red Pine is the Operating Manager of the project and owns a 60% interest with Citabar LLP owning the remaining 40%.
For more information about the Company and the project visit www.redpineexp.com.
| 1 | 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)). |
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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.
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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