TORONTO, Sept. 25, 2019 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces results from its 2019 channel sampling program at the Grace Shear Zone at its Wawa Gold Project. The Grace Shear Zone, located 3 kilometres south of the southernmost extension of the Surluga resource, is host to the historical Darwin-Grace Mine. The mine was last in production in 1938 and milled just over 41,302 tonnes gold at an average grade of 17.63 g/t.
Channel sampling highlights:The Grace Shear Zone known strike length has been extended by more than 100 metres to the northwest. The known strike length of the structure is now at least 500 metresHigh-grade gold persists in the northern extension of the Grace Shear Zone at surface:Trench 5B-1 contains 16.49 g/t gold over 0.6 metres;Trench 2-1 contains 7.56 g/t gold over 1.05 metres; andTrench 5A-4/5 contains 2.98 g/t gold over 1.9 metres.Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “Back in 2017, we intersected significant gold mineralization at the Grace Shear with 30.14 g/t gold over 4.32 metres (estimated true width) in hole DG-17-56. We decided to return to this area following the issuance of our latest NI 43-101¹ to show that there is more gold to be found on our property package. Our mechanized stripping program successfully extended the strike length of the Grace Shear Zone to 500 metres and it remains open in both directions. With our added understanding of the structure we will be drilling this area in the coming months.”Table 1. Locations of the trenches with significant results in the Grace Shear ZoneFigure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7522f931-7c39-48dd-81f4-bb748d1c6435Objective of Red Pine’s 2019 exploration program
Red Pine issued a new resource estimate for the Wawa Gold Project in July 2019 (National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019). Two deposits have been identified on the property to date. The Surluga Deposit has an indicated resource of 205,000 ounces gold grading 5.31 g/t gold and an inferred resource of 396,000 ounces grading 5.22 g/t gold. The Minto Mine South Deposit has an indicated resource of 25,000 ounces gold grading 7.5 g/t and an inferred resource of 75,000 ounces gold grading 6.6 g/t gold.There exists six (6) gold-bearing structures at the Wawa Gold Project for which conceptual exploration targets have been estimated (Figure 2). The Company’s current exploration program is focused on testing the Cooper and Darwin-Grace targets and proving the continuity of the Surluga resource at depth.Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/928d45ea-ef62-4cd1-b5a9-1d3d4077b3f1Geological attributes of the Grace Structure
Red Pine’s 2019 trenching in the Grace Shear Zone confirms that the structure extends to the north and suggests that the structure remains open both to the south and to the north of its currently known footprint. The geological data collected during the trenching program also improved our geological understanding of the structure and will contribute to the optimization of the drill targeting in the Grace Shear Zone.Cooper Structure
As announced on September 18, 2019, Red Pine completed ten (10) exploration diamond drill holes, covering a strike length of 325 metres, in the Cooper Shear Zone. Assays are pending. This initial diamond drill program follows Red Pine’s 2019 channel sampling program in the Cooper Shear Zone where multiple centers of high-grade gold mineralization were found. Additional channel sampling results are available below (Table 2).Table 2. Significant results from the channel sampling in the trenches in the Cooper Deformation Corridor*Assay results in the Grace Shear Zone presented as channel sampling length. For most trenches, channel sampling was done as close as possible to perpendicular to the strike of the structures. However the presence of topographic irregularities at surface makes the estimation of true width difficult.On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Channel samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Ancaster, 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 LP. 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.comOr contact:
Quentin Yarie, President & CEO, (416) 364-7024, [email protected]Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]¹ Two deposits have been identified on the property to date. The Surluga Deposit has an indicated resource of 205,000 ounces gold grading 5.31 g/t gold and an inferred resource of 396,000 ounces grading 5.22 g/t gold. The Minto Mine South Deposit has an indicated resource of 25,000 ounces gold grading 7.5 g/t and an inferred resource of 75,000 ounces gold grading 6.6 g/t gold (National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019).Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.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.
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