Red Pine Exploration Inc. drills 3.5 g/t gold over 32.8 metres, including 4.99 g/t gold over 17.6 metres at its Wawa Gold Project
TSX VENTURE: RPX
TORONTO, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") announces that it continues to discover new intersections of high-grade gold within the current inferred resource, that have not been included in the calculation of the resource of the Surluga Deposit1.
The Company’s infill drilling program is steadily adding new intersections of gold and extending the footprint of the higher-grade core of the existing resource. These new intersections, along with several other previously released intersections (SD-17-173 – 5.28 g/t gold over 14.55 metres and SD-17-172 – 4.46 g/t gold over 10.1 metres) provide additional support for our thesis that the Wawa Gold Project has the potential to host a high-grade underground resource.
Drilling Highlights (Table 1):
- Discovery of high-grade gold in the current resource footprint of the Surluga Deposit:
• Hole SD-18-228 contains 3.5 g/t gold over 32.8 metres (true width), including 4.99 g/t gold over 17.6 metres (true width);
• SD-18-230 contains 3.47 g/t gold over 3.44 metres (true width) and 2.34 g/t gold over 4.19 metres (true width).
Quentin Yarie, President and Chief Executive Officer of Red Pine, stated, "The discovery of significant mineralization, in the gaps of the Surluga Deposit inferred resource, indicates that new high-grade gold zones are present within the current footprint of the resource. We are now focusing our drilling on filling gaps inside and on the edges of the resource where we believe similar mineralization exists. This has the potential to add higher grade ounces accessible by the historical underground workings of the Surluga Deposit.”
Table 1. Highlights of the 2018 drilling results in the Jubilee Shear Zone
|SD-18-228||668491||5316349||378.8||310||50||257||290.2||33.2||32.8||3.5||Jubilee Shear Zone|
|SD-18-230||668491||5316349||378.8||315||74||262||290.3||29.4||27.34||1.01||Jubilee Shear Zone|
Diamond drilling utilizes HQ core
Figure 1. Plan map of drilling results
Infill and confirmation drilling in the Jubilee Shear Zone
Red Pine’s on-going 2018 diamond drill program is focused on drilling strategic areas in the down-plunge extension of the Surluga Deposit, not covered by historic holes and where recent geological modelling suggests that high-grade mineralization may exist. The program is designed to maximize the discovery of zones of higher-grade mineralization near the historic underground workings of the Surluga Deposit to extend the footprint of the higher grade core of the resource. Infill drilling will continue this fall and into 2019 with a revised NI-43-101 resource initiated in Q1 2019.
Figure 2. Cross-section of drilling results in relation to the current Surluga Deposit resource shell model
Wawa Gold Project Background
Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 42,000 metres of historic core that was never sampled by previous operators of the project, and exploration drilling campaigns. To date, the Company has completed over 55,000 metres of drilling and made four discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone and; the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor.
The Company is well positioned to fund its share of the Wawa Gold exploration program.
As such, the sampling and drill programs are expected to continue through 2018.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core 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.
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.com
1NI 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)).
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.