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Red Pine Intersects High-Grade Gold in the Jubilee Shear Zone – 34.4 g/t over 3.7 m within 12.7 m at 10.6 g/t; 4.6 g/t over 6.2 m within 41 m at 1.6 g/t (all in true width)

by pmnationtalk on March 5, 201998 Views

Toronto, Ontario – March 4, 2019 – Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces new results from its delineation drilling of the Surluga Deposit (“Surluga” or the “Deposit”). The Surluga Deposit1 is one of two (2) known resources, identified to date, on the large 6,519 hectares Wawa Gold Property, located near Wawa, Ontario.  These latest results will be included a revised NI 43-101 resource estimate for the Deposit expected in Q2 2019.

Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “Our in-fill drilling program in the Surluga Deposit continues to discover zones of high-grade mineralization inside and outside of the current footprint of the inferred resource. The holes reported here were planned to close gaps identified in the process of updating the current Surluga Deposit. Most of the tested gaps are adjacent to the existing underground infrastructure of the Surluga and Jubilee Mines.”

Drilling highlights (Table 1):

  • Discovery of high-grade gold in delineation holes of the Surluga Deposit:
    • Hole SD-18-255 contains 10.6 g/t gold over 12.7 m (true width) including 34.4 g/t gold over 3.7 m (true width);
    • Hole SD-18-258 contains 1.6 g/t gold over 41.0 m (true width) including 5.2 g/t gold over 3.1 m and 4.6 g/t gold over 6.2 m (true width);
    • Hole SD-18-251 contains 4.0 g/t gold over 2.9 m (true width).

Red Pine’s work to improve its understanding of the geological factors that control higher-grade gold mineralization in the Surluga Deposit, has enabled the Company to identify zones where significant gold mineralization can be expected. Holes SD-18-251, 252 and 254 intersected a shallow zone of high-grade mineralization at the southern end of the Surluga Deposit. Hole SD-18-255 discovered the deeper extension of this same zone of high-grade mineralization. Additional drilling will be necessary to define the zone’s size and possible extension.

Infill and confirmation drilling in the Jubilee Shear Zone

Red Pine’s 2018 diamond drill program, from July to early January 2019, targeted strategic areas in the Surluga Deposit where geological modelling suggested that high-grade mineralization would be discovered. Drilling results to date support the potential for the Surluga Deposit to host a higher-grade gold resource, accessible using the existing underground developments of the Surluga Mine. Recent drilling is also confirming that additional gold zones exist below the Jubilee Shear Zone (host of the Surluga Deposit) and that higher-grade mineralization can be found in those gold zones. Assay results for another 20 infill drill holes completed in the Surluga Deposit are still pending. The Company remains on track to deliver an updated resource estimation for the Surluga Deposit in Q2 2019.

Table 1. Highlights of the 2018 drilling results in the Jubilee Shear Zone

Hole From (m) To (m) Length(m)* Calculated true width (m) Gold (g/t) Az Dip X Y Z
SD-18-249 190.7 199.6 8.9 7.4 0.8 359 64 668112 5316045 376.3
SD-18-251 162.1 176.2 14.1 13.4 1.1 323 61 668111 5316045 376.3
Including
173.2 176.2 3.0 2.9 4.0
SD-18-252 171.2 182.3 11.1 10.3 0.6 306 76 668111 5316045 376.3
SD-18-254 167.0 175.2 8.2 8.2 1.8 279 53 668111 5316045 376.3
Including
168.9 175.2 6.3 6.3 2.1
SD-18-255 180.7 195.8 14.1 12.7 10.6 249 49 668111 5316045 376.3
Including
189.7 193.8 4.1 3.7 34.4
Including
190.4 192.0 1.6 1.4 80.4
SD-18-257 154.1 161.5 7.4 5.6 0.7 203 66 667985 5315923 374.3
SD-18-258 225.2 269.8 44.6 41.0 1.6 313 77 668169 5315848 351.2
Including
246.8 250.2 3.4 3.1 5.2
263.1 269.8 6.7 6.2 4.6

Figure 1. Plan map of drilling results

Figure 2. Infill drilling results on schematic longitudinal section of the Surluga Deposit

Wawa Gold Project Background

Since December 2014, Red Pine’s exploration work has involved the ongoing sampling of 42,000 m of historic core that was never sampled by previous operators of the project, and exploration drilling campaigns. To date, the Company has completed over 59,000 m 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 kilometres. The Company released a maiden resource of 100,000 ounces of gold at an average grade of 6.8 g/t for the Minto Mine South Deposit in November 2018.

Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource at the Surluga Deposit and connect the other zones of gold mineralization along the Wawa Gold Corridor.

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.

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.com

Or contact:

Quentin Yarie, President & CEO, (416) 364-7024, qyarie@redpineexp.com

Or Mia Boiridy, Investor Relations, (416) 364-7024, mboiridy@redpineexp.com

NT4

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