TORONTO, ONTARIO -- (Marketwired) -- 09/20/17 -- Red Pine Exploration Inc. (TSX VENTURE: RPX) ("Red Pine" or the "Company") announces partial results for three drill holes in the Minto Mine area that were completed as part of the on-going 20,000 metre ("m") drilling program at its Wawa Gold Project.
Drilling Highlights (see Table 1 and Figures 1, 2 and 3 below):
-- The discovery of a high-grade quartz vein (Minto E) above the Minto Mine
South Zone ("MMSZ") (Figures 1, 3);
-- SD-17-94 contains 13.04 gram per tonne ("g/t") gold over 2.20 m;
-- SD-17-99 contains 13.08 g/t gold over 2.63 metres;
-- The high-grade zone of the MMSZ extends south (Figures 1, 2)
-- SD-17-105 contains 5.51 g/t gold over 5.83 metres;
-- Visible gold is observed in 10 out of the 20 additional holes completed
so far in the MMSZ (Figure 1);
-- 15 additional drill holes are planned for this area as part of the 2017
drill program.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "We are quite excited by the intersection of a near-surface high-grade quartz vein above and perpendicular to the Minto Mine South Zone. This new discovery, called Minto E, further emphasises the potential of the zone and adds another gold target to what is already a highly promising area. Drilling in the Mine South Zone continues to be successful and is demonstrating that thickening zones of gold-mineralization can occur within the structure."
Table 1. Highlights of the 2017 drilling results south of the Minto Mine
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To Length
Hole From (m) (m) (m)(i) Gold (g/t) Gold Zone
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SD-17-94 11.50 13.70 2.20 13.04 Minto E
including
12.50 13.70 1.20 23.4
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New gold intersection -
outside of both MMSZ and Minto
121.00 122.00 1.00 5.06 E
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SD-17-99 3.63 4.40 0.77 7.29 Minto E
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17.35 19.98 2.63 13.08 Minto E
including
18.14 19.16 1.02 31.2
---------------------------------------------
SD-17-105 63.82 65.82 2.00 1.97
------------------------------------------------------------------
91.17 97.00 5.83 5.51 MMSZ
including
92.00 92.97 0.97 16.21
94.00 95.00 1.00 11.07
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(i)Assay results reported over intersection length. In the Minto Mine South
Zone for SD-17-105, the intersection length is estimated to be represent
greater than or equal to 70% true width. As it represents a discovery, no
true width estimation is available for the discovered Minto E Gold Zone in
SD-17-94, 99 and SD-17-105. Additional drilling is required to estimate the
true width and continuity of the mineralized structure.
Overview of drilling results in the MMSZ and the Minto E
Holes SD-17-94 and SD-17-99 (Final assays pending) were drilled to test the down-dip extension of the MMSZ and both holes successfully intersected the structure. Near surface, SD-17-94 and SD-17-99 intersected a high-grade quartz vein/structure that represents the down-dip extension of the surface exposure of the Minto E structure.
SD-17-105 successfully intersected the southern extension of the MMSZ and results indicate a thickening of the structure in the area. In the hanging wall of the MMSZ, SD-17-105 also intersected a gold-bearing shear that could be the western extension of the Minto E shear zone.
Results are pending for 20 boreholes in the MMSZ. The zone remains open at depth and along strike (greater than 1km) to the south. Fifteen (15) additional drill holes are currently planned to further define its strike length and down-dip extension and to further define the Minto E Zone.
Wawa Gold Project Summary
The Wawa Gold property package consists of over 5,500 hectares and hosts several former mines with a combined historic production of 120,000 ounces ("oz") gold(1). Currently, the largest gold deposit on the property is the Surluga Deposit, which hosts a NI 43-101 Inferred 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 tonnes(2).
Exploration work by Red Pine during the past 18 months has involved the sampling of 42,000 metres of historic core that was never sampled by previous operators of the project (initiated in February 2016) and aggressive drilling campaigns.
To date, the Company completed over 22,000 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. All these mineralized zones are interpreted to form a coherent structural system, the Wawa Gold Corridor, and are anticipated to have a positive impact on the property's gold inventory.
Red Pine's on-going 20,000-metre drill program is focussed on three of the four key discoveries with two drills operating non-stop on the property. The first drill is currently targeting the Surluga North discovery, where Red Pine's hole SD-16-45 intersected 14.66 g/t gold over 15.23 metres (the Surluga North high-grade zone) while the second drill is targeting the Minto Mine South Zone discovery.
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 throughout 2017.
Highlights
-- 100% owned land position between JVA;
-- 2 km southeast of the Municipality of Wawa, Ontario, close to roads,
power and other infrastructure; and
-- 8 past producing mines on property with historical production of 120,000
oz gold at 9.04 g/t average grade(1).
greater than 1M oz Inferred Gold Resource at 1.71 g/t (0.5 g/t cut-off)(2)
-- Near surface mineralization; -- Open in all directions; and -- Exploration continuing to expand the existing resource.
Considerable Growth Potential
-- Newly discovered high-grade gold zones in many areas on property; and -- Gold mineralization extends 5 km in length.
Preliminary Metallurgical Study Underway
-- Optimization of gold and silver recoveries.
To view Figure 1. Highlights of the 2017 Drill Program in the Minto Mine Structure, please visit the following link: http://media3.marketwire.com/docs/RPX-Figure1-1102446.pdf.
To view Figure 2. Longitudinal section showing drilling intersections in the MMSZ between the former Minto and Parkhill mines, please visit the following link: http://media3.marketwire.com/docs/RPX-Figure2-1102446.pdf.
To view Figure 3. Cross-section showing the spatial relation between the Minto Mine South Zone and the discovered high-grade quartz vein, please visit the following link http://media3.marketwire.com/docs/RPX-Figure3-1102446.pdf.
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 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.
(1)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.
(2)NI 43-101 inferred resource of 1,088,000 oz 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)).
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.
Contacts:
Red Pine Exploration Inc.
Quentin Yarie
President & CEO
(416) 364-7024
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy
Investor Relations and Corporate Development
(416) 364-7024
mboiridy@redpineexp.com
