Red Pine Announces Engagement of GoldSpot Discoveries to Examine the Wawa Gold Project
Red Pine Announces Engagement of GoldSpot Discoveries
to Examine the Wawa Gold Project
TORONTO, November 25, 2021 – Red Pine Exploration Inc. (TSX–V: RPX, OTCQB:
RDEXF) (the “Company” or “Red Pine”) announces it has engaged GoldSpot
Discoveries (TSXV: SPOT; OTCQX: SPOFF), to apply its proprietary machine learning
technology and greenfield geoscience expertise on the Wawa Gold Project. GoldSpot
Discoveries (“GoldSpot”) will bring its proven artificial intelligence expertise that has
previously led to important mineral discoveries.
GoldSpot is a technology company focused on developing artificial intelligence
technologies for the mining and exploration sector. GoldSpot is working with some of
the leading exploration and mining names in the industry , applying their cutting-edge
algorithms to significantly increase the efficiency and success rate of mineral
exploration.
The Company has an extensive land package that spans over 6,900 hectares in the
Michipicoten greenstone belt and will focus GoldSpot on areas with the least information
so that it can efficiently plan exploration in these areas. There are several past producing
mines on the property that warrant further investigation and GoldSpot’s input will allow
the Company to expand exploration beyond its currently identified high priority targets.
The airborne magnetic data is a good depiction of the complex geology of the Wawa
Gold Corridor. The Company ’s focus has been in areas like the Historic Surluga and
Minto mines where the preponderance of information was readily available. These
areas represent just a small percentage of the property which comprises a large land
package with numerous existing high-value gold targets.
With the use of GoldSpot’s technology and new data acquisition methods, the Company
will be able to refine its discovery process by leveraging sophisticated and cost-efficient
targeting software to delineate drill-ready locations to prioritize, a complimentary aspect
to Red Pine’s technical and geological team with a strong history of discovery success.
Figure 1: 43-101 Property Historic Mine Locations
Figure 2: Magnetic Susceptibility Inversion Model Centered on Surluga Resource
"We have excellent resources for GoldSpot to target using their technology, including a
full suite of geophysical, geochemical, geology and structural databases. GoldSpot
technology will enable us to expand our understanding of the gold system in areas of
our property that we have not explored yet." ,” said Quentin Yarie, CEO and President
of Red Pine Exploration . "With the recent success of the initial 2021 drilling program
and the completion of the November flow -through financing for aggregate gross
proceeds of C$8.4 million, the Company is working to expand upon the current NI 43-
101 compliant resource with 1,307,000 tonnes at 5.47 g/t gold for 230,000 ounces in
the indicated category and 2,716,000 tonnes at 5.39 g/t gold for 471,000 ounces in the
inferred category contained between surface to 350 meters depth."
Qualified Person
Quentin Yarie, P.Geo. and Chief Executive Officer of Red Pine and the Qualified
Person, as defined by National Instrument 43 -101, has reviewed, and approved the
news release’s technical information.
COVID-19 Precautions
Red Pine has developed and implemented compliant precautions and p rocedures
according to guidelines from the Province of Ontario. Protocols were put in place to
ensure our employees’ and contractors’ safety, thereby reducing the potential for
community contact and spreading of the virus.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto,
Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange
under the symbol "RPX".
The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that
has seen major investment by several producers in the last five years. Its land package
hosts numerous historic gold mines and is over 6,900 hectares in size. The Company’s
Chairman of the Board is Paul Martin, the former CEO of Deto ur Gold. The Board has
extensive and diverse experience at such entities as Alamos, Barrick, Generation
Mining, Detour Gold and Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO,
who has over 25 years of experience in mineral exploration, Red Pine is s trengthening
its position as a major mineral exploration and development player in the Michipicoten
region.
For more information about the Company, visit www.redpineexp.com
Or contact:
Quentin Yarie, President and CEO, (416) 364-7024, [email protected]
Or
Tara Asfour, Investor Relations Manager, (514) 833-1957, [email protected]
1National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas
P.Geo. Golder Associates Ltd, report effective August 18, 2021
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) acc epts 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
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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.