Red Pine Confirms Independent Sampling and Assaying Validating Corrected Assay Database for Updated Resource Estimation
Red Pine Confirms Independent Sampling and Assaying
Validating Corrected Assay Database for Updated Resource
Estimation
Toronto, Ontario (July 24, 2024) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF )
(“Red Pine ” or the “ Company”) reports the results of the expanded independent verification
sampling and assaying of drill core performed by WSP Canada Inc. (“WSP”) as part of the ongoing
resource estimation for the Wawa Gold Project, Ontario.
Michael Michaud, President and CEO of Red Pine commented: “ I am pleased to see that t he
independent verification sampling completed by WSP is in good agreement with the corrected
database assay values ensuring that we have a project database that is accurate to support the
upcoming resource estimate. The independent verification sampling of core was the final stage
of assay verification, and we now have f ull confidence in the database and the resource
estimation, which remains on schedule to be completed in August.
In addition, t he independent verification sampling also re -confirmed the presence of significant
gold mineralization on the Wawa Gold Project and we continue to see the untested exploration
potential of the property.”
Independent verification sampling methodology
Independent sample verification of the drill core was completed between May 21 and May 23,
2024 by Brian Thomas, P.Geo. of WSP Canada Inc. (“WSP”), a Qualified Person as defined by
National Instrument 43-101. The verification sampling and assaying included core that was drilled
since 2014 to present and included historic drill core collected by previous operators.
The sample verification program considered 50 samples from Red Pine drilling intersections from
2014 to 2024. Each verification sample consisted of either individual or composited samples
selected from intersections distributed in 21 drill holes. A total of 33 verification samples covered
the main zone of the Jubilee Shear, 1 sample covered the lower segments of the Jubilee Shear,
4 covered the Minto B Shear Zone and 12 covered the Minto Mine Shear. The verification samples
consisted of quartered NQ-sized drill core for the drill holes completed between December 2014
and April 2015, and quartered HQ-sized drill core for the holes completed after May 2015.
The verification sampling of historical core (drilled prior to 2014 by previous operators) considered
15 composite samples all covering the main segment of the Jubilee Shear and distributed in 11
underground historical drill holes and 1 historical surface drill hole. Each sample of historical drill
core consisted of a composite sample taken from the entire box of mechanically split A -sized to
B-sized drill core. All the remaining half core that was present in each box was included in the
samples. The drill holes and the intersections for the historical samples were selected based on
the ability to establish precise boundaries for the previously sampled intervals, the composite
grade of the intersections contained in the boxes and their location.
The verification samples were transported in sealed rice bags by WSP from the Wawa Gold
Project to ALS Canada Ltd. in Sudbury. Sample preparation was done at ALS Sudbury and gold
analyses were done at ALS Vancouver. Quartered HQ and NQ drill cores were crushed, and 250
gram (“g”) fractions were pulverized to 85% passing 75 microns. Historical drill cores, because of
the larger sample volume, were crushed and then a 1000 g fraction was pulverized to 85%
passing 75 microns. Gold was analyzed for most of the verification samples by 50-g fire assaying
with a gravimetric finish, with some larger, higher -grade samples analyzed by 1-kilogram (“kg”)
screen metallic assay methods. Metallic screening considered 1 kg pulp screened to 100 microns,
duplicate 50-g fire assay on screen undersize and complete assaying of the oversize fraction.
Blanks and certified reference materials were included in the analyses of the verification samples.
Although there exists higher variability on an individual sample comparison as is typical of most
gold deposits, the sampling completed by WSP o n the Company’s drill holes, and the historical
drilling which occurred prior to Red Pine acquiring the property, are in good agreement with the
assay values in Red Pine's corrected assay database. Based on the combined historical and Red
Pine verified samples, the assay results from the verification sampling are on average within 13%
of the original assay value.
The complete results of the verification sampling are presented at Appendix 1 and Appendix 2.
The full reporting of the verification assays will be included in the Company’s updated National
Instrument 43-101 Technical Report.
Qualified Person
Jean-Francois Montreuil, P.Geo. and Vice President, Exploration of Red Pine and the Qualified
Person, as defined by National Instrument 43 -101, has reviewed and approved the technical
information contained in this news release.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario,
Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX"
and on the OTCQB Markets under the symbol “RDEXF”.
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 7000 hectares in size. Red Pine is building a strong 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:
Michael Michaud, President and CEO, at (416) 364-7024 or [email protected]
Or
Carrie Howes, Director Corporate Communications, at (416) 644 -7375 or
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute “forward -looking information” within the
meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs
and current expectations of the Company with respect to future business activities and operating
performance.
Forward-looking information is often identified by the words “may”, “would”, “could”, “should”,
“will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-
looking information contained in this news release includes, but may not be limited to, statements
regarding the timing of its updated resource estimate release and the presence of significant gold
mineralization on the Wawa Gold Project continuing to see the untested exploration potential of
the property. Investors are cautioned that forward -looking information is not based on historical
facts but instead reflects management’s expectations, estimates or projections concerning future
results or events based on the opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Such opinions, assumptions and estimates are
inherently subject to a variety of risks and uncertainties that could cause actual events or results
to differ materially from those projected and undue r eliance should not be placed on such
information, as unknown or unpredictable factors could have material adverse effects on future
results, performance or achievements. Among the key factors that could cause actual results to
differ materially from those projected in the forward -looking information are : the Company's
expectations in connection with the projects and exploration programs being met, the impact of
general business and economic conditions, global liquidity and credit availability on the timing of
cash flows and the values of assets and liabilities based on projected future conditions, fluctuating
gold prices, currency exchange rates (such as the Canadian dollar versus the United States
Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the
Company's mineral reserves and resources, changes in project parameters as plans continue to
be refined, changes in project development, construction, production and commissioning time
frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices
for fuel, power, labour and other consumables contributing to higher costs and general risks of
the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected
changes in mine life, seasonality and weather, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and
limitations on insurance.
This information contained in this news release is qualified in its entirety by cautionary statements
and risk factor disclosure contained in filings made by the Company, including the Company’s
financial statements and related MD&A for the year ended July 31, 2023, and the interim financial
reports and related MD&A for the period s ended October 31, 2023, January 31, 2024 and April
30, 2024 , filed with the securities’ regulatory authorities in certain provinces of Canada and
available at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying
the forward-looking information prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected. Although
the Company has attempted to identify important risks, uncertainties an d factors which could
cause actual results to differ materially, there may be others that cause results not to be as
anticipated, estimated or intended. The Company does not intend, and does not assume any
obligation, to update this forward-looking information except as otherwise required by applicable
law.
Appendix 1 – Drill core assay results from the independent verification sampling of Red
Pine drill core samples by WSP
Sampl
es
Compos
ites
Au (g/t)
samples
Au (g/t)
composites
SD-14-03 268.50 269.65 1.15 1.15 1471546 13.90 13.90 P449201 12.70
SD-14-03 269.65 270.70 1.05 1.05 1471547 14.60 14.60 P449202 11.25
267.00 267.77 0.77 1471573 11.60
267.77 268.90 1.13 1471575 6.42
268.90 270.00 1.10 1471576 1.69
270.00 271.12 1.12 1471578 13.10
271.12 272.37 1.25 1471579 3.72
272.37 273.64 1.27 1471580 2.12
273.64 274.60 0.96 1471581 8.87
274.60 275.60 1.00 1471582 9.77
275.60 276.60 1.00 1471583 11.80
155.00 156.00 1.00 1471652 5.79
156.00 157.00 1.00 1471653 10.30
157.00 158.00 1.00 1471654 11.60
158.00 159.00 1.00 1471655 22.60
159.00 160.00 1.00 1471656 18.30
160.00 161.00 1.00 1471658 23.40
SD-18-234 272.77 273.70 0.93 0.93 708865 19.80 19.80 P449206 17.40
SD-18-234 273.70 274.70 1.00 1.00 708866 60.20 60.20 P449207 19.00
SD-18-234 274.70 275.68 0.98 0.98 708867 3.83 3.83 P449208 2.03
SD-18-255 189.79 190.41 0.62 0.62 923203 11.30 11.30 P449203 17.95
SD-18-255 190.41 191.20 0.79 0.79 923204 76.40 76.40 P449204 40.90
SD-18-255 191.20 191.94 0.74 0.74 923206 6.81 6.81 P449205 132.00
546.45 547.63 1.18 771726 2.62
547.63 548.60 0.97 771727 5.36
554.77 555.93 1.16 771735 3.48
555.93 557.02 1.09 771736 0.66
318.57 319.65 1.08 122815 2.30
319.65 320.73 1.08 122816 1.81
SD-22-414 320.73 321.84 1.11 1.11 122817 6.96 6.96 P449230 2.42
P449220 1.44
4.92 SD-22-414 Jubilee - Main
Shear
2.16 2.05 P449229
P449211 5.38
Jubilee - Main
Shear
Jubilee - Main
Shear
SD-20-291
Jubilee - Main
Shear
2.15
12.65
SD-14-05 3.00 21.43 P449214 20.10
SD-14-05
Jubilee - Main
Shear
3.00 9.23 P449213
3.86 P449219 8.12
SD-20-291 2.25 2.11
Red Pine verified
database WSP
Sample
Number
WSP Au
(g/t)
Jubilee - Main
Shear
SD-14-04
Jubilee - Main
Shear
3.00 6.02
Hole ID Zone From
(m) To (m)
RPX
Sample
Number
Length (m)
SD-14-04 2.96 10.16 P449212 12.80
P449210 6.02
SD-14-04 3.64 6.05
Sampl
es
Compos
ites
Au (g/t)
samples
Au (g/t)
composites
298.36 299.18 0.82 808722 5.74
299.18 300.00 0.82 808723 26.00
303.00 304.00 1.00 808728 6.76
304.00 305.14 1.14 808729 2.76
305.14 306.25 1.11 808730 3.14
SD-23-451 355.38 356.54 1.16 1.16 808779 23.50 23.50 P449217 27.50
356.54 357.70 1.16 808781 5.01
357.70 358.86 1.16 808782 3.77
SD-23-455 682.41 683.76 1.35 1.35 992145 3.64 3.64 P449227 4.02
SD-23-455 683.76 684.90 1.14 1.14 992146 21.60 21.60 P449228 27.40
SD-23-456 251.85 252.80 0.95 0.95 990362 5.58 5.58 P449224 4.70
SD-23-456 252.80 253.56 0.76 0.76 990364 23.00 23.00 P449225 21.70
257.45 258.52 1.07 990368 3.75
258.52 259.63 1.11 990369 3.00
259.63 260.75 1.12 990371 3.17
SD-23-477 297.90 298.52 0.62 0.62 997619 5.05 5.05 P449221 1.58
SD-23-477 299.16 300.11 0.95 0.95 997623 17.10 17.10 P449222 27.70
SD-23-477 305.94 306.46 0.52 0.52 997630 93.20 93.20 P449223 87.20
201.00 202.26 1.26 999843 2.18
202.26 203.51 1.25 999844 2.78
203.51 204.62 1.11 999845 7.46
204.62 205.73 1.11 999846 3.45
205.73 206.73 1.00 999847 1.12
206.73 207.90 1.17 999848 3.03
211.29 212.42 1.13 999853 14.70
212.42 213.42 1.00 999854 12.40
SD-17-107 Jubilee -
Lower Shear 197.00 198.00 1.00 1.00 498071 49.20 49.20 P449209 0.25
250.76 252.00 1.24 125696 6.31
252.00 253.26 1.26 125697 7.42
253.36 254.52 1.16 654177 1.65
254.52 255.73 1.21 654178 0.78
255.73 257.18 1.45 654179 1.25
258.58 259.47 0.89 654182 1.63
259.47 260.34 0.87 654183 2.70
266.86 267.84 0.98 654191 0.68
267.84 268.82 0.98 654192 4.00
268.82 269.79 0.97 654193 1.17
5.87
SD-23-419
SD-22-413 Minto B Shear 2.50 6.87 P449250
SD-24-490 2.13 13.62 P449249
Hole ID Zone From
(m) To (m)
Length (m) RPX
Sample
Number
Red Pine verified
database WSP
Sample
Number
WSP Au
(g/t)
2.16 P449244 2.40
SD-23-419 2.93 1.95 P449245 0.72
Minto B Shear
3.82 1.22 P449243 1.46
SD-23-419 1.76
Jubilee - Main
Shear
SD-24-490
Jubilee - Main
Shear
2.51 2.48 P449246 2.59
13.05
SD-24-490 2.17 2.15 P449248 1.89
SD-24-490 2.22 5.46 P449247 5.82
Jubilee - Main
Shear
Jubilee - Main
Shear
SD-23-456 3.30 3.30
4.12 P449216
P449226 4.19
3.84
SD-23-451 2.32 4.39 P449218 2.03
SD-23-451
Jubilee - Main
Shear
1.64 15.87 P449215 12.65
SD-23-451 3.25
Sampl
es
Compos
ites
Au (g/t)
samples
Au (g/t)
composites
SD-22-373 161.15 162.10 0.95 0.95 804249 21.70 21.70 P449239 6.99
SD-22-373 162.10 163.16 1.06 1.06 804155 93.20 93.20 P449240 116.00
SD-22-373 163.16 164.17 1.01 1.01 804157 1.76 1.76 P449241 0.52
SD-18-222 Minto Mine
Shear 257.88 258.60 0.72 0.72 713784 46.50 46.50 P449242 8.18
SD-17-171 200.38 201.39 1.01 1.01 524057 11.30 11.30 P449232 12.55
SD-17-171 201.39 202.30 0.91 0.91 524058 2.94 2.94 P449233 2.82
SD-17-115 108.93 109.96 1.03 1.03 498141 5.71 5.71 P449234 3.26
SD-17-115 109.96 110.96 1.00 1.00 498142 16.40 16.40 P449235 21.00
SD-17-105 92.00 92.97 0.97 0.97 373214 11.50 11.50 P449236 8.92
SD-17-105 94.00 95.00 1.00 1.00 373216 6.33 6.33 P449237 2.67
95.00 96.00 1.00 373217 2.72
96.00 97.00 1.00 373218 2.04
152.93 153.62 0.69 372166 19.80
153.62 154.31 0.69 372167 20.20
12.85
2.38 P449238 2.63
SD-17-86 Minto Mine
Shear 1.38 20.00 P449231
Minto Mine
Shear
Minto Mine
Shear
Minto Mine
Shear
Minto Mine
Shear
WSP Au
(g/t)Hole ID
SD-17-105 2.00
Zone From
(m) To (m)
Length (m) RPX
Sample
Number
Red Pine verified
database WSP
Sample
Number
Appendix 2 – Drill core assay results from the independent verification sampling of
historical drill core samples by WSP
Samples Composi
tes
Au (g/t)
samples
Au (g/t)
composites
174.80 175.56 0.76 38747 0.00
175.56 176.48 0.92 38748 2.19
176.48 177.39 0.91 38749 2.47
177.39 178.31 0.92 38750 0.82
0.76 1.52 0.76 27523 0.34
1.52 2.29 0.77 27524 0.00
2.29 3.05 0.76 27525 0.00
3.05 3.81 0.76 27526 1.03
3.81 4.57 0.76 27527 0.69
4.57 5.33 0.76 27528 0.34
5.33 6.10 0.77 27529 0.34
6.10 6.86 0.76 27530 0.00
6.86 7.62 0.76 27531 0.00
7.62 8.38 0.76 27532 0.00
8.38 9.14 0.76 27533 0.00
9.14 9.91 0.77 27534 0.00
9.91 10.67 0.76 27535 0.00
10.67 11.43 0.76 27536 0.34
11.43 12.19 0.76 27537 0.34
12.19 12.95 0.76 27538 0.00
12.95 13.72 0.77 27539 1.37
13.72 14.48 0.76 27540 7.20
14.48 15.24 0.76 27541 3.43
0.00 0.76 0.76 28104 0.00
0.76 1.52 0.76 28105 0.00
1.52 2.29 0.77 28106 0.69
2.29 3.05 0.76 28107 0.00
3.05 3.81 0.76 28108 0.00
3.81 4.57 0.76 28109 0.00
4.57 5.33 0.76 28110 0.00
WSP Sample
Number WSP Au (g/t)
Length (m) Red Pine reconciled
database
Hole ID From
(m) To (m)
Sample
Weight
(kg)
RPX Sample
Number
P4491623.51 3.38 0.87S235 1.43
P4491606.86 5.90 1.22U0644L5 0.30
P4491597.62 6.17 1.17U0644L5 1.27
P4491575.33 4.41 0.31U0658L5 0.10