Red Pine Continues to Extend Gold Mineralization in all surrounding areas of the Jubilee Shear – drills 5.06 g/t Au over 13.28 m
Red Pine Continues to Extend Gold Mineralization in all surrounding areas of
the Jubilee Shear – drills 5.06 g/t Au over 13.28 m
TORONTO, May 11, 2023 -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF ) (“Red Pine” or the “Company”) is
pleased to report new drilling results from its ongoing exploration program. The new results continue to indicate that broad
zones of gold mineralization exist in the hanging wall and footwall of the Jubilee Shear in geological structures that were
sparsely tested by historic drilling programs.
• Hanging wall of (above) the Jubilee Shear (Figure 2)
◦ Minto B Shear
◾ Intersection of 2.68 g/t gold over 25.22 m in SD-23-419 that includes 38.33 g/t Au over 0.98 m and 12.72
g/t Au over 0.87m (Figure 3):
◦ Minto C Shear System
◾ Near-surface intersection of 5.06 g/t gold over 13.28 m including 11.22 g/t gold over 3.51 m and 10.19 g/t
gold over 2.34 m in the Minto C shear system in SD-22-408
◾ 0.97 g/t gold over 7.86 m including 3.49 g/t gold over 1.06m in the Minto C Shear system in SD-23-419
• Footwall of (below) the Jubilee Shear
◦ Old Tom Vein Network
◾ Intersection of 7.67 g/t gold over 5.89 m, including 48.8 g/t Au over 0.83 m in SD-22-418 (Figure 3)
◾ Other intersections in the Old Tom Vein Network include 70.9 g/t gold over 1.14 m in SD-22-414 and 2.06
g/t gold over 11.45m, including 13.00 g/t Au over 1.00 m in SD-22-417 (see press releases of February
16th and 23rd 2023)
• Jubilee Shear outside the boundary of the 2019 resource
◦ 5.85 g/t over 6.82 m including 13.73 g/t gold over 2.63 m in SD-22-412
◦ 57 m down-plunge of the intersection of 5.46 g/t gold over 10.51 m including 11.48 g/t gold over 3.27 m in SD-22-
414 in the same gap in the 2019 boundary of the resource (see press release of February 23rd 2023).
Quentin Yarie, President and CEO of Red Pine Exploration commented:
“The intersection of significant gold mineralization above and below the Jubilee Shear continues to support that a revised
resource would include a shallow pit constrained resource. Gold mineralization in hanging wall structures like the Minto B
Shear, demonstrates lateral and vertical continuity with the peripheral materials also being mineralized (intrusion related gold
system). The extensional vein networks recently identified on the property continue to demonstrate the significant increased
size potential of a revised resources. The combination of all these new zones of mineralization associated with both the
Surluga and Minto Mine South deposits have the potential to substantially increase our gold inventory.”
Table 1– Highlights from drilling in the Wawa Gold Corridor (Figure 1)
Hole From (m) To
(m)
Length
(m)*
Visible
Gold
Gold
(g/t) Zone
SD-22-399
353.83 374.88 21.05 0.70
Minto B / Jubilee
ShearIncluding
353.83 355.16 1.33 6.67
SD-22-400 151.3 157.13 6.82 0.67 Minto B Shear
SD-22-408
5.49 9.40 3.91 1.15
Minto C shear
System
25.37 38.65 13.28 5.06
Including
29.29 32.8 3.51 11.22
36.31 38.65 2.34 10.19
SD-22-409 99.05 102 2.95 2.96 Minto B Shear156.72 163.27 6.55 1.09
SD-22-410
88.54 98.06 9.52 0.61 Minto B Shear175.21 180.27 5.06 0.55
289.78 296.7 6.92 1.90
Jubilee ShearIncluding
290.98 292.18 1.20 5.49
SD-22-412 141.74 147.47 5.73 0.94 Minto B Shear
SD-22-412
244.3 250.22 5.92 0.82
Jubilee Shear279.97 286.79 6.82 5.85
Including
281.92 284.55 2.63 13.73
SD-22-416
87.15 99 11.85 1.10
Minto B ShearIncluding
92.08 93.36 1.28 6.41
SD-22-418
370.49 376.38 5.89 VG 7.67
Old Tom Vein
Network
375.55 376.38 0.83 VG 48.8
SD-23-419
62.46 70.32 7.86 0.97
Minto C shear
systemIncluding
68.23 69.29 1.06 3.49
243.91 269.79 25.22 2.68 Minto B Shear
Including
259.47 260.34 0.87 12.72 Minto B Shear
267.84 268.82 0.98 38.33 Minto B Shear
*Assay results presented over core length. True width for the intersections varies between 50 to 95% depending on the
intersected geological structure.
Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in Ancaster, Ontario. Individual samples
were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and
shipped. The residual 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. 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.
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 6,900 hectares in size. Led
by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening 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
Carrie Howes, Director Corporate Communications, 416-644-7375, [email protected]
National 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) 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:” the potential for a hybrid pit and underground project”. Investors are cautioned that forward-looking
information is not based on historical facts but instead reflect 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 reliance 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 following: 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 is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the
Company, including the Company’s annual information form, financial statements and related MD&A for the year ended July
31, 2022, and the interim financial reports and related MD&A for the period ended January 31, 2023, 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 and 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.
Figure 1 - Plan Map of the Drilling Results
Figure 2 - Minto B Shear Zone in the Hanging Wall of the Surluga Deposit
Figure 3 - Cross Section of Holes SD-22-418 and SD-23-419
Photos accompanying this announcement are available at
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