Red Pine Continues to Intercept Significant Mineralization at the Wawa Gold Project, including 4.53 g/t over 11.53 metres including 15.00 g/t gold over 1.14 metres
Red Pine Continues to Intercept Significant Mineralization at
the Wawa Gold Project, including 4.53 g/t over 11.53 metres
including 15.00 g/t gold over 1.14 metres
Toronto, Ontario (April 03, 2024) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF)
(“Red Pine ” or the “Company”) is pleased to announce assay results from 14 drill holes
representing 5,390 metres (“m”) of diamond drilling from the 2023-2024 resource expansion
program at the Wawa Gold Project. The drilling continues the program commenced in 2021 with
a total of (“ 121”) drill holes for ~54,800 m having now been completed and released from the
current targeted program of approximately 65,000 to 70,000 metres of resource expansion drilling
leading to an updated resource estimate.
Drilling Highlights:
Contained within the Jubilee Shear System (Table 1)
• 4.53 grams per tonne (“g/t”) gold over 11.53 m, including 15.00 g/t gold over 1.14 m
in SD-24-495
• 4.96 g/t gold over 7.87 m, including 16.50 g/t gold over 0.97 m in SD-24-490 (partial
result)
• 3.40 g/t gold over 7.27 m, including 9.71 g/t gold over 2.04 m in SD-23-486
• 2.08 g/t gold over 6.32 m, including 8.16 g/t gold over 1.08 m in SD-23-481
• 2.19 g/t gold over 17.12 m, including 7.86 g/t gold over 2.10 m in SD-23-480
• 3.42 g/t gold over 10.11 m, including 9.22 g/t gold over 2.14 m in SD-23-479
Contained within the Hanging Wall of the Jubilee Shear (Table 2)
• 13.3 g/t over 1.22 m in SD-23-478
• 2.05 g/t over 6.01 m, including 5.61 g/t gold over 0.99 m in SD-24-490
Jean-Francois Montreuil, Vice President, Exploration of Red Pine commented:
"Our focused drilling campaign continues to yield positive results. The program continues to
intersect gold mineralization within and away from the Jubilee Shear, the host of the current
underground Surluga mineral resource1. The latest drill results have intersected significant gold
mineralization in the hanging wall of the Jubilee Shear and could contribute to reducing the
stripping ratio under a proposed open pit scenario . The intersection of significant gold
mineralization below the Jubilee Shear will potentially expand the resource to the north-west. Any
possible open pit resource would also include gold mineralization at lower grades than the cut-off
of the 2019 underground resource1. The drill program also continues to expand the footprints of
significant mineralization in the Jubilee Shear, which is expected to have a positive impact on a
future resource."
Table 1– In and below the Jubilee Shear System (Figures 1 and 2)
Hole From To Length Gold Zone
(#) (m) (m) (m)* (g/t) (name)
SD-23-468
268.62 271.01 2.39 1.54
Jubilee Shear 278.40 286.17 7.77 0.93
SD-23-475
268.79 281.07 12.28 1.07
306.51 308.77 2.26 2.18
Shear Zone (below Jubilee Shear)
380.32 381.62 1.30 2.40
SD-23-478 360.27 364.78 4.51 1.00 Shear Zone (below Jubilee Shear)
SD-23-479
259.13 269.24 10.11 3.42
Jubilee Shear (verification drilling) Including
263.07 264.14 2.14 9.22
SD-23-480
291.30 308.42 17.12 2.19
Jubilee Shear (verification drilling)
Including
291.30 292.31 1.01 4.65
305.12 307.22 2.10 7.86
SD-23-481
216.60 217.80 1.20 2.32 Jubilee Shear
321.08 327.40 6.32 2.08
Shear Zone (below Jubilee Shear)
Including
321.08 322.20 1.12 3.04
326.32 327.40 1.08 8.16
SD-23-482
213.70 214.95 1.25 1.01
Jubilee Shear 219.45 220.62 1.17 0.45
235.62 238.92 3.30 0.97
303.60 304.70 1.10 8.55 Shear Zone (below Jubilee Shear)
SD-23-483
244.35 247.31 2.96 0.43
Jubilee Shear
258.57 259.60 1.03 0.69
281.10 292.90 11.80 1.52
Including
282.18 283.40 1.22 6.66
291.67 292.90 1.23 4.55
SD-23-484
201.69 207.10 5.41 0.91
Jubilee Shear
227.20 228.41 1.21 1.29
350.13 352.82 2.69 0.93 Shear Zone (below Jubilee Shear)
SD-23-485
260.24 261.20 0.96 0.61
Jubilee Shear
294.98 297.06 2.08 5.39
Including
294.98 295.98 1.00 11.00
Hole From To Length Gold Zone
(#) (m) (m) (m)* (g/t) (name)
SD-23-486
206.84 209.12 2.28 2.57
Jubilee Shear
Including
206.84 208.00 1.16 4.00
229.20 236.47 7.27 3.40
Including
232.40 234.44 2.04 9.71
SD-24-490
200.03 207.9 7.87 4.96
Jubilee Shear (partial results)
Including
200.03 201.00 0.97 16.50
203.51 204.62 1.11 7.46
SD-24-494
186.81 196.66 9.85 1.65
Jubilee Shear
Including
186.81 190.50 3.69 2.17
194.25 196.66 2.41 2.60
201.53 204.12 2.59 1.20
SD-23-495
188.91 193.21 4.12 0.41
Jubilee Shear
199.75 211.28 11.53 4.53
Including
199.75 202.68 2.93 5.41
203.77 204.88 1.11 5.13
206.14 208.18 2.04 4.99
210.14 211.28 1.14 15.00
250.26 252.94 2.68 0.51 Shear Zone (below Jubilee Shear)
*Intercepts are calculated using a 0.4 g/t gold cut -off and a maximum of 5 m of internal
dilution with no capping applied and are reported over core lengths. True width is estimated
to vary between 75 to 95% of the reported core length.
Table 2– Hanging wall of the Jubilee Shear (Figures 1 and 2)
Hole From To Length Gold Zone
(#) (m) (m) (m)* (g/t) (name)
SD-23-468
67.50 74.60 7.10 0.51 Sheared Intrusion-related
gold
118.50 119.70 1.20 0.48 Shear Zone
189.75 200.84 11.09 0.48
Minto B
206.12 207.12 1.00 0.49
211.15 214.21 3.06 0.44
225.00 228.16 3.16 0.47
244.80 251.75 6.95 0.41
Hole From To Length Gold Zone
SD-23-478
43.88 45.22 1.34 0.97 Shear Zone
53.28 54.60 1.32 0.62 Shear Zone
237.31 238.53 1.22 13.30 Shear Zone
SD-23-479 104.71 105.87 1.16 0.66 Shear Zone
SD-23-480
15.49 16.96 1.47 0.79 Shear Zone
101.19 103.87 2.68 0.51 Minto B
SD-23-482 196.88 198.00 1.12 1.46 Shear Zone
SD-23-483
93.78 94.86 1.08 0.63 Minto B
122.67 130.80 8.13 0.64
Minto B Including
123.62 124.57 0.95 3.42
SD-23-484 188.83 189.96 1.13 0.99 Shear Zone
SD-23-485 58.18 60.51 2.33 0.43 Minto B
SD-24-490
140.11 146.12 6.01 2.05
Vein Network Including
142.12 143.11 0.99 5.61
SD-24-494 64.02 66.78 2.76 0.47 Shear Zone
*Intercepts are calculated using a 0.40 g/t gold cut -off grade and a maximum of 5 m of
internal dilution with no capping applied and are reported over core lengths. True width is
estimated to vary between 40 to 90% of the reported core length depending on the
mineralization types defining the intersected gold zones.
Discussion of Drill Results
In the hanging wall of the Jubilee Shear, the new results:
• extend the footprints of gold mineralization in the Minto B Shear;
• confirm the presence multiple mineralized shear zones above the Jubilee Shear; and
• confirm the presence of extensional vein network(s) spatially above the 2019 resource in
the Jubilee Shear and between the new shear zones.
The on-going drilling program and the new assay results also improve the understanding of the
geometry and continuity of the zones of gold mineralization located above the Jubilee Shear for
their inclusion in the resource update.
In the Jubilee Shear System, the new results:
• increase the size and improv e the continuity of gold mineralization >= 2 g/t gold in the
main segment of the Jubilee Shear and between the new shear zones; and
• confirm the presence of gold-mineralized shear zones that are parallel and located below
the main zone of the Jubilee Shear that is hosting the 2019 resource.
The on -going drilling program continues to widen the footprints of the mineralized system
centered on the Jubilee Shear System beyond the footprints of the 2019 resource1. It shows that
mineralization of significance and with indications of continuity is present in shear zones below
the Jubilee Shear.
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
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 6,900 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:
Paul Martin, Board Chair and Interim CEO, at (416) 364-7024 or [email protected]
Or
Carrie Howes, Director Corporate Communications, at (416) 644 -7375 or
1 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 fut ure 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 an
updated resource estimate, a possible open pit resource, the potential of a reduced stripping ratio under
a proposed open pit scenario, potentially expanding the resource to the north -west, and continuing to
expand the footprints of significant mineralization in the Jubilee Shear which is expected to have a positive
impact on a future resource . Investors are cautioned that forward-looking information is not based on
historical facts but instead reflect s 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 adv erse 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 ended October 31, 2023 and January 31, 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, es timated 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. Th e
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 - Location of Diamond Drilling Results