Red Pine Continues to Intersect Gold Mineralization in the Hanging Wall of the Surluga Deposit: 1.65 g/t gold over 29.17m including 6.64 g/t gold over 5.87m
Red Pine Continues to Intersect Gold Mineralization in the Hanging Wall of the
Surluga Deposit: 1.65 g/t gold over 29.17m including 6.64 g/t gold over 5.87m
TORONTO, Feb. 16, 2023 -- Red Pine Exploration Inc. ( TSXV: RPX, OTCQB: RDEXF ) (“Red Pine” or the “Company”) is
pleased to report new drill results from its continuing exploration program. The results demonstrate the pervasiveness of gold
mineralization over broad areas surrounding the Surluga resource, including significant intersections in the hanging wall of the
Jubilee Shear Zone.
• Significant intersections in the Minto B/Jubilee Triangle (Figure 1) confirm the presence and continuity of gold
mineralization in the area where the two structures Minto B and Jubilee shear are converging.
◦ 0.83 g/t gold over 72.06m in SD-22-404 (Figure 2)
◾ Includes 1.65 g/t gold over 29.17m including 6.64 g/t gold over 5.87m in the Minto B Shear Zone
◦ 0.66 g/t gold over 128.85 m in SD-22-417 (Figure 3)
◾ Includes 3.28 g/t gold over 8.44m in the Jubilee Shear Zone
Several shallow mineralized intersections in the Minto C Shear System located east of the Minto B Shear Zone.
◦ Includes 1.75 g/t gold over 8.26m including 10.9 g/t over 1.05 m in SD-22-404
• Extension of the Surluga North Vein Network 105 m east of the intersection in SD-22-396 in SD-22-405
◾ Includes 2.56 g/t gold over 1m in SD-22-405 and 4.3 g/t gold over 1.48m in SD-22-403
• Gold mineralization is proven to extend 450m down-dip of the resource boundary in the Surluga North area at the
northern limit of the current Surluga resource.
• Multiple mineralized intersections in the Jubilee Shear system south of the Parkhill Fault
◦ Includes the intersection of 5.81 g/t gold over 1.49 m in JS-22-398
◦ Support the persistence of gold mineralization in that underexplored segment of the Jubilee shear system
• Identification of new mineralized structures in the Nyman-Grace mineralized system.
◦ New results indicate the persistence of the Grace Shear Zone beyond the area where it was mined in the early
20th century.
◦ New mineralized structures discovered in DG-22-338 north of the Grace Shear Zone
Quentin Yarie, President and CEO of Red Pine Exploration commented:
“As we begin our 2023 program focused on resource growth, we continue to evaluate the potential of a hybrid open
pit/underground constrained resource (Press release December 06, 2022). In the attached cross section, the continuity of gold
mineralization within the Jubilee shear is apparent at lower cut-offs that may be conducive to a shallow open pit with a
potential of adding tonnage and ounces to the existing Surluga deposit. Our focus for 2023/24 remains to be an increase in the
resource(s) on the Wawa Gold Project.”
Table 1– Highlights from drilling in the Wawa Gold Corridor (Figure 1)
Hole From (m) To Length (m)* Visible Gold Gold (g/t) Zone(m)
SD-22-404
19.59 21 1.41 0.68 Minto C Shear System
40.44 48.7 8.26 1.75
Minto C Shear SystemIncluding
47.65 48.7 1.05 10.9
164 168.36 4.36 0.41 Shear Zone
210.47 282.53 72.06 0.83 Minto B/Jubilee Triangle
Including
Minto B/Jubilee Triangle – Minto B
Shear Zone
209.43 238.6 29.17 1.65
That includes
230.57 231.57 1 14.13
233.5 236.44 2.94 7.85
Including
Minto B/Jubilee Triangle – Jubilee
Shear Zone
273.43 282.53 9.1 1.37
which includes
274.46 276.46 2 3.8
307.37 309.51 2.14 1.14
340.2 341.55 1.35 0.69 Shear Zone
356.3 358.76 2.46 0.61 Shear Zone
SD-22-417
67.41 73.44 6.03 1.03 Minto C Shear System
192.32 322.17 128.85 0.66 Minto B/Jubilee Triangle
Including
Minto B/Jubilee Triangle – Minto B
Shear Zone197.57 197.42 0.85 3.75
205.36 206.54 1.18 3.47
263.2 264.2 1 4.03
Minto B/Jubilee Triangle – Jubilee
Shear Zone
270.56 279 8.44 3.28
which includes
277 279 2 6.45
316.8 317.8 1 VG 13
347.2 348.5 1.3 1.13 Shear Zone
SD-22-405
183.29 184.29 1 0.72
Surluga North Vein Network
196.36 197.36 1 0.48
200.36 217.4 17.04 0.33
Including
200.36 201.86 1.5 1.74
214.4 217.4 3 0.8
228 229 1 2.56
SD-22-402
57.47 58.97 1.5 0.6 Minto C Shear System
180.29 181.35 1.06 0.41 Minto B Shear Zone190.59 194.82 4.23 0.41
275.98 307.1 31.12 VG 0.66
Jubilee Shear Zone – gap in 2 g/t
envelope of 2019 resource
Including
275.98 277.15 1.17 VG 2.02
285.8 288.03 2.23 2.14
306.15 307.1 0.95 2.96
SD-22-403
208.47 209.95 1.48 4.3 Surluga North Vein Network
344.69 347.31 2.62 1.7 Surluga North Vein Network
418.87 423.19 4.32 1.17 Jubilee Shear Zone – Surluga
North area
SD-22-357 176.34 179.93 3.59 0.8 Surluga North Vein Network256.5 257.26 0.76 1.54
SD-22-401
386.05 389.6 3.55 0.78 Jubilee Shear Zone – Surluga
North area
400 401.2 1.2 0.49
SD-22-407
42.7 51.58 8.88 0.97
Minto C Shear System
Including
42.7 43.62 0.92 3.57
49 49.82 0.82 5.72
Jubilee and Minto Stockwork
SD-22-360 16.18 16.82 0.64 5.95 Minto Stockwork/Sadowski Vein
System
SD-22-342 638.21 639.42 1.21 1.31
Jubilee Shear Zone – Northern
extension the Surluga South zone 710.37 712.37 2 0.88
Darwin-Grace and Jubilee South of the Parkhill Fault
DG-22-338
161.47 162.83 1.36 0.76
Shear Zone - Discoveries189.86 191 1.14 2.43
198.75 199.87 1.12 2.42
222.11 223.17 1.06 1.58
302.45 303.45 1 1.34 Grace Shear Zone
DG-22-351 99.27 100.27 1 2.05 Nyman Shear Zone
JS-22-356 242.55 243.55 1 2.55 Jubilee Shear System south of the
Parkhill Fault
JS-22-369
238.89 241.06 2.17 0.5
Jubilee Shear System south of the
Parkhill Fault245.3 246.29 0.99 0.43
312.23 317.68 5.45 0.46
JS-22-398
30.85 32.35 1.5 0.5
Jubilee Shear System south of the
Parkhill Fault
48.35 49.8 1.45 1.38
171.05 171.97 0.92 0.65
194.11 195.6 1.49 5.81
223.29 224.46 1.17 0.59
Assay results presented over core length. True width for the intersections varies between 35 to 90% depending on the
intersected geological structure
Red Pine Exploration Inc. announces changes to Management.
Red Pine Exploration Inc. announces that effective immediately, Jim O’Neill, Chief Financial Officer (“CFO”), has left the
Company and we wish Jim all the best in his future endeavours. The Company begun the search for a replacement.
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.
COVID-19 Precautions
Red Pine has developed and implemented compliant precautions and procedures according to guidelines for 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 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]
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 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 October 31, 2022, 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 - Location of the Minto B / Jubilee Triangle and the current drill hole collar locations from the Surluga Area is
available at https://www.globenewswire.com/NewsRoom/AttachmentNg/936b9a07-8de1-4da6-b007-40e21cfffc28
Figure 2 - Cross Section of hole SD-22-404 with the Minto B /Jubilee Triangle and the Gold found in the Hanging wall and
Footwall of the Surluga Deposit is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d3139dd-3d54-
4453-b1cf-ceab7bff5651
Figure 3 - Cross Section of hole SD-22-417 with the Minto B ./Jubilee Triangle and the Gold found in the Hanging wall and
Footwall of the Surluga Deposit is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a81d345d-ac4e-
441d-bcce-606067e4b325