Red Pine discovers high-grade gold in un-sampled historic core
Red Pine discovers high-grade gold in un-sampled historic core
TORONTO, Aug. 08, 2018 -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") has received partial
assay results for 135 holes from historic core from its Wawa Gold Project that the Company is sampling as part of its 2018
sampling program. The Company has received assay results for a total of 7,600 of the 11,000 metres of historic core logged
this year and found >0.1 grams per tonne (“g/t”) of gold in 51% of the sampled holes.
Sampling Highlights:
• 8.78 g/t gold over 2.28 metres (calculated true thickness) at the Surluga Deposit in U0728L5;
• 9.36 g/t gold over 0.7 metres (calculated true thickness) in S174W;
• 2.31 g/t gold over 4.88 metres (calculated true thickness) in U0645L5;
• 1.55 g/t gold over 3.8 metres in U0683L5;
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "Our sampling program continues to highlight the
shortcomings of the current deposit model at Surluga as these historic holes were unsampled and therefore assigned a “0”
gold value with the areas considered sterilized within the current resource model. Sterilizing an area removes any ability to
extrapolate mineralization to that area within the model. These historic holes were drilled primarily underground within the
geologic constraints of the existing deposit model. Since we are seeing gold values in 51% of the holes sampled to date,
any value other than “0” assigned to these areas will have a positive impact on any future resource model.”
Sampling of historic core
Since December 2014, Red Pine's sampling of 42,000 metres of historic drilling (from 318 underground and 119 surface drill
holes) continues to add gold in many of the sampled historic boreholes in the Jubilee Shear Zone, as well as in the footwall
and hanging wall of the Surluga Deposit. The spatial distribution of the historic boreholes with notable gold weighted average
increases will positively change the current deposit model (Fig 1).
On-going Drilling Program
Red Pine’s 2018 diamond drill program is focussed on in-filling strategic areas of the Surluga Deposit where the sampling of
historic holes is not possible, or in areas that were not drilled historically. The Company, assisted by Golder Associates, has
devised a drilling program that is designed to maximize its impact on the Surluga Deposit.
Table 1 – Highlights of the historic core sampling program
Hole
Before/
After
sampling
Structure From
(m)
To
(m)
Intersection
length
(m)
Calculated
True
Width
(m)
Metal
Factor
Grade
(g/t
gold)
%
changes
length
%
changes
metal
factor
%
remaining
un-
sampled
S174W Before Jubilee 169.16171.91 2.75 2.12 0.212 0.1 132 3088 43After 169.16175.56 6.4 4.93 6.75 1.37
S246 Before Jubilee 202.08272.64 70.56 54.33 36.38 0.67 0 5.4 49After 202.08272.64 70.56 54.33 38.34 0.71
S279 Before Jubilee 146.55167.03 20.48 15.77 46.42 2.94 115 9.2 0After 146.55 190.5 43.95 33.84 50.68 1.50
U0011AL6Before Jubilee 1.22 25.91 24.69 15.55 15.11 0.97 0 16 28After 1.22 25.91 24.69 15.55 17.60 1.13
U0020L6 Before Jubilee 0 5.79 5.79 3.88 14.83 3.82 65 7.5 22After 0 7.69 9.54 6.39 15.93 2.49
U0532L5 Before Jubilee 0.3 16.76 16.46 10.37 3.26 0.31 0 84 9.7After 0.3 16.76 16.46 10.37 5.99 0.58
U0609L5 Before Jubilee 1.52 16.76 15.24 9.75 3.85 0.40 0 15 0After 1.52 16.76 15.24 9.75 4.42 0.45
U0613L5 Before Jubilee 0 21.95 21.95 14.05 8.83 0.63 46 11 20After 0 32 32.00 20.48 9.82 0.48
U0614L5 Before Jubilee 0 22.25 22.25 14.24 6.37 0.45 27 37 17After 0 28.35 28.35 18.14 8.76 0.48
U0618L5 Before Jubilee 0.61 17.77 17.16 16.82 12.15 0.72 37 16 13After 0.61 24.08 23.47 23.00 14.14 0.61
U0635L5 Before Jubilee 1.52 16.15 14.63 9.36 5.71 0.61 0 40 0After 1.52 16.15 14.63 9.36 8.00 0.85
U0637L5 Before Jubilee 0 9.45 9.45 6.05 2.31 0.38 11 36 22After 0 10.52 10.52 6.73 3.14 0.47
U0638L5 Before Jubilee 0 27.74 27.74 27.19 26.71 0.98 0 12 14After 0 27.74 27.74 27.19 30.01 1.10
U0641L5 Before Jubilee 0.76 4.57 3.81 2.44 1.66 0.68 80 82 0After 0.76 7.62 6.86 4.39 3.03 0.69
U0645L5 Before Jubilee 0 8.53 8.53 5.46 3.90 0.72 164 300 2.4After 0 22.56 22.56 14.44 15.62 1.08
Hole
Before/
After
sampling
Structure From
(m) To (m)
Intersection
length
(m)
Calculated
True
Width
(m)
Metal
Factor
Grade
(g/t
gold)
%
changes
length
%
changes
metal
factor
%
remaining
un-
sampled
U0647L5Before Jubilee 0 20.57 20.57 13.16 12.83 0.97 48 10 7.5After 0 30.48 30.48 19.51 14.16 0.73
U0648L5Before Jubilee 0 7.62 7.62 7.47 13.25 1.77 24 6.6 0After 0 9.45 9.45 9.26 14.12 1.52
U0656L5Before Jubilee 4.57 21.34 16.77 7.71 1.78 0.23 27 38 8.6After 0 21.34 21.34 9.82 2.47 0.25
U0659L5Before Jubilee 0.3 12.19 11.89 11.65 30.34 2.60 67 6.7 0After 0.3 20.12 19.82 19.42 32.38 1.67
U0670L5Before Jubilee 17.07 46.24 29.17 13.71 21.31 1.55 32 2.1 11After 7.62 46.24 38.62 18.15 21.77 1.20
U0674L5Before Jubilee 42.82 66.75 23.93 8.14 8.19 1.01 1.9 3.4 6.3After 42.37 66.75 24.38 8.29 8.47 1.02
U0683L5Before Jubilee 14.63 43.89 29.26 18.73 25.21 1.35 31 35 8.3After 5.49 43.89 38.40 24.19 33.38 1.38
U0718L5Before Jubilee 71.63 73.61 1.98 1.15 1.60 1.39 246 90 37After 66.75 73.61 6.86 3.98 3.03 0.76
U0728L5Before Jubilee 0 16.31 16.31 13.54 59.49 4.39 89 36 30After 0 30.78 30.78 25.55 80.78 3.16
U0736L5Before Jubilee 2.9 16.31 13.41 13.14 48.33 3.68 22 11 22After 0 16.31 16.31 15.98 53.67 3.36
U0739L5Before Jubilee 0.46 21.18 20.72 20.31 24.98 1.23 2.2 2.9 10After 0 21.18 21.18 20.76 25.71 1.24
U0893L6Before Jubilee 0.73 28.35 27.62 13.53 35.71 2.64 2.6 2.3 2.6After 0 28.35 28.35 13.89 36.53 2.63
U0907L6Before Jubilee 9.75 28.35 18.60 8.74 4.11 0.82 13 10 0After 7.32 28.35 21.03 9.88 4.65 0.80
U0920L6Before Jubilee 0 7.62 7.62 7.54 6.68 0.89 58 21 5.2After 0 12.04 12.04 11.92 8.10 0.68
U0984L6Before Jubilee 4.63 23.47 18.84 18.46 54.38 2.95 5.89 8.6 9.6After 3.54 23.47 19.93 19.53 59.05 3.02
U0995L6Before Jubilee 0.91 20.42 19.51 7.41 46.85 6.32 0 6.4 0After 0.91 20.42 19.51 7.41 49.86 6.72
U1117L3Before Jubilee 16.46 32.49 16.03 10.42 29.84 2.86 99 7.7 0After 0.61 32.49 31.88 20.72 32.14 1.55
U1660L5Before Jubilee 2.13 42.82 40.69 26.04 24.65 0.95 0 20 28After 2.13 42.82 40.69 26.04 29.50 1.13
*Calculated using the calculated true width of the intersection
Wawa Gold Project Background
The Wawa Gold Project consists of over 5,500 hectares and hosts several former mines with a combined historic production of
120,000 oz gold 1. To date, the largest gold deposit on the property is the Surluga Deposit, which hosts a NI 43-101 Inferred
Resource of 1,088,000 oz gold at an average grade of 1.71 g/t (using a 0.5 g/t cut-off) contained within 19.82 million tonnes2.
Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 42,000 m of historic core that was
never sampled by previous operators of the project, and aggressive drilling campaigns. To date, the Company has completed
over 52,000 m of drilling and made four discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the
Hornblende-William Zone; the Minto Mine South Zone and; the Grace-Darwin Zone. These are part of the Wawa Gold Corridor,
a gold-mineralization zone that extends for more than 5 km.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource and connect
the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor.
The Company is well positioned to fund its share of the Wawa Gold exploration program.
As such, the sampling and drill programs are expected to continue through 2018.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security-sealed bags for analyses to Activation Laboratories Ltd. in Ancaster, Ontario.
Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice
bags and then shipped. The remaining 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. is the qualified person responsible for preparing, supervising and approving the scientific and technical
content of this news release.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The
Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".
Red Pine has a 60% interest in the Wawa Gold Project with Citabar LP. holding the remaining 40% interest. Red Pine is the
operator of the project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com.
1Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc.
(effective May 26, 2015)). The report is available on www.SEDAR.com under Red Pine’s profile.
2NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade
for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes
open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95
percent (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada)
Inc (effective May 26, 2015)).
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.
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 predictions and involve
known and unknown risks, uncertainties and other factors that 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ca2f3095-
7567-4905-ba2f-722c3cc854cb
Or contact:
Quentin Yarie, President & CEO, (416) 364-7024, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]