Red Pine Exploration Results Improve the Hornblende Shear Zone - 5.67 g/t Gold over 8.5 Metres including 15.16 g/t Gold over 2.9 Metres
NEWS RELEASE
June 29, 2017
Red Pine Exploration Results Improve the Hornblende Shear Zone - 5.67 g/t
Gold over 8.5 Metres including 15.16 g/t Gold over 2.9 Metres
Toronto, Ontario – June 29, 2017 – Red Pine Exploration Inc. (TSX -V: RPX) ("Red Pine"
or the "Company") has received updated results from hole HS-15-31, which was drilled in
the Hornblende Shear Zone , at its Wawa Gold Project, during the Fall of 2015 . The
Hornblende Shear Zone is a parallel shear zone to the Surluga Deposit (inferred resource
of 1,088,000 ounces @ 1.71 g/t gold 1) of similar strike and alteration. These results
support the Company’s belief that the Ho rnblende Shear Zone will host high-grade gold
zones not unlike the Surluga Deposit.
Updated results in the Hornblende Shear Zone include (see Table 1 and Figure 1
below):
Intersection of 5.67g/t gold over 8.5m, including 15.16 g/t gold over 2.9m; and
Increase of the intersection grade by 5.59%
Table 1 – Before and after result for hole HS-15-31
Hole No Before
/After
From
(m) To (m) Intersection
length (m)
Calculated
true width
(m)
Gold
Grade
(g/t)
% Change in
Grade
HS-15-31 Before 347.5 356 8.5 7.99 5.37 5.59 After 5.67
Summary of Red Pine ’s Recent Discoveries and Update on the 20,000m Drilling
Program
Red Pine’s exploration program s, over the past 30 months, have resulted in 4 key
discoveries along the extension of the Surluga Deposit (>1Moz inferred gold resource1):
1. Surluga North
2. Hornblende-William
3. Minto Mine South Zone
4. Grace-Darwin
The four discoveries are part of the Wawa Gold Corridor, a favo urable structural zone
that hosts many gold zones of different sizes, orientation, and types. (see Figure 1).
Red Pine’s on-going 20,000-metre drill program is focussed on three of Red Pine’s four
key discoveries with two drills operating non -stop on the property. The first drill is
currently targeting the Surluga North discovery, where Red Pine’s hole SD -16-45
intersected 14.66 g/t gold over 15.23 metres (the Surluga North high -grade zone ). Red
Pine has completed 7 holes in the Surluga North disco very and plans for additional
drilling in this area will be based on results of the forthcoming Golder Associates ’ Report
on Exploration Potential. The Company anticipates it will receive initial results for the 7
completed holes in the coming weeks.
The second drill is targeting the Minto Mine South Zone discovery where hole SD -17-73
intersected 19.92 g/t gold over 3 metres. Red Pine has completed 20 holes in the area ,
with assay results pending for 14 , of which 8 contained visible gold. The Company
anticipates it will receive these assay results shortly.
Wawa Gold Project
The Wawa Gold prope rty package consists of over 5,5 00 hectares and hosts several
former mines with a combined historic production of 120,000 oz gold2. 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 tonnes1.
Exploration work by Red Pine during the past 30 months has involved the ongoing
sampling of 42,000 metres of historic core that was never sampled by previous operators
of the project (initiated in February 2016) and aggressive drilling campaigns.
In March 2017, the Company completed a 6,000 metres of drilling and immediately
initiated a new 10,000 metres drilling program. This was quickly expanded to 20,000
metres as a second drill was added to the campaign. The aggregate 20,000 metres drill
program is designed to potentially expand the size of the existing inferred gold resource
and connect other zones of gold mineralization (the Wawa Gold Corridor) recently
discovered through drilling and other exploration techniques on the large Wawa Gold
Project property.
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 throughout 2017.
Highlights
100% owned land position between JVA
2 k m southeast of the Municipality of Wawa, Ontario , close to roads, power and
other infrastructure
8 past producing mines on property with historical production of 120,000 oz gold
at 9.04 g/t average grade2
> 1M oz Inferred Gold Resource at 1.71 g/t (0.5 g/t cut-off)1
o Near surface mineralization
o Open in all directions
o Exploration continuing to expand the existing resource
Considerable Growth Potential
o Newly discovered high-grade gold zones in many areas on property
o Gold mineralization extends 5 km in length
Preliminary Metallurgical Study Underway
o Optimization of gold and silver recoveries
Figure 1. Red Pine’s discoveries and 2016-17 drilling overview
On-site 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 are labeled, placed in plastic sample bags and
sealed. Groups of samples are then placed into durable rice bags and then shipped. T he
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, Can ada. 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 LLP . holding the
remaining 40% interest. Red Pine is the Operating Manager of the Project and is f ocused
on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com
Or contact:
Quentin Yarie, President & CEO, (416) 364-7024, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]
1NI 43-101 inferred resource of 1,088,000 ounces of gold a t 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)).
2Mineral 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.
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 a nd 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 expre ssed 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 informat ion,
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.