Red Pine Extends Gold Mineralization Within and Below the Jubilee Shear - Drills 5.07 g/t gold over 27.35 metres
Red Pine Extends Gold Mineralization Within and Below the
Jubilee Shear - Drills 5.07 g/t gold over 27.35 metres
Toronto, Ontario (February 2 3, 2023) – Red Pine Exploration Inc. (TSXV: RPX,
OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to report new drilling results
from its continuing exploration program. The new results indicate that high -grade vein
networks, comparable to the Surluga North Vein Network intersected in SD-22-396 (5.13
g/t gold over 37.47 m ), are present in the footwall of the Surluga ; an area that was
historically untested and wide open for resource expansion. (Figures 1 & 2)
Highlights
• 5.07 g/t gold over 27.35 metres in SD-22-414 including:
o infilling a large zone classified as barren in the 2019 Surluga Deposit
▪ 5.46 g/t gold over 10.51 m etres including 11.48 g/t gold over 3.27
metres
o Extension/continuation of a series of f high-grade quartz veins below the
Jubilee Shear footwall (Figure 2)
▪ 70.9 g/t gold over 1.14 metres
• Drill holes from 2022 in the footwall of the Jubilee Shear indicated the occurrence
of high -grade quartz veins with the potential to increase the exi sting resource .
These are part of the newly identified intrusive related gold system (IRGS).
o 2.06 g/t gold over 11.45 metres, including 13.00 g/t Au over 1.00 metres in
SD-22-417 130 metres north of the intersection in SD -22-414 (see press
release of February 16th, 2023)
• Visible gold observed in a quartz vein of the same vein network in SD-22-418, 165
metres north of SD-22-414 and 75 metres from SD-22-417 (assays pending)
• In addition, there have been multiple mineralized intersections in the hanging wall
of the Jubilee Shear (Minto B is in the hanging wall of the Jubilee Shear) such as:
• 1.16 g/t gold over 7.12 metres including 5.72 g/t over 0.82 metres in SD-
22-407
Quentin Yarie, President and CEO of Red Pine Exploration commented:
“With the intersection of high -grade gold outside the existing resource of the
Surluga Deposit within the footwall and hanging wall of the Jubilee Shear (host of
the Surluga Deposit) , we continue to demonstrate potential upside to the Wawa
Gold Project . The historic drilling programs focussed on the Surluga Deposit
constrained by the Jubilee Shear and did not routinely extend much beyond those
boundaries. Other existing gaps in our high-grade resource will be infilled as part
of this years planned resource expansion. We will continue to test the mineralized
systems in both the hanging wall and footwall of the Jubilee Shear. All these
results continue to add to the potential for a shallow high grade open pit model.”
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-
407
42.7 49.82 7.12 1.16
Jubilee Hanging Wall
Including
42.7 43.62 0.92 3.57
49 49.82 0.82 5.72
71.59 72.95 1.36 0.50
79.68 81.18 1.50 2.83
93.86 95.42 1.56 1.02
198.63 200.57 1.94 0.99
Minto B Shear
230.55 231.91 1.36 0.54
291 295.02 4.02 2.43
Jubilee Shear
325.29 328.88 3.59 0.93
342.43 343.68 1.25 0.51 Jubilee Shear
SD-22-
414
123.49 124.69 1.20 0.56 Jubilee Hanging Wall
176.15 186.05 9.90 0.56
Minto B Shear
211.47 215.49 4.02 0.41
311.33 338.68 27.35 VG 5.07
Jubilee Shear +
Footwall Vein
Network (IRGS)
Including
318.57 321.84 3.27 VG 11.48
337.54 338.68 1.14 70.90
Assay results presented over core length. True width for the intersections varies between 55 to
90% depending of 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 p rogram, 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 explor ation 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 Ontar io, 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 explo ration, 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,
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:” 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 ad verse 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 pr oject
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 an d 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, est imated 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
Figure 2a - Cross Section of hole SD-22-414 with the Minto B ./Jubilee shears zones and the Gold found in the Hanging wall and
Footwall of the Surluga Deposit
Figure 3b – 3D Capture of SD-22-414 with the Minto B ./Jubilee shears