Red Pine Prospecting Program Discovers Additional Gold Mineralization Immediately West of the Existing Mineral Resource and Acquires Strategic Mining Claim
Red Pine Prospecting Program Discovers Additional Gold
Mineralization Immediately West of the Existing Mineral
Resource and Acquires Strategic Mining Claim
Toronto, Ontario ( December 17, 2024) – Red Pine Exploration Inc. (TSXV: RPX, O TCQB:
RDEXF) (“Red Pine” or the “Company”) is pleased to announce additional assay results from its
2024 prospecting program on the Wawa Gold Project, Ontario. The assay results reported in this
press release are from prospecting in new areas beyond the updated 2024 Mineral Resource
Estimate (“ 2024 MRE ”) described in the National Instrument 43- 101 Technical Report dated
September 30, 2024 (with a resource effective date of August 28, 2024) entitled “National
Instrument 43-101 Technical Report for the Wawa Gold Project (the “2024 Technical Report”).
Michael Michaud, President and CEO of Red Pine, commented: “We are very pleased with
the latest results of the 2024 surface prospecting program for the Wawa Gold Project that
has continued to discover new zones of gold mineralization outside of the 2024 MRE.”
The most recent results, and potentially one of the most important set of results from t he
prospecting program, have outlined a zone of near surface, lower grade mineralization, namely
the Hornblende Shear zone, that extends over at least 2.4 km along strike and is located, on
average, less than 350 m west of the conceptual open pit constraining the 2024 MRE. The
mineralization zones of the Hornblende Shear are not currently included in the 2024 MRE, which
highlights the potential to add to the current open pit mineral resource base.
In addition, prospecting further to the west uncovered high gold grades from extensional quartz
veining that is similar in character and orientation to the higher grade Minto Shear zone.
The prospecting results have confirmed that the gold system extends at least 2.5 km south and
2.7 km north beyond the 2024 MRE and highlights the underexplored nature of much of the
property. Despite the number of exciting prospects , we remain focused on the highest priority
targets planned for the fully funded 25,000 m drill program currently underway with results
expected before end of January 2025.
Red Pine is also pleased to announce that it has acquired a key patented mining and surface
rights claim, measuring 3.8 hectares in size, proximal to the Hornblende shear that has the
potential to be part of a larger potential open pit in the future with additional drilling and resource
expansion.
Highlights from the 2024 Prospecting Results* (Table 1, Figures 1 and 2):
• Discovery of gold mineralization, approximately 500 m south and along strike from the
previously known Hornblende Shear that is subparallel to, and approximately 350 m west
of, the Jubilee Shear:
o grab samples grading up to 9.99 g/t gold were returned and have now extended
the shear over at least 2.4 km along strike.
• Discovery of new networks of extensional veins up to 1.4 km west of the Jubilee Shear in
the Wawa Creek area:
o grab samples from individual veins graded up to 31.30 g/t gold;
o quartz veining is similar to Minto -style high grade quartz veins forming vein
networks or hosted in extensional shear zones.
• Additional high-grade veins identified at the Wawa Goldfield South Zone:
o grab samples from individual veins grading up to 37.70 g/t gold.
Table 1 – Highlights of the prospecting results from grab samples from other areas of the
Wawa Gold Project
Sample
Number X** Y Gold
(g/t)* Areas
1121939 670076 5319762 37.70 Wawa Gold Fields South
1135008 666541 5316537 31.30 Wawa Creek
1135010 666564 5316530 23.20 Wawa Creek
1121938 670056 5319771 13.70 Wawa Gold Fields South
1121598 667312 5316238 9.99 Jubilee West
1121599 667312 5316238 6.22 Jubilee West
1135009 666564 5316530 6.20 Wawa Creek
1121564 667097 5316212 2.47 Wawa Creek
1135039 670682 5315711 0.96 Deep Lake
1135041 670676 5315734 0.47 Deep Lake
* The reader is cautioned that grab samples are selective by nature and that the assay results from grab
samples are not representative of the actual gold grade of the mineralized zones.
** Coordinates are provided in UTM NAD 83 Zone 16
The results indicate:
• The new zone of gold mineralization discovered in the Hornblende Shear in the Jubilee
West area could add, with additional exploration, 500 m of strike to the south to the known
zones of gold mineralization in the Hornblende Shear. The discovered m ineralized shear
corresponds to overprinting orogenic mineralization on older intrusion-related gold (“IRG”)
mineralization zones. The Hornblende/IRG corridor was not included in the 2024 MRE .
Comparable mineralization occurs in the Jubilee Shear as relics zones of early orogenic
mineralization overprinted and remobilized during peak deformation in that structure.
• The identification of new extensional quartz veins , with indications of high- grade gold
mineralization, broadens the surface expression of the mineralized system in the Wawa
Creek area. Located just south of the Parkhill Fault, the narrow veins are NW to NNW
striking and similar to the Minto-style veins formed in the other extensional structures of
the property. Additional work is required to identify additional veins forming a network in
the area.
• The discovery of a vein network with indications of a potential for high-grade gold
mineralization in the Wawa Goldfield South area extends the gold system to new areas
on the Wawa Gold Project. The veins are open down plunge and along strike and warrant
additional work.
Qual
ity Assurance/Quality Control ("QA/QC") Measures
Grab samples are transported in security sealed bags for analysis to Actlabs in Ancaster, Ontario.
Individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are
then placed into durable rice bags and shipped. Grab samples gold assays were obtained by 50-
gram fire-assaying-AA finish or by 1-kilogram screen fire assay . The 1-kilogram screen assay
method is selected for samples anticipated to contain coarse gold and when the fire-assay-AA
finish return results greater or equal to 2.25 g/t gold. The residual coarse reject portions of the
samples remain in storage for a minimum 90-day period if further work or verification is needed.
Red Pine inserts external gold standards (low to high grade) and blanks at least every 40 grab
samples, and routinely insert blanks immediately after samples with visible gold.
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. The Company’s land package hosts
numerous historic gold mines and is over 7000 hectares in size. Red Pine is building a strong
position as a major exploration player in the Michipicoten region.
For more information about the Company, visit www.redpineexp.com
Or contact:
Michael Michaud , President and Chief Executive Officer , at (416) 364- 7024 or
Nei
ther 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 inclu des, but may not be limited to, statements regarding the potential to
add to the current mineral resource base; the Company remaining focused on the highest priority targets
planned for the fully funded 25,000 m drill program currently underway; and the acquisition of a key patented
mining and surface rights claim having the potential to be part of a larger potential open pit in the future
with drilling and resource expansion. Investors are cautioned that forward-look ing 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 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 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, 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, 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.
Fi
gure 1 – Location of the 2024 grab samples
Fi
gure 2 – Photograph of an extensional vein with visible gold in the Wawa Creek area