Red Pine Reports its Best Intersection in the Hanging Wall of the Jubilee Shear Zone: 5.13 g/t gold over 37.47m, including 25.20 g/t gold over 3.41m
Red Pine Reports its Best Intersection in the Hanging Wall of
the Jubilee Shear Zone: 5.13 g/t gold over 37.47m, including
25.20 g/t gold over 3.41m
Toronto, Ontario (January 6, 2023) – Red Pine Exploration Inc. (TSXV: RPX, OTCQB:
RDEXF) (“Red Pine” or the “Company”) is pleased to report results from its continuing
exploration program. Hole SD-22-396 intersected significant mineralization in the Surluga
North Vein Network above the Jubilee Shear Zone (hanging wall) of the current resources
of the Wawa Gold Project. All reported drill widths are core length unless otherwise stated.
• High-grade mineralization in the Surluga North Vein Network extended laterally to
the north by 115 m
o Gold mineralization is associated with a network of multidirectional quartz-
tourmaline veins
o The vein network is in the hanging wall of the Jubilee Shear Zone and was
intersected at 165 m vertical depth
o Contains 5.13 g/t gold over 37.47 m, including 25.20 g/t gold over 3.41 m in
SD-22-396 (see table 1)
o Other intersections of significance in the Surluga North Vein Network
includes that have previously been released includes:
▪ 8.46 g/t gold over 6.42 m in SD-22-321 (see news release of March
30, 2022) located approximately 200 m SW of SD-22-396
▪ 11.19 g/t gold over 2.61 m in SD-22-326 (see news release of April
19, 2022) located approximately 200 WSW of SD-22-396
o Possibility that Surluga North Vein Network is related to a comparable
quartz-tourmaline vein network intersected 610 m north in 2016 in SD-16-
43.
Quentin Yarie, President and CEO of Red Pine Exploration commented: " These results
from the Surluga North Vein Network demonstrate that significant mineralization exists in
the hanging wall of the Jubilee Shear Zone and validates the potential for a hybrid pit and
underground project. The hanging wall of the Jubilee Shear Zone remains unexplored to
the north of the intersection in SD-22-396, leaving the Surluga North Vein Network open
for further extension toward the intersection of a comparable network of quartz-tourmaline
veins 610 m north in SD-16-43.”
Table 1– Highlights from drilling in the Wawa Gold Corridor (Figure 1)
Hole From (m) To
(m)
Length
(m)*
Visible
Gold
Gold
(g/t) Zone
SD-22-396
229.37 266.84 37.47 VG 5.13
Surluga North Vein Network
Including
238.6 239.6 1.00 VG 19.78
243.59 245 1.41 VG 30.97
246 247 1.00 VG 40.37
249.5 251 1.50 28.77
253.82 256.29 2.47 VG 7.50
Assay results presented over core length. Considering the multi -directional nature of the veins
forming the network hosting gold mineralization, additional drilling will be necessary to constrain
the true width of the mineralized envelope of the vein network.
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 p laced 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 a nalysis 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,
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- Plan Map of Surluga Deposit and Surrounding Shear Zones
Figure 2 - Cross-Section of hole SD-22-396 with all gold assays above 0.5 gpt in the Hanging Wall and Footwall of the Surluga
Deposit