Red Pine Discovers Near Surface Gold in the Surluga Deposit; Drills 3.13 g/t Gold Over 27.9 m, Including 37.3 g/t Gold Over 1.1 m
TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") announces the results of sixteen holes at its Wawa Gold Project, located approximately 2 kilometres (km) east of Wawa, Ontario. The drill holes were part of Red Pine’s 2017-2018 drill program to in fill gaps in the Surluga Deposit and the Minto Mine South Zone.
|
|||||
Drilling Highlights:
- Discovery of near-surface high-grade gold in the Surluga Deposit in the extension of the historic Jubilee Mine:
- SD-17-172 contains 3.13 g/t gold over 27.9m, including 37.3 g/t gold over 1.1m;
- SD-17-170 contains 1.77 g/t gold over 32.6m, including 12.55 g/t gold over 1.7 metres and 11.4 g/t gold over 1m; and
- SD-18-176 contains 2.12 g/t gold over 14.1m, including 11.12 g/t gold over 1 metre:
- Discovery of a new gold zone in the footwall of the Surluga Deposit
- SD-17-172 contains 7.74 g/t gold over 2.9m, including 20.48 g/t gold over 1m.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "As part of our in-fill drilling program on the Surluga Deposit, our team continues to fill in gaps with high-grade gold mineralization. We are working closely with Golder Associates to target strategic gaps in the existing database to maximize the impact of our drilling program on the forth coming resource.”
Table 1. Highlights of the 2017-2018 drilling results in the Wawa Gold Corridor
| Hole | From (m) | To (m) | Length (m)* | Gold (g/t) | Gold Zone |
| SD-17-170 | 85.0 | 117.6 | 32.6 | 1.78 | Jubilee Shear Zone |
| Including | |||||
| 96.0 | 97.0 | 1.0 | 11.4 | ||
| 111.9 | 113.6 | 1.7 | 12.55 | ||
| SD-17-172 | 69.6 | 97.5 | 27.9 | 3.13 | Jubilee Shear Zone |
| Including | |||||
| 72.6 | 73.6 | 1.0 | 10.7 | ||
| 75.6 | 80.6 | 5.0 | 5.65 | ||
| 90.5 | 91.6 | 1.1 | 37.3 | ||
| 147.6 | 151.5 | 2.9 | 7.74 | New discovery | |
| Including | |||||
| 148.5 | 149.5 | 1.0 | 20.48 | ||
| SD-17-176 | 71.9 | 86.0 | 14.1 | 2.12 | Jubilee Shear Zone |
| Including | |||||
| 78.8 | 79.8 | 1.0 | 10.72 | ||
| SD-17-146 | 211.0 | 221.0 | 10.0 | 0.4 | |
| SD-17-157 | 220.6 | 248.8 | 26.2 | 0.88 | |
| Including | |||||
| 238.6 | 245.8 | 7.2 | 2.21 | ||
| SD-17-160 | 171.2 | 184.8 | 13.6 | 0.72 | |
| SD-17-140 | 78.0 | 79.0 | 1.0 | 5.5 | Minto Stockwork |
| 136.0 | 145.2 | 9.2 | 0.61 | ||
| Including | |||||
| 136.0 | 137.0 | 1.0 | 4.43 | ||
| SD-17-151 | 147.0 | 148.0 | 1.0 | 8.1 | Minto Mine South Zone |
| SD-17-158 | 155.2 | 157.5 | 2.3 | 2.6 | |
| SD-17-217 | 308.0 | 309.0 | 1.0 | 3.8 | |
| SD-18-218 | 321.0 | 321.9 | 0.9 | 3.29 | |
| SD-18-219 | 239.4 | 241.5 | 1.1 | 4.28 | |
*Assay results reported over intersection length. In the Minto Mine South Zone, the intersection lengths are estimated to between 60-95% true widths. In the Jubilee Shear Zone for holes SD-17-157, SD-17-160, SD-17-170 and SD-17-172, the intersection lengths are estimated to be between 50-85% true widths. For hole SD-17-176, the intersection length is estimated to represent 40% true width.
Figure 1. Plan map of drilling results
http://www.globenewswire.com/NewsRoom/AttachmentNg/cba9298c-38a1-4394-87ae-7fc702f169e4
Discovery of Higher grade Mineralization in the Surluga Deposit
The geometry of the high-grade zones in the Surluga Deposit are controlled by a strong linear tectonic fabric that has generated zones of high-grade gold mineralization. These zones of higher grade gold can extend longitudinally over hundreds of metres. These high-grade zones have lateral extent from 25m and 150m. The historic drilling pattern of the deposit has left gaps where additional high-grade mineralization may be found that may, if intersected, improve the current inferred resource of the Surluga Deposit. The intersections in SD-17-170, SD-172 and SD-17-176 are in the same area than SD-17-173 where a high-grade zone was intersected. SD-17-173 contained 5.28 g/t gold over 15m. Holes SD-17-130, SD-17-134 and SD-17-137 were drilled outside of the core zone of the Surluga Deposit, and hole SD-17-163 did not contain significant results.
Wawa Gold Project Background
Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 50,000m of historic core that was never sampled by previous operators of the project and aggressive drilling campaigns. To date, the Company has completed over 45,000m 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 5km.
Red Pine’s on-going drill program is designed to expand the size of the existing inferred gold resource and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor. One drill is currently operating non-stop.
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 int0 2019.
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 Operating Manager 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
Or contact:
Quentin Yarie, President & CEO, (416) 364-7024, qyarie@redpineexp.com
Or Mia Boiridy, Investor Relations, (416) 364-7024, mboiridy@redpineexp.com
1,3NI 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)).
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 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.