Red Pine Intersects High-Grade Gold in the Jubilee Shear Zone - 34.4 g/t over 3.7 m within 12.7 m at 10.6 g/t; 4.6 g/t over 6.2 m within 41 m at 1.6 g/t (all in true width)
TORONTO, March 04, 2019 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") announces new results from its delineation drilling of the Surluga Deposit (“Surluga” or the “Deposit”). The Surluga Deposit1 is one of two (2) known resources, identified to date, on the large 6,519 hectares Wawa Gold Property, located near Wawa, Ontario. These latest results will be included a revised NI 43-101 resource estimate for the Deposit expected in Q2 2019.
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Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "Our in-fill drilling program in the Surluga Deposit continues to discover zones of high-grade mineralization inside and outside of the current footprint of the inferred resource. The holes reported here were planned to close gaps identified in the process of updating the current Surluga Deposit. Most of the tested gaps are adjacent to the existing underground infrastructure of the Surluga and Jubilee Mines.”
Drilling highlights (Table 1):
- Discovery of high-grade gold in delineation holes of the Surluga Deposit:
- Hole SD-18-255 contains 10.6 g/t gold over 12.7 m (true width) including 34.4 g/t gold over 3.7 m (true width);
- Hole SD-18-258 contains 1.6 g/t gold over 41.0 m (true width) including 5.2 g/t gold over 3.1 m and 4.6 g/t gold over 6.2 m (true width);
- Hole SD-18-251 contains 4.0 g/t gold over 2.9 m (true width).
Red Pine’s work to improve its understanding of the geological factors that control higher-grade gold mineralization in the Surluga Deposit, has enabled the Company to identify zones where significant gold mineralization can be expected. Holes SD-18-251, 252 and 254 intersected a shallow zone of high-grade mineralization at the southern end of the Surluga Deposit. Hole SD-18-255 discovered the deeper extension of this same zone of high-grade mineralization. Additional drilling will be necessary to define the zone’s size and possible extension.
Infill and confirmation drilling in the Jubilee Shear Zone
Red Pine’s 2018 diamond drill program, from July to early January 2019, targeted strategic areas in the Surluga Deposit where geological modelling suggested that high-grade mineralization would be discovered. Drilling results to date support the potential for the Surluga Deposit to host a higher-grade gold resource, accessible using the existing underground developments of the Surluga Mine. Recent drilling is also confirming that additional gold zones exist below the Jubilee Shear Zone (host of the Surluga Deposit) and that higher-grade mineralization can be found in those gold zones. Assay results for another 20 infill drill holes completed in the Surluga Deposit are still pending. The Company remains on track to deliver an updated resource estimation for the Surluga Deposit in Q2 2019.
| Table 1. Highlights of the 2018 drilling results in the Jubilee Shear Zone | ||||||||||
| Hole | From (m) | To (m) | Length (m)* | Calculated true width (m) | Gold (g/t) | Az | Dip | X | Y | Z |
| SD-18-249 | 190.7 | 199.6 | 8.9 | 7.4 | 0.8 | 359 | 64 | 668112 | 5316045 | 376.3 |
| SD-18-251 | 162.1 | 176.2 | 14.1 | 13.4 | 1.1 | 323 | 61 | 668111 | 5316045 | 376.3 |
| Including | ||||||||||
| 173.2 | 176.2 | 3.0 | 2.9 | 4.0 | ||||||
| SD-18-252 | 171.2 | 182.3 | 11.1 | 10.3 | 0.6 | 306 | 76 | 668111 | 5316045 | 376.3 |
| SD-18-254 | 167.0 | 175.2 | 8.2 | 8.2 | 1.8 | 279 | 53 | 668111 | 5316045 | 376.3 |
| Including | ||||||||||
| 168.9 | 175.2 | 6.3 | 6.3 | 2.1 | ||||||
| SD-18-255 | 180.7 | 195.8 | 14.1 | 12.7 | 10.6 | 249 | 49 | 668111 | 5316045 | 376.3 |
| Including | ||||||||||
| 189.7 | 193.8 | 4.1 | 3.7 | 34.4 | ||||||
| Including | ||||||||||
| 190.4 | 192.0 | 1.6 | 1.4 | 80.4 | ||||||
| SD-18-257 | 154.1 | 161.5 | 7.4 | 5.6 | 0.7 | 203 | 66 | 667985 | 5315923 | 374.3 |
| SD-18-258 | 225.2 | 269.8 | 44.6 | 41.0 | 1.6 | 313 | 77 | 668169 | 5315848 | 351.2 |
| Including | ||||||||||
| 246.8 | 250.2 | 3.4 | 3.1 | 5.2 | ||||||
| 263.1 | 269.8 | 6.7 | 6.2 | 4.6 | ||||||
Two photos accompanying this announcement are available at :
http://www.globenewswire.com/NewsRoom/AttachmentNg/f2d24123-bfbf-46cc-be7a-89d22c9c5731
http://www.globenewswire.com/NewsRoom/AttachmentNg/09ec5544-da5d-425d-94db-2325d93f572b
Wawa Gold Project Background
Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 42,000 m of historic core that was never sampled by previous operators of the project, and exploration drilling campaigns. To date, the Company has completed over 59,000 m 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 5 kilometres. The Company released a maiden resource of 100,000 ounces of gold at an average grade of 6.8 g/t for the Minto Mine South Deposit2 in November 2018.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource at the Surluga Deposit and connect the other zones of gold mineralization along the Wawa Gold Corridor.
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
1NI 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)).
2NI 43-101 maiden resource of 100,000 ounces of gold at an average grade of 6.8 g/t using a cut-off grade of 3.5 g/t gold (Initial Technical Report for the Minto Mine South Property, Golder Associates Ltd. (effective Nov. 7, 218)).
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.
