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News Release
Red
Pine Exploration Drills 4.05 Grams Gold over 35 Metres; Including 7.76 Grams
over 15 Metres, in Timmins-Style Geology
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Multi-Zoned, Ore-Quality Gold System Evolving
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Zones Proximal to DZ3 Corridor Returning Gold Values
October 21, 2010
TORONTO, ON, October 21, 2010�Red Pine Exploration Inc. (�Red
Pine� or the �Company�) (TSX VENTURE:RPX) is pleased to announce the assay
results from its just completed initial drill program on the Michelle zone,
one of multiple gold-bearing zones identified to date on the SaraCourt
Property, located in the Swayze Greenstone Belt, 68 kilometres southwest of
Timmins.
The drilling consisted of 8 drill holes totaling 1,692 metres
(m) designed to confirm the presence of ore grade gold within the Michelle
Zone � a shear zone greater than 300m in length.
Assay Highlights
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RPX10-02 - 4.05 grams/tonne (g/t) over 35m, including 7.76
g/t over 15.42m
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RPX10-08 - 2.65 g/t over 40m
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RPX10-01 - 2.31 g/t over 6m
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RPX10-07 - 3.26 g/t over 4m
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RPX10-06 - 2.84 g/t over 4.4m
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RPX10-03 - 1.12 g/t over 12m
The complete assay results can be viewied on the Red Pine
Exploration Website, click
here to view the assay results.
Large, Multi-Zoned
Ore-Quality Gold System Evolving Around DZ3 Deformation Zone.
Initial drilling, trenching and sampling results suggest that
the Michelle Zone is a part of a large, multi-zoned, ore-quality gold system
evolving on the SaraCourt Property.
Current exploration is focused on discoveries to the north of
the newly identified DZ3 Deformation Corridor (as described in Red Pine�s
press release dated June 7, 2010) � a structure that appears to be an
extension of the Destor-Porcupine Deformation Zone that confines the majority
of gold mines in the Timmins area.
The DZ3 Deformation Corridor runs approximately 20 kilometres
through the SaraCourt Property.
Early Indications and Evidence of Regional Gold System.
Examination of the drill core indicates a strong
lithologic-structural-alteration control to the mineralization typical of
shear-vein systems similar to significant gold deposits seen in the
Timmins-Porcupine Gold Camp.
Quentin Yarie, Red Pine�s Vice President of Exploration comments
�What we are observing in the geophysical data and on the ground are the
features of a Timmins-style camp; that is an northeast-southwest trending
deformation corridor with numerous splays.� Red Pine has exposed and mapped
multiple felsic porphyries that occur on the SaraCourt Property. We have
found our highest gold values in the Michelle and Krista zones, which lie
adjacent to or beneath these systems. Most of the gold mineralization in the
Timmins Gold Camp came from mines within or proximal to similar felsic
porphyries.
Red Pine�s consulting geologist, Hadyn Butler P.Geo said, �Red
Pine�s exploration focus to the north of the DZ3 structure has confirmed that
medium to large gold-bearing shear veins are more extensive than brittle
veins. The permissive shears examined to date, as well as the type of gold
mineralization (shear veins, wide zones of iron carbonate, micro-scaled
ladder structures and uniform finely disseminated pyrite) indicate that
several parallel shear-hosted mesothermal zones have high potential to host
economic gold mineralization.
On-going exploration has identified significant gold mineralized
envelopes associated with strongly carbonatized, pyritized and silicified
shear zones showing classic mesothermal gold signatures.
Emerging New Gold Zones
Identified
The historic database compiled by Red Pine included a large
ground-based magnetic survey and an IP survey from the early 1980�s. These
data sets were complimented by a more recent IP gradient survey conducted by
Quantec Geoscience in 2003. The Company added to this a detailed magnetic
gradient survey by Aeroquest Ltd. of the entire SaraCourt Property, as well
as detailed IP surveys by Abitibi Geophysics over the Michelle and Krista
Zones
Regional prospecting guided by a new detailed airborne magnetic
survey have identified new zones of gold mineralization that will require
additional evaluation to firmly establish the widespread prospectively of Red
Pine�s extensive land holdings.
Zones Proximal to the DZ3
Corridor Returning Gold Values
Based on the geophysical interpretation, new anomalous areas
were identified and a limited number have been prospected at the time of this
release. Of interest is that zones that lie proximal to the DZ3 have returned
excellent gold values
At the western limit of the DZ3 3 grab samples over the
geophysical anomaly returned gold values of 10.9-33.7 g/t. In the centre of
the DZ3 � south of the Michelle Zone returned gold values of 1.0-11 g/t gold.
A northwest trending splay was also identified as an anomaly of
interest. It is situated in the north/centre of the SaraCourt Property. The
grab sample from this anomaly returned values of 3.86 g/t gold.
In all new anomalous areas the geology has been identified as
favorable to hosting gold. The numerous other geophysical targets will
continue to be followed up on with prospecting, trenching and sampling. The
most interesting will be prioritized for future drilling.
Michelle
Zone
A digital database is being constructed utilizing historic Dome
Mines and Greenshields exploration data. Drill collar locations have been
ground-truthed generating new prospective target areas. Outcrop hydro-washing
directed by the geophysical program as well as historic information has
identified additional highly prospective zones that are currently being
evaluated.
Drilling to date has indicated numerous extensive shear vein
systems that are open along strike and at depth. Mineralization is hosted in
local brittle hosts (crystal tuff, altered basalts and porphyry dykes) within
carbonated, silicified and pyritized shear envelopes. To date the crystal
tuff horizons appear to host higher grade mineralization.
Krista
Zone - Strike Length Doubles
Detailed geological mapping, outcrop hydro-washing and
cross-sections are being completed for Red Pine�s first phase of drilling on
the Krista Zone, located 2 kilometers north of the Michelle Zone. This work
has established that the Krista Zone is another strike-extensive shear-vein
system. Historical drilling by Dome Mines and Greenshields indicates a
minimum strike length of mineralization of 300 meters, as well as being open
along strike and to depth.
The Krista Zone has now been exposed and mapped over a distance
greater than 600 metres. The geophysical signature associated with the Krista
Zone indicates a strike length exceeding one kilometer.
As an example of an historical mineralized interval,
Greenshields hole G04-16 returned values of 4.24 grams Au over 3.65 meters*.
Chip sampling surveys have established strike continuity to mineralization.
(*This information is historical in nature and not 43-101
compliant and therefore should not be relied upon. The information was taken
from a summary report on the exploration program for the period November 1,
2002 � December 31, 2003 Coppell, Newton, Dale, Frater Townships by A.P.
David Gamble, February 6, 2004).
Mortimer
Zone
Exploration is on-going on the Mortimer Zone. To date, work has
found new mesothermal brittle vein systems over a regional strike of 3
kilometers.
About The SaraCourt Property
The SaraCourt Property is a regional land package of contiguous,
high-potential gold properties totaling approximately 28,000 hectares of
patented and unpatented mining lands. Located in and along the newly defined
DZ3 Gold Deformation Corridor, the Property holds a series of deformation
zones and regional fault branches that host abundant gold showings and join
the Destor-Porcupine Deformation Zone to the northeast, and join to the
western extension of the Larder Lake Deformation Zone fault that branches to
the southwest. The Destor-Porcupine Fault Zone is spatially associated with gold
deposits in the Timmins-Porcupine Gold Camp that have produced more than 65
million ounces gold to date.
On-site Quality
Assurance/Quality Control Measures
All diamond drill (half core) samples were collected and sealed
on site and shipped under chain of custody supervision to the ALS Minerals
sample preparation laboratory in Timmins, Ontario. Analyses are performed by
ALS Minerals Laboratories in Vancouver, BC. All core samples were selected by
the Red Pine qualified site geologist, and were cut in half on site by
diamond saw. For security, the remaining half core was then resealed in the
original core boxes. Individual half core samples were labeled, placed in
plastic sample bags and sealed. Groups of samples were placed into sealed and
durable rice bags then shipped out by air transport. Remaining coarse reject
portions of all samples remain in storage at the ALS Minerals preparation
laboratory storage facility at Timmins.
Independent Quality Assurance
and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from
the current drilling program. Samples are assembled as batches and are
continuously shipped from the site for immediate testing. Included in each
batch of samples are certified reference standards (every 10 samples) and
blank samples comprised of sterile drill core placed in at random locations
(every 20-30 samples). Quentin Yarie, P.Geo, Vice President of
Exploration is the qualified person for the technical data contained within
this report.
For further
information: please contact
Brent
Nykoliation, Vice President of Business Development or
Richard
Schler, CFO and Chief Operating Officer or Kirk McKinnon, President & CEO
(416)
364-7024, (416) 364-2753 (FAX)
info@redpineexp.com;
http://www.redpineexp.com
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achievements expressed or implied by these forward-looking statements.
Cautionary
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(as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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