Red Pine Exploration

Published : February 12th, 2015

Red Pine Drills 48.66 Metres of 4.41 g/t Gold Including 16.60 Metres of 11.13 g/t Gold and Begins Airborne Geophysical Survey at the Wawa Gold Project

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Keywords :   Canada | Diamond | Gold | Helicopter | Storage | Water |

Red Pine Drills 48.66 Metres of 4.41 g/t Gold Including 16.60 Metres of 11.13 g/t Gold and Begins Airborne Geophysical Survey at the Wawa Gold Project

TORONTO, ONTARIO--(Marketwired - Feb 12, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) (the "Company" or "Red Pine") drilled six exploration holes on the Surluga Gold Deposit in December 2014. Results from Hole SD-14-04, which now completes all assay results from that drilling campaign, are summarized below:

Grams per tonne ("g/t")
Hole ID From (m) To (m) Length* (m) Gold (g/t)
SD-14-04 248.86 297.52 48.66 4.41
incl. 260.75 277.35 16.60 11.13
*Lengths reported above in metres ("m") are drill intersected core and do not represent true widths.

In addition to the Main North - North East trending gold-bearing Jubilee shear zone, Red Pine's December 2014 exploration program identified a series of East and North-East ("ENE")-oriented shear zones that are dipping to the South in the Surluga deposit. These sets of ENE shear zones are parallel to the gold bearing shear zones hosting historical gold mineralization in the Parkhill and Darwin historical mines, located further to the south. The average gold grades reportedly* mined from the Parkhill and Darwin mines are 14.81 grams per tonne ("g/t") and 13.27 g/t respectively.

Down-hole structural measurements taken in hole SD-14-04 seem to indicate that the gold mineralization zone intersected in this hole is influenced by these ENE-oriented shear zones.

* disclosed in the NI 43-101 technical report titled "Amended Technical Review and Mineral Resource Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada for Augustine Ventures Inc." dated October 12, 2012 and prepared by Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of Watts, Griffis and McOuat, Consulting Geologists and Engineers. The report is available on www.SEDAR.com under Augustine's profile.

Diamond Drill Hole Locations (see Figure 1)

Hole_ID Northing (M) easting (M) AZ Dip Depth (M)
SD-14-01 668306.4 5316786 317.5 -62 127.69
SD-14-02 668306.7 5316786 328 -65 231
SD-14-03 668441.6 5316567 340.1 -62 309
SD-14-04 668449.3 5316300 340 -65 330
SD-14-05 668364.9 5317013 234 -47 234
SD-14-06 668205.3 5315775 345 -45 342

Hole SD-14-04 (see Figure 2)

An influx of gold-bearing solutions from the ENE-oriented shear zones have likely contributed to the marked increase in the thickness and the grade observed in this area of the Surluga deposit. Red Pine will look to expand this zone during the current drill program by drilling a 50 metre offset hole to the ENE of Hole SD -14-04.

Red Pine Commences Airborne Geophysical Survey as Drilling Progresses

Red Pine has retained Scott Hogg and Associates in conjunction with Tundra Airborne Surveys Ltd. to conduct and evaluate the results of an airborne survey over the Wawa Gold Project claim area. They will be using a helicopter towed, 3 axis magnetic gradiometer system for this survey.

Quentin Yarie, President and COO of Red Pine, commented, "Based on existing magnetic data and our ground magnetic survey conducted in December 2014 it appears the gold bearing shear zones have a diagnostic magnetic signature. The survey data will be used to better map the known areas of mineralization as well as help identify potential new mineralization zones as intersected in Hole SD-14-04."

Wawa Gold Project Highlights

  • Located in Wawa, Ontario, an area of significant historical and current gold exploration (since 1890's) and production (1902 to 1991);
  • 172 patented and leased and unpatented mining claims within the McMurray Township, a total of 2,426 hectares;
  • 182 claim units on crown land, a total of 2,912 hectares;
  • Property hosted eight past producing mines with historic production of over 120,000 ounces (Watts, Griffis and McQuat, NI 43-101 technical report dated October 15, 2012);
  • Inferred resource of 1,072,335 ounces at 1.49 grams per tonne gold contained in 22.355 million tonnes, open along strike and at depth;
  • Proximity to established regional infrastructure (roads, rail, regional airport, high voltage power lines, water);
  • Assumption agreement in place with Augustine Ventures (CSE:WAW) and Citabar.

On-site Quality Assurance/Quality Control ("QA/QC") Measures

Drill core samples are transported in security-sealed bags for analyses at 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 that are then shipped. The remaining coarse reject portions of the samples remain in storage at the Activation Laboratories Ltd. in Ancaster, Ontario as required in the event that 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 and is responsible for overseeing all aspects of the company's exploration programs.

About Red Pine Exploration Inc.

Red Pine Exploration 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".

For more information about the Company visit www.redpineexp.com.

The Mineral Resource is disclosed in the NI 43-101 technical report titled "Amended Technical Review and Mineral Resource Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada for Augustine Ventures Inc." dated October 12, 2012 and prepared by Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of Watts, Griffis and McOuat, Consulting Geologists and Engineers. The report is available on www.SEDAR.com under Augustine'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. Forward-looking statements are statements which relate to future events. 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.

Read the rest of the article at finance.yahoo.com
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Red Pine Exploration

EXPLORATION STAGE
CODE : RPX.V
ISIN : CA75686Y1088
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Red Pine is a gold and nickel exploration company based in Canada.

Its main exploration properties are ABITIBI WEST, MOFFATT, MT LOGANO and SARACOURT in Canada.

Red Pine is listed in Canada. Its market capitalisation is CA$ 138.8 millions as of today (US$ 112.1 millions, € 96.6 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.01, and its highest recent level on March 26, 2021 at CA$ 0.85.

Red Pine has 261 799 984 shares outstanding.

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