Red Pine Exploration

Published : December 18th, 2015

RED PINE EXPLORATION DISCOVERS NEW GOLD ZONES, DRILLS 14.28 G/T OVER 2.9 METRES IN THE HORNBLENDE SHEAR ZONE AND 5.13 G/T GOLD OVER 12 METRES IN THE SURLUGA DEPOSIT

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Keywords :   Canada | Gold | Recovery | Storage |

RED PINE EXPLORATION DISCOVERS NEW GOLD ZONES, DRILLS 14.28 G/T OVER 2.9 METRES IN THE HORNBLENDE SHEAR ZONE AND 5.13 G/T GOLD OVER 12 METRES IN THE SURLUGA DEPOSIT

Toronto, Ontario - December 18, 2015 - Red Pine Exploration Inc. (TSX-V: RPX) ('Red Pine' or the 'Company') has received results for holes HS-15-27 through HS-15-31 (see Figure 1). The drill program was targeting the Wawa Gold Corridor that contains the Jubilee Shear Zone, host of the Surluga Deposit (inferred resource of 1,088,000 ounces at 1.71 grams per ton ('g/t') gold), and the Hornblende Shear Zone located in the footwall of the Surluga Deposit.

Highlights from 5 holes for a total of 1,017 metres drilled in the Wawa Gold Corridor include:

  • Holes HS-15-27 to HS-15-30 all discovered shallow gold zones in the Hornblende Shear Zone in an area previously considered sterile. This includes: HS-15-27 - 3.11 g/t gold over 8.1 metres including 5.9 g/t gold over 2.4 metres;
  • Discovery of two gold zones in the Wawa Gold Corridor between the Jubilee Shear Zone and Hornblende Shear Zone (William Zone: HS-15-30 - 1.79 g/t gold over 12.5 metres; MHF zone: HS-15-31 - 1.01 g/t gold over 22 metres);
  • HS-15-31 - 14.28 g/t gold over 2.9 metres in the Hornblende Shear Zone;
  • HS-15-31 - 5.19 g/t gold over 12 metres in the Jubilee Shear Zone.

The results from this drill program suggest that the Surluga Deposit may be part of a large gold system that extends both in the footwall and hanging wall of the currently defined inferred resource, and that most of those gold zones are under-explored (see Figure 1). A 11 metre-wide zone grading 5.44 g/t gold was found in Hole HS-15-31 within a historically densely drilled part of the Surluga Deposit. This shows that historic drilling was not optimized in some parts of the Surluga Deposit.

Quentin Yarie, President and Chief Executive Officer of Red Pine states ' This drilling shows that the footwall of the Surluga Deposit is much more fertile than initially anticipated. It contains many gold zones with evidence of medium- to high-grade material. The exploration program also found that, even after more than a century of exploration, shallow gold zones can still be discovered within less than 150 metres of the existing resource. Defining those gold zones can substantially improve the economics of the existing resources .'

Drilling results in the Wawa Gold Corridor include:

Intervals over 10g/t gold:

Hole ID

From (m)

To (m)

Length (m)*

Gold (g/t)

Structure

Mineralization Type

HS-15-31

72

74

2

12.65

Jubilee Shear Zone

Shear-Hosted Gold

HS-15-31

77

78

1

15.4

Jubilee Shear Zone

Shear-Hosted Gold

HS-15-31

349.5

353.4

2.9

14.28

Hornblende Shear blende Shear Zone

Shear/Replacement-Hosted Gold

*True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width.

Intervals over 5g/t gold:

Hole ID

From (m)

To (m)

Length (m)*

Gold (g/t)

Structure

Mineralization Type

HS-15-27

25

27.4

2.4

5.9

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-28

29.5

30.5

1

5.77

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-30

12.84

14

1.16

5.39

William Gold Zone

Host Replacement Zone

HS-15-31

69

81

12

5.19

Jubilee Shear Zone

Shear-Hosted Gold

HS-15-31

347.5

356

8.5

5.37

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

*True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width.

Intervals over 2.5g/t gold:

Hole ID

From (m)

To (m)

Length (m)*

Gold (g/t)

Structure

Mineralization Type

HS-15-27

25

33.1

8.1

3.11

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-28

25.95

31.5

5.55

2.55

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-29

148

149

1

3.1

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-30

1.5

2.5

1

3.77

William Gold Zone

Host Replacement Zone

HS-15-30

10

14

4

3.7

William Gold Zone

Host Replacement Zone

HS-15-30

155.97

159

2.99

2.65

Hornblende ShearZone

hear/Replacement-HostedGold

HS-15-31

59

84

25

3.12

Jubilee Shear Zone

Shear-Hosted Gold

HS-15-31

191.75

192.3

0.53

2.65

MHF Gold Zone

Host Replacement Zone

*True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width.

Intervals over 0.45g/t gold:

Hole ID

From (m)

To (m)

Length (m)*

Gold (g/t)

Structure

Mineralization Type

HS-15-27

25

36

11

2.32

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-28

25.95

41.3

15.35

1.25

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-29

147

171

24

0.46

Hornblende Shear Zone

Shear-Hosted Gold

HS-15-30

1.5

14

12.5

1.79

William Gold Zone

Host Replacement Zone

HS-15-30

153.5

164.8

11.33

1.33

Hornblende Shear Zone

Shear/Replacement-Hosted Gold

HS-15-31

178.5

200.5

22

1.01

MHF Gold Zone

Host Replacement Zone

HS-15-31

57.5

356

298.5

0.493

Wawa Gold Corridor

*True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width.

Wawa Gold Corridor

Re-interpretation of the geological setting of the Surluga Deposit footwall from historic data indicates that the deposit footwall, between the inferred resource and the Hornblende Shear Zone, could host many gold zones. The broader gold system, that includes both the Surluga Deposit and the prospective Hornblende Shear Zone, was named the Wawa Gold Corridor.

Fall 2015 drilling of the Wawa Gold Corridor demonstrated that the gold zones in the footwall of the inferred resource have grade and thickness similar to the gold zones of the Surluga Deposit. Two new gold zones were also discovered (William and MHF Gold Zones) as well as shallow gold zones in the Hornblende Shear Zone. New types of gold mineralization, previously un-recognized on the property, were also observed in the footwall where gold is not systematically associated with strong shearing. Instead, gold is typically associated with a combination of weak to moderate-strong shearing, and strong hydrothermal replacement in which gold is spatially associated with finely disseminated sulfides. These gold zones are preferentially formed at contacts between geological units.

Possible improvement of the Surluga Deposit inferred resource

Hole HS-15-31 drilled through the Surluga Deposit shows that historic drilling may not have entirely constrained the full extent of some of the higher-grade zones. Where HS-15-31 hit the Jubilee Shear Zone, the modelled thickness of the higher-grade zone was approximately 5.25 metres. The intersection of HS-15-31 shows that the thickness of this higher-grade zone is approximately 20 metres, which represents a 14.75 metres gain on the modelled thickness with the historic results.

Figure 1

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 Timmins, 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 Timmins, 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'.

Red Pine has a 30% interest in the Wawa Gold Project and has entered into a Joint Venture Agreement with Citabar LLP and Augustine Ventures Inc. The Wawa Gold Project is now owned by Citabar/Red Pine/Augustine in the ratio of 40%, 30% and 30%, respectively. The three JVA partners shared in the financing of the Fall 2015 drill program on a pro rata basis. Under the terms of the JVA, Red Pine is the Operating Manager and continues to explore and advance the current gold resource on the property.

Red Pine has signed a Letter of Intent to consolidate ownership of the Wawa Gold Project.

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

Or contact:

Quentin Yarie, President & COO, (416) 364-7024, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]

NI 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)). The report is available on www.SEDAR.com under Red Pine's profile.

The Mineral Resource is disclosed in the NI 43-101 compliant 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 www.noodls.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$ 112.0 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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