Red Pine Exploration

Published : September 17th, 2015

Red Pine Identifies High-Grade Gold-Bearing Quartz Veins in the Hornblende Shear Zone on its Wawa Gold Property

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Gold | Recovery | Storage |

Red Pine Identifies High-Grade Gold-Bearing Quartz Veins in the Hornblende Shear Zone on its Wawa Gold Property

TORONTO, ONTARIO--(Marketwired - Sep 17, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") announces that it has received the first assay results from its Summer 2015 exploration program and that grab samples(1) from the quartz veins in the Hornblende Shear Zone (HSZ) have returned gold values between 1.52 and 24.4 grams per tonne (g/t) gold (Table 1). The sampling of the highly strained quartz/shear was limited to four samples due to preferential weathering typical of these types of structures. These results, as well as geological observations, indicate the potential for the HSZ to host high-grade gold mineralization zones similar to those encountered in the Surluga Deposit.(2)

(1) Readers are cautioned that grab samples are selective by nature. The grades and mineralization present are not necessarily representative of other mineralization that may be identified on the property.

(2) There is no certainty that gold mineralization similar to that encountered in the Surluga Deposit will be identified within the Horneblende Shear Zone.

The HSZ is located 200-300 metres west of the Jubilee Shear Zone, which hosts the Surluga Deposit. The interpretation of aeromagnetic data and subsequent Summer 2015 fieldwork, traced the HSZ along a strike length of at least 2 kilometres with an observed surface width that locally exceeds 45 metres. The shear zone consists of a series of alternating high and low strain zones, with individual highly strained zones observed at surface with a measured width greater than 2 metres at surface.

The reported grab samples were taken of the highly strained zones and quartz veins of the HSZ. Each sample consisted of at least 1 kilogram of material and was representative of the targeted unit (HSZ). The grab samples1 returned gold values up to 24.4 g/t for the quartz veins and between 3 and 4 g/t gold for some of the highly strained zones. Additional results from other areas on the property are expected in the coming weeks.

This poorly tested gold-bearing structure also returned historical drill intersection of up to 10.27 metres at 3.01 g/t (U0007L7) (see Figure 1). Additional drilling also identified subsidiary gold-bearing shear zones (0.64 metres at 8.1 g/t gold in S087 and 2.08 metres at 3.06 g/t gold in S088), and high-grade quartz tension veins (1 metre at 53.2 g/t gold and 1 metre at 51.7 g/t gold in SD-15-11) between the Surluga Deposit and the HSZ. Should continuity be established along those structures, they may eventually add to the total mineral resource.

The fieldwork defined many geological similarities between the HSZ and the Jubilee Shear Zone (Surluga Deposit). These two shear zones are now interpreted as forming a single and interconnected NNE-trending shear system with subsidiary gold-bearing shear zones and high-grade quartz tension veins in-between. These geological observations indicate the potential for the HSZ to host high-grade gold mineralization zones similar to those encountered in the Surluga Deposit. Red Pine will focus part of the future exploration efforts to prove this working hypothesis as this could considerably expand the existing gold resource on the Wawa Gold Project.

Table 1 - Medium- to high-grade gold samples collected in the Hornblende Shear Zone

Sample Prospect/Deposit Sample type Gold
(g/t)
11663 Hornblende Quartz vein 24.4
1473084 Hornblende Tourmaline-rich highly strained zone 3.86
1473085 Hornblende Tourmaline-rich highly strained zone 1.52
1473087 Hornblende Highly strained zone 3.15

"It is hard not to over emphasise the potential change to the Wawa Gold Project the Hornblende Shear Zone represents," said Quentin Yarie, Red Pine's President and CEO. "Identifying a parallel related gold-bearing structure has the potential to significantly improve the size and economics of the project."

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.

Grab and channel 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. All grab and channel samples are photographed and geo-referanced.

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.

Wawa Gold Project Highlights

  • NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 g/t gold 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 depth1;

  • Additional gold mineralization present, but not well defined, in the hanging wall and footwall secondary structures indicate that the contained gold of the pit-constrained resource can be increased and would significantly improve the economics of the resource1;

  • Strike length continuity for some gold-bearing structures exceed 2.5 kilometres with potential continuous gold mineralization;

  • Advantageous land position in an under-explored gold camp that hosted eight past producing mines with average grades of 8.9 g/t gold;

  • Proximity to established regional infrastructure (roads, rail, airport, high voltage power lines, existing mill) and skilled workforce;

Qualified Person

Quentin Yarie, PGeo. 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 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 30% interest in the Wawa Gold Project and has entered into a Joint Venture Agreement (JVA) 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. Under the terms of the JVA, Red Pine is the Operating Manager and will continue to explore and advance the current gold resource on the property. Red Pine is currently expediting negotiations to consolidate ownership of the Wawa Gold Project.

1The Mineral Resource is disclosed in the NI 43-101 technical report titled "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.Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent.

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.

To view the map associated with this release, please see the following link: http://media3.marketwire.com/docs/1025435map.pdf

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Red Pine Exploration

EXPLORATION STAGE
CODE : RPX.V
ISIN : CA75686Y1088
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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$ 89.0 millions as of today (US$ 71.2 millions, € 62.3 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of Red Pine Exploration
10/4/2013Appoints New Directors
9/13/2013Announces Resignation of Chairman and CEO
Project news of Red Pine Exploration
3/29/2012Receives Till Sample Results from Ava-Claire Property - Iden...
2/10/2012Provides Exploration Outline and Announces Results of Annual...
5/19/2011(Saracourt)Commences Exploration Program on SaraCourt Property West of ...
4/21/2011(Saracourt)to Commence Exploration Program on Saracourt Property
Corporate news of Red Pine Exploration
6/24/2016Red Pine Exploration Expands Sampling of Gold Zones in the H...
6/5/2016Red Pine Exploration Closes Private Placement Financing
5/26/2016Red Pine Exploration Announces Brokered Private Placement to...
4/5/2016Red Pine Appoints Red Cloud Klondike Strike as Strategic Adv...
2/1/2016Red Pine Announces Results of Annual Meeting
1/22/2016Impact of New Gold Discoveries on Wawa Gold Project And Upda...
1/21/2016Red Pine Exploration Inc.: Impact of New Gold Discoveries on...
1/19/2016Red Pine Exploration to Exhibit at the 2016 Vancouver Resour...
12/18/2015IIROC Trading Resumption - RPX
12/18/2015RED PINE EXPLORATION DISCOVERS NEW GOLD ZONES, DRILLS 14.28 ...
12/17/2015IIROC Trading Halt - RPX
10/1/2015Red Pine Results Support the Extension of High-Grade Gold Zo...
9/17/2015Red Pine Identifies High-Grade Gold-Bearing Quartz Veins in ...
8/28/2015Red Pine Exploration Earns 30% Interest in Wawa Gold Project
8/27/2015Red Pine Exploration Earns 30% Interest in Wawa Gold Project
8/25/2015Red Pine Exploration Closes Third Tranche of Financing
8/21/2015Red Pine Exploration Closes Third Tranche of Financing
8/14/2015Red Pine Exploration Closes Second Tranche of Financing
8/13/2015Red Pine Exploration Closes Second Tranche of Financing
7/30/2015Red Pine Exploration Announces Appointment of New Chief Exec...
7/29/2015Red Pine Exploration Announces Appointment of New Chief Exec...
4/10/2015Intersects High Grade Footwall Mineralization, Wawa Gold Pro...
2/24/2015Red Pine Exploration to Exhibit at the 2015 PDAC Internation...
2/13/2015Red Pine Drills 48.66 Metres of 4.41 g/t Gold including 16.6...
2/12/2015Red Pine Drills 48.66 Metres of 4.41 g/t Gold Including 16.6...
2/10/2015Red Pine Reports on Wawa Gold Project Assay Results and Comm...
1/30/2015Red Pine Announces Results of Annual Meeting
1/27/2015Red Pine Drills 30.78 Metres of 3.06 g/t Gold, Including 7.7...
1/9/2015Red Pine Exploration to Exhibit at the 2015 Vancouver Resour...
1/6/2015Red Pine Exploration Provides Update on Wawa Gold Project
12/30/2014Red Pine Exploration Announces Proposed Share Consolidation
12/18/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/17/2014Red Pine Exploration Confirms Gold Mineralization Extends Be...
12/16/2014Red Pine Exploration Announces Staking of Additional Claims ...
12/15/2014Red Pine Exploration Outlines Exploration Program for Wawa G...
12/11/2014Red Pine Exploration Executes Assumption Agreement for the S...
12/11/2014IIROC Trading Resumption - RPX
12/11/2014IIROC Trading Halt - RPX
10/23/2014Red Pine Exploration Announces Acquisition of Québec Silica ...
10/23/2014Red Pine Exploration Announces Acquisition of Quebec Silica ...
7/31/2014Red Pine Exploration Completes Third Round of Drilling at Ca...
5/8/2014Red Pine Exploration to Commence Mechanized Trenching on its...
5/1/2014IIROC Trading Resumption - RPX
2/26/2014to Exhibit at the 2014 Prospectors and Developers Associatio...
7/12/2013Completes Initial Review of Cayenne-Chili Property
11/13/2012Provides Company Update
11/7/2012Announces Sale of Ava-Claire Property
3/1/2012to Exhibit at the 2012 PDAC International Trade Show & Inves...
9/1/2011Drill Results and Exploration Update
4/29/2011Adds Two Highly Prospective Properties & Provides Exploratio...
3/4/2011s Previous News Release
2/22/2011Announces Completion of Private Placement
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (RPX.V)
0.340-6.85%
TSX-V
CA$ 0.340
05/20 16:44 -0.030
-6.85%
Prev close Open
0.365 0.340
Low High
0.335 0.340
Year l/h YTD var.
0.315 -  0.580 -41.38%
52 week l/h 52 week var.
0.315 -  0.810 -54.67%
Volume 1 month var.
55,000 -27.66%
24hGold TrendPower© : -37
Produces
Develops
Explores for Gold - Nickel
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 8/5/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-53.42%
20211725.00%0.850.04
202014.29%0.060.02
2019-12.50%0.080.03
2018-60.00%0.110.04
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.10-1.28%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.08+4.76%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.50-3.27%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70-4.39%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.40-7.36%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.65-1.30%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+1.72%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.28+1.82%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.76-2.22%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 69.92+0.59%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :