Red Pine Exploration

Published : October 01st, 2015

Red Pine Results Support the Extension of High-Grade Gold Zones Well Beyond the Surluga Deposit; Channel Samples Returns 9.74 Grams Per Tonne Gold Over 2.88 Metres on Root Vein

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Keywords :   Canada | Diamond | Gold | Recovery |

Red Pine Results Support the Extension of High-Grade Gold Zones Well Beyond the Surluga Deposit; Channel Samples Returns 9.74 Grams Per Tonne Gold Over 2.88 Metres on Root Vein

TORONTO, ONTARIO--(Marketwired - Oct 1, 2015) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") has received the last round of assay results from the Company's Summer 2015 surface sampling program. These samples are covering gold zones located away from the immediate vicinity of the inferred resources of the Surluga Deposit (see Figure 1). To view Figure 1. Overview of Summer 2015 Surface Sampling Program, please visit the following link: http://media3.marketwire.com/docs/redpine_fig.jpg.

Root and Cooper-Ganley Vein Systems

Channel samples taken in well exposed parts of the Root vein, located in the hanging wall of the Jubilee Shear Zone and 1 kilometre north of the Surluga Deposit, returned grades between 1.98 grams per tonne ("g/t") gold over 1.5 metres and 9.74 g/t gold over 2.88 metres with several occurrences of coarse flakes of visible gold.

The historic Cooper mine is located 1.4 kilometre NE of the Surluga Deposit. Grab samples taken 300 metres ESE along strike of the structure in a shear-hosted quartz lens returned grades between 0.005 and 25.4 g/t gold. This supports a strike length extension of the structure hosting the historic Cooper Mine and indicates the fertility of the eastern contact between the intrusion that hosts the Surluga Deposit and volcanic rocks.

Parkhill Mine

Channel samples taken in a vein located 125 metres south in the hanging wall of the Parkhill Mine, located 1.1 kilometre S-SE of the Surluga Deposit, returned 9.21 g/t gold over 1 metre. Grab samples collected along strike of that vein returned gold grades between 12.9 and 54.1 g/t gold. This provides a good indication that a potential stack of high-grade quartz exists in the Parkhill Mine. Further surface exploration work in the area will aim to validate this hypothesis and extend the strike length of the existing high-grade veins at surface.

New Gold-Bearing Shear Zone Identified in the Northwest Extension of the Property

Recognizing the spatial association between dioritic intrusion and gold-bearing shear zone, the Company stacked a new claim block covering mapped diorite slivers. Prospecting uncovered a new gold-bearing shear zone located 2 kilometres west of the Surluga Deposit with representative grab samples of sheared material and quartz veins returning gold grades between 0.006 and 1.78 g/t gold. This discovery is promising as almost every gold-bearing shear zones identified on the Wawa Gold property are known to host zones of high-grade gold mineralization. This discovery also extends gold fertility in a new area previously considered barren of any gold mineralization and shows that even after a century of exploration uncovered gold plays still exist on the property.

"Our field programs since December 2014 are now starting to highlight the potential of the Wawa Gold property" said Quentin Yarie, President and CEO of Red Pine. "With numerous high-grade gold zones exposed at surface and high-grade gold zones of the Surluga Deposit open at depth, there is a high potential to define new high-grade gold resources beyond the existing inferred resources that contains over 1 million ounces of gold1."

Geophysical Crew Now Mobilized to the Hornblende and Mickelson/Sunrise Deformation Zone

As they both have the potential to rapidly increase the existing resources, moving forward the Company will prioritize exploration along the Hornblende Shear and the Mickelson/Sunrise Deformation zones, respectively located in the immediate footwall and hanging wall of the defined resources of the Surluga Deposit.

To optimise the upcoming drill program in the Hornblende and the Mickelson/Sunrise Deformation Zone, geophysical crews have been mobilized to refine the 3D pictures of the sampled high-grade gold zone, reaching up to 28.04 g/t gold over 2.75 metres in the Mickelson/Sunrise Deformation Zone. A drill program is expected to follow shortly after the geophysical results are received and interpreted.

Readers are cautioned that the true width of the structures intersected in channel samples could not be determined from the information available although channel samples were collected perpendicular to strike. Also, 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.

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

Grab samples are selected based on geological features such as veins, presence of mineralization, higher alteration and/or higher deformation with each sample bagged in situ in the field. Channel samples are collected with a portable Diamond rock saw and bagged in situ on the field. Metal tags are placed along the channel to record the location of each sample. Each channel is 4 to 6 centimetres wide over the full length of the channel.

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 geo-referenced.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of field samples. 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, 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.

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

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$ 136.1 millions as of today (US$ 108.0 millions, € 95.1 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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