Red Pine to Commence Exploration Program on SaraCourt Property
Published : April 20, 2011
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Keywords :   Canada | Diamond | Gold | Johnson | Market | Technical Analysis |

TORONTO, ONTARIO--(Marketwire - April 20, 2011) - Red Pine Exploration Inc. ("Red Pine" or the "Company") (News - Market indicators) is pleased to announce the first phase of its 2011 drill program will commence in early May on the SaraCourt Property, located within the Swayze portion of the Abitibi Greenstone belt west of Timmins.

This first phase will consist of approximately 3,000 metres of Diamond drilling, targeting two gold zones on the SaraCourt Property: the Mortimer and Michelle gold zones. In addition, Red Pine will conduct mechanical trenching to expose bedrock on a newly identified porphyry target, called the Maya Zone. This zone is situated south of the Michelle Zone where grab samples have returned gold values of 23.32 g/t, 15.09 g/t, and 21.95 g/t*. (*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 January 1985 - Coppell, Newton, and Dale Townships by David S. Hunt).

Previous Exploration Highlights

The highlights of the 2010 exploration program include drill results on the Michelle Zone of 4.05 g/t over 35 metres (RPX10-02), 2.65 g/t over 40 m (RPX10-08), 2.31 g/t over 6 m, 3.26 g/t over 4 m, 2.84 g/t over 4.4 metres, and 1.12 g/t over 12 metres from mineralized porphyry dykes. Details are in the press release dated October 21, 2010.

On the Mortimer Zone, channel sampling returned 23.74 g/t gold over 12 metres, including 54.98 g/t gold over 5 metres as detailed in the March 16, 2010 press release.

The SaraCourt Property is situated within the revitalized Swayze Greenstone Belt as demonstrated by the recent exploration success in the area west of Timmins by Trelawney Mining to the south east and by Probe Mines to the west of the Red Pine project.

2011 Program Undergoes Full Technical Analysis

The Company's technical advisors have outlined a significant exploration program for 2011 that is the result of a focused analysis from a combination of geologic, geochemical and geophysical data within highly prospective areas of the property. The technical team consists of Hadyn Butler, P.Geo., Dr. James Franklin, Ph.D., P.Geo., Dr. Jean-Philippe Desrochers Ph.D., P.Geo., and geophysicist Martin St. Pierre. Assisting these technical advisors will be the Company's Senior Geologist, Myles Johnson.

Drilling will focus on the following zones:

Mortimer Zone Targeted for Immediate Drilling

  • Six gold targets at Mortimer selected – planned to drill 6-8 holes totalling 2,000 metres
  • Updated structural interpretation completed by technical team
  • Magnetic and IP anomalies coincide with the nearby and past-producing Kenty Mine – grab samples along this trend have returned results from >6 g/t to 90 g/t gold suggesting that the geophysical trends represent an extension of the gold mineralization present at the Kenty Mine
  • Drill targets will focus on these IP anomalies that occur at favourable locations based on the structural interpretation
  • The Kenty mine is characterized by gold bearing veins hosted in an easterly-trending gabbro intrusive; Geophysical interpretation of a fold (structural trap) is interpreted to exist east of the Kenty Mine
  • Crites Drilling of Connaught, ON has been contracted to complete the drill program

Michelle Zone Scheduled for Drilling following Mortimer work Program

  • Three gold targets at Michelle selected for drilling immediately following the completion of drilling on the Mortimer zone - planned to drill 3-5 holes totalling 1,000 metres
  • Hole to hole IP/resistivity survey, completed by Abitibi Geophysics, has identified two new targets in the northern region of the Michelle zone
  • Primary new target from the down hole IP survey is a chargeability target located along the down dip extension of the gold bearing zone intersected by RPX10-02 (7.4 g/t gold over 14.42 m including 15.72 g/t gold over 3 m)
  • The chargeability anomaly likely represents a higher concentration of pyrite which may host a significant zone of gold mineralization

Maya Zone - A newly identified large and unexplored Porphyry target for Prospecting and Trenching

  • The Maya Zone has been identified by a team of geologists from the Geological Survey of Canada and the Ontario Geological Survey as a large quartz feldspar porphyry intrusive 
  • The airborne geophysical data supports this interpretation with a magnetic low area measuring over 1 km square 
  • The larger gold deposits within Timmins Gold Camp are associated and proximal to similar felsic porphyries
  • A large boulder field lies within this area where felsic volcanic rock units have been intruded by quartz feldspar porphyry 
  • Anomalous gold values from grab samples of 23.32 g/t, 15.09 g/t and 21.95 g/t were reported by Placer Dome hosted within felsic volcanic boulders* (*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 January 1985 - Coppell, Newton, and Dale Townships by David S. Hunt). 
  • An interpretation of a 1980's IP survey being completed 
  • Prospecting of the zone to commence after breakup 
  • Trenching program planned for late spring

About The SaraCourt Property

The SaraCourt Property is a regional land package of contiguous, high-potential gold properties totalling 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.

Quentin Yarie, P.Geo, Senior Vice President of Exploration is the qualified person for the technical data contained within this report.

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.

Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Red Pine Exploration Inc.
Brent Nykoliation
Vice President of Business Development
(416) 364-7024
(416) 364-2753 (FAX)
bnykoliation@redpineexp.com
or
Red Pine Exploration Inc.
Kirk McKinnon
President & CEO
(416) 364-7024
(416) 364-2753 (FAX)
www.redpineexp.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
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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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