TORONTO, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V:RPX) ("Red Pine" or the "Company") announces results from six holes drilled in the Minto Mine South Zone (“MMSZ”) at the Company’s Wawa Gold Project. The drill holes were part of Red Pine’s 20,000 m drilling program that was completed last fall.
Drilling highlights for the Minto Mine area include:
- High-grade gold mineralization of the MMSZ continues to extend south towards the Parkhill mine and at depth (current strike length of 375 metres):
- SD-17-126 contains 11.47 g/t gold over 2 metres;
- SD-17-121 contains 5.58 g/t gold over 2 metres.
- Stockwork Mineralization around the MMSZ:
- SD-17-121 contain 1.3 g/t over 4.6 metres (Figures 1, 3).
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "The MMSZ continues to be predictable as we are expanding the discovery south towards the historic Parkhill Mine (average grade 14.81 g/t). Drilling also continues to discover additional zones of mineralization around the MMSZ in the Minto Stockwork. We will carry on drilling in the area in 2018 and we expect that our results will continue to validate our exploration model by expanding the high-grade zone of the MMSZ.”
MMSZ vs Minto Mine Stockwork
The Minto Mine Stockwork is a complex system of structurally controlled tensions veins forming a “halo” around the MMSZ. Host rocks in the shoulders of the tension veins are weakly to moderately altered with sericite, silica and disseminated pyrite and pyrrhotite. The true thickness of the quartz veins forming the stockwork typically ranges from 10 centimetres to 1 metre.
Table 1. Highlights of the 2017 drilling results in the MMSZ
|Hole||From (m)||To (m)||Length (m)*||Gold|
*Assay results reported over intersection length. In the Minto Mine South Zone, for SD-17-121 and SD-17-123 and SD-17-126, the intersection length is estimated to be >85% true width.
Table 2. Highlights of the 2017 drilling results in the Minto Mine Stockwork
|Hole||From (m)||To (m)||Length (m)*||Gold|
Additional drilling is required to estimate the true width of the Minto stockwork.
Minto Mine Discovery Area
Red Pine’s drilling in the Minto Mine area continues to increase the high-grade zone of the MMSZ that now extends over a strike length of 375 metres. Results suggest that the Minto Stockwork may have an extensive footprint.
In holes SD-17-121 and SD-17-123, the MMSZ is partially diluted by cross-cutting lamprophyre dikes that may have reduced the overall gold grade of the zone. SD-17-119 and SD-17-120 were drilled outside the trend of the high-grade zone of the MMSZ and have not intersected significant mineralization. SD-17-125 intersected the main quartz vein of the MMSZ and proved the continuity of the zone, but contained low gold grade. Additional drilling will help confirm the geometry of the Minto Stockwork and the multiple orientation of the veins that compose it.
Results for 20 boreholes in the Minto Mine South Zone are still pending. The zone remains open at depth and along strike (>1km) to the south. Five (5) additional drill holes are currently planned to further define its strike length and down-dip extension.
Wawa Gold Project Background
The Wawa Gold property package consists of over 5,500 hectares and hosts several former mines with a combined historic production of 120,000 oz gold1. To date, the largest gold deposit on the property is the Surluga Deposit, which hosts a NI 43-101 Inferred Resource of 1,088,000 oz gold at an average grade of 1.71 g/t (using a 0.5 g/t cut-off) contained within 19.82 million tonnes2.
Since December 2014, Red Pine's exploration work has involved the ongoing sampling of 42,000 m of historic core that was never sampled by previous operators of the project, and aggressive drilling campaigns. To date, the Company has completed over 31,000 m of drilling and made four discoveries along the extension of the Surluga Deposit: the Surluga North Zone; the Hornblende-William Zone; the Minto Mine South Zone and; the Grace-Darwin Zone. These are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.
Red Pine’s on-going drill program is designed to potentially expand the size of the existing inferred gold resource and connect the other zones of gold mineralization along the newly-discovered Wawa Gold Corridor. Two drills are currently operating non-stop- one is targeting the Surluga North discovery while the second drill is targeting the Minto Mine South Zone discovery.
The Company is well positioned to fund its share of the Wawa Gold exploration program.
As such, the sampling and drill programs are expected to continue in 2018.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Drill core samples were transported in security-sealed bags for analyses to 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 and then shipped. The remaining coarse reject portions of the samples remain in storage if 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.
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
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 60% interest in the Wawa Gold Project with Citabar LLP. holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com
Quentin Yarie, President & CEO, (416) 364-7024, firstname.lastname@example.org
Or Mia Boiridy, Investor Relations, (416) 364-7024, email@example.com
1Mineral 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.
2NI 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)).
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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.
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