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Canadian base Metals and Gold Exploration Company
Message: Red Pine Intersects Unexpected Gold Zones at the Wawa Gold Project - Highlights Include 2 g/t over 11.28m including 6.13 g/t over 3.15m
TORONTO, Nov. 21, 2019 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") announces drill results from its Fall 2019 Drilling Program at the Wawa Gold Project, located near Wawa, Ontario. The Company discovered 3 new gold zones, located away from the Surluga Deposit (Figure 1). Highlights include a discovery east of the Surluga Deposit (footwall) of 2.00 g/t gold over 11.28 metres, including 6.13 g/t over 3.15 metres, and a discovery west of the Surluga Deposit (hanging wall) of 4.72 g/t over 2.77 metres and 5.13 g/t over 1.80 metres. Also, drilling below the existing Surluga Deposit intersected, as predicted, mineralization at depth.
Quentin Yarie, Chief Executive Officer of Red Pine stated, "Our 2019 exploration results continue to successfully extend the Wawa Gold Project resource with gold intercepts in the Surluga Deposit, the Hornblende Shear Zone, and the Minto B Shear Zone. The new gold zones in the hanging wall and footwall of the Surluga Deposit indicate that new discoveries are still possible, and continue to be uncovered, near and beyond the footprint of the current resource. Also, results to date show that the resource can not only be expanded at depth, but also laterally. We now have evidence of the continuity of gold mineralization over a strike length of 1 kilometre in the Hornblende Shear Zone and 800 metres in the Minto B Shear Zone with both zones remaining open along strike and at depth.”
Figure 1 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/7e9db35e-2ef3-4527-8bee-8ef0e36a9b73
A video showing a 3D rendition of new gold zones intercepts is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/04409f1e-5f05-4a71-8ed7-c3c5b884f863
Highlights from the discovered gold zones in the Wawa Gold Corridor:
New gold zones discovered in the Wawa Gold Corridor:
|•||New structure containing 2 g/t gold over 11.28 metres, including 6.13 g/t gold over 3.15 metres discovered in hanging wall of the Surluga Deposit;|
|•||New structure containing 4.72 g/t gold over 2.77 metres discovered between the Surluga Deposit and the Hornblende Shear Zone (footwall of the Surluga Deposit);|
|•||New higher-grade zone containing 5.13 g/t gold over 1.80 metres discovered in the Hornblende Shear Zone;|
|•||Extension of gold mineralization in the Minto B Shear Zone with the intersection of 3.06 g/t gold over 2.02 metres and 1.88 g/t gold over 3.52 metres.|
|•||Extension of higher-grade mineralization beneath the Surluga deposit:|
|•||5.21 g/t gold over 1.00 metre intersected below the Surluga Deposit with additional results pending.|
Table 1. Highlights of the 2019 drilling results in some of the gold-bearing structures of the Wawa Gold Project
|From (m)||To (m)||Length (m)*||Gold (g/t)||Gold structure|
*Results in the Minto B Shear Zone, Hornblende Shear Zone and newly discovered structures are presented as core length. Because of the complex superimposition of different tectonic fabric in the Minto B structure, additional drilling is required to define the geometry of the mineralized zones contained in the Minto B Shear Zone.
Table 2. Collar locations
2019 drilling program on the Wawa Gold Project
Red Pine’s 2019 drilling program had three main objectives: 1) test the continuity of mineralization in the Hornblende Shear Zone located west of the Surluga Deposit, 2) test the continuation of the Surluga Deposit, at depth, beyond the current footprint and, 3) test the continuity of high-grade mineralization discovered at surface in the Cooper Shear Zone.
Drilling reported here in the Hornblende Shear Zone, west of the Surluga Deposit, successfully extended the strike of a zone of gold mineralization that was discovered in 2018 (hole SD-18-178 - 0.4 g/t gold over 73.8 m, including 13 g/t gold over 1.08 m). Hole SD-19-277 indicates that the higher-grade gold mineralization intersected in SD-18-178 extends along strike to the North in the Hornblende Shear Zone. In addition, holes SD-19-276 and SD-19-277 continue to show that multiple gold-bearing structures are located between the Hornblende Shear and the Surluga Deposit. SD-19-277 indicates these structures can host significant gold mineralization.
Drilling below the Surluga Deposit successfully showed that the mineralization of the deposit extends at depth. The results from SD-19-282 indicate that higher-grade mineralization occurs in the down-dip extension of the structure that hosts the Surluga deposit - the Jubilee Shear Zone. Hole SD-19-281 and SD-19-282 successfully extended the known strike length of gold mineralization in the Minto B Shear Zone to the north. The new mineralized structure discovered in hole SD-19-283 shows that new zones of mineralization are possible in the footwall of the Surluga Deposit, parallel to the Jubilee Shear Zone. This indicates that future diamond drilling, in the down-dip extension of the Jubilee Shear Zone, could lead to the discovery of new gold-bearing structures that could host significant zones of gold mineralization, thereby extending the Surluga Deposit. Results from the Jubilee Shear Zone intersections (beneath the Surluga Deposit) in holes SD-19-283 and SD-19-284 are still pending.
In the Cooper Shear Zone, diamond drilling proved that the structure extends at depth. Despite the observation of visible gold in some of the intercepts, drilling results did not replicate the high-grade mineralization encountered at surface with channel sampling. The Company believes that a very high nugget effect is responsible for the lack of grade continuity observed in the drill results of the Cooper Shear Zone. The high nugget effect would explain why some samples containing visible gold resulted in assay results that were below the gold detection threshold of the analytical method.
Wawa Gold Project Background
In July 2019, Red Pine filed a new NI 43-101 Technical Report for the Wawa Gold Project1 that outlines two (2) new resource estimates for the property:
- The Surluga Deposit has an indicated resource of 1.2 million tonnes grading 5.31 g/t for 205,000 ounces gold and an inferred resource of 2.36 million tonnes grading 5.22 g/t for 396,000 ounces gold;
- Over 2000 oz of gold per vertical metre in the Surluga Deposit.
- The Minto Mine South Deposit has an indicated resource of 105,000 tonnes grading 7.5 g/t for 25,000 ounces gold and an inferred resource of 354,000 tonnes grading 6.6 g/t for 75,000 ounces gold.
- Over 95% of the contained ounces at both deposits are located between surface and 350 metres depth;
- Both deposits remain open at depth.
Six additional gold-bearing structures have been identified on the property that combined, form the Wawa Gold Corridor, a structure that extends for more than 6 kilometres on the property. These gold-bearing structures include the Cooper, the Hornblende, the Grace mine, the Minto B, the Parkhill #4-Minto Lower, and the southern extension of the Jubilee Shear zones.
Red Pine’s future drilling programs will be focused on converting these exploration targets into Mineral Resources and proving their continuity at depth.
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 LP. 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, CEO, (416) 364-7024, [email protected]
Or Mia Boiridy, President, (416) 364-7024, [email protected]
1National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019.
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.
Source: GlobeNewswire (November 21, 2019 - 6:00 AM EST)
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