Red Pine Exploration to Commence 6,000 Metre Drill Program
TORONTO, ONTARIO--(Marketwired - Nov. 16, 2016) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") will immediately commence its Fall 2016 Drill Program on the Wawa Gold Property. The diamond drill program is targeting the northern extension of the Surluda Deposit (inferred resource of 1,088,000 ounces @ 1.71 grams per tonne ("g/t") gold1) to define additional gold mineralization and improve the current inferred resource (Figure 1).
Quentin Yarie, Red Pine's President and CEO states, "Red Pine's work to date has demonstrated the presence of additional gold zones in the footwall and hanging wall of the Surluga Deposit. We've also discovered that the mineralized structure hosting the Surluga Deposit extends to the north, where very few historic holes were drilled. The Company anticipates that this drill program will extend the inferred resource to the north while also testing other gold structures in the Wawa Gold Corridor."
Red Pine's Summer 2016 trenching program confirmed the extension of the Jubilee Shear Zone to the north of the core zone of the inferred resource. This drill program will test the numerous gaps left by historic drilling in this part of the deposit. The Hornblende Shear Zone, the Surluga Road Shear Zone and the William Gold Zone, all located below the Surluga Deposit, will also be tested by some of the planned holes in the program.
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 Timmins, 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 Timmins, Ontario as required in the event that 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.
Qualified Person
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 30% interest in the Wawa Gold Project through an Assignment and Assumption Agreement with Citabar LLP and Augustine Ventures Inc. Red Pine is the Operating Manager of the JVA and is focused on expanding the existing gold resource on the property. The JVA is owned 40% by Citabar, 30% by Red Pine and 30% by Augustine.
Red Pine and Augustine have entered into a definitive agreement (November 14, 2016) to consolidate their 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.
To view Figure 1. Fall 2016 Drill Program - location of planned drill holes with respect to existing inferred resource1, please visit the following link: http://media3.marketwire.com/docs/rpx_2016drill.jpg
Contact
Quentin Yarie
President & CEO
(416) 364-7024
qyarie@redpineexp.com
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com