Red Pine Exploration Inc.
TSX VENTURE : RPX

Red Pine Exploration Inc.

November 11, 2010 08:00 ET

Next Phase of Drilling Underway on Red Pine Exploration's SaraCourt Property in Swayze Greenstone Belt, Near Timmins

TORONTO, ONTARIO--(Marketwire - Nov. 11, 2010) - Red Pine Exploration Inc. ("Red Pine" or the "Company") (TSX VENTURE:RPX) announces that it has commenced its next phase of drilling on the SaraCourt Property, located in the Swayze Greenstone Belt, southwest of Timmins. 

Drilling will consist of 8 to 12 holes and is being focused on two of the multiple gold-bearing zones identified to date on the SaraCourt Property – the Michelle Zone and the Krista Zone. Drilling is expected to carry on through to mid December. The Krista Zone will be drilled first as the Company awaits a geophysical interpretation on the Michelle Zone. A map of the SaraCourt Property showing the location of the zones can be found on the Company's website at www.redpineexp.com.

The positive results from the previous drill program (as detailed in Red Pine's Oct 21, 2010 press release) show early evidence that the Michelle Zone is part of a large, multi-zoned, regional gold system, and identified the Krista Zone as one of the several new and emerging gold zones within the SaraCourt Property.

Both the Michelle and Krista Zones are located along the DZ3 Deformation Corridor, interpreted by RPX to be (as described in Red Pine's press release dated June 7, 2010) an extension of the Destor-Porcupine Deformation Corridor that bounds the majority of gold mines in the Timmins area. 

Krista Zone

Drilling activities began on the Krista Zone, which is located 2 kilometers north of the Michelle Zone. To-date, detailed geological mapping, outcrop hydro-washing, geophysics and excavation has been completed on this zone, which has enabled Red Pine to confirm a greater than 700 metre long strike-extensive, shear-vein system. The Krista Zone remains open along strike to both the east and the west.

The first hole for this phase of exploration was completed on November 5 with RPX-10-09 being drilled to a depth of 218m. The hole intersected the intended target which consisted of a siliceous, pyritic (2 - 5%) mix of cream to beige QFP (quartz-feldspar porphyry) along with sericitic to chloritic wisps and fragments of altered mafic volcanic and a second zone of similar structure was intersected further down the hole. Both zones have the appearance of a re-healed, siliceous, pyritic shear zone. These zones are similar in characteristics found in major gold-mining camps associated with the Destor-Porcupine Corridor.

The hole has been logged to a depth of 133m and sampled at 1.0m intervals to 95.0 metres. The remainder of the hole will be sampled this week. All cut core representing 88 samples have been delivered to ALS Chemex. Assay results have been submitted on a rush basis with results expected from the first 88 samples in two weeks. Additional step-out holes are being collared to the east at 25 metres and 100 metres respectively along the same 700 metre-plus strike-length structure. Additional hole locations on the Krista Zone will be selected pending assay results.

Brian Atkinson P.Geo., and regional resident geologist for the Government of Ontario in Timmins, was on-site during the commencement of drilling with Red Pine's Vice President of Exploration, Quentin Yarie, and commented,  "During my site visit to the SaraCourt Property in Newton Township, I observed varied geology, intense structural deformation, accompanying widespread hydrothermal alteration and sulphide mineralization of the rocks, the same ingredients that accompany gold mineralization in the mines of Timmins and Kirkland Lake."

A channel sampling program over the Krista Zone has also been initialized and is expected to be completed over the next three weeks. Channel samples will be sent for analysis on a regular basis to the ALS Chemex preparation facility in Timmins, Ontario.

Michelle Zone

Drill results to date on the Michelle Zone have confirmed numerous gold-bearing, extensive shear systems that are open along strike to the east and at depth. This current drill program will focus on additional drill holes further to the east and at greater depths. The exact location of these drill holes will be aided by an interpretation of the MMR results.

About The SaraCourt Property

The SaraCourt Property is a regional land package of contiguous, high-potential gold properties totaling 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 Corridor to the northeast, and join to the western extension of the Larder Lake Deformation Corridor that branches to the southwest.

The Destor-Porcupine Deformation Corridor 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, 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.

Contact Information

  • 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)
    or
    Red Pine Exploration Inc.
    Richard Schler
    Chief Operating Officer & CFO
    (416) 364-7024
    (416) 364-2753 (FAX)
    http://www.redpineexp.com