Red Pine Exploration Inc.
TSX VENTURE : RPX

Red Pine Exploration Inc.

January 19, 2017 06:00 ET

Red Pine Exploration Continues to Discover Gold in the Unsampled Historic Core of the Surluga Deposit - New Results Include 1.51 G/T Gold Over 59.3 Metres (True Width)

TORONTO, ONTARIO--(Marketwired - Jan. 19, 2017) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") has received results for holes sampled as part of its on-going sampling program of historic core at its Wawa Gold Project. The Company is also currently drilling as part of its on-going exploration program in the northern extension of the Surluga Deposit.

New results from the sampling program include:

  • 1.51 g/t gold over 59.3 metres in the Surluga Deposit in S247 (calculated true thickness) and 1.75 g/t gold over 47.46 metres (calculated true thickness); and
  • an increase in the gold metal factor (sum of individual intercepts' gold grade times length) for 15 of the 27 sampled holes, and an average increase of the intersection length in 9 of the 25 holes (Table 1).

New results from the on-going drilling program include:

  • Evidence of folding of the Jubilee Shear Zone in SD-17-46 (59 metres calculated true thickness) and in SD-17-47 (108 metres calculated true thickness).

Quentin Yarie, President and Chief Executive Officer of Red Pine states, "55% of the sampled historic holes have returned additional gold, including material containing up to 4.96 g/t gold over 1.52 metre. This provides additional evidence that higher grade material was left un-sampled in the historic holes by the previous operators. Also, the intersection of two zones of thickening of the Jubilee Shear Zone, in the northern extension of the Surluga Deposit, tells us that the gold-bearing structure may retain its thickness to the north and that it could host broad zones of gold mineralization".

Sampling of historic core

Red Pine's current sampling of 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) continues to add gold in many of the sampled historic boreholes in the Jubilee Shear Zone, and in structures of the footwall and hanging wall of the Surluga Deposit inferred resource, which already contains 1.088 million ounces1. The spatial distribution of the historic boreholes with notable gold metal factor increases will positively change the current deposit model (Fig 1).

On-going Drilling Program

The on-going diamond drill program is focussed on expanding the Surluga Deposit to the north (Fig. 1). Hole SD-17-46 and SD-17-47 targeted the shallow northern extension of the Jubilee Shear Zone north of the conceptual pit shell used to constrain the resource. Both holes intersected thickened zones of the Jubilee Shear Zone related to folding of the shear that supports the potential for wide zones of gold mineralization in the under-explored northern extension of the structure.

Table 1 - Before and after2 intersections above 0.2 g/t gold

Hole Before/
After sampling
Structure From (m) To (m) Intersection length (m) Calculated True Width (m) Grade
(g/t gold)
Metal Factor
(g/t x m)*
% change length % change metal factor
U0354L5 Before Jubilee 29.26 32 2.74 2.63 3.86 10.15 255.84 10.94
After 22.25 32 9.75 9.36 1.20 11.26
U0715L5 Before Jubilee 31.7 53.64 21.94 16.24 2.86 46.5 0 12.45
After 31.7 53.64 21.94 16.24 3.22 52.29
U0868L6 Before Jubilee 0 60.96 60.96 20.12 2.87 57.72 0 1.2
After 0 60.96 60.96 20.12 2.90 58.41
U0869L6 Before Jubilee 0 16.76 16.76 10.06 2.96 29.81 0 0.23
After 0 16.76 16.76 10.06 2.97 29.88
Before Jubilee 41.91 44.5 2.59 1.55 0.24 0.372 0 22.58
After 41.91 44.5 2.59 1.55 0.29 0.456
U0906L6 Before Jubilee 5.49 25.91 20.42 12.86 2.31 29.73 17.92 1.21
After 1.83 25.91 24.08 15.17 1.98 30.09
U0922L6 Before Jubilee 0.76 11.58 10.82 6.92 0.73 5.07 55.82 10.65
After 0 16.86 16.86 10.79 0.52 5.61
U0927L6 Before Jubilee 0 57.12 57.12 18.85 0.98 18.4 0 1.09
After 0 57.12 57.12 18.85 0.99 18.6
U0966L6 Before Jubilee 0 26.37 26.37 17.14 0.66 11.32 8.65 1.41
After 0 28.65 28.65 18.62 0.62 11.48
U1403L7 Before Jubilee 5.49 31.7 26.21 13.11 0.66 8.62 0 36.19
After 5.49 31.7 26.21 13.11 0.90 11.74
U1434L7 Before Jubilee 0.61 46.33 45.72 3.98 1.96 7.79 2.93 4.36
After 0 47.06 47.06 4.09 1.99 8.13
U1471L7 Before Jubilee 19.2 28.96 9.76 6.25 0.36 2.23 14.04 40.36
After 19.2 30.33 11.13 7.12 0.44 3.13
U1500L5 Before Jubilee 22.04 51.05 29.01 28.89 0.64 18.39 15.24 6.25
After 22.04 55.47 33.43 33.30 0.59 19.54
U1507L5 Before Jubilee 39.62 70.65 31.03 21.72 0.73 15.76 31.65 3.62
After 39.62 80.47 40.85 28.60 0.57 16.33
U1508L5 Before Jubilee 16.09 94.18 78.09 44.51 1.76 78.44 6.63 5.84
After 16.09 99.36 83.27 47.46 1.75 83.02
U1650L5 Before Jubilee 5.33 97.99 92.66 59.30 1.47 86.95 0 3.12
After 5.33 97.99 92.66 59.30 1.51 89.66

*Calculated using the calculated true width of the intersection

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 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.

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.

For more information about the Company visit www.redpineexp.com

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.

2Before results are entirely historical and are based on assay results obtained during drill programs conducted between 1961 and 1989 by previous operators of the Wawa Gold Project. After results represents the combination of the historical results with the new assay results obtained by Red Pine Exploration as part of its sampling program. Red Pine's sampling of the core involves re-measuring the historical boreholes and sampling the un-sampled core pieces left in the historical intersections. A full QA/QC program is implemented as part of Red Pine sampling program. All the sampled historical boreholes with the new sample locations are also systematically photographed as part of the sampling protocols.

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, please visit the following link: http://media3.marketwire.com/docs/1083140a.pdf

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