Red Pine Exploration Inc.
TSX VENTURE : RPX

Red Pine Exploration Inc.

November 12, 2013 08:00 ET

Red Pine Exploration Samples Massive Sulphides at Cayenne-Chili

TORONTO, ONTARIO--(Marketwired - Nov. 12, 2013) - Red Pine Exploration Inc. (the "Company") (TSX VENTURE:RPX) announces the results from its recently completed backpack drill program which supplemented the IP survey and bedrock sampling program over its Cayenne-Chili Property.

New Volcanogenic-Massive- Sulphide "(VMS") Occurrences Discovered

The Cayenne-Chili system is comprised of a series of north-facing mineralized VMS centres along a well-defined stratigraphic horizon having a strike length of approximately 11 kilometres. The district is comprised of a footwall unit of dacite and rhyolite (Strata Fm), capped by a chert exhalite-iron formation-shale unit (Woman River Fm), which in turn is overlain by mafic volcanic strata (October Lake Fm). The strata have undergone two major folding events; the first (FI) formed an isoclinal, north facing set of folds, resulting in repetition of the mineralized strata, whereas the second (FII) forms a broad east-verging antiform, clearly marked by the distribution of the Woman River strata.

Earlier exploration focused on only one of these centres, - the Jefferson Deposit(1), - and the Company has identified other VMS occurrences (e.g. the Vencan Zinc Showing) along the exhalite horizon. Mechanized trenching conducted in July, 2013 exposed approximately 20 meters of massive sulphides consisting of sphalerite (zinc), galena (lead), and veins of chalcopyrite (copper) immediately west of the historic Vencan Zinc showing.

Back Pack Drill Results

The purpose of the backpack drill program was to test areas with:

  • no outcrop exposure and favourable geophysical targets, and
  • to obtain structural information in areas of known mineralization.

The above mentioned trench of exposed massive sulphides located west of the historic Vencan zinc showing was drill tested with Hole BC13-04 emplaced to the south and Hole BC13-05 emplaced to the north. Observations of the core indicate that the mineralized horizons are dipping steeply to the north rather than to the south as previously interpreted. Appreciable copper mineralization was encountered with holes drilled perpendicular to the bedding that had not been intersected during previous drill programs. Due to depth limitations of the back-pack drill unit, drill core was terminated in mineralization.

Composite results over the length of three back pack drill holes are as shown:

Back Pack Drill ID Location Length
(m)
Silver
g/t
Copper
%
Lead
%
Zinc
%
BC13-04 West of Vencan Zinc showing 7.07 8.01 0.91 3.63 8.20
BC13-05 West of Vencan Zinc showing 6.37 29.35 1.42 3.38 12.79
BC13-01 South-West of Jefferson Trench 4.01 12.1 1.11 4.41 8.25

Geochemical Interpretation by James Franklin, Ph.D, FRSC, P.Geo.

In addition to new data from the short drill holes, all of the historic data, as well as the results from a fall surface sampling program (482 samples analyzed by aqua regia-ICP, including 37 samples analyzed by fusion-XRF) have been compiled. Recently, an additional 247 surface samples were collected from the western and northern extents of the property, and analyzed using a well-calibrated field-portable XRF unit. A subset of these samples is currently being analyzed by conventional methods. Anomalous base metal contents (Zn>500ppm, up to 24.7%, Pb> 100ppm, up to 15%; Cu > 500ppm, up to 24.7%), each accompanied by distinct Na depleted footwall zones, and most with Mn-enriched footwall and exhalite, are present in at least twelve discrete areas (ten with base metals), distributed at regular intervals over a strike length of about 11.3 kilometres.

All of the geochemically anomalous zones are associated with the contact between the Woman River exhalite assemble and the underlying felsic volcanic strata of the Strata Formation. The distribution of base and precious metals, along with key lithotype ratios and alteration indicators were examined. The copper-rich zones are distinct stringer-type material and extend vertically below the zinc-lead mineralization. The anomalous zinc and lead zones appear stratiform. In each of 10 mineralized areas, they extend from between 50 to 200 metres along strike. Preliminary thickness estimates (backpack drill-holes and historic drilling, plus trenches) are 5-2 0metres minimum. The mineralized horizon is repeated by isoclinal folding. The more northern of the two horizons has not been tested by drilling, and has abundant anomalous zinc samples. These are particularly prominent above the Vencan occurrence.

Alteration is comprised primarily of Na depletion, Mn - carbonate and K enrichment zones, and some silicification. The base metal content is Zn-Pb rich; the lead contents are higher than typical "Noranda-style" deposits, and along with the alteration assemblage, are typical of several other VMS-hosting strata of similar age in Superior Province, including the Sturgeon Lake camp.

Geophysical Interpretation

The Company has conducted a comprehensive analysis which included the compilation, review and interpretation for a suite of geophysical data collected over the property. These data include:

  • Airborne Electromagnetics (EM)
  • Ground Gravity (Density)
  • Ground Magnetics
  • Induced Polarization (IP)
  • MaxMin - Ground EM
  • Airborne Magnetics

The results of this analysis conclude that there is a distinct coincidental density, IP, and EM anomaly associated with the "Jefferson Deposit" - however it is limited in size and the historical drilling appears to have been down dip. It is important to note that additional geophysical anomalies with the same characteristics exist in the area of the historical drilling both to the west and the east (fold nose zone) and these targets are of much greater size.

At the Vencan Zinc showing, a modest geophysical anomaly consisting of IP, density, EM and magnetic anomalies is associated with this recently prospected near-surface occurrence. There is an exceptionally large and deeper geophysical anomaly immediately to the north and down dip from the zone with a strike length in the 100's of metres.

Drill Program Planned in 2013

Quentin Yarie, president and COO commented: "These exploration results confirm that mineralization is associated with North dipping structures within the banded iron system. To-date, a total of over 8 new targets of varying dimensions have been identified, most of which have not been tested with a drill hole."

"The results of our comprehensive analysis certainly justify conducting a drill program to quantify the mineralization associated with these new targets as well as the historical mineralization due to the fundamental change in the interpretation of the dip of the mineralized horizons."

The Company is currently considering several financing options to fund the planned exploration activities and consequently does not anticipate the need for a share roll back as presented and approved at the last annual general meeting of the Company's shareholders.

About the Cayenne-Chili Property

  • The Cayenne - Chili Property hosts a remobilized VMS System Associated with an adjacent banded iron formation.
  • Multiple lenses of mineralization observed in the VenCan zinc showing indicate a stacked sequence of mineralized horizons
  • Remobilized Mineralization dips steeply to the North- not to the South as previously interpreted
  • Identified new showings with full utilization of Geophysical and Geochemical Data
  • Known High Grade Mineralization - assayed values of up to 24.7% Zn, 15.6% Pb and 1.1% Cu from grab samples along the corridor (2013)
  • Close to existing infrastructure (rail line, power, all weather roads)

On-site Quality Assurance/Quality Control Measures

All back pack core samples were labeled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags for shipment to ACTLABS for chemical analyses. The remaining coarse reject portions of the samples remain in storage at an ACTLABS preparation laboratory storage facility as required in the event that further work is needed.

Qualified Person

Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company's exploration programs.

About Red Pine Exploration Inc.

Red Pine Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Cayenne-Chili Property consists of 57 contiguous mining claims totalling 8704 hectares. The claims sit in a region interpreted as the western extensions of both the Larder-Cadillac and the Porcupine-Destor deformation zones. to the north.

The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".

More detailed information about the Company is available on the website: www.redpineexp.com.

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.

(1) The mineral resource identified here is a non-compliant NI 43-101 Mineral Resource since it is historical in nature and should not be relied upon. There is no direct evidence that the historic numbers or any portion thereof will ever be achieved at any time with further exploration work. These are historical resource estimates that do not comply with the current Canadian Institute of Mining, Metallurgy and Petroleum Resources (CIM) Definition Standards on Mineral Resources and Mineral Reserves as required by National Instrument 43-101 (NI 43-101) "Standards of Disclosure for Mineral Projects."

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