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Red Pine Assays 3 New Discovery Gold Zones at the Wawa Gold Project

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Red Pine Exploration’s latest drill results include the discovery of 3 new gold zones east and west outside of its Surluga Deposit’s 43-101 resource as well as mineralization further at depth.

Additional Information:

Company: Red Pine Exploration
Website: http://www.redpineexp.com
Stock Symbol: TSXV: RPX
Date Published: Nov 21, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for InvestmentPitch Media

Red Pine Exploration assays unexpected gold zones at the Wawa Gold Project.

Highlights include 2 grams per tonne over 11.28 meters.

Red Pine Exploration’s latest drill results include the discovery of 3 new gold zones east and west outside of its Surluga Deposit’s 43-101 resource as well as mineralization further at depth.

Highlights include:

A new discovery east of the Surluga Deposit grading 2.00 grams per tonne gold over 11.28 meters, including 6.13 grams per tonne over 3.15 meters.

A discovery hole west of Surluga with assays including, 4.72 grams per tonne over 2.77 meters.

And a further discovery west with grades including, 5.13 grams per tonne over 1.80 meters.

The Wawa gold project comprises a large, 6,519-hectare property located 2 kilometers outside the town of Wawa in the prolific gold mining area in Northern Ontario, home to several of Canada’s largest current and past producing gold mines.

The Wawa gold project includes a current NI 43-101 resource of about 700,000 ounces in 2 deposits:

• 205,000 ounces at 5.31 grams per tonne indicated and,
• 396,000 ounces at 5.22 grams per tonne inferred at Surluga

and,

• 25,000 ounces of 7.5 grams per tonne indicated and,
• 75,000 ounces of 6.6 grams per tonne inferred at Minto Mine South

Over 95% of the contained ounces at both deposits are located between surface and 350 meters in depth, with both deposits remaining open at depth.

Drilling below the Surluga Deposit successfully showed that the mineralization of the deposit extends at depth.

The results from hole 282 indicate that higher-grade mineralization occurs in the down-dip extension of the structure that hosts the Surluga deposit.

Holes 281 and 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 283 shows that new zones of mineralization are possible in the footwall of the Surluga Deposit, parallel to the Jubilee Shear Zone.

Future drilling in this down-dip extension, could lead to the discovery of new gold-bearing structures that could host significant zones of gold mineralization and thereby extending the Surluga Deposit.

Higher-grade gold mineralization beneath the Surluga deposit assaying 5.21 grams per tonne over 1.00 meter in a partial intersection with further results from the intersections beneath the Surluga Deposit in holes 283 and 284 are still pending.

Quentin Yarie, CEO, stated, "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.”

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.

The shares are trading at $0.03.

Extensive information of the company’s history, technical reports including the recently updated NI 43-101 resource update and past results, are available on the company’s website at redpineexp.com and all the videos covering their news are available on our website at investmentpitch.com.

Contact Mia Boiridy, President, at 416-364-7024, email mboiridy@redpineexp.com or Quentin Yarie, CEO at 416-364-7024, email qyarie@redpineexp.com or Mia

I’m Nadika Viswakula for InvestmentPitch Media