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Red Pine prepares for July 2019 diamond drill program at its Wawa Gold Project

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To date the company has reported a mineral resource estimate for 2 adjacent deposits: an updated estimate for the Surluga deposit and a maiden resource for the Minto Mine South Deposit, both of which exceed 5 grams per tonne and are open at depth.

Additional Information:

Company: Red Pine Exploration
Website: http://www.redpineexp.com
Stock Symbol: TSXV:RPX
Date Published: Jun 26, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for InvestmentPitch Media

Red Pine Exploration has announced a diamond drilling program to begin mid-July to test the first 2 of 6 priority targets, to depth below 350 meters, at its Wawa Gold Project, at the newly discovered Cooper Structure and at the Surluga Deposit.

Mechanized ground stripping is currently underway at the Cooper Shear Structure, Grace Deformation Zone and the southern extension of the Jubilee Shear Zone.

Red Pine’s 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.

To date the company has reported a mineral resource estimate for 2 adjacent deposits: an updated estimate for the Surluga deposit and a maiden resource for the Minto Mine South Deposit, both of which exceed 5 grams per tonne and are open at depth.

In a comparison of the 2015 and 2019 block models, the company shows that it has increased the “Indicated” tonnage by 1,336,000 tonnes at grades from 5.26 grams per tonne to 7.5 grams per tonne for an additional 233,000 ounces gold.

In the “Inferred” category, tonnage was reduced by 17% while increasing the grade by 24% to add a net 2.3% more ounces of gold.

Quentin Yarie, President and Chief Executive Officer of Red Pine stated, "We were successful in upgrading the Surluga Deposit, considering the requirement for reasonable prospects of eventual economic extraction, from a pit constrained model to an underground resource model that is accessible utilizing the existing underground mining infrastructure. Our strategy moving forward will be to continue to define shallow, high-grade deposits, on the property and prove the extension of the Surluga and Minto Mine South deposits beyond the relatively shallow footprints of the current mineral resources”.

In addition to the 2 deposits currently identified on the property, the company has identified an additional six gold-bearing structures on the property to be tested.

Ground work is underway and a diamond drilling program is to begin mid-July 2019 at the southern extension of the Jubilee Shear Zone that hosts the Surluga Deposit, where the current resource has only been tested to a 350-meter depth, although the shear zone is known to extend for at least 5.5 kilometers and beyond 2 kilometers below surface.

and at the newly discovered Cooper Shear System, where mineralization similar to the Minto Mine South is known to extend from surface to 250 meters over a strike length of 750 meters

Future exploration plans will include diamond drill testing of the 4 other exploration targets on the property.
• The Grace Deformation Zone adjacent to the historic Darwin-Grace Mine
• The Hornblende Shear Zone
• The Minto B Shear Zone at the contact with the Jubilee Sheer Zone, host of the Surluga Deposit, and
• The Minto Lower and Parkhill #4 Shear Zone at the boundary adjacent to the current resource at the Minto Mine South Deposit.

The shares are trading at $0.045. (“4 and a half cents”)

For more information, please visit the company’s website, www.redpineexp.com
contact Quentin Yarie, President & CEO at 416-364-7024, email qyarie@redpineexp.com

For Investor Relations, contact Mia Boiridy at 416-364-7024, or email mboiridy@redpineexp.com

I’m Cassandra Bolinski for InvestmentPitch Media