Property Size and Position:
43 unpatented and 164 patented mining claims totaling 5,582 hectares within the McMurray Township, 2 km southeast of the Town of Wawa, Ontario.
60% Red Pine Exploration, 40% Citabar LP. Red Pine is the Operating Manager of the Project.
The property has hosted numerous gold mines with historic production of over 120,000 ounces. To date, the largest gold deposit on the property is the Surluga Deposit.
Historically, more than 87,000 metres have been drilled on the property. At the Surluga Deposit, 252 surface holes totalling 45,346 metres and 1,339 underground holes totalling 41,753 metres.
While the property hosted numerous historical gold mines, these were owned by different operators and they were never geologically connected. With a comprehensive examination of the geology, geophysics, geochemistry, alteration mineralogy and structural geology, Red Pine has uncovered new targets.
The property hosts a 43-101 inferred resource (the “Surluga Deposit”) of 1,088,000 ounces of gold at 1.71 g/t grams per tonne using a 0.50 g/t gold cut-off grade, contained in 19.82 million tonnes open along strike and at depth (Mineral resource statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, Ronacher Mckenzie Geoscience and SRK Consulting (Canada) Inc., May 26, 2015).
Since November 2014, Red Pine’s exploration work has involved the on-going sampling of 42,000 m of historic core that was never sampled by previous operators and aggressive drilling campaigns. To date, the Company has completed over 40,000 m of drilling and made four key discoveries along the extension of the Surluga Deposit that are part of the Wawa Gold Corridor, a gold-mineralization zone that extends for more than 5 km.
The discovery of the Minto Mine South Zone and the re-evaluation of the high-grade zones if the Surluga Deposit suggest that multiple high-grade gold deposits could be delineated on the property. To further quantify this potential, Red Pine completed an estimation of three exploration targets focused on the higher-grade assets of the property (see March 2, 2018 News Release).
The Company has identified three exploration targets focused on the higher-grade zones of the Wawa Gold Project. The contained ounces in the combined 3 targets range from 0.725 Moz to 3.0 Moz gold*:
- Hangingwall-Footwall Exploration Target: 0.5 Mt to 3.5 Mt at 4 g/t to 9.5 g/t gold
- Surluga Exploration Target: 3 Mt to 5 Mt at 4.9 g/t to 6.5 g/t gold
- Minto-Darwin Exploration Target: 1.5 Mt to 3 Mt at 4.0 g/t to 10 g/t gold
* The Reader is cautioned that the potential tonnages and grades of the Exploration Targets are conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in any of the Exploration Targets being delineated as a mineral resource. Red Pine’s current 30,000 m in-fill drilling program and the sampling of the remaining historical core is designed to expand the size of the existing inferred resource on the property. The Company is moving from exploration to resource delineation and has initiated a 43-101 resource estimation of the Minto Mine South Zone. A revised 43-101 of the Surluga Deposit will be launched later this year. The Company is well funded and as such, the sampling and drilling programs will continuein 2018.