Toronto, Ontario – December 17, 2014 – Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that it has received assay results from the Company’s surface sampling program. As part of its due diligence on the Wawa Gold Project property (the “Wawa Gold Project”) and to further establish the property’s potential for additional high-grade gold mineralization, Red Pine revisited some of the known high-grade quartz veins on the property (see Figure 1). This field sampling program was undertaken to confirm the reported historic grades for gold showings and prospects related to quartz veins and gold-bearing shear zones, and to better understand how the morphology of the different quartz vein sets is constrained.
Geochemical analyses confirmed each noted prospect and returned gold assay grades of up to 31.9 grams per tonne* in individual grab samples of quartz veins and gold-bearing shear zones (Table 1). Sampling also confirmed the potential to intersect high-grade quartz veins and shear zones that extend beyond the Surluga Gold Deposit – an inferred gold resource of 1.1 million ounces at 1.49 grams per tonne.
Figure 1 – Location of the bedrock samples at the Wawa Gold Project
*Bedrock samples were selective samples chosen to test for the presence of gold. The grades and mineralization present are not necessarily representative of other mineralization that may be identified on the property.
Quartz vein/Shear zone
Table 1. Medium- to high-grade gold samples collected in historic prospects/deposits of the Wawa Gold Project
The intersections of high-grade quartz veins and shear systems associated with the Surluga Deposit could represent a key element for the formation of high-grade gold mineralization zones at Surluga. The gold-rich shear zones and quartz veins at the Minto and Sunrise prospects suggest potentially undiscovered high-grade gold zones in the Surluga Deposit
Wawa Gold Project Highlights
- Located in Wawa, Ontario, an area of significant historical and current gold exploration (since 1890’s) and production (1902 to 1991);
- 172 patented and leased and unpatented mining claims within the McMurray Township, a total of 2,426;
- 182 claim units on crown land, a total of 2,912 hectares;
- Property hosted eight past producing mines with historic production of over 120,000 ounces;
- Inferred resource of 1,072,335 ounces at 1.49 grams per tonne gold contained in 22,355 tonnes, open along strike and at depth;
- Reinterpretation of property geology could lead to improvement in both grade and size of the gold resource;
- Proximity to established regional infrastructure (roads, rail, regional airport, high voltage power lines, natural gas, water).
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
All samples were shipped to and analysed by Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags that were shipped out. The remaining coarse reject portions of the samples will remain in storage at the Activation Laboratories Ltd. in Ancaster, Ontario as required in the event that further work or verification is needed.
Quentin Yarie, P.Geo., President and COO of Red Pine, is the qualified person who approved the disclosure contained in this news release, has reviewed the Augustine Technical Report on behalf of Red Pine and will be responsible for overseeing all aspects of the Company’s exploration programs on the Wawa Gold Project. Mr. Yarie has not yet independently verified the disclosure in the Technical Report as Red Pine has just finalized the Assumption Agreement as of the date hereof.
About Red Pine Exploration Inc.
Red Pine Exploration 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”. RPX has an option earn up to a 45% interest in the Wawa Gold Project property (the “Wawa Gold Project”), which is located approximately 2 kilometers southeast of the Town of Wawa in Northern Ontario. Red Pine also has the right to earn a pro rata interest in Augustine’s existing interests in all mineral properties acquired by Augustine within an area of influence defined as a 5 kilometer radius from the perimeter of the Wawa Gold Project.
For more information about the Company visit www.redpineexp.com
Quentin Yarie, President & COO, (416) 364-7024, email@example.com
Or Mia Boiridy, Investor Relations, (416) 364-7024, firstname.lastname@example.org
*The Mineral Resource is disclosed in the NI 43-101 compliant technical report titled “Amended Technical Review and Mineral Resource Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada for Augustine Ventures Inc.” dated October 12, 2012 and prepared by Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of Watts, Griffis and McOuat, Consulting Geologists and Engineers. The report is available on www.SEDAR.com under Augustine’s profile.
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