Red Pine Exploration Inc. announces that it has staked an additional 194 hectares adjacent to its Wawa Gold Project, bringing its total land package to 5,373 hectares (Figure 1 to right).
The staked ground appears to be an extension of the structure hosting the Golden Reed Mine which operated in 1907 and 1908 (calculated grade of production of 2.3 oz/ton – 78.66 g/t gold1). Exploration work conducted in the 1990’s identified gold-bearing veins in the area. A grab sample taken from a three-foot wide quartz vein contained 31.12 g/t gold2 and a sample with 8.676 g/t gold3 appears to show that the gold is hosted in a shear zone.
Quentin Yarie, President and CEO of Red Pine, stated, “We are pleased to have this additional area staked. We believe that the Golden Reed Mine is possibly located along a shear zone similar to the Wawa Gold Corridor. Our newly staked area may be located within its extension and there is potential for additional gold mineralization in the area.”
Red Pine Exploration Inc. 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”. Red Pine has a 60% interest in the Wawa Gold Project with Citabar LLP holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.