Red Pine Receives Encouraging Results from Winter Drilling Program

May 5, 2017 @ 13:19

Red Pine Exploration Inc. has received the final assay results for holes DG-17-53 to DG-17-66 that were drilled 3 km south of the Surluga Deposit in the Darwin-Grace Mine area as part of the 6,000m winter drilling program.

Drilling highlights include (see Figure 1 and Table 1):

• DG-17-54: intersected the central high-grade zone of the Darwin-Grace Mine
  • 13.07 g/t gold over 7.62 m
• DG-17-55 and DG-17-56: intersected the northern high-grade zone of the Darwin-Grace Mine
  • 23.17 g/t gold over 4.45 m in DG-17-55
  • 23.10 g/t gold over 8.14 m in DG-17-56
• DG-17-63: intersected the Darwin-Grace Deformation Zone in the southern extension of the Darwin-Grace Mine
  • 3.1 g/t gold over 4.03 m
• DG-17-66: intersected the Nyman Vein North of the Darwin-Grace Mine:
  • 2.37 g/t gold over 3.82 m;

Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “We are very encouraged by the results we received from this preliminary exploration phase of the Darwin-Grace Mine area. The winter drilling program confirmed the extension of the shallow high-grade zones of the Darwin-Grace Structure beyond was what previously known and provided important geological data for the planning of follow-up drill programs in the Darwin-Grace Mine area.”

Overview of the Darwin-Grace Mine results 

The Darwin-Grace Mine area is located 3 km south of the Surluga Deposit Inferred Resource1 at the southern extent of the Wawa Gold Corridor. These preliminary drilling results indicate that the high-grade gold mineralization in the former Darwin-Grace Mine extends near-surface beyond what was previously known.

• Holes DG-17-53 and DG-17-54 tested the shallow extension of the central high-grade zone of the Darwin-Grace Mine. It was successfully intersected in DG-17-54, whereas DG-17-53 intersected the edge of the high-grade zone.

• Holes DG-17-55 and DG-17-56 successfully tested the extension of the northernmost and under-explored high-grade zone discovered in the Darwin-Grace mine drifts shortly before its closure in the 1930s. Holes DG-17-55 and DG-17-56 also indicate a down-plunge continuity of 22 m for the zone.

• Hole DG-17-60 and DG-17-61 tested the shallower extension of the high-grade zone intersected in DG-17-55 and DG-17-56.

• Holes DG-17-63 and DG-17-64 tested the southern extension of the Darwin-Grace mine. Hole DG-17-63 successfully intersected the Grace Deformation Zone, whereas hole DG-17-64 did not conclusively intersect the structure. Red Pine geoscientists hypothesize that the structure is possibly faulted resulting in an offset between DG-17-63 and DG-17-64. Surface mapping in the summer of 2017 will help to trace the southern extension of the Grace Deformation Zone.

• Hole DG-17-66 proves that the Nyman Vein, in which a grab samples collected in 2016 contained 143 g/t gold, continues at depth.

Table 1. Highlights of the winter 2017 drilling results in the Darwin-Grace Mine area

*Assay results reported over intersection length estimated in the Darwin-Grace Deformation to represent >80% true width; as it represents a recent discovery, no true width estimation is currently defined for the intersection in the Nyman Vein.

Wawa Gold Project 

The Wawa Gold property package consists of over 5,000 hectares and hosts several former mines with a combined historic production of 120,000 oz gold. To date, the largest gold deposit on the property is the Surluga deposit, which hosts a NI 43-101 Inferred Resource of 1,088,000 oz gold at an average grade of 1.71 g/t using a 0.5 g/t cut-off contained within 19.82 million tonnes2.

Exploration work by Red Pine during the past 12 months has involved the ongoing sampling of 42,000 metres of historic core that was never sampled by previous operators of the project (initiated in February 2016) and the completion in March 2017 of a 6,000-metre drill program (initiated in November 2016). This drill program is being currently followed by a new 10,000-metre drill program that was initiated in April 2017.

The goal of these sampling and drill programs is to fill-in gaps within the resource estimate with the expectation that it will lead to the definition of additional gold resources. The sampling and drill programs are expected to continue throughout 2017 and will be followed by an update to the NI 43-101 resource estimate.

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.