Red Pine Exploration Inc. announces new results from three drill holes completed as part of its 20,000m drilling program at the Wawa Gold Project.
Drilling highlights for the Minto Mine South Zone include:
- Extension of the high-grade core of the Minto Mine South Zone laterally and at depth;
- SD-17-89 averages 8.55 g/t gold over 3.47 metres;
- SD-17-90 averages 15.3 g/t gold over 2.03 metres;
- SD-17-86 averages 24.9 g/t gold over 2.0 metres**
- Observation of visible gold in the Minto Mine South Zone in the southernmost step-out hole drilled so far in the structure; and
- Observation of visible gold in 7 out of the twelve additional holes in the Minto Mine South Zone.
**SD-17-86 had previously been reported over this interval. As part of the ongoing QA/QC procedures this intersection was re-assayed and the revised results are now presented.
Quentin Yarie, President and Chief Executive Officer of Red Pine stated, “The Minto Mine South Zone continues to produce high-grade gold intersections and remains open both along strike and at depth. The structure also remains predictable and enables us to efficiently follow its lateral and down-dip extension.”
|Table 1. Highlights of the 2017 drilling results south of the Minto Mine|
|150.10||152.30||2.20||4.94||Minto Mine South Zone|
|*Assay results reported over intersection length. In the Minto Mine South Zone, intersection length estimated to represent ≥ 85% true width for SD-17-89 and 17-90, ≥ 95% true width for SD-17-85 and SD-17-86. As it represents a discovery with a single intersection, no true width estimation is available for the discovered gold zone in SD-17-92 and additional drilling will be required to estimate the true width of the structure.|
Overview of the drilling results in the Minto Mine South Zone area
Holes SD-17-89 and SD-17-90 were testing the Minto Mine South Zone down-dip of SD-17-86 and successfully intersected the extension of the high-grade zone of SD-17-86 (24.9 g/t gold over 2m). With the current drilling, the Minto Mine South Zone is now defined over an area of 350m x 300m.
SD-17-92 tested the Minto Mine South Zone down-dip of the former Minto Mine. SD-17-92 hit the intersection of the Minto Mine Structure and a new gold-bearing structure which was previously unknown.
Results for 12 boreholes in the Minto Mine South Zone are still pending. The zone remains open at depth and along strike (>1km) to the south. Ten (10) additional drill holes are currently planned to further define its strike length and depth. These will also aid in further defining the Minto E Zone which has produced several intersections with visible gold to date.
Wawa Gold Project
The Wawa Gold property package consists of over 5,500 hectares and hosts several former mines with a combined historic production of 120,000oz gold1. 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 18 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 was immediately followed by a new 20,000-metre drill program as announced on May 17, 2017.
Red Pine has discovered many new zones of gold mineralization (Darwin-Grace, Minto Mine South Zone, Surluga North, Hornblende-William) that are anticipated to have a positive impact on the property’s gold inventory. All the mineralized zones are interpreted to form a coherent structural system hosted and spatially connected by the Wawa Gold Corridor.
The Company is well positioned to fund its share of the Wawa Gold Project exploration program following the completion of a brokered private placement for gross proceeds of $6,540,240 on February 24, 2017. As such, 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.
1Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc. (effective May 26, 2015)). The report is available on www.SEDAR.com under Red Pine’s profile.
2NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)).