Red Pine Exploration Inc. ("Red Pine" or "the Company") announces that it has staked an additional 137 hectares within the boundary of its Wawa Gold Project, bringing its total land package to 5,510 hectares (Figure 1). The Company has also completed its previously announced 6,000 metres drill program with the available results leading to the start of a larger 10,000 metres drill project.
Quentin Yarie, President and CEO of Red Pine, stated, "We are pleased to have secured this new area, within the limits of our Wawa Gold Project, that wasn't available previously. By securing these new claims, the Company is consolidating its land package and ensuring that it maximizes its holdings of prospective ground."
The new 10,000 metres drill program will continue to focus on advancing the Surluga Deposit and exploring targets within the Wawa Gold Corridor. A second drill will be mobilized after spring breakup.
Wawa Gold Project Highlights
- Hosts a 43-101 Inferred Resource ("Surluga Deposit") of 1,088 M oz at 1.71 g/t gold (0.5 g/t gold cut-off)1 open in all directions
- New gold mineralization discovered in the hanging-wall and footwall of the Surluga Deposit
- The resource appears to extend 525 metres to the north (2.0 g/t over 8.96 m)
- High-grade mineralization (57.31 g/t over 3.14 m) was found 3 km south of the resource
- The gold mineralization is hosted in closely stacked shear zones (Wawa Gold Corridor)
- Property hosts 8 past producing mines (120,000 oz gold at 9.04 g/t average grade)
- Located 2 km southeast of Wawa, Ontario, close to roads and infrastructure
Figure 1. Location map of newly staked ground - http://media3.marketwire.com/docs/a1098341.pdf
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.