Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or "the Company") announces that it has contracted Golder Associates Ltd. ("Golder") to review the exploration target potential at the Wawa Gold Project and update the June 2015 Technical Report.
Quentin Yarie, President and CEO of Red Pine, stated, "We are pleased to work in collaboration with Golder to review the exploration target at the Wawa Gold Project. From the beginning, our team determined that there was more gold on the property than previously thought. Our exploration program to date has shown that many mineralized gold zones are not included in the current inferred resource and that high-grade gold zones exist beyond it. As we continue to aggressively advance exploration on the property, Golder's review will provide stakeholders and investors with insight on the possible extent of the gold mineralization at Wawa."
The exploration target will summarize the tonnage and grade ranges for the mineralized corridor that includes the Surluga Deposit at the Wawa Gold Project. The Reader is cautioned that the potential quantity and grade will be conceptual in nature, that there will be insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Golder will then complete an update of the June 2015 Technical Report that will include the exploration target and provide recommendations for future exploration programs.
Wawa Gold Project Highlights
- The Surluga Deposit hosts a 43-101 Inferred Resource of 1.088 Million oz gold at 1.71 g/t gold (0.5 g/t gold cut-off)2
- The deposit remains open in all directions including new gold mineralization discovered in the hanging-wall and footwall of the Surluga Deposit
- Recent exploration results suggests gold mineralization extends 525 metres to the north (2.0 g/t over 8.96 m [SD-16-43])
- High-grade mineralization (57.31 g/t over 3.14 m [DG-17-56]) exists 3 km south of the Surluga deposit
- The gold mineralization is hosted in closely stacked parallel shear zones (Wawa Gold Corridor)
- Property package hosts 8 past producing mines (total historic production of 120,000 oz gold with an average grade of 9.04 g/t gold)
- Located 2 km southeast of the Municipality of Wawa, Ontario, close to roads, power and other infrastructure
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.