Red Pine Exploration Continues to Intersect Hanging Wall Mineralization, Wawa Gold Project & Initiates Brokered Financing

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Red Pine Exploration Continues to Intersect Hanging Wall Mineralization, Wawa Gold Project & Initiates Brokered Financing

by ahnationtalk on April 28, 2015383 Views

Toronto, Ontario – April 28, 2015 – Red Pine Exploration Inc. (TSX-V: RPX) (the “Company” or “Red Pine”) has completed more than 4,000 metres (“m”) of drilling on the Surluga Deposit as part of its winter/spring 2015 drill program. The program’s primary focus was to provide infill-drilling results to update and further enhance the existing resource on the property. Results for holes SD15-14 through SD-15-22 have now been received and assays are pending for the remaining holes.

Significant intervals and composite assay results from these holes are summarized below:

Significant intervals and composite assay results expected to be included in the revised resource are summarized below:

Intervals greater than 10 grams per tonne (“g/t”) gold

Drill Hole From (m) To (m) Length (m)* Gold (g/t) Mineralization type
SD-15-14 282 283 1 11.20 Jubilee shear zone

Composites greater than 5 g/t gold

Drill Hole From (m) To (m) Length (m)* Gold (g/t) Mineralization type
SD-15-14 268.13 269.8 1.67 6.22 Jubilee shear zone
SD-15-14 282 284.2 2.2 5.96 Jubilee shear zone
SD-15-19 84.6 85.6 1 5.11 Jubilee shear zone
SD-15-22 56.04 57.0 0.96 5.67 Jubilee shear zone

Intervals greater than 0.8 gram per tonne (“g/t”) gold

Drill Hole From (m) To (m) Length (m)* Gold (g/t) Mineralization type
SD-15-14 19.7 20.7 1 0.90 Minto B shear
SD-15-14 244 287 43 1.00 Jubilee shear zone
SD-15-15 164 174 10 0.80 Jubilee shear zone
SD-15-16 161 163 2 0.94 Jubilee shear zone
SD-15-17 139.9 145 5.1 0.95 Pyritic zone in hanging wall
SD-15-19 72 93 21 0.84 Jubilee shear zone
SD-15-22 53.4 60 6.6 0.9 Jubilee shear zone
SD-15-22 68.67 78 9.33 0.90 Jubilee shear zone

Intervals greater than 0.5 gram per tonne (“g/t”) gold

Drill Hole DH From (m) DH To (m) Length (m)* Gold (g/t) Mineralization type
SD-15-19 72 92.93 20.93 0.839 Jubilee shear zone
SD-15-22 51.5 79.0 27.5 0.57 Jubilee shear zone

*True width has not been calculated for each individual intercept, but true width is generally estimated at 85%-95% of drilled width.

New insights on the geometry of gold zones in the Surluga deposit
Drag folding has been identified as an important control on the geometry of the gold mineralization in the Jubilee Shear Zone. Folding can substantially increase the thickness of the shear zone and consequently the mineralized intersection. In drill hole SD-15-14 drag folding has distributed gold mineralization well below the currently defined Jubilee Shear Zone.

Previously unidentified zones of high-grade gold mineralization can therefore exist below the defined resources of the Surluga deposit where drag folding is the prevalent control on the mineralization zone geometry.

Gold mineralization in the hanging wall of the Surluga deposit

Results from these new drill holes continue to identify new zones of gold mineralization in the hanging wall of the Surluga deposit and indicate that zones of gold mineralization exist in the previously assumed barren and discounted material overlying the Surluga Deposit.

One of the main gold-bearing structures of the hanging wall, herein referred to as the Minto B Fault, has now been demonstrated as being gold-bearing below surface over a strike length of 250m, with mineralized thickness up to 27m. The compilation of historical datasets coupled with recent interpretation, indicates that the Minto B Shear Zone has an overall strike length of at least 900m over the southern part of the Surluga deposit and may extend further to the north. The other mineralized zone intersected in the hanging wall is a zone of high pyrite enrichment in the otherwise weakly deformed diorite.

Hanging wall drill intersections:

Drill Hole From (m) To (m) Length (m)* Gold (g/t) Mineralization type
SD-15-14 18.6 27.5 6.86 0.43 Minto B
SD-15-17 139.9 148.8 8.69 0.57 Pyritic zone in diorite

New insights on the other gold mines of the property (Figure 1)

Compilation of the historical dataset of the property has better defined the timing and geometry of historically mined gold zones, and indicates that shallow gold mineralization can be found in the vicinities of all the historical mines.

The largest historical mines (e.g. Parkhill, Darwin) are generally formed by two distinctive sets of veins. One set is typically formed by arrays of quartz tension veins with a NW to NNW orientation, and the other set is comprised of shear hosted quartz veins with a ENE to NE orientation. In all of the historical mines, the tensional and shear vein sets have the same orientation, indicating that they were most likely formed during the same gold mineralization event that extends over at least a 5.5km wide region.

Some of the tensional vein sets are mapped over a strike length in excess of 0.6 km (Darwin, Cooper, Minto). New interpretations indicate that many tensional vein sets have a potential strike length continuity well over 1 km. Similar strike lengths have also been demonstrated for some of the shear vein sets (Parkhill-Van Sickle, Minto B).

Figure 1 – Wawa Gold Property

Brokered Financing

The Company is proceeding with a Brokered Financing of up to $1 million. Terms of the financing are being finalized with the Agent and it is anticipated that the private placement will close by May 18, 2015.

On-site Quality Assurance/Quality Control (“QA/QC”) Measures

Drill core samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Ancaster, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The remaining coarse reject portions of the samples remain in storage at the Activation Laboratories Ltd. in Ancaster, Ontario as required in the event that further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Wawa Gold Project Highlights

  • Located in Wawa, Ontario, an area of significant historical and current gold exploration (since 1890’s) and production (1902 to 1991);
  • Property hosted eight past producing mines with historic production of over 120,000 ounces (Watts, Griffis and McQuat, NI 43-101 technical report dated October 15, 2012 );
  • Inferred resource of 1,072,335 ounces at 1.49 grams per tonne gold contained in 22.355 million tonnes, open along strike and at depth;;
  • Proximity to established regional infrastructure (roads, rail, regional airport, high voltage power lines, water).

Qualified Person

Quentin Yarie, P.Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is responsible for overseeing all aspects of the company’s exploration programs.

About Red Pine Exploration Inc.

Red Pine Exploration 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”.
For more information about the Company visit www.redpineexp.com

Or contact:

Quentin Yarie, President  & COO, (416) 364-7024, [email protected]

Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]

NT3

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