Red Pine Exploration Files NI 43-101 Technical Report for its Wawa Gold Project
Toronto, Ontario – June 12, 2015 – Red Pine Exploration Inc. (TSX-V: RPX) (the “Company” or “Red Pine”) confirms that it has filed on SEDAR the National Instrument 43-101 (“NI 43-101”) technical report in support of the Inferred Resource on the Wawa Gold Project, announced on June 11, 2015.
The independent technical report has an effective date of June 5, 2015 and was prepared by Ronacher McKenzie Geoscience (“Ronacher McKenzie”) in collaboration with SRK Consulting (Canada) Inc. (“SRK”). The mineral resource estimate was prepared by Sébastien Bernier (P.Geo.) of SRK. Mr. Bernier is the qualified person and is independent of Red Pine as defined by NI 43-101.
The technical report is available on SEDAR at www.sedar.com and the Company’s website at www.redpineexp.com..
- Improved Inferred Resource at the Surluga Deposit with a 14.7% increase in gold grade and a 1.5% increase in gold content contained within less tonnes of ore:
- 1,088,000 ounces at 1.71 grams per tonne (“g/t”) gold contained in 19.824 million tonnes (using an average 0.5 g/t gold cut off grade)
- Pit-constrained inferred resources of 676,000 ounces at 2.05 g/t gold and outside pit-constrained inferred resources of 298,000 at 1.07 g/t Au for all gold zones located between surface and 300 meters vertical depth (using a 0.4 g/t gold cut-off grade)
- High-grade Underground Constrained Inferred Resource:
- 114,000 ounces gold at 3.73 g/t gold (using a 2.5 g/t gold cut-off grade)
- 89.5% of the resource is located between surface and 300 m vertical depth.
- The Surluga Deposit contains discrete zones of higher-grade gold mineralisation that have a strong control on the spatial distribution of the gold.
- The Ronacher McKenzie-SRK report states: “Further, there is gold mineralization in the hanging wall and footwall secondary structures, but its geometry remains poorly constrained”. This indicates that the contained gold of the pit-constrained resource can be increased by defining (drilling and logging of historic core) the gold zones in the hanging wall and footwall of the Surluga Deposit. This can significantly improve the current Surluga resource and its economic potential.
The mineral resource estimation presented in the resource statement is limited to the Jubilee Shear zone. The Ronacher McKenzie-SRK report states, “…there is gold mineralization in the hanging wall and footwall secondary structures, but its geometry remains poorly constrained”. As a result, this mineralization has not been included in the updated resource statement. Figures 1 and 2 show the many gold intersections outside the main resource shell that are not included in the current resource statement such the Hornblende shear zone located 300 metres from the Jubilee shear zone, the Minto shear/vein systems located in the hanging wall of the Surluga deposit as well as many gold-mineralized shear systems and tensional vein sets.
Examples of historic and recent drill intersections in the hanging wall and footwall of the Surluga Deposit which are not included in the current resource statement include:
- 2 metres @ 13.65 g/t gold (Minto shear system – SD-15-07),
- 12.16 metres @ 3.39 g/t gold (Minto shear system – U1509L5),
- 2 metres @ 5.66 g/t gold (Minto shear system – SD-14-06), and
- 4.12 metres @ 3.32 g/t gold (Unnamed shear zone – S214).
- 1 metre @ 51.7 g/t gold (tension quartz veins – SD-15-11),
- 10.27 metres @ 3.01 g/t gold (Hornblende shear zone – U0007L7), and
- 9.85 metres @ 3.16 g/t gold (Hornblende shear zone – U1116L3).
The updated technical report and revised resource estimate highlight many key features of the Surluga Deposit:
- Better grade of the overall resources with an increase in size of the inferred resource;
- The sensitivity analysis, which provides a direct comparison with the historical resource at a 0.5 g/t cut-off , shows a 17% increase in the total gold content and a 10.7% increase in the grade for the gold zones of the Surluga Deposit;
- Better definition of the high-grade zones of the deposit that remain open at depth will most likely have a positive influence on the economics of the deposit; and
- Potential to significantly improve grade and economics of the Surluga Deposit through additional verification and subsequent inclusion of the many gold zones located in the hanging wall and footwall that have been excluded in the current resource statement.
Quentin Yarie, P.Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical portions of this news release outside the scope of the Independent Technical Report and is responsible for overseeing all aspects of the company’s exploration programs.
About Red Pine Exploration Inc.
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”.
For more information about the Company visit www.redpineexp.com
Quentin Yarie, President & COO, (416) 364-7024, [email protected]
Or Mia Boiridy, Investor Relations, (416) 364-7024, [email protected]