Vancouver, British Columbia–(Newsfile Corp. – March 4, 2019) – Red Pine Exploration, (TSXV:RPX), a gold exploration and development company operating in the prolific greenstone belt of Northern Ontario, announced new results from its delineation drilling of the Surluga Deposit. The Surluga deposit is one of two known resources, identified to date, on the large 6,519-hectare Wawa Gold Property, located near Wawa, Ontario. These latest results will be included a revised NI 43-101 resource estimate for the deposit that is expected to be issued in the second quarter of 2019.
For more information, please view the InvestmentPitch Media “video” which provides additional information on the company and this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Red Pine” in the search box. Quentin Yarie, President and CEO, was recently interviewed in this “video” by David Morgan of the Morgan Report.
Cannot view this video? Visit:
Quentin Yarie, President and CEO, stated: “The discovery of significant mineralization, both in width and grade, outside of the current footprint of the inferred resource, indicates that our understanding of the deposit has increased substantially. The holes reported here are filling numerous gaps in the Surluga Deposit that were never explored before, but are adjacent to the existing underground infrastructure of the Surluga and Jubilee Mines. Assay results for another 23 drill holes are still pending. Visible gold, and arsenopyrite, typically associated with zones of stronger gold mineralization in the Surluga Deposit, were also observed in those pending holes.”
Highlights include Hole 243A containing 14.3 gpt gold over 7 metres including 42.2 gpt gold over 2 metres true width. Also Hole 244 containing 5.4 gpt gold over 4.8 metres, including 6.7 gpt gold over 3.1 metres true width, and Hole 248 containing 7.3 gpt gold over 2.8 metres true width.
The company discovered significant mineralization in gold zones above the Jubilee Shear in the extension of the Minto B Shear Zone, with Hole 247 containing 1.1 grams per tonne gold over 51.4 metres, including 8.3 grams per tonne gold over 1.2 metres and 6.7 grams per tonne gold over 3.1 metres.
Red Pine’s delineation program has both expanded and discovered zones of gold mineralization in both the hanging wall and footwall in the Jubilee Shear Zone, including as previously noted, a wide zone of gold mineralization intersected in the Minto B structure.
Drilling results to date support the potential for the Surluga Deposit to host a higher-grade gold resource, accessible using the existing underground developments of the Surluga Mine. Recent drilling is also confirming that additional gold zones exist below the Jubilee Shear Zone (host of the Surluga Deposit) and that higher-grade mineralization can be found in those gold zones.
Since December 2014, Red Pine’s exploration work has involved the ongoing sampling of 42,000 metres of historic core that was never sampled by previous operators. To date, the company has completed over 59,000 metres of drilling and made four discoveries along the extension of the Surluga Deposit.
For more information, please visit the company’s website www.redpineexp.com, or contact Quentin Yarie, President & CEO at 416-364-7024, or email [email protected]. Investor relations is handled by Mia Boiridy, who can be contacted at 416-364-7024, or by email at [email protected].
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43199
Original Press Release: stockhouse.com