Source
MARKET NEWS
Date 12/17/2014
Time 03:24:55 AM
Company
Red Pine Exploration Inc.
Title Confirms Gold Mineralization Extends Beyond The
CDNX Symbol: RPX
Press Release
Confirms Gold Mineralization Extends Beyond The Surluga Gold Deposit
--->@NEWS RELEASE
RED PINE EXPLORATION INC ("RPX-V")
- Confirms Gold Mineralization Extends Beyond The Surluga Gold
- Deposit
Red Pine Exploration Inc. ("Red Pine" or the "Company") announces
that it has received assay results from the Company's surface sampling
program. As part of its due diligence on the Wawa Gold Project property
(the "Wawa Gold Project") and to further establish the property's
potential for additional high-grade gold mineralization, Red Pine
revisited some of the known high-grade quartz veins on the property
(see Figure 1). This field sampling program was undertaken to confirm
the reported historic grades for gold showings and prospects related to
quartz veins and gold-bearing shear zones, and to better understand how
the morphology of the different quartz vein sets is constrained.
A map is available at the following address:
http://media3.marketwire.com/docs/b984368.pdf
Geochemical analyses confirmed each noted prospect and returned
gold assay grades of up to 31.9 grams per tonne* in individual grab
samples of quartz veins and gold-bearing shear zones (Table 1).
Sampling also confirmed the potential to intersect high-grade quartz
veins and shear zones that extend beyond the Surluga Gold Deposit - an
inferred gold resource of 1.1 million ounces at 1.49 grams per tonne.
*Bedrock samples were selective samples chosen to test for the
presence of gold. The grades and mineralization present are not
necessarily representative of other mineralization that may be
identified on the property.
//st
Sample
22313
22314
22316
22327
22328
22334
22336
22338
22340
22201
22205
22208
//et
Prospect/Deposit
Mackay
Mackay
Cora Shaft
Minto
Minto
Sunrise
Sunrise
Sunrise
Sunrise
Mariposa
Darwin-Grace
Van Sickle
Sample
Quartz
Quartz
Quartz
Shear
Shear
Quartz
Quartz vein/Shear
Quartz
Quartz
Quartz
Quartz
Quartz
type
vein
vein
vein
zone
zone
vein
zone
vein
vein
vein
vein
vein
Gold (g/t)
5.63
14.70
2.30
17.00
5.51
9.25
31.9
27.00
15.00
11.00
13.5
3.48
//st
Table 1. Medium- to high-grade gold samples collected in historic
prospects/deposits of the Wawa Gold Project
//et
The intersections of high-grade quartz veins and shear systems
associated with the Surluga Deposit could represent a key element for
the formation of high-grade gold mineralization zones at Surluga. The
gold-rich shear zones and quartz veins at the Minto and Sunrise
prospects suggest potentially undiscovered high-grade gold zones in the
Surluga Deposit.
Wawa Gold Project Highlights
//st
Located in Wawa, Ontario, an area of significant historical and current
gold exploration (since 1890's) and production (1902 to 1991);
172 patented and leased and unpatented mining claims within the McMurray
Township, a total of 2,426;
182 claim units on crown land, a total of 2,912 hectares;
Property hosted eight past producing mines with historic production of
over
120,000 ounces;
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, natural gas, water).
Assumption agreement in place with Augustine Ventures (CSE: WAW) and
Citabar
//et
On-site Quality Assurance/Quality Control ("QA/QC") Measures
All samples were shipped to and analysed by Activation
Laboratories Ltd. in Ancaster, Ontario. Individual samples were
labelled, placed in plastic sample bags and sealed. Groups of samples
were then placed into durable rice bags that were shipped out. The
remaining coarse reject portions of the samples will remain in storage
at the Activation Laboratories Ltd. in Ancaster, Ontario as required in
the event that further work or verification is needed.
Qualified Person
Quentin Yarie, PGeo. 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".
The Mineral Resource is disclosed in the NI 43-101 compliant
technical report titled "Amended Technical Review and Mineral Resource
Estimate for the Jubilee-Surluga Property, near Wawa, Ontario, Canada
for Augustine Ventures Inc." dated October 12, 2012 and prepared by
Clifford J. Duke, P. Eng., Senior Associate Geological Engineer of
Watts, Griffis and McOuat, Consulting Geologists and Engineers. The
report is available on www.SEDAR.com under Augustine's profile.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements.
Forward-looking statements are statements which relate to future
events. In some cases, you can identify forward-looking statements by
terminology such as "may", "should", "expects", "plans", "anticipates",
"believes", "estimates", "predicts", "potential" or "continue" or the
negative of these terms or other comparable terminology. These
statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity,
performance or achievements expressed or implied by these
forward-looking statements.
TSX Venture closing price for RPX-V
Date: 2014/12/16
Closing Price: 0.02
TEL: (416) 364-7024
qyarie@redpineexp.com
Quentin Yarie, President & COO
mboiridy@redpineexp.com Mia Boiridy, Investor Relations
www.redpineexp.com
Red Pine Exploration Inc.
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