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TORONTO, May 07, 2020 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (RPX.V) ("Red Pine" or the "Company") announces the relaunching of field activities and drilling at its Wawa Gold Project, located 2 km southeast of Wawa, Ontario. The 2020 drilling program was suspended in March due to COVID-19 (see March 31, 2020 News Release). With strict health protocols in place, geologists are now on site to re-open camp and resume field operations this week. The drilling program will relaunch within the next two weeks. Red Pine’s programs are fully-funded and the Company was able to complete approximately 3,000 metres of a 16,000-metres drilling program before suspending operations. Results for 3 drill holes completed this winter are pending and will be announced as they are received.
2020 Drilling Program
The 2020 expansion drilling program will continue to focus on the down-plunge and downdip extensions of the Surluga Deposit to expand the current NI 43-101 resource1 both laterally and to depth.
The program is designed to:
Expand gold mineralization in the downdip and down-plunge extensions of the Surluga Deposit;
Expand gold mineralization in the Hornblende Shear Zone, adjoining and parallel to Surluga;
Test the Jubilee Shear Zone extension south of the Parkhill Fault, south of the Surluga Deposit.
Five holes were completed at depths of 500 to 600 metres as part of the Winter 2020 drilling program. Holes SD-20-285A and SD-20-286 were testing the deeper extension of the Jubilee Shear Zone, beyond the current footprint of the Surluga Deposit. Hole SD-20-285A intersected 5.7 g/t gold over 0.6 metres at a depth of 444 metres down-hole while SD-20-286 intersected 3 zones of high-grade gold mineralization between 541 and 567 metres (see April 2, 2020 News Release). Drill results for the remaining 3 holes will be released when they are received.
Cross-Hole IP & Resistivity Surveys
The objective of the IP program is to locate and better define the strongly mineralized gold-bearing Jubilee Shear Zone versus areas within the zone that are less prospective. The following nine (9) borehole pairs (Figure 1) will be surveyed and these results will determine continued IP surveying:
SD-18-241 to SD-15-20
SD-18-241 to SD-15-21
SD-18-241 to SD-18-243A
SD-18-255 to SD-18-243A
SD-18-255 to SD-18-241
SD-18-255 to SD-20-287
SD-18-255 to SD-20-285A
SD-20-286 to SD-20-285A
SD-20-286 to SD-20-287
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e520654b-a8b3-40b7-bf6f-0ec9dade8f7a
Both the Parkhill #4 and the Grace shear zones have the potential to host mineralization comparable to what has been discovered in the Minto Mine South Deposit2. Red Pine’s drilling in 2018 intersected 16.3 g/t gold over 0.6 metres in the up-plunge extension of the zone mined in the Parkhill Mine in the 1930s and showed that the structure had lateral continuity over a strike length of at least 1.4 km (see July 12, 2018 News Release). In the Grace Shear Zone, Red Pine’s 2017 drilling intersected 57.31 g/t gold over 3.14 metres (see March 3, 2017 News Release), revealing that high-grade mineralization extends beyond the footprint of the Darwin-Grace Mine.
Trenches covering the Parkhill #4 and the Grace Shear zones were dug last fall, but the early snow precluded any further work. The 2020 mapping program will: 1) gather well-constrained structural data to refine the Company’s targeting matrix in those structures; 2) confirm the potential 900-metres strike length of the Grace Shear Zone to its intersection with the southern extension of the Jubilee Shear Zone; 3) include fieldwork in the extension of the Jubilee Shear Zone where trenching and channel sampling in 2019 identified promising zones of mineralization.
To date, the Company has had no suspected nor confirmed cases of COVID-19 and it has implemented specific protocols to protect its employees, contractors and the community where it operates. The Company initiated a work-from-home policy for corporate and non-essential exploration staff. Following the public guidance from the Ontario Government and the Ontario Health Authority, in addition to adhering to a strict hygiene protocols, the Company will be operating its drill program with a reduced work force, a rotational work schedule and designated work areas to limit interaction between staff and reduce the chance of virus transmission.
CEO Clips on the BNN Bloomberg Channel
BTV’s CEO Clips, a series of short video profiles on innovative publicly traded companies across North America, will feature Red Pine on the BNN Bloomberg Channel beginning May 9, Saturday & Sunday, throughout the day and evenings. View link: https://www.b-tv.com/red-pine-exploration-gold-project-ceo-clip-90sec
Further online distribution through BTV’s CEO Clips includes: Thomson Reuters Terminals, Yahoo Finance, Stockwatch, Bloomberg, Stockhouse.com and BTV’s YouTube channel.
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
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".
Red Pine has a 64.5% interest in the Wawa Gold Project with Citabar LP. holding the remaining 35.5% interest. Red Pine is the operating manager of the Project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com
Quentin Yarie, CEO, (416) 364-7024, firstname.lastname@example.org
Or Mia Boiridy, President, (416) 364-7024, email@example.com
1Wawa Gold Project resource of 1,307,000 tonnes @ 5.47 g/t gold for 230,000 ounces in the indicated category and 2,716,000 tonnes @ 5.39 g/t gold for 471,000 ounces in the inferred category (National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019).
2NI 43-101 maiden resource of 100,000 ounces of gold at an average grade of 6.8 g/t using a cut-off grade of 3.5 g/t gold (Initial Technical Report for the Minto Mine South Property, Golder Associates Ltd. (effective Nov. 7, 2018)).
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. 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.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.