Red Pine Exploration Inc (TSX-V:RPX, OTCQB:RDEXF) has reported assays from last year's drill program, which include the discovery of a new zone called the Surluga North discovery, which has the potential to expand the current resource of the Surluga deposit at its Wawa gold project in Ontario, Canada.
One hole hit a mineralized envelope covering 27.26 meters (m) 140m down-dip from the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear zone. Intercepts included 18.21 grams per ton (g/t) gold over 1.95m true width from 257.45m depth and 18.14 g/t gold over 0.82m from 283.58m depth.
A mineral resource from May 2019 pegged the indicated category at the Surluga deposit at 205,000 ounces of gold at a grade of 5.31 g/t. Inferred was 396,000 ounces at 5.22 g/t of the precious metal.
"Our on-going exploration program testing the southern and northern extensions of the Jubilee Shear Zone continue to indicate that significant zones of gold mineralization remain to be discovered down-dip and beyond the footprint of the existing resources," Quentin Yarie, the CEO of Red Pine Exploration said in a statement.
WATCH: Red Pine Exploration talks expanding its Ontario-based Wawa Gold Project at depth in 2022 program
"Hole SD-21-308 opened a potential extension of gold mineralization beyond the current boundary of the Surluga Deposit resource which is less than 250 meters below surface," he added.
"With four drills turning on-site, our exploration program can now test in parallel the Surluga South and North discoveries and the Darwin-Grace-Nyman target."
As part of ongoing drilling at Wawa, Red Pine is testing the northern and southern extensions of the Surluga deposit, and the extension of the Minto mine deposit beyond the footprints of their respective resources.
One drill rig is active at the northern end of the Surluga deposit and two are turning at the southern end. The southern drill rigs are also concurrently testing the Minto Mine Shear zone. A fourth rig is currently testing the Grace-Nyman shear system near the historic Darwin-Grace mine.
A 2018 resource for Minto mine south showed 25,000 ounces of gold at 7.50 g/t in the indicated category and 75,000 ounces at 6.6 g/t gold in inferred.
Toronto-headquartered Red Pine Exploration is focused on its wholly-owned Wawa gold asset in the Michipicoten greenstone belt of Ontario, a Tier 1 region, which has seen major investment by several producers in the last five years.
Red Pine's land package covers over 6,900 hectares (Ha) and hosts numerous historic gold mines. Its chairman is Paul Martin, the former CEO of Detour Gold. CEO Quentin Yarie has over 25 years of experience in mineral exploration and the firm says the board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining (CSE:GENM), Detour Gold and Paramount Gold Nevada Corp (AMEX:PZG).
Contact the writer at giles@proactiveinvestors.com