Red Pine Exploration Inc (TSX-V:RPX, OTCQB:RDEXF) has announced the publication of its inaugural 2021 Environmental, Social and Governance (ESG) report as it seeks to establish itself as a sustainable mineral explorer in the Michipicoten Greenstone Belt of Ontario, Canada.
"The initiation of the ESG process was a crucial aspect of Red Pine's vision, as we commit ourselves to operating responsibly and remain accountable to the highest environmental, social and governance standards,” Quentin Yarie, president and CEO of Red Pine Exploration said in a statement. “The company is proud of its substantial first efforts to disclose our practices and performance in ESG in a formal context as we continue to competently advance our exploration program at the Wawa Gold Project."
The company's flagship Wawa Gold project is spread over 6,986 hectares and hosts several former mines with a combined historic production of 120,000 ounces (oz) of gold. The Wawa property has Barrick Gold's Hemlo mine to the west and Newmont's Borden mine to the east - the two largest gold producers in the world. The project also has other successful neighbors like Alamos Gold and Argonaut Gold.
READ: Red Pine says its Phase 1 exploration on the Wawa gold project in Ontario is progressing “faster than planned”
Red Pine's ESG report, available on the company’s website, serves as a valuable tool for investors and stakeholders and focuses on sustainable reporting, enhancing the company’s relations with the community and indigenous partners.
Among the highlights of the report are:
- Red Pine is currently involved in surface water monitoring in the Parkhill and Darwin-Grace areas of the property for any run-off that may enter Trout Creek or eventually into the Michipicoten River system
- Red Pine has a mutually agreed upon consultation process to identify adverse impacts to aboriginal and treaty rights, and engage with respect to accommodation, with an aim to establish a mutually beneficial, positive, and productive relationship
- The company's objective is to develop a mutually beneficial and respectful relationship with local communities within the direct area of interest of the mineral concessions in Wawa
- Red Pine is currently in the process of completing a mine closure plan. Under this plan, the company is in the monitoring stage of vegetation and lake biodiversity. The current Wawa Gold Project is a brownfield site with 8 historic gold mines on the property dating back to the late 1800's
The company also said it has retained Hybrid Financial Ltd to provide marketing, promoting market and brand awareness for Red Pine and to broaden its reach within the investment community. The contract runs for an initial 12-month period to be renewed automatically for successive 6-month periods.
And Red Pine said it has engaged Haywood Securities Inc as a market-making service to aid in maintaining an orderly trading market for the common shares of the company, for an initial term of 12 months, subject to earlier termination. Haywood will provide market stabilization and liquidity services in respect of Red Pine's listed securities.
Contact the author at jon.hopkins@proactiveinvestors.com