Red Pine Exploration Inc (TSX-V:RPX, OTCQB:RDEXF) has reported encouraging drill results from the Darwin-Grace mine of its flagship Wawa property in Ontario, which shows the potential of the past-producing area.
Three major structures have been identified in the area, each with potential to host gold mineralization. These are the Grace shear zone, the Nyman shear zone and a yet-to-be-named zone.
One hole hit 11.47 grams per ton (g/t) gold over a length of 2.73 metres (m) starting from a depth of 76.67m at the edge of drilling in the Nyman Shear Zone area, which supports the theory that gold mined in the lower levels of the former mine could extend close to surface, said the company.
"The Darwin-Grace area has remained a target of interest for us since 2017 when 6 holes were drilled, all intersecting shallow gold mineralization of up to 57 g/t over 2.34 meters in hole DG-17-56," said Quentin Yarie, CEO of Red Pine Exploration in a statement.
READ: Red Pine Exploration has an attractive project and successful neighbors in Ontario's Michipicoten greenstone belt
"We have budgeted a portion of this years Phase 1 exploration program to follow up on these successes. The potential of the Darwin-Grace area to host high-grade gold mineralization is well known with historical operations averaging over 11 g/t in 1934 (40 tonnes/day) with one vein averaging 571 oz/tonne from the 900 ft mark," the CEO added.
Other highlight results from the hole in the Nyman Shear Zone included 23.80 g/t gold over 0.83m from 78.57m depth.
The firm's Wawa property, a brownfield site, covers nearly 7,000 hectares (Ha) and hosts several former mines with historic production of a combined 120,000 ounces (oz) of gold.
It also already hosts NI-43 101 compliant 700,000 indicated and inferred ounces across the Surluga and Minto mine south deposits at a grade of at least 5 g/t. In terms of location, it 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.
Contact the writer at giles@proactiveinvestors.com