Red Pine Exploration Inc (TSX-V:RPX, OTCQB:RDEXF) has posted more drill results from its flagship Wawa gold property in Ontario, which augur well for expanding the resource and future exploration.
The latest assays come from this year's Phase 1 exploration program and include high-grade finds in the up-dip extension of the Sadowski zone and more good grades at the down plunge extension of the Surluga deposit in the North.
"The discovery of higher-grade gold intersections down plunge of the Surluga resource and the Sadowski Zone as well as the extension of the Jubilee shear > 2kms south of the Parkhill fault are causing a re-evaluation of the identified exploration targets," said Quentin Yarie, the CEO of Red Pine, in a statement.
"At that time, we identified contained ounces in the combined exploration targets ranging from 0.725 M oz to 3 M oz between 4-10 g/t. With our current intersections and higher-grade discoveries in 2021 to now, it appears we were conservative on our grade range."
READ: Red Pine Exploration posts more positive drill results from Wawa gold project, Ontario
At Surlaga south, highlights included 52.12 grams per ton (g/t) gold over 2.29 metres (m) from 16.51m depth in one hole, including 162.52 g/t of the precious metal over 0.30m starting from 18.07m depth.
The Sadowski vein network has now been traced over a strike length of 100m and to a vertical depth of 85m and remains open to the north and at depth.
At Surluga North, another hole hit significant gold in the Jubilee Shear Zone, 260m down-dip of the current resource. Highlights included 24.9 g/t gold over a length of 0.97m, starting from 339.53m.
Updating on exploration progress, Red Pine said it was continuing to test the under-explored segment of the Jubilee Shear Zone south of the Parkhill fault and has now completed six holes with assays pending.
These holes cover 275m of strike along the southern segment of the Jubilee. A zone of strong quartz veining associated with sulfide mineralization, varying in width between 4 and 10m, is being consistently observed in the six holes completed in the upper part of the Jubilee shear zone, the company noted.
Red Pine'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