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From the Wires
Red Pine Stakes Additional Claims, Increases Area of Wawa Gold Project
By: Marketwired .
Feb. 17, 2017 11:08 AM
TORONTO, ONTARIO -- (Marketwired) -- 02/17/17 -- Red Pine Exploration Inc. (TSX VENTURE: RPX) ("Red Pine" or "the Company") announces that it has staked an additional 194 hectares adjacent to its Wawa Gold Project, bringing its total land package to 5,373 hectares (Figure 1).
The staked ground appears to be an extension of the structure hosting the Golden Reed Mine which operated in 1907 and 1908 (calculated grade of production of 2.3 oz/ton - 78.66 g/t gold(1)). Exploration work conducted in the 1990's identified gold-bearing veins in the area. A grab sample taken from a three foot wide quartz vein contained 31.12 g/t gold(2) and a sample with 8.676 g/t gold(3) appears to show that the gold is hosted in a shear zone.
Quentin Yarie, President and CEO of Red Pine, stated, "We are pleased to have this additional area staked. We believe that the Golden Reed Mine is possibly located along a shear zone similar to the Wawa Gold Corridor. Our newly staked area may be located within its extension and there is potential for additional gold mineralization in the area."
Figure 1. Location map of newly staked ground is available at the following address: http://media3.marketwire.com/docs/1086249_fig1.pdf
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 60% interest in the Wawa Gold Project with Citabar LLP. holding the remaining 40% 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
(2)Report of a 1993 Work Program on the Golden Reed Prospect, McMurray Township, Ontario, Joan M. Barry, January 1994
(3)Summary report -Firesand Carbonatite Diamondiferous Study, Geological, Magnetics, Electromagnetics. Backhoe Bulk Testing, Lastheels A McMurray Townships. Northern Ontario, NTS-42C/2, F.T. Archibald, May 1999.
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.
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