Red Pine Initiates Near-Surface Definition Drilling as Preliminary Economic Assessment Progresses at Wawa Gold Project
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TORONTO--( BUSINESS WIRE)--Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce the commencement of a 9,000 metre (“m”) drilling program to better define gold mineralization at surface and collect samples for additional environmental, metallurgy and geotechnical analysis at the Wawa Gold Project as part of the ongoing Preliminary Economic Assessment (“PEA”) and potential future development.
We are pleased with the ongoing progress we have made towards completing a PEA for the Wawa Gold Project
Share Michael Michaud, President and CEO of Red Pine commented: “We are pleased with the ongoing progress we have made towards completing a PEA for the Wawa Gold Project. Given our confidence in a positive outcome, we have commenced a fully funded drilling program to further define the higher-grade, near-surface gold mineralization. This drilling program will also allow us to collect additional samples for environmental, metallurgical and geotechnical analysis to assess potential mining and processing opportunities. We anticipate releasing consistent news flow from the ongoing drilling program, as well as the surface trenching program commenced several weeks ago, and on other project advancements over the coming months. We remain on track to complete the PEA in the first half of 2026.”
Drilling Program in Areas of Open-Pit Potential
Building on the drilling results from the 2025 program and from prior campaigns, the Company has now outlined priority areas for a potential open-pit along the Jubilee Shear that will be considered as part of the PEA.
In the priority areas identified, the new drilling program plans to:
- test the crown pillar of the former Jubilee and Surluga Mines where it was not tested in prior drilling programs;
- test infill areas covered by historical drilling solely for grade validation and metallurgical purposes, and
- test the margins of several of the new high-grade mineralization areas discovered in 2025.
Quality Assurance/Quality Control ("QA/QC") Measures
Individual drill core samples are labelled and sawn in half along a pre-marked cutting line. A consistent half-core sample is then placed in an individual numbered plastic sample bag that is sealed. The remaining half-core samples are kept at the Company’s core storage facility located on the Wawa Gold project. Quarter-core duplicates are taken from certain samples to define the variability of gold distribution. Groups of samples are then placed into durable rice bags sealed with security seals to be transported by commercial carrier for analysis at Activation Laboratories Ltd. (Actlabs), Ancaster, Ontario. NQ core assays are obtained by 50-gram fire-assay with a AA finish or by 1-kilogram metallic screen fire assay. The 1-kilogram metallic screen assay method is selected for samples anticipated to contain coarse gold and when the original fire-assay returns results greater or equal to 2.25 g/t Au. The residual coarse reject portions of the samples remain in storage for a minimum 90-day period if further work or verification is needed.
As part of its QA/QC program, Red Pine inserts external gold standards (low- to high-grade) and blanks every 20 samples and routinely inserts blanks immediately after samples with visible gold. Quarter core duplicates are routinely inserted to evaluate the natural variability of gold mineralization. Assay certificates are sent to at least three members of the senior management team, and they are directly accessible from the WebLIMS portal of Actlabs. Approximately 5% of the pulps and coarse rejects analyzed at Actlabs are sent to Agat Laboratories in Thunder Bay for umpire testing.
Qualified Person
Jean-Francois Montreuil, P.Geo. and Vice President, Exploration of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol “RDEXF”.
The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario, a region that has seen major investment by several producers in the last five years. The Company’s land package hosts numerous historic gold mines and is over 7,000 hectares in size. Red Pine is building a strong position as a major mineral exploration and development player in the Michipicoten region.
For more information about the Company, visit www.redpineexp.com
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance.
Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information contained in this news release includes, but may not be limited to, statements regarding the drilling program better defining gold mineralization at surface and allowing for the collection of samples for additional environmental, metallurgical and geotechnical analysis; the Company’s confidence in a positive outcome; the Company anticipating releasing consistent news flow over the coming months; completion of the PEA in the first half of 2026; and the goals of the drilling program. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance.
This information contained in this news release is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company, including the Company’s financial statements and related MD&A for the years ended July 31, 2024 and July 31, 2025, and the interim financial reports and related MD&A for the period ended January 31, 2024, April 30, 2024, October 31, 2024, January 31, 2025 and April 30, 2025, filed with the securities’ regulatory authorities in certain provinces of Canada and available at www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Contacts
Michael Michaud, President and Chief Executive Officer, at (416) 364-7024 or mmichaud@redpineexp.com
Or
Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@redpineexp.com |
