Red Pine Drilling Intersects 7.76 g/t Gold Over 15.49 m in Potential Open Pit Area & Commences Updated Independent Resource Estimate
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Figure 1 – Longitudinal view of the Jubilee shear showing the recent drilling results.
TORONTO--( BUSINESS WIRE)--Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) is pleased to announce additional results from the recent near surface drilling program designed to better define gold mineralization in the area of a potential open pit at the Wawa Gold Project (See Press Release dated May 8, 2025).
Michael Michaud, President and CEO of Red Pine commented: “We are excited by these near surface drill results that continue to identify higher grades within the Jubilee Shear Zone."
Share Drilling Highlights (Table 1 and Figure 1)
- 7.76 grams per tonne (“g/t”) gold (“Au”) over 15.49 metres (“m”) core length, including 84.20 g/t Au over 1.00 m in hole SD-25-573
- 3.43 g/t Au over 9.63 m, including 9.77 g/t Au over 3.00 m in hole SD-25-574
- 5.37 g/t Au over 8.85 m, including 25.90 g/t gold over 1.03 m in hole SD-25-587
- 3.75 g/t Au over 7.63 m, including 8.95 g/t Au over 2.73 m in hole SD-25-589
- Previous intersections from the same area include:
- 4.42 g/t Au over 18.99 m, including 40.20 g/t Au over 1.02 m in hole SD-17-172
- 3.08 g/t Au over 16.72 m, including 40.20 g/t Au over 1.00 m in hole SD-24-520
- 65.60 g/t Au over 1.12 m in hole SD-24-521
- 9.03 g/t Au over 14.00 m, including 54.40 g/t Au over 2.00 m in hole SD-25-581
Michael Michaud, President and CEO of Red Pine commented: “We are excited by these near surface drill results that continue to identify higher grades within the Jubilee Shear Zone. With the drilling for the updated mineral resource estimate now completed, we are moving forward to completing a preliminary economic assessment (“PEA”) in the first half of 2026.
At the same time, metallurgical, geotechnical, and baseline work is underway to support permitting. Our next drill phase to further expand near-surface gold mineralization is set to begin shortly.
With funding in place to complete the PEA, we are on track in our work to unlock significant value as we advance toward production and transition from explorer to producer in today’s strong gold price environment.”
Drilling Program
Red Pine recently completed its diamond drilling program comprised of 69 drill holes for 24,531.19 m, that commenced in November 2024. A total of 14 drill holes aggregating to 2,533.10 m of drilling are included in this release (Figure 1). The Company has now received all of the gold assay results for an updated independent mineral resource estimate currently underway by WSP Canadal Inc. and to be disclosed in the pending PEA.
Table 1 Recent drilling results from the 2024-2025 drilling program
Hole
(#)
| From
(m)
| To
(m)
| Length
(m)*
| Gold
(g/t)
| Zone
(name)
| SD-25-565
| 27.96
| 33.50
| 5.54
| 2.30
| HW – Vein Network
| Including
| 33.00
| 33.50
| 0.50
| 11.20
|
| SD-25-567
| 153.00
| 158.10
| 5.10
| 2.03
| Jubilee Shear - Main
| Including
| 154.20
| 154.83
| 0.63
| 8.40
|
| SD-25-568
| 40.00
| 47.00
| 7.00
| 1.72
| Jubilee Shear - Main
| SD-25-572
| 68.02
| 75.18
| 7.16
| 2.61
| Jubilee Shear - Main
| SD-25-573
| 11.44
| 12.12
| 0.68
| 2.50
| HW – Vein Network
|
| 85.00
| 100.49
| 15.49
| 7.76
| Jubilee Shear - Main
| Including
| 93.00
| 94.00
| 1.00
| 84.20
|
| SD-25-574
| 152.00
| 161.63
| 9.63
| 3.43
|
| Including
| 152.00
| 155.00
| 3.00
| 9.77
|
| SD-25-575
| 103.42
| 106.00
| 2.58
| 1.66
| Jubilee Shear - Lower
| SD-25-578
| 86.53
| 92.68
| 5.12
| 0.65
| Jubilee Shear - Main
| SD-25-580
| 96.20
| 112.18
| 15.98
| 1.99
| Jubilee Shear - Main
| Including
| 108.74
| 112.18
| 3.44
| 7.04
|
| SD-25-585
| 130.00
| 135.00
| 5.00
| 0.95
| Jubilee Shear - Main
| SD-25-587
| 155.03
| 163.88
| 8.85
| 5.37
| Jubilee Shear - Main
| Including
| 160.16
| 161.19
| 1.03
| 25.80
|
| SD-25-589
| 85.54
| 93.17
| 7.63
| 3.75
| Jubilee Shear - Main
| Including
| 87.97
| 90.70
| 2.73
| 8.95
|
|
*Intercepts are calculated using a 0.40 g/t Au cut-off and a maximum of 6.0 m of internal dilution with no capping applied and are reported over core lengths. True widths are estimated to vary between 70 to 95% of the reported core length in the Jubilee Shear.
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.
Table 2 – Drill hole location details
Hole
(#)
| UTM E
(m)
| UTM N
(m)
| Elevation
(masl)
| Azimuth
(°)
| Inclination
(°)
| Length
(m)
| Assays Status
| SD-25-565
| 668411
| 5317357
| 387.5
| 335.0
| 63.1
| 177.0
| Complete
| SD-25-567
| 668447
| 5317314
| 390.7
| 297.8
| 44.9
| 255.0
| Complete
| SD-25-568
| 668094
| 5316469
| 354.1
| 285.1
| 45.1
| 115.0
| Complete
| SD-25-572
| 668081
| 5316391
| 357.0
| 294.9
| 46.1
| 141.0
| Complete
| SD-25-573
| 668169
| 5316493
| 367.5
| 309.7
| 53.0
| 135.0
| Complete
| SD-25-574
| 668263
| 5316411
| 373.1
| 287.1
| 48.6
| 183.0
| Complete
| SD-25-575
| 668086
| 5316389
| 356.4
| 324.9
| 70.1
| 132.0
| Complete
| SD-25-577
| 668224
| 5316471
| 379.8
| 292.1
| 51.6
| 137.3
| Complete
| SD-25-578
| 668047
| 5316245
| 383.0
| 309.9
| 45.0
| 171.0
| Complete
| SD-25-580
| 668107
| 5316316
| 376.2
| 317.2
| 61.9
| 160.7
| Complete
| SD-25-584
| 668206
| 5316528
| 379.5
| 343.0
| 55.0
| 264.0
| Complete
| SD-25-585
| 668164
| 5316320
| 372.9
| 310.2
| 51.1
| 204.0
| Complete
| SD-25-587
| 668256
| 5316344
| 370.9
| 290.1
| 55.0
| 225.0
| Complete
| SD-25-589
| 668216
| 5316594
| 369.5
| 300.0
| 45.1
| 233.1
| Complete
|
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 completing a PEA in the first half of 2026; the next drill phase to further expand near-surface gold mineralization beginning shortly; and the Company being on track to unlock significant value as it advances toward production and transitions from explorer to producer. . 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 year ended July 31, 2024, 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
Manish Grigo, Director of Corporate Development, at (416) 569-3292 or mgrigo@redpineexp.com |
