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Project: | Wawa | |
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Deposit: | Wawa | |
Location: | Canada | |
Commodities: | Gold | |
Date: | 12/7/2016 | |
Report Code: | NI43-101 | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Pursuing Resource Increase/Upgrade | |
Report details: | 7-12-2016: Augustine Ventures Inc. announces an Exploration/Drilling Update report for its Wawa deposit at the Wawa project. Drilling results incl. 45.08m @ 3.32g/t Au from 15.88m. Toronto, Ontario – December 7, 2016 –- The Joint Venture (JV) with Augusti | |
Resources: | (Resources, Inf.): 19.82Mt @ 1.71g/t Au containing 1.088Moz Au | |
CP/QP: | [Overall Report]: Quentin Yarie (Not Stated) | |
ABSTRACT: | Toronto, Ontario – December 7, 2016 –- The Joint Venture (JV) with Augustine Ventures Inc. (CSE: WAW or “Augustine”), Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine”), and Citabar LLP has completed two additional boreholes (SD-16-42 and SD-16-43) of its on-going Fall 2016 Drill Program. The JV has also received results from its program of sampling historic core at its Wawa Gold Project. Bob Dodds, President & CEO of Augustine, states “The extension of the Jubilee Shear Zone and the Hornblende Shear Zone (a parallel gold bearing structure that may prove to be equal to the Jubilee Shear Zone) a half kilometer to the north of our known resource3 is very gratifying. It supports our confidence in the geological model and our belief that the Wawa Gold Corridor could prove to host more gold resources” Quentin Yarie, President and Chief Executive Officer of Red Pine states, “We are excited to see that each new set of results from the sampling of historic core has a positive impact on the gold weighed average for some of the sampled holes. Again, these results indicate that significant gold remains to be identified in the current inferred resource pit model. The observation of visible gold2 in a new quartz vein network and in the Jubilee Shear Zone in hole SD-16-43 is exciting as it proves that the structure, host of the Surluga Deposit, and the associated gold system, extends at least 525 metres north of the current boundary of the inferred resource. We are also impressed by the thickness of the Hornblende Shear Zone as seen in holes SD-16-42 and SD-16-43, which further demonstrates the large size of this parallel gold-bearing structure." | |
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