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Red Pine Exploration Inc.
Summary
| Project: | Wawa | |
|---|---|---|
| Deposit: | Surlaga, Minto Mine | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-1-2019: Red Pine Exploration Inc. announces an Exploration/Drilling Update report for its Surlaga, Minto Mine deposit at the Wawa project. Drilling results incl. 5.1m @ 11.95g/t Au from 177.3m. The Minto Mine South Deposit and the Surluga Deposit are j | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Quentin Yarie (Internal) | |
| ABSTRACT: | The Minto Mine South Deposit and the Surluga Deposit are just two of the known deposits on the large 5,568 hectares Wawa Gold Project located near Wawa, ON, Canada. Red Pine’s infill drilling results continue to support the potential for a higher-grade underground resource, accessible using the existing underground infrastructure of the Surluga Mine. The Company is on track to deliver a revised NI 43-101 resource estimate for the Surluga Deposit in April 2019. Red Pine has a working capital of $2 million in cash and zero debt (Oct. 31, 2018 financials) and recently raised over $3.6M in a non-brokered private placement financing (Dec. 28, 2018). The Company will. Quentin Yarie, President and Chief Executive Officer of Red Pine, stated, "The latest results continue to validate our model of a high-grade resource at the Surluga Deposit. Assay results for another 42 holes that were completed as part of this first phase of infill drilling are still pending and we expect results to fall in line with what we’ve observed so far. Indicators such as visible gold or arsenopyrite, typically associated with zones of stronger gold mineralization in the Surluga Deposit, were observed in many of the pending holes. We’ve developed a good understanding of the formation and geometry of the highgrade mineralization zones at the Wawa Gold Project and this will continue to guide us as we further develop the Project.” | |
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