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Augustine and Its JV Partners Initiate Program to Update Inferred Resource, Wawa Gold Project, Wawa Ontario
TORONTO, ON / ACCESSWIRE / February 11, 2016 / The Joint Venture (JV) of Augustine Ventures ...
About this update from Rpx Gold Inc.
[{"type":"text","content":"Augustine and Its JV Partners Initiate Program to Update Inferred Resource, Wawa Gold Project, Wawa OntarioTORONTO, ON / ACCESSWIRE / February 11, 2016 / The Joint Venture (JV) of Augustine Ventures Inc. (CSE: WAW) (\"Augustine\"), Red Pine Exploration Inc. (TSX-V: RPX) (\"Red Pine,\" Manager of the JV, and Citabar LLP (\"Citabar\") will mobilize this week to begin the process of logging/sampling of over 42,000 m of historic core. The historic core library available on-site will be a key element to define additional gold resources in the Wawa Gold Corridor and will save the JV an estimated $4.2 million of drilling costs. The core is primarily from holes drilled into the Surluga Deposit, with little to no sampling in the areas outside the Jubilee Shear Zone that contains the entirety of the inferred resource(1). The program will sample known and newly identified gold bearing intersections in the hanging wall material of the Surluga Deposit with the intent of adding these to the existing inferred resource(1) (Figure 1).\nDr. Robert (Bob) Dodds, CEO of Augustine, states, \"We have always known that the extensive drilling work carried out on our Wawa Gold Project in the past and the well preserved historic core was one of many assets that made this property so desirable. The historic core re-logging and sampling has several goals: increase the number of ounces in the gold resource, lower the strip ratio in the resource estimate and extend information on mineralized zones in the Wawa Gold Corridor. In addition to this historic core re-logging and sampling, work is continuing on conceptual studies and data collection on alternative power sources, social license, ore sorting technology and the environmental data base. All of these initiatives serve to continue to increase the value of the property.\"\nHistoric Core Sampling Program \nDuring its Fall 2015 exploration program, the Company amalgamated approximately 42,000 metres of drilling from 318 underground and 119 surface drill holes drilled in the Wawa Gold Corridor. This extensive core library will be progressively described and selectively sampled to extend or define additional gold zones in the footwall and hanging wall of the Surluga Deposit, and to extend some gold zones of the Surluga Deposit that were not entirely sampled in the past.\n As an example, Table 1 is a list of his...