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Augustine Ventures Continues to Discover Gold in the Unsampled Historic Core of the Surluga Deposit
TORONTO, ON / ACCESSWIRE / January 19, 2017 / The Joint Venture (JV) with Augustine Ventures...
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[{"type":"text","content":"Augustine Ventures Continues to Discover Gold in the Unsampled Historic Core of the Surluga DepositTORONTO, ON / ACCESSWIRE / January 19, 2017 / The Joint Venture (JV) with Augustine Ventures Inc. (CNSX: WAW) (OTC PINK: AUGUF) (\"Augustine\"), Red Pine Exploration Inc. (TSX-V: RPX) (\"Red Pine\"), and Citabar LLP has received results for holes sampled as part of its on-going sampling program of historic core at its Wawa Gold Project. The JV is also currently drilling as part of its on-going exploration program in the northern extension of the Surluga Deposit (see Figure 1 and refer to the news release of December 7, 2016). \nNew results from the sampling program include: \n\n 1.51 g/t gold over 59.3 metres in the Surluga Deposit in S247 (calculated true thickness) and 1.75 g/t gold over 47.46 metres (calculated true thickness); and \n An increase in the gold metal factor (sum of individual intercepts' gold grade times length) for 15 of the 27 sampled holes, and an average increase of the intersection length in 9 of the 25 holes (see Table 1). \n\nNew results from the on-going drilling program include: \n\n Evidence of folding of the Jubilee Shear Zone in SD-17-46 (59 metres calculated true thickness) and in SD-17-47 (108 metres calculated true thickness). \n\nQuentin Yarie, President and Chief Executive Officer of Red Pine states, \"55% of the sampled historic holes have returned additional gold, including material containing up to 4.96 g/t gold over 1.52 metre. This provides additional evidence that higher grade material was left un-sampled in the historic holes by the previous operators. Also, the intersection of two zones of thickening of the Jubilee Shear Zone, in the northern extension of the Surluga Deposit tells us that the gold-bearing structure may retain its thickness to the north and that it could host broad zones of gold mineralization.\"\nBob Dodds, President and CEO of Augustine, states, \"The extension and additional characterization of the Jubilee Shear Zone (which hosts the Surluga Deposit1) and the Hornblende Shear Zone (a parallel gold bearing structure that may be equal to the Jubilee Shear Zone) supports our confidence that Wawa Gold Corridor could prove to host more gold resources.\"\nImage: https://www.accesswire.com/uploads/Augustine_1.19.2017.jpg\nFigure 1 - Overview of the historic drill holes with weig...