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Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee Shear
TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. ( TSXV: RPX, OTCQB: RDE...
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[{"type":"text","content":"Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee ShearInitial near-surface drilling intersects wide zone of alteration containing 14.51 g/t Au over 4.81 m including 90.40 g/t Au over 0.67 m\n\n\n\n TORONTO, May 12, 2025 (GLOBE NEWSWIRE) --\n \n Red Pine Exploration Inc.\n \n (\n \n TSXV: RPX, OTCQB: RDEXF\n \n ) (“\n \n Red Pine\n \n ” or the “\n \n Company\n \n ”) is pleased to announce initial results of its near-surface drilling program focused on evaluating the potential of an open pit operation in two areas of the Jubilee Shear (See press release announced May 8, 2025). This drilling is a portion of the ongoing, fully funded 25,000 metres (\"m\") drill program at the Wawa Gold Project, Ontario.\n \n\n\n Highlights\n \n\n\n\n Near-surface intersection of 14.51 grams per tonne (\"g/t\") gold (\"Au\") over 4.81 m, including 90.40 g/t Au over 0.67 m, at the edge of the 2024 Mineral Resource Estimate\n \n 1\n \n (the “\n \n 2024 MRE\n \n ”) within an area for consideration for a potential open-pit operation;\n \n\n More than 14 drill holes are ongoing in the shallow part of the Jubilee Shear with results pending;\n \n\n\n\n Several high-grade gold intersections > 5.00 g/t Au at depth in the Jubilee Shear located hundreds of meters away from the 2024 MRE, are indicative of the potential for future growth to the mineral resource.\n \n\n Drilling at depth continues to identify key geological vectors towards potential zones of strong gold mineralization in the Jubilee Shear:\n \n\n Includes the identification of a new gabbro dyke interpreted to represent a key geological control on the Jubilee Shear at depths similar to the gabbro dykes controlling the distribution of gold mineralization near surface; and\n \n\n Outlines new exploration targets at depths in the Jubilee Shear in the Cooper Mine area.\n \n\n\n\n The focus of the drilling is to build out the near surface resource to complete an updated MRE and a Preliminary Economic Assessment by H1 2026.\n \n\n\n Michael Michaud, President and CEO of Red Pine commented: “We are excited that our initial near-surface drilling has already intersected wide zones of alteration, quartz veining and significant gold grades. This drilling is designed to not only improve our confidence...