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Red Pine Exploration Announces Significantly Increased Mineral Resource for the Wawa Gold Project
TORONTO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) announces an updated independent Mi
About this update from Rpx Gold Inc.
[{"type":"text","content":" TORONTO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) (“Red Pine” or the “Company”) announces an updated independent Mineral Resource Estimate (“MRE”), inclusive of an open pit and underground Mineral Resource, prepared by WSP Canada Inc. (“WSP”) for the Company’s 100% owned Wawa Gold Project in Ontario. Highlights (Table 1 and Figures 1 to 2) The updated MRE has added significantly to the previous 2019 MRE, with an Indicated Mineral Resource of 14.7 million (“M”) tonnes grading 1.8 grams per tonne gold (“g/t Au”) containing 842,000 ounces of gold and an Inferred Mineral Resource of 16.2 M tonnes grading 1.6 g/t Au containing 843,000 ounces of gold, inclusive of both open pit and underground: Open Pit: Indicated Mineral Resource of 14.3 M tonnes grading 1.7 g/t Au containing 794,000 ounces of gold for the Jubilee deposit; and Inferred Mineral Resource of 14.7 M tonnes grading 1.4 g/t Au containing 665,000 ounces of gold. Underground: Indicated Mineral Resource of 299,000 tonnes grading 5.0 g/t Au containing 48,000 ounces of gold (including the Jubilee and Minto deposits); and Inferred Mineral Resource of 1.5 M tonnes grading 3.8 g/t Au containing 179,000 ounces of gold. The open pit Mineral Resource is constrained within a pit shell above a 0.40 g/t Au cut-off and the underground Mineral Resource is constrained above a 2.0 g/t Au cut-off for Jubilee and 2.4 g/t Au cut-off for Minto. The deposit is highlighted by continuous gold mineralization starting from surface and extending up to 1,200 metres down dip thus providing optionality for potential future open pit and underground development scenarios: High-grade mineralization will be the focus of the near-term exploration program, specifically the down dip and down plunge extensions of the Jubilee and Minto deposits as part of an underground mining scenario. The updated MRE shows clear potential for expansion of lower grade mineralization located in the hanging wall of the Jubilee Shear and in the northern extension of the Jubilee Shear that would occur within an open pit scenario. The updated MRE comprises a small portion of the Company’s land holdings and there remain numerous historic zones and high priority targets elsewhere on the Wawa Gold Project property. Michael Michaud, President and CEO of Red Pine commented: “We are thrilled t...