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Red Pine Exploration Inc. Announces New Mineral Resource Estimate for the Surluga Gold Deposit at its Wawa Gold Project, Ontario
TORONTO, June 13, 2019 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") announces an updated Mineral Resource estimate c
About this update from Rpx Gold Inc.
[{"type":"text","content":" TORONTO, June 13, 2019 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX-V: RPX) (\"Red Pine\" or the \"Company\") announces an updated Mineral Resource estimate conducted by Golder Associates Ltd. (“Golder”) for the Company’s Surluga Deposit at the Wawa Gold Project located near Wawa, Ontario. The new Mineral Resource estimate was evaluated for an underground mining scenario and is reported at a 2.7 g/t cut-off within a 2 g/t envelope, and now stands at 1,202,000 tonnes at 5.31 g/t for 205,000 ounces gold in the Indicated category and 2,362,000 tonnes at 5.22 g/t for 396,000 ounces gold in the Inferred category. The 2015 NI 43-101 Mineral Resource estimate for the Surluga Deposit was an Inferred resource of 19,820,000 tonnes at 1.71 g/t using a 0.40 g/t cut-off (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc., May 26, 2015). This new underground resource represents a significant increase in grade, quality and continuity of the gold zones at Surluga and a shift from an open-pit development plan to a high-grade underground model. Golder’s new technical report will include both Mineral Resource estimates identified, to date, on the Wawa Gold Project – the updated Surluga Deposit noted above, and the previously reported NI 43-101 Minto Mine South Deposit (105,000 tonnes at 7.5 g/t gold in the Indicated category for 25,000 ounces of gold and 354,000 tonnes at 6.6 g/t gold in the Inferred category for 75,000 ounces of gold, Initial Technical Report for the Minto Mine South Property, Golder Associates Ltd., effective Nov. 7, 2018). The technical report will be filed on SEDAR within 45 days of this press release. Highlights of Golder’s Mineral Resource estimates include: The combined Minto Mine South and Surluga deposits contain 1,307,000 tonnes @ 5.47 g/t gold for 230,000 ounces of gold in the Indicated Category; The combined Minto Mine South and Surluga deposits contain 2,716,000 tonnes @ 5.39 g/t gold for 471,000 ounces of gold in the Inferred Category; Over 95% of the contained ounces at both deposits are located between surface and 350 metres depth; Both deposits remain open at depth; and The underground developments of the historic Jubilee and Surluga mines provide access to the zones of the Surluga resource. Quentin Yarie, President and Chief Executi...