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ESTIMATED NI43-101 RESOURCE OF 1,307,000 TONNES @ 5.47 g/t GOLD FOR 230,000 OUNCES IN THE INDICATED CATEGORY

2,716,000 TONNES @ 5.39 g/t GOLD FOR 471,000 OUNCES IN THE INFERRED CATEGORY

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6,986 HECTARES OF MINING CONCESSION AREA LOCATED IN WAWA

FLAGSHIP 100% OWNED WAWA GOLD PROJECT LOCATED 2 KM SOUTHEAST OF WAWA, NORTHERN ONTARIO

 

TWO MINERAL DEPOSITS; Surluga and Minto Mine South 

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Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB markets under "RDEXF". The Company is engaged in the acquisition and exploration of early stage exploration prospects in areas that have excellent potential for world-class mineral deposit discovery. Red Pine strives to increase shareholder value through exploration discoveries on 100% owned projects. The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is 6,986 hectares in size.  Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region. 

Targeted Commodity: Gold
Property Size and Position:

167 patents / leases and 301 mining claims totalling 6,986 hectares within the McMurray Township, 2 km southeast of the Town of Wawa, Ontario.

Ехploration History:

The property has hosted numerous gold mines with historic production of over 120,000 ounces. To date, the largest gold deposit on the property is the Surluga Deposit.

Historically, more than 87,000 metres have been drilled on the property. At the Surluga Deposit, 252 surface holes totalling 45,346 metres and 1,339 underground holes totalling  41,753 metres.

While the property hosted numerous historical gold mines, these were owned by different operators and they were never geologically connected. With a comprehensive examination of the geology, geophysics, geochemistry, alteration mineralogy and structural geology, Red Pine has uncovered new targets.

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Image by Bhautik Andhariya
Mineralization Potential:

Red Pine previously issued a 43-101 technical report for the Wawa Gold Project that includes over 700,000 ounces gold for the Surluga Deposit and the Minto Mine South Deposit combined, at an average grade of > 5 g/t (both Indicated and Inferred) (May 31, 2019). Both resources are accessible using existing historical underground infrastructure and both appear to be open along strike and at depth. 95% of the current resource is contained between surface and 350 metres depth.

In addition to the two (2) deposits currently identified on the property (the Surluga Deposit and the Minto Mine South Deposit),  Red Pine has identified six additional exploration targets, along a gold-mineralization corridor that extends for more than 6 km (the Wawa Gold Corridor). 

Red Pine is now ready to execute a strategic drill program designed to expand the existing NI 43-101 mineral resources and to explore the multiple additional highly prospective targets on the property. An estimated 25,000 metres of diamond drilling is planned in 2022.

Wawa Project Highlights, including 2021 Drill Program Results:

  • 100% ownership (consolidated from 63.31%)

  • Two mineral deposits (Surluga and Minto Mine South) with currently estimated NI 43-101 resource of 1,307,000 tonnes @ 5.47 g/t gold for 230,000 ounces in the indicated category and 2,716,000 tonnes @ 5.39 g/t gold for 471,000 ounces in the inferred category1

  • Resource principally located between the surface and 300 metres vertical depth

  • Discovery of higher-grade mineralization in the Jubilee Shear Zone (host of the Surluga Deposit) down plunge of the existing resource

  • Drilling identified six (6) high-grade gold exploration targets that could grow the current resource: Hornblende, Minto B, Grace/Nyman, Minto Mine South, Parkhill #4 shear zones and the near surface high-grade Sadowski Gold Zone, a new mineralized zone with intersection of 24.8 g/t gold over 1.15 meters, and intersection of 13.95 g/t gold over 4.48 metres core length (CL) including 29.29 g/t gold over 2.02 metres (CL)

  • The extension of the Minto Structure with findings of 109.37g/t over 2.68 meters true width “TW”, which is the best intersection to date in the Minto Vein

  • Gold mineralization extended to depth in the Jubilee Shear Zone over 550 meters vertical depth

  • Down plunge drilling in the Surluga South Discovery produced significantly higher grades with an intersect in the Jubilee Shear Zone at 25.73 g/t gold over 4.78 meters true width “TW”

  • The extension of the Surluga South discovery over 500 meters down-dip of the resource with 3.08 g/t gold over 55.66 meters true width “TW” in the Jubilee Shear Zone 

  • Intersected high-grade gold 400 metres down-plunge of the Surluga Deposit (>550 metres vertical depth), 4.66 g/t gold over 12.24 metres (TW) in the including 24.10 g/t gold over 0.68 metres (TW) and 14.68 g/t gold over 1.94 metres (TW)

  • Potential for additional high-grade gold targets in the extension of the Jubilee Shear Zone, south of the Parkhill Fault

"Our 2021 drill program has positively set the table for an expansion of the drilling program into 2022,” said Quentin Yarie, CEO and President of Red Pine Exploration. "As always, we take a holistic approach to our exploration programs and results will dictate and adjust this dynamic program. We also expect that this program, and the expected follow-on Phase 2 program, should put the Company in a position to consider an update of the resource in the future. The current NI 43-101(1) compliant resource contains 1,307,000 tonnes at 5.47 g/t gold for 230,000 ounces in the indicated category and 2,716,000 tonnes at 5.39 g/t gold for 471,000 ounces in the inferred category, with 90% contained in the upper 300 metres."

2022 Drilling and Exploration Program

Exploration plans include drilling approximately 25,000 meters in the next six months. The extensive drill program will be across its primary resources, Surluga and Minto Mine, proving depth extension as well as potential mineralization in high-priority greenfield targets. The 2022 drill program is funded by the $8.4 million flow-through share financing completed in November 2021. Approximately 60% of the program will focus on areas which have the potential to expand the current Surluga and Minto South resources.Approximately 40% of the program will focus on our priority Greenfield targets which were not tested in 2021: Grace-Darwin, Hornblende Shear Zone and the Sadowski Zone. As part of the Wawa Gold Project’s on-going drilling program, Red Pine is testing the northern and southern extensions of the Surluga Deposit, and the extension of the Minto Mine Deposit beyond the footprints of their respective resources. With four active drills on site, the on-going exploration program includes testing the southern and northern extensions of the Jubilee Shear Zone that hosts the Surluga Deposit and continues to indicate that significant zones of gold mineralization remain to be discovered down-dip and beyond the footprint of the existing resources. A recent press release dated January 21st, 2022 announced the discovery of significant mineralization 140 meters down-dip of the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear Zone. This new zone, starting at approximately 240 metres vertical depth and named the Surluga North Discovery, has the potential to further expand the current resource of the Surluga Deposit at the Wawa Gold Project. The Company will also test a number of exploration targets on the property that have the potential to be converted into resources as Red Pine continues to develop the project.

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Figure 1- Completed 2021 Drill Program

 

 

A review of historical data suggests that the Jubilee Shear Zone’s northern extension, where limited drilling has been conducted, could host undiscovered zones of high-grade mineralization less than 300 metres below the surface. Geological data recorded in certain boreholes at the edge of the structure’s current footprint suggests potential proximity to stronger mineralized zones. Results from the 2021 drilling program, in hole SD-21-308 discovered significant mineralization 140 m down-dip of the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear Zone. This new zone, starting at approximately 240 metres vertical depth and named the Surluga North Discovery, has the potential to expand the current resource of the Surluga Deposit at the Wawa Gold Project. 

 

“Our on-going exploration program testing the southern and northern extensions of the Jubilee Shear Zone continue to indicate that significant zones of gold mineralization remain to be discovered down-dip and beyond the footprint of the existing resources. Hole SD-21-308 opened a potential extension of gold mineralization beyond the current boundary of the Surluga Deposit resource which is less than 250 metres below surface. With four drills turning on-site our exploration program can now test in parallel the Surluga South and North discoveries and the Darwin-Grace-Nyman target.” –Quentin Yarie, President and CEO of Red Pine Exploration.

 

Drilling at the northern end of the Surluga Deposit

 

At the northern end of the Surluga Deposit, drilling indicated that the Jubilee Shear Zone extends down-dip of the current limit of the inferred resource. This is supported by the results from holes SD-21-299 and SD-21-301 that confirm the extension of gold mineralization in the Jubilee Shear Zone. The significant gold intersection in SD-21-308 further indicates that shallow and significant mineralization may be discovered in the unexplored Jubilee Shear Zone down-dip of the resource. Drilling in 2022 will continue to test the Jubilee Shear Zone to define the size and attributes of the zone discovered in SD-21-308 and will also test for other undiscovered zones of mineralization in that area.

 

Drilling in the Surluga South and Sadowski gold zones

 

At the southern end of the Surluga Deposit, holes SD-21-305A and SD-21-307 successfully intersected the Jubilee shear over 500 metres away from the boundary of the Surluga Resource. The southern drill rigs also continue to extend the footprints of the Minto Vein that is forming the Minto Mine Gold deposit. The Minto Vein, with variable intensity of mineralization, was successfully intersected in holes SD-21-309, 312A, 313 and 319. The assays for these Minto Vein intersections remain pending.

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Figure 2 - Drill Holes at Northern Extension of Surluga Resource

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Figure 3 - Drill Holes at Southern Extension of Surluga Resource