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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

6,804 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 

Red Pine Exploration is focused on gold and base metal exploration in Northern Ontario, Canada. 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 and increases shareholders exposure for exploration success by forming option and joint venture partnerships with other companies.

Targeted Commodity: Gold
Property Size and Position:

167 patents / leases and 286 mining claims totalling 6,804 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.

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 15,000 metres of diamond drilling is planned in 2021 with the program continuing into 2022.

Wawa Project highlights

  • 100% ownership (recently 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

  • Preliminary drilling identified five (5) high-grade gold exploration targets that could grow the current resource: Hornblende, Minto B, Grace/Nyman, Minto Mine South and Parkhill # 4 shear zones

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

 

Quentin Yarie, President and CEO of Red Pine, stated, “After a great deal of work, we are happy to have consolidated Red Pine’s ownership of the Wawa Gold Project to 100%. Well funded, we are now set to resume our drilling and exploration programs and continue to grow the mineral resources on the property. Our earlier drill programs discovered mineralized zones beneath the Surluga Deposit and six other mineralized exploration targets adjacent to and beyond the current NI 43-101 resources.  The focus of our 2021 exploration program will be to expand Surluga at depth and test the other targets. We are very pleased to now be able to fully develop and realize value as we grow 100% of the Wawa Gold Project for Red Pine shareholders.”

2021 Drilling and Exploration Program

The main target for diamond drilling in 2021 will be the Jubilee Shear Zone, host of the Surluga Deposit NI 43-101 mineral resource. The resource extension and definition drilling program will test the higher-grade gold-bearing structures previously identified by Red Pine. 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.

Extension of the Surluga Deposit NI 43-101 Resource

 

The Company will prioritize the extension of the higher-grade gold mineralization zone discovered in 2020, 300 metres down-dip of the current Surluga Deposit resource which generally lies from near-surface to a depth of 300 meters. Drilling the Jubilee Shear Zone extension at depth will also test the westernmost down-dip extension of the Minto Mine South Shear Zone, host of the second known resource on the Wawa Gold Project – the Minto Mine South Deposit.

2020 diamond drilling highlights in the Jubilee Shear Zone (Figure 1):

  • 3.38 g/t gold over 13.3 m true width (“TW”), including 15.31 g/t gold over 1.64 m (SD-20-293)

  • 5.2 g/t gold over 6.31 m TW including 15.7 g/t gold over 1.07 m and 12.4 g/t gold over 0.78 m (SD-20-289)

  • 1.63 g/t gold over 23.34 m TW, including 17.32 g/t gold over 0.88 m and 14.72 g/t gold over 0.85 m (SD-20-292)

  • 2.06 g/t gold over 11.8 m TW, including 3.67 g/t over 1.03 m and 7.45 g/t gold over 0.84 m (SD-20-291)

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Figure 1- 2020 diamond drilling highlights in the Jubilee Shear Zone

 

 

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.

Targets beyond Surluga

The section below summarizes the exploration targets identified for further investigation.

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Figure 2 – Exploration targets that will be tested in 2021

 

 

Jubilee Shear Zone south of the Parkhill Fault

In 2019 and 2020, Red Pine’s mechanized stripping and mapping program on the Jubilee Shear Zone, south of the Parkhill Fault, indicated structural attributes comparable to those found north of the fault. Shallow historical drilling by Duraine Mines Ltd. in 1981 combined with Red Pine’s geological mapping and channel sampling indicated gold mineralization. Drilling in this underexplored extension of the structure could expand shallow gold mineralization in the Jubilee Shear Zone to a 2 km strike length.

Diamond drilling highlights in the southern extension of the Jubilee Shear Zone (source AFRI 41N15NE0055 for Duraine Mines drilling results):

  • 3.06 g/t gold over 2.70 m, including 41.14 g/t gold over 0.16 m (D81-02)

  • 6.95 g/t gold over 1.01 m, including 15.39 g/t gold over 0.45 m (D81-04)

  • 8.33 g/t gold over 1.34 m, including 24.34 g/t gold over 0.34 m (D81-08)

  • 3.99 g/t gold over 1.00 m (S302 – RPX 2019 historic core sampling)

 

Grace and Nyman Shear Zones

The Grace and Nyman shear systems, host of the historical Darwin-Grace Mine, will be targeted for the discovery of shallow high-grade gold mineralization. Red Pine’s 2017 drilling demonstrated that high-grade gold mineralization is still present outside the mine’s historic footprint and that mineralization in the Nyman vein extends at depth. Red Pine’s mechanized stripping and mapping programs located the Grace Shear Zone extension, 110 metres north of the northernmost underground development of the Darwin-Grace Mine. The 2021 drilling program will test this new area in the structure.

Red Pine’s diamond drilling highlights in the Grace and Nyman Shear Zones:

  • 42.22 g/t gold over 2.44 m, including 107.49 g/t gold over 0.54 m (DG-17-55 – Grace Shear Zone)

  • 57.31 g/t gold over 3.14 m, including 138 g/t gold over 1.11 m (DG-17-56 – Grace Shear Zone)

  • 10.1 g/t gold over 0.82 m (DG-17-66 – Nyman Shear Zone)

 

Hornblende Shear Zone

Red Pine’s diamond drilling in the Hornblende Shear Zone showed that gold mineralization, with potential zones of higher-grade mineralization, occurs over a strike length of at least 1.6 km. The largest zone of higher-grade mineralization, identified by historic drilling and confirmed by Red Pine’s drilling, occurs at the seventh level of the historical Surluga Mine. Red Pine’s drilling in the Hornblende Shear Zone also identified additional zones of broad mineralization with discrete zones of higher-grade mineralization in the structure.

Diamond drilling highlights in the Hornblende Shear Zone include:

  • 5.61 g/t gold over 8.5 m, including 15.42 g/t gold over 2.9 m (HS-15-31)

  • 2.91 g/t gold over 4.5 m, including 5.77 g/t gold over 1 m (HS-15-28)

  • 3.18 g/t gold over 9.54 m, including 19.54 g/t gold over 0.61 m (U0007L7)

 

Minto B Shear Zone

The Minto B Shear Zone is located above the Jubilee Shear Zone, over the central and southern segments of the Surluga Deposit resource, north of the Parkhill Fault. Diamond drilling and mechanized stripping traced the structure over a strike length of 1 km and uncovered broad zones of gold mineralization. A higher-grade core also occurs in the structure, the size and grade could be defined with additional drilling. Diamond drilling in the Minto B Shear Zone will be undertaken concurrently with resource conversion, definition and exploration drilling in the Jubilee Shear Zone.

 

Diamond drilling highlights in the Minto B Shear Zone includes:

  • 2.1 g/t gold over 10.6 m, including 3.7 g/t gold over 5.6 m (SD-18-256)

  • 13.65 g/t gold over 2 m (SD-15-07)

  • 4.69 g/t gold over 6.1 m, including 14.37 g/t gold over 1.52 m (U1683L5)