Red Pine Exploration Prepares to Host Institute on Lake Superior Geology at its Wawa Gold Project
TORONTO, ONTARIO--(Marketwired - May 8, 2017) - Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or "the Company") is pleased to announce that the 2017 Institute on Lake Superior Geology Annual Meeting will be showcasing the Wawa Gold Project with a field trip on Tuesday May 9, 2017.
Quentin Yarie, President and CEO of Red Pine, stated, "Being invited to participate in the 63rd Annual Meeting of the Institute on Lake Superior Geology is a unique opportunity and it speaks to the quality and breadth of our technical team. We are excited to welcome participants and showcase our Wawa Gold Project. Being able to take fellow geoscientists on a visit of the property, share our findings and receive insights from peers is extremely valuable as we continue to advance exploration."
Wawa Gold Project Highlights
- 100% owned land position between JV partners
- 2 km southeast of the Municipality of Wawa, Ontario, close to roads, power and other infrastructure
- 8 past producing mines on property with historical production of 120,000 oz gold at 9.04 g/t average grade1
> 1M oz Inferred Gold Resource at 1.71 g/t (0.5 g/t cut-off)2
- Near surface mineralization
- Open in all directions
- Historical royalties held by Red Pine
Considerable Growth Potential
- Potential for multi-million ounces resource
- Newly discovered high-grade gold zones
- Gold mineralization extends 5 km along strike
Preliminary Metallurgical Study Underway
- Optimization of gold and silver recoveries
Significantly Undervalued
- Peer group average trading 2.5 X higher on a EV/oz gold basis
Qualified Person
Quentin Yarie, P Geo., is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
About the Institute
The Institute on Lake Superior Geology is a non-profit professional society with the objectives of providing a forum for exchange of geological ideas and scientific data and promoting better understanding of the geology of the Lake Superior region. The major activity of the Institute is its Annual Meeting with geological field trips and technical presentations.
About Red Pine Exploration Inc.
Red Pine Exploration Inc. is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX".
Red Pine has a 60% interest in the Wawa Gold Project with Citabar LLP. holding the remaining 40% interest. Red Pine is the Operating Manager of the Project and is focused on expanding the existing gold resource on the property.
For more information about the Company visit www.redpineexp.com.
1Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc. (effective May 26, 2015). The report is available on www.SEDAR.com under Red Pine's profile.
2NI 43-101 inferred resource of 1,088,000 ounces of gold at 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent (Mineral Resource Statement, Surluga-Jubilee Gold Deposit, Wawa Gold Project, Ontario, SRK Consulting (Canada) Inc (effective May 26, 2015)).
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This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Contact
Red Pine Exploration Inc.
Quentin Yarie
President & CEO
(416) 364-7024
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com