Red Pine drills 2.08 g/t gold over 55.66 metres at Wawa
Red Pine Exploration Inc. [RPX-TSXV] said the 2021 drilling program in the Surlaga South discovery area of its 100%-owned Wawa Gold Project has returned a significant gold intersection. The project is located two kilometres southeast of Wawa, Ontario.
Drilling highlights include drill hole SD-21-302, which returned 2.08 g/t gold over 55.66 metres (estimated true width) in the Jubilee Shear Zone. That intersection includes three higher grade intervals of:
- 21 g/t gold over 3.81 metres (true width TW), including 95.36 g/t gold over 0.92 metres (TW).
- 31 g/t gold over 10.10 metres (TW), including 26.64 g/t over 0.93 metres (TW) and 7.78 g/t over 0.93 metres (TW).
- 98 g/t gold over 2.30 metres (TW) including 13.54 g/t over 0.75 metres.
The company said the mineralized gold intersection in SD-21-302 is located at a vertical depth of 590 metres, approximately 30 metres up-dip from a 4.78 metre intercept grading 25.73 g/t gold (estimated TW) in hole SD-21-298A (announced on September 20, 2021.
“The mineralized intersection in SD-21-302 indicates that thick zones of mineralization exist in our Surlaga South discovery, and that these zones can reach an overall grade and thickness comparable to those forming the core of the current mineral resource of the Surlaga Deposit,” said Red Pine President and CEO Quentin Yarie.
On November 5, 2021, Red Pine shares closed at 52 cents. The shares are currently trading in a 52-week range of 95 cents and 30 cents.
The Wawa project covers over 5,500 hectares and hosts several former mines with combined historic production of 120,000 ounces of gold. Currently the largest gold discovery on the property is the Surluga deposit.
Two mineral deposits (Surluga and Minto Mine South) contain an estimated NI 43-101-compliant resource of 1.3 million tonnes of grade 5.47 g/t gold or 230,000 ounces in the indicated category and 2.7 million tonnes at 5.39 g/t gold or 471,000 ounces in the inferred category.
Over 95% of the contained ounces at both deposits are located between surface and a depth of 350 metres. Both deposits remain open at depth.
The company has previously said it planned to complete an estimated 15,000 metres of diamond drilling this year, with the program continuing into 2022. It said the aim will be to expand Surlaga at depth and test other targets.
As part of its on-going 2021 drilling program, Red Pine is testing the northern and southern extensions of the Surlaga Deposit, and the extension of the Minto Mine Deposit, beyond the footprints of their respective mineral resources. One rig is drilling at the northern end of the Surlaga Deposit and the second rig is drilling at the southern end, testing the Minto Mine Shear Zone and the newly identified Sadowski Gold Zone.
A third drill, which will initially be positioned in the Darwin-Grace-Nyman greenfield target, is scheduled to start next week.