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Red Pine Exploration excited by initial drill findings at Wawa gold project

Friday, March 3, 2017 7:34
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(Before It's News)

Canada focused mining group Red Pine Exploration Inc (CVE:RPX) has unveiled positive drill results from the  Darwin-Grace mine area at its Wawa gold project in Ontario.

Red Pine has a 60% interest in the property, which has historically hosted numerous gold mines and produced over 120,000 ounces. Citabar LLP holds the remaining 40%.

The focus is on expanding the existing gold resource.

The latest highlights from work include hitting two high-grade zones related to the Darwin-Grace mine, with a central high-grade zone containing 29.27 g/t (grams per ton) gold over 3.4 metres in one hole.

Another northern high-grade zone contained 42.22 g/t gold over 2.44 metres in hole DG-17-55 and 57.31 g/t gold over 3.14 metres in hole DG-17-56.

President and chief executive of Red Pine Quentin Yarie told investors: “We are quite excited by the results of this initial exploration work in the Darwin-Grace mine area.

“This early drilling indicates that high-grade material remains in the vicinity of the mine and that the structure hosting the mine may be larger and more fertile than initially anticipated.”

The Darwin-Grace mine area lies 3 km south of the center of the Surluge deposit inferred resource, which stands at 1.088mln  ounces of gold at a 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.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/174228/red-pine-exploration-excited-by-initial-drill-findings-at-wawa-gold-project-174228.html

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