Red Pine Provides Update on its Activities in Response to COVID-19 and Reports 5 Holes Completed Below Surluga With Assays Pending
TORONTO, March 31, 2020 (GLOBE NEWSWIRE) — Red Pine Exploration Inc. (TSX-V: RPX) (“Red Pine” or the “Company”) announces that, in response to the COVID-19 pandemic, it has suspended its drilling activities at its Wawa Gold Project located 2 km southeast of Wawa, Ontario. To date, there are no reported, suspected or confirmed cases of COVID-19 at Red Pine and the Company has put in place protocols to protect the public and all of its staff. The Company has completed approximately 3,000 metres of its 16,000-metres 2020 drilling program (see Feb. 5, 2020 News Release). A scaled-back staff will remain at camp, under strict health protocols, to continue exploration activities such as logging and sampling of completed drill holes and other field activities. Although lab delays may be expected, assay results will be announced when they are received.
Red Pine remains fully funded, and the Company will continue its 2020 expansion drilling program once it is safe to do so. Five holes of the winter drill program have been completed to date at depths of 500 to 600 metres with preliminary observations indicating that gold mineralization was successfully intersected below and beyond the current footprint of the Surluga 43-101 resource1. Visible gold was observed in hole SD-20-287 at approximately 458 metres depth in the Jubilee Shear Zone.Quentin Yarie, CEO of Red Pine, stated, “The health and safety of our workforce and the public is always paramount and as such we are suspending drilling operations at this time in line with recommendations and mandates from the government of Ontario. We have put in place protocols to safeguard our field geologists so that they can continue to work on site and we are able to adjust our work programs if necessary, as we continue to monitor the Coronavirus situation. We would like to extend our thanks to our shareholders, suppliers, contractors and partners for their cooperation and understanding in these unprecedented times.”The 2020 drilling program is designed to: 1) expand gold mineralization in the downdip and down plunge extensions of the Surluga Deposit in the Jubilee Shear Zone beyond the footprint of the current resource, 2) expand gold mineralization in the Hornblende Shear Zone, adjoining and parallel to Surluga and 3) test the Jubilee Shear Zone extension south of the Parkhill Fault.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 64.5% interest in the Wawa Gold Project with Citabar LP. holding the remaining 35.5% interest. Red Pine is the operating manager of the Project and is focused on expanding the existing gold resource on the property. In December 2019, Alamos Gold became a strategic investor in Red Pine and is involved in the ongoing development of the Wawa Gold Project.For more information about the Company visit www.redpineexp.comOr contact:Quentin Yarie, CEO, (416) 364-7024, [email protected]Or Mia Boiridy, President, (416) 364-7024, [email protected]1Wawa Gold Project 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 category (National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, effective July 16, 2019)Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.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.