Red Pine Exploration (TSXV: RPX | OTCQB: RDEXF) has reported significant gold mineralization from its latest drill results at the wholly-owned Wawa Gold project, Ontario, prompting the company to plan a new resource model.
Spring drilling tested the intrusion-related gold system and a series of extensional veins in the Wawa Gold Corridor, west of the Jubilee Shear.
Multiple extensional veins were intersected, including 1.32g/t over 100.99m, 3.72g/t gold over 26.59m, and showed significant gold mineralization associated with extensional vein networks around and within the Jubilee Shear.
The 2021 and 2022 drill campaigns also expanded the footprint of mineralization outside the current resource of the Surluga deposit and quantified additional exploration targets.
The property, in Ontario’s Michipicoten Greenstone Belt, has hosted numerous gold mines with historic production of over 120,000oz.
Red Pine’s chief executive, Quentin Yarie, said the latest results in combination with the results received earlier in 2023, are likely to change the existing resource model from a strictly underground position to a hybrid which would start with a shallow, high grade open pit and move to an underground component.
“It’s bigger than we thought. We think we’re dealing with something that could be north of 3Moz, and we have gold bearing structures that cover almost 14 line-km on the property.” Mr. Yarie said.
He continued, “I think the big story here is we said we’re going to prove that it extends to depth, it’s time to turn that into a new resource statement. With an open pit scenario, we would expect that the grade of the overall resource would remain over 2g/t.”
To find out more, please visit www.redpineexp.com.