Red Pine Exploration (TSXV: RPX, OTCQB: RDEXF) announced initial results of its near-surface drilling program focused on evaluating the potential of an open pit operation in two areas of the Jubilee Shear. This drilling is a portion of the ongoing, fully funded 25,000 metres drill program at the Wawa gold project in Northern Ontario.
Near-surface intersection of 14.51 g/t gold over 4.81 metres, including 90.40 g/t gold over 0.67 metres, at the edge of the 2024 mineral resource estimate within an area for consideration for a potential open-pit operation. More than 14 drill holes are ongoing in the shallow part of the Jubilee Shear with results pending. Several high-grade gold intersections > 5.00 g/t gold at depth in the Jubilee Shear located hundreds of metres away from the 2024 MRE, are indicative of the potential for future growth to the mineral resource.
The company is continuing to identify key geological vectors towards potential zones of strong gold mineralization in the Jubilee Shear. Red Pine is also outlining new exploration targets at depths in the Jubilee Shear in the Cooper mine area. The focus of the drilling is to build out the near surface resource to complete an updated MRE and a preliminary economic assessment by H1 2026.
Michael Michaud, President and CEO of Red Pine commented: “We are excited that our initial near-surface drilling has already intersected wide zones of alteration, quartz veining and significant gold grades. This drilling is designed to not only improve our confidence in the gold distribution, but also to expand gold mineralization in this relatively underexplored area. This drilling is the first step in assessing the potential of a near-term open pit operation that would provide an incremental approach to move towards a larger operation to mine the existing open-pit and underground mineral resource base outlined in the 2024 MRE.”
The company news release also reads: “We are also pleased with the positive results from deeper drilling as we continue to gain more knowledge on the geology and the potential to intersect gold mineralization in large step-outs from the 2024 MRE. Of importance, we have now intersected a gabbro unit at depth that is known to be a critical control on mineralization as identified closer to surface where we have already defined a large open-pit and underground resource.”
The company intends to update the 2024 MRE with the completion of the drilling program, with the objective to concurrently work towards a preliminary economic assessment, anticipated for completion in H1 2026.
Red Pine is currently drilling with two rigs and completed approximately 65% of the fully funded 25,000 metre exploration program. The ongoing drilling at depth continues to intersect gold mineralization with large step outs designed to expand the mineral resource base. In parallel, near-surface testing of the Jubilee Shear has started in two areas identified as having high potential for open-pits within the near-surface portion of the 2024 MRE.
For more information about the company, visit www.RedPineExp.com.
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