Red Pine Exploration Readies for Drill Program at Cayenne-Chili
14 Novembre 2013 - 2:33PM
Marketwired Canada
Red Pine Exploration Inc. (the "Company") (TSX VENTURE:RPX) announces that
further to its discovery of massive sulphides on the property, it has selected a
drill contractor and expects crews to mobilize into the property area in late
November.
Subsequently, a diamond drill program of about 2500-3000 meters in conjunction
with selective geophysical surveys is planned to begin in early December.
Massive Sulphides Confirmed at Surface
Mechanized trenching conducted in July, 2013 exposed approximately 20 meters of
massive sulphides consisting of sphalerite (zinc), galena (lead), and veins of
chalcopyrite (copper) immediately west of the historic Vencan Zinc showing and
is identified as Trench Zone 1 ("TZ1"). Following visual confirmation of
mineralized outcrop, we drilled two very shallow holes, approximately 6 meters
apart, into TZ1 and one shallow hole south-west of the Jefferson Trench zone
identified as ("JT1") using a back pack unit to gain targeting information for
the planned diamond drill program. Due to depth limitations of the back-pack
drill unit, drill core was terminated in mineralization and the maximum total
hole depths were less than 8.5 meters.
Richard Schler, CEO commented: "The latest results are both exciting and
promising. The property has all the indicators to host a potential discovery:
Massive sulphides identified and confirmed at surface; geophysical and
structural data interpretation all suggest the mineralization has significant
strike length and should carry to depth, geochemical analysis indicates it has
the right kind of elements typically found proximal to known VMS deposits and is
close to existing infrastructure."
"The next step is to get the drills turning on what might be the best
opportunity for a significant new discovery in the entire Timmins area."
Back Pack Drill Results
For clarity purposes, we have re-presented the back pack drill results which
were outlined in our recent news release on November 12, 2013. The purpose of
the backpack drill program was to test areas with:
-- no outcrop exposure and favourable geophysical targets, and
-- to obtain structural information in areas of known mineralization such
as the trench zone.
Composite results over the length of three back pack drill holes are as
shown:
----------------------------------------------------------------------------
Total
Back Drill
Pack Hole Assayed Silver Copper Lead Zinc
Drill Depth Interval (Ag) (Cu) (Pb) (Zn)
ID Location (meters) Notes (meters) g/t % % %
----------------------------------------------------------------------------
BC13-04 Terminated in
TZ1 7.07 mineralization 7.07 8.01 0.91 3.63 8.20
----------------------------------------------------------------------------
BC13-05 Terminated in
TZ1 6.37 mineralization 6.37 29.35 1.42 3.38 12.79
----------------------------------------------------------------------------
BC13-01 Terminated in
JT1 8.4 mineralization 4.01 12.1 1.11 4.41 8.25
----------------------------------------------------------------------------
Property is Close to Existing Infrastructure
The Cayenne-Chili property is located about 94 kilometers south-west of Timmins
which is home to several mines including the Kidd Creek Deposit.
There are existing rail and power lines within 25 kilometers of the property and
numerous well travelled all weather logging roads provide vehicle access to the
property.
Back Pack Drills Vs Diamond Drills
Diamond drill units are used for "exploration" holes to verify the overall
extent and grade of potential mineralized zones. They are usually moved from
"hole to hole" using bulldozers, typically collect core samples in the 2.250
inch diameter range and drill to maximum depths of about 600 meters.
Back-pack drills similar to the unit we used on our recent "prospecting" program
to obtain the above results are very portable (weighing approximately 185 lbs)
and can be "moved around" manually which makes them ideal for prospecting. They
typically collect core samples in the 1.516 inch diameter range and have limited
depth range.
About the Cayenne-Chili Property
-- The Cayenne - Chili Property hosts a remobilized VMS System Associated
with an adjacent banded iron formation.
-- Multiple lenses of mineralization observed in the VenCan zinc showing
indicate a stacked sequence of mineralized horizons
-- Remobilized Mineralization dips steeply to the North- not to the South
as previously interpreted
-- Identified new showings with full utilization of Geophysical and
Geochemical Data
-- Known High Grade Mineralization - assayed values of up to 24.7% Zn,
15.6% Pb and 1.1% Cu from grab samples along the corridor (2013)
-- Close to existing infrastructure (rail line, power, all weather roads)
Qualified Person
Quentin Yarie, P.Geo., is the qualified person in regard to the technical data
contained within this news release and will be responsible for overseeing all
aspects of the Company's exploration programs.
About Red Pine Exploration Inc.
Red Pine Exploration is a gold and base-metals exploration company headquartered
in Toronto, Ontario, Canada. The Cayenne-Chili Property consists of 23
contiguous mining claims totalling 46 square kilometres. The claims sit in a
region interpreted as the western extensions of both the Larder-Cadillac and the
Porcupine-Destor deformation zones.
The Company's common shares trade on the TSX Venture Exchange under the symbol
"RPX".
More detailed information about the Company is available on the website:
www.redpineexp.com.
This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Red Pine Exploration Inc.
Quentin Yarie
President & COO
(416) 364-7024
(416) 364-2753 (FAX)
qyarie@redpineexp.com
www.redpineexp.com
Grafico Azioni Red Pine Exploration (TSXV:RPX)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Red Pine Exploration (TSXV:RPX)
Storico
Da Dic 2023 a Dic 2024