Red Pine Exploration Completes Third Round of Drilling at Cayenne
31 Luglio 2014 - 10:30PM
Marketwired Canada
Red Pine Exploration Inc. (TSX VENTURE:RPX) ("Red Pine" or the "Company") has
completed its spring drilling program at its Cayenne Property located 110
kilometres southwest of Timmins, Ontario. A total of 11 exploration holes
(CC14-14 through CC14-24) were completed in May and June 2014. With the
exception of one drill hole, no significant zones of mineralization were
intersected and consequently, the Company has paused exploration on the Cayenne
property pending a full review of all available data. Red Pine is currently
evaluating several properties that present the opportunity to add value for our
shareholders. An update on the remaining 2014 exploration activities will be
provided shortly.
Cayenne Spring Drilling Program Update
Eleven exploration holes were drilled to test high priority geochemical and
geophysical targets. All drill holes intersected sulphide rich materials with
anomalous zinc ("Zn") and lead ("Pb") values. Highlights from the drill program
are presented below.
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Silver Copper Lead Zinc
From To Length(i) (Ag) (Cu) (Pb) (Zn)
Drill Hole (m) (m) (m) g/t % % %
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CC14-19 172 178 6 4.51 0.22 2.34 2.84
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CC14-20 45.53 55.1 9.57 3.85 0.10 1.83 2.74
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CC14-24 81 100 19 9.12 0.21 1.66 2.91
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Including 81 86 5 13.29 0.36 2.02 4.30
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Including 91 100 9 10.74 0.21 2.13 3.51
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(i)Lengths reported above in metres ("m") are drill intersected core and do not
represent true widths.
While zones of higher-grade mineralization were previously intersected, the
current exploration work seems to indicate that a volumetric significant
mineralized zone likely does not exist and further drilling and expenditure of
funds on the property cannot be justified at this time. Based on this
information the Company has paused exploration on the Cayenne property pending a
complete and comprehensive review of all available data, which will include
review by external consultants with specific expertise in VMS deposits. The
results of this review will determine what further exploration, if any, will be
conducted on this property.
Exploration & Potential Property Acquisition Update
The Company is continually engaged in looking for and evaluating mineral
properties that could potentially add value for our shareholders. Since it
appears the Cayenne property does not have the potential to yield economic
tonnages and grades, the Company has developed a short-list of target properties
and is currently evaluating several opportunities with the potential to host
economic mineralization.
On-site Quality Assurance/Quality Control ("QA/QC") Measures
All samples were shipped to ALS Minerals Division preparation laboratory in
Timmins Ontario. Analyses were performed in the ALS laboratory in Vancouver,
British Columbia. All core samples were selected by the Red Pine site geologist,
and were cut in half by diamond core saw. Individual samples were labelled,
placed in plastic sample bags and sealed. Groups of samples were then placed
into durable rice bags that were shipped out when ready. The remaining coarse
reject portions of the samples remain in storage at the ALS in Vancouver as
required in the event that further work or verification is needed.
Independent Quality Assurance and Quality Control ("QA/QC") Protocol
A QA/QC program was implemented to monitor all assays from the Spring drilling
program. Samples were assembled in batches and were continuously leaving the
site for immediate testing. Included in each batch of samples were certified
reference standards every 20 samples and blank samples comprised of sterile
drill core inserted randomly (approximately every 20-30 samples).
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 Company's common shares trade on the TSX
Venture Exchange under the symbol "RPX".
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. 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
qyarie@redpineexp.com
Red Pine Exploration Inc.
Mia Boiridy
Investor Relations
(416) 364-7024
mboiridy@redpineexp.com
www.redpineexp.com
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