TORONTO, ONTARIO, Oct 21, 2010 (MARKETWIRE via COMTEX) — Red Pine Exploration Inc. (“Red Pine” or the “Company”) (tsx venture:RPX) is pleased to announce the assay results from its just completed initial drill program on the Michelle zone, one of multiple gold-bearing zones identified to date on the SaraCourt Property, located in the Swayze Greenstone Belt, 68 kilometres southwest of Timmins.
The drilling consisted of 8 drill holes totaling 1,692 metres (m) designed to confirm the presence of ore grade gold within the Michelle Zone – a shear zone greater than 300m in length.
Assay Highlights
— RPX10-02 – 4.05 grams/tonne (g/t) over 35m, including 7.76 g/t over 15.42m
— RPX10-08 – 2.65 g/t over 40m
— RPX10-01 – 2.31 g/t over 6m
— RPX10-07 – 3.26 g/t over 4m
— RPX10-06 – 2.84 g/t over 4.4m
— RPX10-03 – 1.12 g/t over 12m
An assay table showing all results can be found at the following link: http://media3.marketwire.com/docs/rpxtab1021.pdf.
Large, Multi-Zoned Ore-Quality Gold System Evolving Around DZ3 Deformation Zone
Initial drilling, trenching and sampling results suggest that the Michelle Zone is a part of a large, multi-zoned, ore-quality gold system evolving on the SaraCourt Property.
Current exploration is focused on discoveries to the north of the newly identified DZ3 Deformation Corridor (as described in Red Pine’s press release dated June 7, 2010) – a structure that appears to be an extension of the Destor-Porcupine Deformation Zone that confines the majority of gold mines in the Timmins area.
The DZ3 Deformation Corridor runs approximately 20 kilometres through the SaraCourt Property.
Early Indications and Evidence of Regional Gold System
Examination of the drill core indicates a strong lithologic-structural-alteration control to the mineralization typical of shear-vein systems similar to significant gold deposits seen in the Timmins-Porcupine Gold Camp.
Quentin Yarie, Red Pine’s Vice President of Exploration comments “What we are observing in the geophysical data and on the ground are the features of a Timmins-style camp; that is an northeast-southwest trending deformation corridor with numerous splays.” Red Pine has exposed and mapped multiple felsic porphyries that occur on the SaraCourt Property. We have found our highest gold values in the Michelle and Krista zones, which lie adjacent to or beneath these systems. Most of the gold mineralization in the Timmins Gold Camp came from mines within or proximal to similar felsic porphyries.
Red Pine’s consulting geologist, Hadyn Butler P.Geo said, “Red Pine’s exploration focus to the north of the DZ3 structure has confirmed that medium to large gold-bearing shear veins are more extensive than brittle veins. The permissive shears examined to date, as well as the type of gold mineralization (shear veins, wide zones of iron carbonate, micro-scaled ladder structures and uniform finely disseminated pyrite) indicate that several parallel shear-hosted mesothermal zones have high potential to host economic gold mineralization.”
On-going exploration has identified significant gold mineralized envelopes associated with strongly carbonatized, pyritized and silicified shear zones showing classic mesothermal gold signatures.
Emerging New Gold Zones Identified
The historic database compiled by Red Pine included a large ground-based magnetic survey and an IP survey from the early 1980’s. These data sets were complimented by a more recent IP gradient survey conducted by Quantec Geoscience in 2003. The Company added to this a detailed magnetic gradient survey by Aeroquest Ltd. of the entire SaraCourt Property, as well as detailed IP surveys by Abitibi Geophysics over the Michelle and Krista Zones.
Regional prospecting guided by a new detailed airborne magnetic survey have identified new zones of gold mineralization that will require additional evaluation to firmly establish the widespread prospectively of Red Pine’s extensive land holdings.
Zones Proximal to the DZ3 Corridor Returning Gold Values
Based on the geophysical interpretation, new anomalous areas were identifiedand a limited number have been prospected at the time of this release. Of interest is that zones that lie proximal to the DZ3 have returned excellent gold values.
At the western limit of the DZ3 3 grab samples over the geophysical anomaly returned gold values of 10.9-33.7 g/t. In the centre of the DZ3 – south of the Michelle Zone returned gold values of 1.0-11 g/t gold.
A northwest trending splay was also identified as an anomaly of interest. It is situated in the north/centre of the SaraCourt Property. The grab sample from this anomaly returned values of 3.86 g/t gold.
In all new anomalous areas the geology has been identified as favorable to hosting gold. The numerous other geophysical targets will continue to be followed up on with prospecting, trenching and sampling. The most interesting will be prioritized for future drilling.
Michelle Zone
A digital database is being constructed utilizing historic Dome Mines and Greenshields exploration data. Drill collar locations have been ground-truthed generating new prospective target areas. Outcrop hydro-washing directed by the geophysical program as well as historic information has identified additional highly prospective zones that are currently being evaluated.
Drilling to date has indicated numerous extensive shear vein systems that are open along strike and at depth. Mineralization is hosted in local brittle hosts (crystal tuff, altered basalts and porphyry dykes) within carbonated, silicified and pyritized shear envelopes. To date the crystal tuff horizons appear to host higher grade mineralization.
Krista Zone – Strike Length Doubles
Detailed geological mapping, outcrop hydro-washing and cross-sections are being completed for Red Pine’s first phase of drilling on the Krista Zone, located 2 kilometers north of the Michelle Zone. This work has established that the Krista Zone is another strike-extensive shear-vein system. Historical drilling by Dome Mines and Greenshields indicates a minimum strike length of mineralization of 300 meters, as well as being open along strike and to depth.
The Krista Zone has now been exposed and mapped over a distance greater than 600 metres. The geophysical signature associated with the Krista Zone indicates a strike length exceeding one kilometer.
As an example of an historical mineralized interval, Greenshields hole G04-16 returned values of 4.24 grams Au over 3.65 meters(i). Chip sampling surveys have established strike continuity to mineralization.
((i)This information is historical in nature and not 43-101 compliant and therefore should not be relied upon. The information was taken from a summary report on the exploration program for the period November 1, 2002 – December 31, 2003 Coppell, Newton, Dale, Frater Townships by A.P. David Gamble, February 6, 2004).
Mortimer Zone
Exploration is on-going on the Mortimer Zone. To date, work has found new mesothermal brittle vein systems over a regional strike of 3 kilometers.
About The SaraCourt Property
The SaraCourt Property is a regional land package of contiguous, high-potential gold properties totaling approximately 28,000 hectares of patented and unpatented mining lands. Located in and along the newly defined DZ3 Gold Deformation Corridor, the Property holds a series of deformation zones and regional fault branches that host abundant gold showings and join the Destor-Porcupine Deformation Zone to the northeast, and join to the western extension of the Larder Lake Deformation Zone fault that branches to the southwest. The Destor-Porcupine Fault Zone is spatially associated with gold deposits in the Timmins-Porcupine Gold Camp that have produced more than 65 million ounces gold to date.
On-site Quality Assurance/Quality Control Measures
All diamond drill (half core) samples were collected and sealed on site and shipped under chain of custody supervision to the ALS Minerals sample preparation laboratory in Timmins, Ontario. Analyses are performed by ALS Minerals Laboratories in Vancouver, BC. All core samples were selected by the Red Pine qualified site geologist, and were cut in half on site by diamond saw. For security, the remaining half core was then resealed in the original core boxes. Individual half core samples were labeled, placed in plastic sample bags and sealed. Groups of samples were placed into sealed and durable rice bags then shipped out by air transport. Remaining coarse reject portions of all samples remain in storage at the ALS Minerals preparation laboratory storage facility at Timmins.
Independent Quality Assurance and Quality Control Protocol
A QA/QC program has been implemented to monitor all assays from the current drilling program. Samples are assembled as batches and are continuously shipped from the site for immediate testing. Included in each batch of samples are certified reference standards (every 10 samples) and blank samples comprised of sterile drill core placed in at random locations (every 20-30 samples). Quentin Yarie, P.Geo, Vice President of Exploration is the qualified person for the technical data contained within this report.
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.
Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Red Pine Exploration Inc.
Brent Nykoliation
Vice President of Business Development
(416) 364-7024
(416) 364-2753 (FAX)
Red Pine Exploration Inc.
Kirk McKinnon
President & CEO
(416) 364-7024
Red Pine Exploration Inc.
Richard Schler
Chief Operating Officer & CFO
(416) 364-7024
SOURCE: Red Pine Exploration Inc.
Copyright 2010 Marketwire, Inc., All rights reserved.
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