Red Pine Exploration Boosts Wawa Gold Project Resources
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Red Pine Exploration Boosts Wawa Gold Project Resources
Red Pine Exploration Inc. (TSXV: RPX, OTCQB: RDEXF) has announced an updated independent Mineral Resource Estimate (MRE) for its Wawa Gold Project. This new resource, prepared by WSP Canada Inc., highlights a substantial increase over previous estimates, including both open pit and underground resources.
Significant Resource Increases
The updated Mineral Resource Estimate indicates an Indicated Mineral Resource of 14.7 million tonnes grading 1.8 grams per tonne gold, equating to approximately 842,000 ounces of gold. Additionally, it presents an Inferred Mineral Resource of 16.2 million tonnes at 1.6 g/t Au, representing around 843,000 ounces of gold.
Open Pit and Underground Resources
Within this estimate, the open pit resources showcase an Indicated Mineral Resource of 14.3 million tonnes with a grade of 1.7 g/t Au yielding 794,000 ounces of gold for the Jubilee deposit, along with an Inferred Mineral Resource of 14.7 million tonnes at 1.4 g/t Au containing 665,000 ounces of gold.
For the underground resource, there is an Indicated Mineral Resource of 299,000 tonnes grading 5.0 g/t Au for 48,000 ounces of gold, which includes contributions from both the Jubilee and Minto deposits. The Inferred Underground Resource consists of approximately 1.5 million tonnes at a grade of 3.8 g/t Au, yielding 179,000 ounces of gold.
Implications for Future Mining Operations
The resource estimates are constrained by a cut-off grade of 0.40 g/t Au for open pit and 2.0 g/t Au for Jubilee and 2.4 g/t Au for Minto in underground scenarios. Notably, the deposit displays consistent gold mineralization from surface levels and extends down to 1,200 meters, suggesting the potential for further open pit and underground mining opportunities.
Exploration and Development Priorities
Michael Michaud, President and CEO of Red Pine, expressed excitement over the approximately 150% increase in total ounces of gold in the updated MRE. This increase underscores the substantial strategic drilling efforts that have been undertaken over the past few years, totaling around 65,000 meters.
Michaud notes the importance of this updated estimate, which not only enhances the size of the deposit but also augments confidence in the quality of the resource. The focus will now be on high-grade mineralization, specifically targeting extensions of the Jubilee and Minto deposits for immediate explorative efforts.
Broader Landscape of Exploration Targets
Despite this updated MRE being reflective of a small segment of the entire landholding, there remain several historic zones and high-priority targets within the Wawa Gold Project area. The company is committed to exploring untested areas to add to the overall mineral wealth of the project.
Technical Advances and Future Programs
The extensive historical data analysis has allowed Red Pine to construct high-quality geological models that will guide their future exploration initiatives. These efforts aim to optimize mining methods, enhance recovery processes, and further define lower-grade mineralization to improve the economics of potential open-pit mining scenarios.
Both the Minto and Jubilee Shears, which house substantial gold-bearing structures, show marked potential for resource expansion. The Wawa Gold Corridor extends over 6 kilometers and includes several additional under-explored gold-bearing structures and historic mining sites.
Company Background
Red Pine Exploration Inc. is a dynamic gold exploration and development company with its main operations focused in the Michipicoten Greenstone Belt. Their land package is over 7,000 hectares, teeming with historic mining activity and opportunity for future exploration and development.
The company’s dedication to building a robust presence emphasizes their commitment to mineral exploration in the region, and they continue to explore ways to augment their resources and advance their projects.
Frequently Asked Questions
What is Red Pine Exploration known for?
Red Pine Exploration Inc. specializes in gold exploration and development, particularly focusing on the Wawa Gold Project in Ontario.
What is the significance of the updated Mineral Resource Estimate?
The updated MRE shows a significant increase in the estimated gold resources, highlighting the potential for future mining operations and enhancing the project’s overall value.
How much gold is estimated in the Wawa Gold Project?
Currently, the project has an Indicated resource of 842,000 ounces and an Inferred resource of 843,000 ounces of gold.
What are the future exploration plans for Red Pine?
Red Pine plans to focus on high-grade extensions of the Jubilee and Minto deposits and explore various untested targets across the Wawa Gold Project property.
How can investors learn more about Red Pine Exploration?
Investors can access additional information about the company and its projects by visiting their official website.
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