We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Red Pine Exploration Inc | TSXV:RPX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.08 | 0.08 | 0.085 | 0.085 | 0.08 | 0.085 | 271,000 | 16:21:53 |
Red Pine Exploration Inc. (TSX VENTURE:RPX) (the "Company") has received positive till sample results from its Ava-Claire Property (the "Property"), located to the west of Timmins, Ontario. The property is situated in the Kapuskasing Structural Zone, between the Trelawney Cote Lake Gold deposit to the east, and the Probe Mines Borden Lake gold discovery to the west. Recently received till sample results support the hypothesis that the Property has gold mineralization glacially transported from a Reduced Intrusion-Related Gold System (RIRGS) similar to the Fort Knox and Dublin Gulch gold deposits, and Probe Mines' Borden Lake gold discovery. Ava-Claire Till Sampling The Ava-Claire Property is set in a similar environment as Probe Mines' Borden Lake discovery (click here to see an image), which has an inferred resource of 3.8 million ounces of gold. Red Pine geoscientists analyzed the lithological, structural and geophysical signatures associated with the Borden Lake discovery, and concluded that the Ava-Claire Property is situated in a similar geologic environment. To test the hypothesis that the Property has the potential to host gold mineralization of the RIRGS type, Red Pine conducted a property-scale till sampling program consisting of 69 sample locations spaced along two sample corridors parallel to the prospective Kapuskasing Structural Zone (KSZ) (click here to see an image). The till sample corridors were located south of the KSZ as Quaternary geologic analysis indicates that the dominant paleo-ice direction vector was from north to south. The collected till samples were submitted to Overburden Drilling Management Ltd. (ODM) of Nepean, Ontario for gold grain count analysis. This analysis revealed 30 of the samples had isolated gold grains, with a maximum of 10 gold grains from one sample. The Company submitted the dense mineral concentrates from the ODM gold count analysis to Activation Laboratories Ltd. (ACTLABS) of Ancaster, Ontario for chemical analysis. This analysis was conducted to ascertain if gold was also hosted in composite grains with sulphides, as per the Borden Lake gold discovery. The analysis revealed that gold is indeed associated with sulphides, and returned values up to 5.98 g/t Au from samples with no visible gold grains. When this information was added to compiled data source from the Ontario Geologic Service, a clear ice direction vector from the north-north-east was identifed. A historical drilled copper occurrence with abundant pegmatite dikes, pyrrhotite and chalcopyrite, and hornblende in metasediments found to the north-east of the anomalous gold-in-till samples collected by Red Pine, is interpreted by Company geoscientists to be associated with porphyry-style mineralization. This, coupled with the identified association of gold with sulphides, ice direction vector analysis, and a similar lithilogical, structural, and geophysical environment as that associated with the Borden Lake gold discovery, supports the Company's hypothesis that the Ava-Claire Property has the potential to host a Reduced Intrusion-Related Gold System (click here to see an image). Exploration Plans Based on the positive results obtained from the till sample analyses, the Company will now have the dense mineral concentrates reanalysed for RIRGS pathfinder elements and these test results are expected by late May. Depending on results from this further analysis, infill till sampling will be conducted over hypothesized glacial dispersal trains to generate targets for geophysical surveying. 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's Properties The Ava-Claire Property - Kapuskasing Structural Zone The Ava-Claire property is set in a similar environment as Probe Mines' Borden Lake discovery. The Borden Lake discovery has an inferred resource of 3.8 million ounces of gold. Red Pine's consultant, Hadyn Butler, completed a regional geologic interpretation of the Kapuskasing structural zone surrounding this recent discovery. Red Pine believes that its geological and geophysical interpretation is that of an extension of the "Borden Lake Belt", as identified by Probe, which continues through the centre of Ava-Claire. A till sampling program has been completed on Ava-Claire designed to identify favourable locations for further exploration. It is expected that the pending assay results from these samples will facilitate additional geophysical methods to map conductive targets associated with sulphides as it was at the Borden Lake discovery. The Company is awaiting these assays, as we believe that positive results will be a catalyst for further exploration on Ava-Claire. The SaraCourt Property - Swayze Belt 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, this 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. 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.
1 Year Red Pine Exploration Chart |
1 Month Red Pine Exploration Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions