Red Pine Announces Continuance of the Exploration Program on Ava-Claire between Probe's Borden Lake Discovery and Trelawney's...
11 June 2012 - 10:00PM
Marketwired Canada
Red Pine Exploration Inc. (TSX VENTURE:RPX) (the "Company") has begun its 2012
exploration program on the Ava-Claire Property to follow up on the successful
2011 till sampling program. This program returned 30 samples with gold grains
and with assay values up to 5.98 g/t gold.
The Ava-Claire Property is located between Probe Mines Borden Lake Discovery
(5.848 million ounces gold inferred and indicated) and Trelawney's Cote Lake
Discovery (6.87 million ounces gold inferred and indicated), in a new developing
gold district. Red Pine's interest in these projects is centered on the
potential size of both discoveries and the fact we have a similar geological
environment with the potential to host a large scale gold deposit.
The 2011 exploration included a property-scale till sampling program (consisting
of 69 sample locations). This sampling also utilized airborne geophysics which
identified two areas of anomalous gold values. The objective of the 2012 program
is to identify the bedrock sources of the gold anomalies. The Company concludes
that based on the favourable geophysical signature, geology and till sampling at
Ava-Claire, further exploration is warranted and will be followed up with a
drill program in late summer.
A key feature of the Ava-Claire property is that it is set in a similar geologic
environment as Probe Mines' Borden Lake discovery. Ava-Claire is located 20
kilometres to the west of the Borden Lake Discovery on the same geologic
boundary. The Borden Lake discovery is associated with Timiskaming-age sediments
within the Kapuskasing Structural Zone. Timiskaming sediments often show a
spatial association with large-scale Archean lode gold deposits such as those
found in the Timmins, Kirkland Lake, Hemlo and Red Lake gold camps and thus
represent an important geological indicator for the gold potential of an area.
2011 Results
The 2011 till sampling program produced 30 samples with gold grains, including
up to 10 gold grains from one sample. Assay results of the till samples returned
values up to 5.98 g/t Au. (see the March 29th, 2012 press release for further
details). It should be noted that the 30 samples with gold grains, are directly
associated with the geologic boundary found on the Borden Lake Property. In
addition, these samples were collected from two separate anomalous gold
occurrences along the boundary.
Click here to see a location map of the Borden Lake Discovery and the proximity
of the Ava-Claire Property.
2012 Exploration Plans
Based on the positive results obtained from the 2011 till sample analysis and
assay results, the Company will proceed with a follow up till sampling program
in order to identify the bedrock sources of the gold anomalies. Once the bedrock
sources are refined, additional exploration in the form of geophysical work
and/or trenching will be conducted to plan a drill program in 2012.
The field crew has mobilized to the Ava-Claire property and the till sampling
program will be completed in July. The collected till samples will be submitted
to Overburden Drilling Management Ltd. (ODM) of Nepean, Ontario for gold grain
count analysis.
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 4.051
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.
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.
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