These recent results demonstrate the potential for gold in in both the hanging wall of the Surluga Resource and within existing 'gaps' of no drilling in the 2019 resource.
Intersection of significant mineralization in the Minto B Shear in the hanging wall of the Jubilee Shear:
o 7.85 g/t gold over 13.44 metres including 13.29 g/t gold over 1.96 metres and 59.10 g/t gold over 1.01 metres in SD-23-470
o This represents the best drill intersection so far in the Minto B Shear
o The intersection is located 56 metres up-dip of the intersection of 3.64 g/t gold over 24.14 metres including 73.00 g/t gold over 1.00 metres in SD-22-415
Intersection of significant mineralization in 'gaps' in the 2019 resource footprint: 3.35 g/t gold over 6.95 metres including 20.10 g/t gold over 1.01 metres in SD-23-472
Confirmation of historical drilling results: 6.63 g/t gold over 11.60 metres including 26.01 g/t gold over 2.10 metres in SD-23-466
Gold Mineralization in Hanging Wall Structures: The presence of gold in hanging wall structures like the Minto B Shear indicates a potential for significant gold deposits. Such mineralization can provide valuable insights into the geology and tectonic history of the area. The lateral and vertical continuity of gold mineralization suggests that the gold deposits are not only extensive in the horizontal direction but also in depth.
Peripheral Material Mineralization: The fact that peripheral materials are also mineralized indicates that the gold-bearing fluids or processes responsible for gold deposition were widespread. This implies a large-scale mineralizing event or a series of events that affected a broad area.
Extensional Vein Networks: The identification of extensional vein networks is a positive sign for increased resource potential. Vein networks can serve as conduits for mineralizing fluids, and the presence of such networks can enhance the overall gold potential of the area.
Revised Resources: The discovery of new zones of mineralization and extensional vein networks suggests that a revision of the resource estimates are warranted. A revised resource estimate, incorporating these new findings, could potentially show a substantial increase in the gold inventory.
Surluga and Minto Mine South Deposits: The association of the new zones of mineralization with existing deposits like the Surluga and Minto Mine South deposits further enhances the overall gold potential of the area. The presence of multiple mineralized zones in proximity to existing deposits could lead to synergies in exploration and development activities
Quality Assurance/Quality Control ('QA/QC') Measures
Drill core samples were transported in security sealed bags for analyses to Actlabs in
Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.
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Email: chowes@redpineexp.com
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance.
Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. Forward-looking information contained in this news release includes but may not be limited to:' the potential for a hybrid pit and underground project'. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Such opinions, assumptions and estimates are inherently subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and weather, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance.
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