Red Pine Exploration Completes Second Round of Drilling At Cayenne-Chili With Assays Pending, Drilling to Re-Commence in March
February 20, 2014 (Source: Marketwired) — Red Pine Exploration Inc. (the “Company”) (TSX VENTURE:RPK) has completed the second round of drilling at its Cayenne-Chili Property. The Company is currently conducting down-hole geophysical surveys on all of the recent drill holes, CC14-04 through CC14-13 and has requested geo-chemical analysis on all drill core, as was completed on the first round of drilling. Assays are pending with results expected in March, 2014.
February 2014 Exploration Program Update
While there is considerable data yet to be received and analyzed, we are extremely pleased with the program results to-date.
A total of 10 exploration holes were drilled in January-February. The drill holes tested high priority geochemical and geophysical targets across a 5 kilometre strike length. The Company utilizes X-ray fluorescence (XRF) devices as an exploration tool in identifying alteration and mineralization. Based on visual inspection and XRF analysis of the core all but one drill hole intersected massive to semi-massive sulphide sections of pyrrhotite, pyrite, sphalerite, galena and chalcopyrite.
Quentin Yarie, President & COO commented: “Our current exploration efforts have shown us that we have an extensive strike length of mineralization characterized by solid sulphide of varying width. The mineralization sub-crops in many areas along a 5 kilometre stretch and is cross cut by numerous interpreted faults. These features plus the principal gangue minerals being iron carbonate and carbonates with minor chlorite are typical of Mattabi-type volcanogenic massive sulphide (VMS) systems: as such, our exploration drilling to date has been shallow (no greater than 100m vertical depth) and may continue to be so as we continue to explore along the extensive strike length.”
Next Scheduled Exploration Program – March 2014
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Results from the geophysical down-hole surveys will be utilized in conjunction with geochemical and structural analysis to assist in drill targeting for the next phase of field exploration. In addition to continued work around targets already drilled and moving systematically along the 5 kilometre identified strike length, there are also multiple prospective targets we have not yet drilled. Given the above, we expect to initiate another phase of drilling in March consisting of 15-20 holes totaling about 4,000 meters.
About the Cayenne-Chili Property
- The Cayenne – Chili Property hosts a Mattabi-type VMS System Associated with an adjacent banded iron formation.
- Multiple lenses of mineralization observed in the VenCan Zn-Cu-Pb showings and Jefferson Zn-Pb-(Cu) deposit indicate a stacked sequence of mineralized horizons
- Mineralization dips steeply to the North- not to the South as previously interpreted
- Identified new showings with full utilization of Geophysical and Geochemical Data
- Known High Grade Mineralization – assayed values of up to 24.7% Zn, 15.6% Pb and 1.1% Cu from grab samples along the corridor (2013)
- Close to existing infrastructure (rail line, power, all weather roads)
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 Exploration Inc.
Red Pine Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Cayenne-Chili Property consists of 21 contiguous mining claims totalling 9,100 hectares. The Company’s common shares trade on the TSX Venture Exchange under the symbol “RPX”.
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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