Red Pine Exploration trades up on drill results
(Kitco News) - Red Pine Exploration (CVE:RPX) said Monday it intersected high-grade gold in its Jubilee Shear Zone. Highlights are 25.73 g/t gold over 4.78 metres, including 41.73 g/t gold over 1.93 metres.
Jubilee is part of the Wawa gold project, part of the Michipicoten greenstone belt of Ontario.
The company was up 12.06% to 61 cents.
"The results from our 2021 drilling program continue to illustrate the untapped potential of the Wawa Gold Project," said Quentin Yarie, President and CEO. "Hole SD-21-298A confirms the presence of zones of high-grade gold mineralization in the Surluga South exploration target and represents an exciting development in the discovery made by Red Pine in 2020. In the northern end of the Jubilee Shear Zone, >400 metres down-dip of the inferred resource of the Surluga deposit, our drilling results suggest that higher-grade mineralization extends into previously unexplored areas. These results are beginning to define a zone that would expand the resource in the northern end of the deposit."