RCKS Talk

13-Sep-2018

Red Pine Exploration Inc.

More High-Grades from Historic Assays

Impact: Mildly Positive

Red Pine Exploration announced additional results for historic holes sampled as part of its 2018 Historic Core Sampling Program at its Wawa Gold Project, located in Wawa, Ontario. The goal of the historic program is to convert gaps in the historic resource, where drilling exists but the core was not assayed.

  • This set of results were highlighted 22.8g/t Au over 1.74m (S287) in the Surluga Deposit, which continues to highlight the high-grade nature of the shear zones and aligns well with the company’s revised plan of operating a higher-grade underground mine. Figure 1 shows the holes released in this update and the grade x meter increase for the holes
  • Historic core sampling now totals 42,000m since December 2014 and continues to add gold to both the Jubilee Shear Zone and Surluga Deposit, which we expect is likely to have positive impacts to the projects resource base to be defined in the planned resource update for Surluga
  • We note that since April 2018, ~15.5M share purchase warrants have expired with only ~375k expiring in the money. We view this positively as it improves the company’s capital structure. We note that the next significant set of warrants expire in February 2019 with 9.25M at C$0.066 and 5.3M at C$0.132 and 3.4M at C$0.135
Red Pine currently trades at a steep discount to peers (C$19/oz vs. peers at C$49/oz), valuation does not reflect the exploration upside that continues to be demonstrated by ongoing drill results. While ongoing drilling is likely to be a positive for the stock, we view the pending resource update positively and is likely to provide investors clarity on the path forward.

14-Aug-2018

Red Pine Exploration Inc.

Surluga Drilling Intersects 27.9m of 3.13g/t Gold

Impact: Positive

Red Pine Exploration has announced the results of sixteen additional holes at its Wawa Gold Project as a part of its drill program designed to in fill gaps in the Surluga and Minto Mine South Zone.
  • Drilling in the near-surface extension of the historic Jubilee Mine at the Surluga Deposit returned results of: 3.13g/t Au over 27.9m, including 37.3g/t over 1.1m (SD-17-172), 1.77g/t Au over 32.6m (SD-17-170) and 2.12g/t over 14.1m (SD-18-176)
  • A new gold zone was discovered in the footwall of the Surluga Deposit with hole SD-17-172 returning 7.74g/t Au over 2.9m, which is a positive development for the company as high-grade gold mineralization has been primarily intersected in the hanging wall and shear zone
  • Drilling continues to fill gaps in the Surluga Deposit with high-grade mineralization and the company is working to target strategic gaps in the existing database in order to maximize the impact of the program on the upcoming resource
Red Pine currently trades at a discount to peers (C$27/oz vs. peers at C$51/oz), valuation does not reflect the exploration upside we believe the property has, or the likely re-rating should the current project ownership structure be cleaned up.

08-Aug-2018

Red Pine Exploration Inc.

Resampling Results Suggest Current Resource May Be Understated

Impact: Mildly Positive

 

Red Pine Exploration has received partial assay results for 135 holes from historic drill core from the Wawa Gold Project, which the company is sampling as a part of its 2018 sampling program.
  • Red Pine has received assays for 7,600 of the 11,000m of core logged this year, where 51% of sampled holes returned grades greater than 0.1g/t Au
  • Sampling highlights include: 8.78g/t Au over 2.28m at the Surluga Deposit (U0728L5) 9.36g/t gold over 0.7m (S174W), 2.31g/t gold over 4.88m (U0645L5), 1.55g/t gold over 3.8m (U0683L5)
  • Previously, all unsampled cores were assigned a gold value of zero, removing any ability for extrapolation in those areas of the deposit; subsequently, the results of this sampling are likely to have a positive impact on any future resource model as 51% of holes in these unsampled areas have returned non-zero gold values
Red Pine currently trades at a discount to peers (C$27/oz vs. peers at C$50/oz), valuation does not reflect the exploration upside we believe the property has, or the likely re-rating should the current project ownership structure be cleaned up.

 

12-Jul-2018

Red Pine Exploration Inc.

New Zone Discovered at Wawa Gold Project

Impact: Mildly Positive

Red Pine Exploration has announced results from 22 new holes drilled at its Wawa Gold Project as a part of its 30,000m 2017-2018 drill program and has discovered a new mineralized zone (Minto Lower Zone) parallel to the Minto Mine South Zone.
  • Highlights include: 4g/t Au over 2.2m (SD-18-213) and 76g/t Au over 1.6m (SD-18-212); another new gold zone was discovered in the footwall of the Surluga Deposit, including 2.54g/t Au over 5.4m (SD-17-153)
  • The new Minto Lower Zone extends for over 1.5km and 3D modeling suggests it may be associated with the historic Parkhill Mine, which had an average recovery grade of 8.57-10.28g/t Au
  • The Minto Lower Zone correlates with the company’s understanding of the mineralization of the project and reflects the exploration potential of the property
Red Pine currently trades at a discount to peers (C$26/oz vs. peers at C$49/oz), valuation does not reflect the exploration upside we believe the property has.

24-May-2018

Red Pine Exploration Inc.

Minto Mine South Zone Continues to Expand

Impact: Positive

Additional drill results highlight the exploration potential of the Wawa Gold Project, supported by further expansion of the Minto Mine South Zone.

  • Minto Mine South Zone continues to expand along strike and down-dip
  • Possible new high-grade zone intersected in Minto Mine South.
  • 30,000m drill program underway, working towards updating resources at Wawa
Red Pine currently trades at a discount to peers (C$27/oz vs. peers at C$51/oz), valuation does not reflect the potential for exploration upside.

12-Apr-2018

Red Pine Exploration Inc.

New Discovery Expands Wawa Gold Project

Impact: Positive

With the discovery of a new zone outside current resources, drilling continues to support our view that resource expansion is likely.

  • New shear zone discovered 950m north of resource at Wawa
  • New zone demonstrates 5km strike of Wawa Corridor
  • Exploration continues to follow-up on results, to support expected resource expansion
Red Pine currently trades at a discount to peers (C$27/oz vs. peers at C$49/oz), valuation does not reflect the potential for exploration upside.

01-Jan-2018

Red Pine Exploration Inc. (TSXV:RPX)

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To access the historical archives of our original blog format, please click on the link(s) below to be re-directed. Please note that we no longer update those archive blog pages.

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