RCKS talk

Tuesday, November 29, 2016 Derek Macpherson

RPX Identifies New Veins at Wawa Gold Project

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Red Pine Exploration Inc. (TSXV:RPX) released encouraging results from its ongoing trenching and mapping program at the Wawa gold project in Ontario. Results identified new high-grade quartz veins in the hanging wall of the Surluga Deposit and suggest that gold mineralization extends to surface at both the William Gold and Hornblende Shear zones. In addition, the company announced that two holes have been completed as part of the ongoing 6km drill campaign at Wawa. In our view, the ongoing drill program has the potential to grow the project’s current 1.1 million oz Au inferred resource (19 million tonnes at 1.71 g/t Au). At $33/oz Au, Red Pine currently trades at discount to peers ($54/oz), suggesting that the potential for resource growth and planned ownership consolidation are not factored into the current share price.  read more


Tuesday, November 22, 2016 Derek Macpherson

RPX's Resampling Returns Promising Results

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Red Pine Exploration Inc. (TSXV:RPX) released positive results from its ongoing core resampling program at the Wawa gold project in Ontario. The program resulted in a 3.2% increase in average grade and a 7.9% increase in intersection length from previous sampling of the same drill holes and identified two new potential gold-bearing structures near the Jubilee Shear zone. In our view, results from the sampling program to date are promising and in combination with the ongoing 6,000m drill program, might have the potential to add to the Wawa gold project’s current 1.1 million oz Au resource. At $32/oz Au, Red Pine currently trades at discount to peers ($55/oz), suggesting that the potential for resource growth and planned ownership consolidation are not factored into the current share price.  read more


Wednesday, November 16, 2016 Derek Macpherson

Red Pine Doubles Up on Fall Drill Program

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Red Pine Exploration Inc. (TSXV:RPX) has announced the start of a 6,000m fall drill program at the Wawa Gold project in Ontario. This follows the completion of the definitive merger arrangement agreement between Augustine Ventures (CSE:WAW) and Red Pine earlier this week, and supports our view that once the merger is complete, the combined entity is likely to ramp-up exploration activity. The program’s objective is to follow up on the 2016 summer trenching program which confirmed the Jubilee Shear zone’s extension to the North. Other targets of the current campaign include the Hornblende and the new Surluga Road shear zones, the discovery of which we discussed in prior posts, as well as the William Gold zone. It remains early days; however, the results of this summer’s fieldwork suggest that this small drill program has the potential to add to the Wawa Gold project’s current 1.1 million oz Au resource. At $32/oz Au, Red Pine currently trades at discount to peers ($53/oz) and in our view, the market is not taking into account the potential for resource growth which we expect to be further demonstrated by this drill program. read more


Tuesday, November 15, 2016 Derek Macpherson

Red Pine and Augustine Advance Merger Agreement

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Following the signing of an LOI on December 17, 2015, Red Pine Exploration Inc. (TSXV:RPX ) and Augustine (CNX:WAW) have announced they entered into a definitive arrangement agreement whereby Red Pine will acquire Augustine. The proposed name of the new entity is Wawa Gold Inc. Each company currently holds 30% interest in the Wawa gold project in Ontario of which Red Pine is operator. Upon completion of the transaction, Augustine will become a wholly-owned subsidiary of Red Pine which is to own 60% in the Wawa Gold Project and to remain as operator of the new entity. The project’s remaining 40% stake is held by Citabar Ltd, which is also a significant shareholder of Augustine. We believe that the merger of Red Pine and Augustine is likely to be a catalyst for Red Pine´s share price and result in a more aggressive exploration program at Wawa. In our opinion, relative to other projects in the area, the Wawa gold project has been underexplored because of its current ownership structure.  read more


Wednesday, October 12, 2016 Derek Macpherson

Red Pine Discovers Another Gold Bearing Shear Zone

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Red Pine Exploration Inc. (TSXV:RPX) announced the discovery of a new gold bearing shear zone at the Wawa Gold project (30% Red Pine - operator/40% Citabar (private)/30% Augustine Ventures Inc. (CSE:WAW)). Trench samples returned 1.59 g/t Au over 7m (TR16-1B), including 4.85 g/t Au over 2m. While early stage, this result highlights the potential of the Wawa Gold project and continues to suggest that this 1.1 million oz Au deposit has room to grow. In our opinion, relative to other projects in the area the Wawa gold project has been underexplored because of its ownership structure. We believe the planned merger of Red Pine and Augustine should resolve some of these issues and is likely to result in a more aggressive exploration program following the merger.  read more


Wednesday, October 05, 2016 Derek Macpherson

Red Pine‘s Resampling of Historic Holes May Add Ounces

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Red Pine Exploration Inc. (TSXV:RPX) announced results from its core resampling program at the Wawa Gold project (30% Red Pine - operator/40% Citabar (private)/30% Augustine Ventures Inc. (CSE:WAW)). Results were positive as 16 of 24 holes resampled to date saw an increase in metal factor (grade x intersection length) and 11 of 24 sampled saw an increase in intersection length. It remains early days for the sampling program, but the initial results appear to be promising. As well, through an ongoing trenching program Red Pine has identified a new potential gold bearing structure in the hanging wall and footwall of the Jubilee zone. Red Pine plans to continue to advance the project this fall with a 3,000m drill program, while at the same time complete the ongoing merger talks with its joint venture partners.  read more


Tuesday, October 04, 2016 Derek Macpherson

RCKS Fall Mining Showcase Presenter Preview

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On Thursday October 6th, Red Cloud Klondike Strike Inc. will be hosting its 4th Annual Fall Mining Showcase. The event, that will offer attendees the opportunity to meet with a number of companies, features presentations from 20 companies and a buy-side discussion panel comprised of three of the industry’s most influential fund managers. Visit the event page for more details on the day’s schedule. In this post we provide a brief preview on the 20 presenting companies and 8 banner sponsors that will also be in attendance.  read more


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