Highlights include the intersection of 4.66 g/t gold over 12.24 metres true width (TW) in the Jubilee Shear Zone, including 24.1 g/t gold over 0.68 metres (TW) and 14.68 g/t gold over 1.94 metres (TW), 440 metres down plunge of the boundary of the Surluga resource, and the discovery of high-grade gold mineralization in the newly identified Sadowski gold zone with the intersection of 13.95 g/t gold over 4.48 metres core length (CL) including 29.29 g/t gold over 2.02 metres.
“The discovery of a previously unknown network of quartz veins intersected adds credibility that the property continues to benefit from greenfield exploration”
Red Pine CEO Quentin Yarie
“The confirmation of gold mineralization in the Jubilee Shear Zone, indicated across two drill holes located 400 meters down plunge of the existing Surluga resource, further validates the company’s belief that the Jubilee Shear Zone extends to depth and hosts high-grade gold mineralization,” Red Pine CEO Quentin Yarie said in a media statement.
“The discovery of a previously unknown network of quartz veins intersected adds credibility that the property continues to benefit from greenfield exploration,” Yarie said.
Two drill rigs are active on site, concurrently drilling beneath the Surluga deposit to the north and south, and the company plans to test the property’s greenfield targets.
Red Pine stock surged as much as 10% on the news, and by midday shares had been traded over 240,000 times on the TSX, more than double the average daily volume. The company has a C$45.2 million market capitalization.
