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Last C$0.03 CAD
Change Today 0.00 / 0.00%
Volume 0.0
RPX On Other Exchanges
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As of 1:18 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

red pine exploration inc (RPX) Snapshot

Open
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Previous Close
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Day High
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Day Low
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52 Week High
02/12/15 - C$0.20
52 Week Low
08/14/14 - C$0.03
Market Cap
1.5M
Average Volume 10 Days
116.5K
EPS TTM
C$-0.06
Shares Outstanding
51.5M
EX-Date
--
P/E TM
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Dividend
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Current Stock Chart for RED PINE EXPLORATION INC (RPX)

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red pine exploration inc (RPX) Details

Red Pine Exploration Inc., a junior exploration company, is engaged in the acquisition, exploration, and development of gold and base metals in Canada. It primarily holds interest in the Cayenne-Chili property covering an area of approximately 4,096 hectares of 21 contiguous claims and 4 patented claims. The company was formerly known as Vencan Gold Corporation and changed its name to Red Pine Exploration Inc. in March 2009. Red Pine Exploration Inc. was founded in 1936 and is headquartered in Toronto, Canada.

Founded in 1936

red pine exploration inc (RPX) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: C$22.0K
President, Chief Operating Officer, Director ...
Total Annual Compensation: C$70.8K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$25.2K
Compensation as of Fiscal Year 2014.

red pine exploration inc (RPX) Key Developments

Red Pine Exploration Provides Wawa Gold Project Update

Red Pine Exploration Inc. provided to update shareholders on its plans for the continued development of the Wawa Gold Project located near Wawa, Ontario. Exploration results and geological evidence suggest the Surluga Gold Deposit is part of a much larger gold system within the current land position. Gold discovered to-date has been within the following geologic systems. Mineralized shears with quartz veins Pervasive sulphides (pyrite) within the host diorite, hanging wall and footwall (Porphyry) Quartz tension vein sets (various orientations). The last two drill programs have significantly increased Red Pine's understanding of the geologic controls at Surluga. Future work will focus on advancing exploration outside of the Surluga Gold deposit with an emphasis on identifying new gold mineralization in the adjacent historic operations. As of April 30, 2015, Red Pine has spent over $1,800,000 in eligible expenditures and Red Pine must incur a total of $2.1 million in eligible exploration expenditures by June 30, 2015 to earn a 30% interest in the Wawa Gold Project. The Company is currently working on securing financing for exploration and is confident it will meet its obligations by spending another $300,000 on the property prior to the June 30 deadline and advance into a joint venture agreement (JVA) with Augustine and Citabar. The JVA includes an option for Augustine and Red Pine to earn a further combined 15% interest by spending an additional $4 million ($2 million each) on the property, bringing the combined total interest to 75%. The parties are also continuing discussions on consolidating the property ownership and hope to update the status of these discussions once the collective 60% interest has been earned by Red Pine and Augustine. The Company anticipates that its NI 43-101 resource report will be released by June 10, 2015.

Red Pine Exploration Extends High Grade Mineralization at Surluga Deposit

Red Pine Exploration Inc. has received results for holes SD-15-23 through SD-15-26. No further assays are pending. Hole SD-15-23 completes the required infill-drilling whereas holes SD-15-24 to SD-15-26 represent target gold zones outside the Surluga deposit. Hole SD-15-26 represents a 50 metre easterly step-out extension to the high-grade gold zone intersected in hole SD-14-04 (48.66m of 4.41 grams/tonne including 16.6m of 11.13 g/t and indicates that this high grade zone remains open at both depth and along strike. Hole SD-15-25 indicates a zone of gold mineralization in the Jubilee shear zone and the potential for stacked gold zones in the shear. The shallower gold zone intersected in hole SD-15-25 defines a down-dip extension of the main gold zone in the northern Surluga deposit. The deeper gold zone intersected in hole SD-15-25 is interpreted to define the apex of a new zone of gold mineralization that is open down-dip and along strike. Hole SD-15-24 demonstrates that in addition to gold-bearing quartz tension veins, the footwall of the Surluga deposit also hosts gold bearing shear zones. This footwall mineralization is located between the Jubilee shear zone, hosting the Surluga deposit, and the Hornblende shear zone. The Hornblende shear zone is located 300m west of the Jubilee shear zone. Historical drilling suggests that the Hornblende shear zone is a gold-bearing structure in which the gold zones have a potential thickness similar to the gold zones in the Jubilee shear zone. Hole SD-15-26 adds another 250m of strike length to the potential gold mineralization in the Minto B shear zone. Gold mineralization zones with a thickness ranging from 3m to 27m have now been intersected in three holes covering a 500m strike length of the Minto B shear zone. This demonstrates the continuity and width of this gold play located in the hanging-wall of the Surluga deposit.

Red Pine Exploration Inc. Updates on Drilling Program at Footwall Mineralization, Wawa Gold Project

Red Pine Exploration Inc.'s winter/spring 2015 drill program is continuing with 2,500 metres of drilling completed as part of the planned program total of more than 3,000m on the Surluga Gold Deposit. The program's primary focus is to provide infill drilling results that can be used to expand the grade and size of the mineral resource at Surluga due to gaps in the historic data. Red Pine has a regulatory requirement to issue its own NI 43-101 report no later than June 12, 2015. Results for holes SD15-07 through SD- 15-13 have now been received and assays are pending for the remaining holes. Past exploration has focused exclusively on the delineation of gold mineralization within the Surluga Gold Deposit's Jubilee Shear. During Red Pine's current exploration program however, gold mineralization was identified in both the hanging wall and footwall. This material was previously excluded in resource calculations as it was deemed to be barren. In the hanging wall, gold mineralization is found both in subsidiary shears, and with disseminated pyrite. The shear hosted gold is similar to that found within the Jubilee Shear, but the pyrite association in diorite has more of an affinity with Archean Porphyry Gold systems such as Iamgold's Côté Lake project. These findings are significant in that they identify gold mineralization in previously discounted material, and should therefore positively influence waste to ore ratios in future evaluations. In the footwall, gold mineralization has been identified in high grade quartz-tourmaline tension veins. These tension veins are postulated to have been emplaced as fracture `fillings' between the Jubilee Shear and the Hornblende Shear (a subparallel shear approximately 300- 450 metres to the west of the Jubilee). These findings are significant in that they extend prospective gold mineralization further to the west than previously identified.

 

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