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Last C$0.05 CAD
Change Today +0.005 / 11.11%
Volume 81.5K
RPX On Other Exchanges
Symbol
Exchange
Venture
OTC US
Frankfurt
As of 11:27 AM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

red pine exploration inc (RPX) Snapshot

Open
C$0.05
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$0.03
Market Cap
2.6M
Average Volume 10 Days
98.5K
EPS TTM
C$-0.11
Shares Outstanding
51.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
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 Inc. Provides Update on its Wawa Gold Project

Red Pine Exploration Inc. confirmed that it has filed the National Instrument 43-101 technical report in support of the Inferred Resource on the Wawa Gold Project, announced on June 11, 2015. Highlights include: improved Inferred Resource at the Surluga Deposit with a 14.7% increase in gold grade and 1.5% increase in gold contained in less tones of ore: 1,088,000 ounces at 1.71 grams per tone (g/t) gold contained in 19.824 million tones (using an average 0.5 g/t gold cut off grade); Pit-constrained inferred resources of 676,000 ounces at 2.05 g/t gold and outside pit-constrained inferred resources of 298,000 at 1.07 g/t gold for all gold zones located between surface and 300 meters vertical depth (using a 0.4 g/t gold cut-off grade); high-grade underground constrained Inferred Resource: 114,000 ounces gold at 3.73 g/t gold (using a 2.5 g/t gold cut-off grade); 89.5% of the resource is located between surface and 300 m vertical depth; the Surluga Deposit contains discrete zones of higher-grade gold mineralization that have a strong control on the spatial distribution of the gold. The updated technical report and revised resource estimate highlight many key features of the Surluga Deposit: better grade of the overall resources with an increase in size of the inferred resource; the sensitivity analysis, which provides a direct comparison with the historical resource at a 0.5 g/t cut-off, shows a 17% increase for the total gold content and a 10.7% increase in the grade for the gold zones of the Surluga Deposit; better definition of the high-grade zones of the deposit that remain open at depth will most likely have a positive influence on the economics of the deposit; and potential to significantly improve grade and economics of the Surluga Deposit through additional verification and subsequent inclusion of the many gold zones located in the hanging wall and footwall that have been excluded in the current resource statement.

Red Pine Exploration Inc. Provides Wawa Gold Project Update

Red Pine Exploration Inc. provided an update in its exploration work on the Wawa Gold Project (which includes the Surluga Gold Deposit). During the Winter/Spring 2015 programs, Red Pine completed more than 5,594 metres of drilling on the Surluga deposit. In addition to providing infill drilling results for an updated 43-101 technical report, the programs identified that gold at Surluga is principally distributed in a series of high-grade, 5 to 30 metre-thick ore shoots surrounded by halos of lower grade gold mineralisation. Additional zones of gold mineralization have been identified in the hanging wall and footwall of the Surluga deposit. The Hornblende shear zone located 300 metres west of the Surluga shear, has the potential to host gold ore shoots of similar size as the shoots identified at Surluga. Both the Hornblende shear zone and the Minto shear/vein system, located 300-400 metres east of the Surluga deposit have the potential to increase the Surluga deposit gold resource. Hanging wall mineralization outside the Surluga deposit include: 2 metres at 13.65 grams per tonne gold (Minto B shear zone - SD-15-07), 12.16 metres at 3.39 grams per tonne gold.

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.

 

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