TORONTO, June 17 /CNW/ - Red Pine Exploration Inc. ("Red Pine" or the
"Company") (TSX VENTURE:RPX) announces that preliminary magnetic, VTEM and
radiometric airborne survey data have been received from Geotech Ltd. for Red
Pine's Abitibi-West Property located in the Central Swayze Greenstone Belt,
southwest of Timmins, Ontario. The 925 line-kilometre airborne geophysical
survey was flown over three AEM blocks - the Denyes-Swayze Block, the Dore
Block and the Heenan Block. These three areas were defined within the
Abitibi-West Property to be surveyed as an enhancement in following up
positive results generated by Red Pine's initial 2007 exploration program and
numerous published OGS geochemical and geological surveys.
Numerous Anomalies Identified on all Blocks Flown
Numerous VTEM and radiometric anomalies resulted from the recent surveys
on all three blocks flown; many of them associated with favorable geology
similar to gold-bearing horizons in both the Porcupine and Kirkland Lake Gold
Camps. Preliminary interpretation of the high-resolution magnetic data has
defined several prospective geological structures that are coincident with
radiometric and VTEM anomalies and are also highly prospective for gold.
This high-resolution airborne geophysical survey has provided to-date
invaluable structural and lithological information regarding the underlying
geology of the Property. This new survey data, in conjunction with available
geological and geophysical information, will be the focus of continued
interpretation that will direct the upcoming exploration program.
Red Pine will commence reconnaissance investigation of highly prospective
airborne geophysical anomalies beginning June 22, 2009.
Encouraging results from Red Pine's Abitibi-West Project will be
available as the program evolves. Positive results will be followed up with
mechanical trenching and channel sampling.
Soil Geochemical Surveying
Upon airborne survey completion and after consideration of survey
results, Red Pine will carry out soil geochemical surveys over prospective
parts of the Abitibi-West Property. Current sampling techniques will be
implemented in an effort to define potential target areas that will be subject
to further geological investigation and evaluative techniques given positive
Costello Property Update
On Red Pine's Costello Property, located in Bristol Township near the
Lake Shore Gold and West Timmins Properties, the Company is reviewing past
work in order to determine its overall situation with respect to recent
discoveries in the area. Red Pine will formulate an exploration program that
will best test the gold potential of the Property.
In addition, soil geochemical surveys will be carried out over the
Property during the summer field season. Encouraging results will be followed
up by ground geophysical surveys, trenching or diamond drilling.
About the Properties
The Abitibi-West Property is a major land package (372 claim units
totalling 5,952 hectares) located west of Timmins in Dore, Heenan, Swayze,
Denyes and Marion townships.
The Property is located within the Swayze Greenstone Belt, which
represents the western extension of the prolific Abitibi greenstone belt (same
age, different volcanic constructs). The Swayze greenstone belt is connected
to the eastern Abitibi by two bands of strongly deformed supracrustal rocks.
The northern band is considered to mark the western extension of the
Porcupine-Destor Deformation Zone, which is the major structure associated
with gold deposits in the Porcupine Gold Camp around Timmins. The southern
band marks the western extension of the Larder Lake Deformation Zone, a major
structure related to gold deposits extending right across the southern Abitibi
from the southern Swayze, then Matachewan, Kirkland Lake and through to Val
The Property also features basinal structures which developed as a result
of movement and fracturing along splays of these major deformation zones.
There are late Archean alkaline quartz-feldspar and feldspar porphyry sills,
as well as conglomeratic units that were deposited in the basins. Of prime
importance, these basins are of Timiskaming age and appear similar to units
that are spatially associated with gold deposits in both the Porcupine and
Kirkland Lake gold camps.
The Costello Property occurs immediately to the east of Lake Shore Gold's
new Timmins West (Holmer) gold deposit that is currently under active
development (shaft sinking).
Like Timmins West, the Costello Property's land position has been
neglected historically and is probably similar to the mineralized system that
hosts the Timmins West deposit along and beside the Bristol fault - a
structure that is parallel to the Porcupine-Destor Deformation Zone - the
largest of a series of parallel deformation zones that are structurally
associated with gold mineralization in the Porcupine Gold Camp.
A total of 1,295,000 options were reissued to Directors, Officers and
Consultants of the Company on June 16th, 2009 under the terms of the incentive
stock option plan of the Company filed with the TSX Venture Exchange and
approved by shareholders at the last Annual General Meeting of Shareholders of
the Company held on January 27, 2009. The options are exercisable at a price
of $0.10 per share for a period of four years and are subject to a four-month
hold period from the date of the issuance thereof.
Randall Salo, P.Geo. is the Exploration Manager and is overseeing the
field exploration program on behalf of Red Pine, and is the qualified person
for the technical information contained in this press release.
WARNING: The statements made in this news release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially from
expectations and projections set out herein.
For further information:
For further information: Brent Nykoliation, Vice President of Business
Development, (416) 364-7024, (416) 364-2753 (FAX),
firstname.lastname@example.org, http://www.redpineexp.com or Kirk McKinnon,
President and CEO; Richard Schlur, Chief Operating Officer and CFO