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red pine exploration inc (RPX) Snapshot

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01/2/14 - C$0.12
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Market Cap
2.5M
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3.0M
EPS TTM
C$-0.0017
Shares Outstanding
249.6M
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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: --
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

red pine exploration inc (RPX) Key Developments

Red Pine Exploration Reports on its Cayenne Property Winter 2014 Drilling Program and Prepares for Spring Drilling

Red Pine Exploration Inc. announced that it is encouraged by the results from its 2014 Cayenne Property drilling program, located 110 kilometres southwest of Timmins, Ontario. Drilling identified an extension at depth of the Jefferson deposit with a geologic horizon that is the main host of the volcanogenic massive sulfide mineralization (VMS). Also, a new VMS centre was discovered 2.5 kilometres west of Red Pine's VenCan Showing with pervasive copper enrichment. Mechanized trenching is underway and the Company is currently mobilizing for its planned spring drill program of 15-20 holes totaling about 3,000 metres which will commence early next week. Following a successful financing, the Company is now well positioned for the 2014 exploration year as this allows for approximately another 18,000 metres of drilling to be completed without any additional external financing. A total of 10 exploration holes (CC14-04 to CC14-13) were drilled in January-February, 2014. Exploration efforts to date have identified several mineralized centres across a 5 kilometre strike length at Cayenne - pointing to a potential VMS camp. The winter 2014 drilling program continued to explore along the extensive strike length of the Mattabi-type volcanogenic massive sulphide (VMS) system. Red Pine is targeting a potential VMS discovery in excess of 5 million tonnes, which would be located close to extensive existing infrastructure. Jefferson Deposit: Drilling identified extensions of the Jefferson deposit both laterally and at depth. Stratigraphic and structural evidence indicates that the high grade massive sulfide zones of the Jefferson Deposit are pockets of initially larger polymetallic massive sulfide bodies. Each pocket is surrounded by stockwork material or thinner massive sulfide zones. The potential, but also the continuity of VMS mineralization in the Jefferson deposit, is evidenced by Hole CC14-05 that intersected a 30 metre long and continuous zone of semi-massive to disseminated VMS zinc-copper-lead (Zn-Cu-Pb) mineralization. This hole extends the Jefferson Deposit mineralization along the same stratigraphic horizon (Jefferson Horizon) and shows the potential to find a new zone of high grade massive sulfide mineralization either deeper or laterally along strike. Drilling planned in this area will focus on expanding the Jefferson Horizon to the east, west and north (the new exhalative horizon. Iron-rich exhalites, formed by sub-seafloor hydrothermal activity, are prospective of VMS mineralization and are a useful vector to ore according to J.M. Franklin, PhD, FRSC, PGeo. Vencan Zinc Showing: Holes CC14-10 and CC14-12 confirmed the along strike western extension of the VMS mineralization initially intersected in hole CC14-01 (27.47 metres of 9.36% zinc including 12.71 metres of 16.51% zinc). The intersected semi-massive to disseminated Zn mineralization in both holes is typical of stockwork material found stratigraphically below the massive sulfide lenses in the Vencan area. Based on its chemistry and pervasive base metal enrichments, the stockwork material intersected in holes CC14-10 and CC14-12 represents a strong proximity indicator of polymetallic VMS massive sulfide lenses.

Red Pine Exploration Provides Updated Assays for Cayenne Property

Red Pine Exploration Inc. announced that it has received updated assay results from its December 2013 drilling program. The updated assay results indicates an intersection of 27.47 metres of 9.36% zinc including 12.71 meters of 16.51% Zn which replaces the previously reported intersection of 27.47 metres of 8.02% Zn including 12.71 metres of 13.64%. Red Pine has completed 2 drilling programs on the property to-date. The December 2013 program, completed just prior to Christmas, included 3 drill holes and 10 additional holes were drilled starting in late January. The assay results for the first program. As a result of these discrepancies, the company immediately halted all further processing of the high-grade massive sulfide material from the remaining 10 holes pending the validation of the analytical and pulverisation methods for high grade material used by the certified assay lab. Following standard protocol, the company also sent both pulp and course reject samples to other accredited assay labs for verification of the results. With the confirmation by all 3 accredited labs that all assay results including lead now fall within acceptable tolerances, the company is fully satisfied that the lead assay and certified reference material issues have been addressed and rectified. The delay in receiving final analytical results from the recent drill program has forced a delay in the intended mobilization date for next drill program. The next phase of drilling consisting of 15-20 holes totaling about 4,000 metres will be initiated in April, 2014.

Red Pine Exploration Inc. Completes Second Round of Drilling at its Cayenne-Chili Property

Red Pine Exploration Inc. has completed the second round of drilling at its Cayenne-Chili Property. The company is currently conducting down-hole geophysical surveys on all of the recent drill holes, CC14-04 through CC14-13 and has requested geo-chemical analysis on all drill core, as was completed on the first round of drilling. Assays are pending with results expected in March, 2014. February 2014 Exploration Program Update: While there is considerable data yet to be received and analyzed. A total of ten exploration holes were drilled in January-February. The drill holes tested high priority geochemical and geophysical targets across a five kilometre strike length. The company utilizes X-ray fluorescence (XRF) devices as an exploration tool in identifying alteration and mineralization. Based on visual inspection and XRF analysis of the core all but one drill hole intersected massive to semi-massive sulphide sections of pyrrhotite, pyrite, sphalerite, galena and chalcopyrite. Next Scheduled Exploration Program - March 2014: Results from the geophysical down-hole surveys will be utilized in conjunction with geochemical and structural analysis to assist in drill targeting for the next phase of field exploration. In addition to continued work around targets already drilled and moving systematically along the five kilometre identified strike length, there are also multiple prospective targets have not yet drilled. Given the above, The company expects to initiate another phase of drilling in March consisting of 15-20 holes totaling about 4,000 meters.

 

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