Initial Drilling to Assess Potential for Open Pit Production Intersects High-Grade Gold in the Jubilee Shear

Core Insights - Red Pine Exploration Inc. has announced promising initial results from its near-surface drilling program at the Wawa Gold Project, indicating significant gold grades and wide zones of alteration [1][3][4] - The ongoing drilling program is part of a fully funded 25,000 meters exploration initiative aimed at evaluating the potential for an open-pit operation in the Jubilee Shear area [1][6] - The company plans to update its 2024 Mineral Resource Estimate (MRE) and work towards a Preliminary Economic Assessment (PEA) expected to be completed in the first half of 2026 [5][6] Drilling Results - Near-surface drilling has intersected 14.51 grams per tonne (g/t) gold over 4.81 meters, including a high-grade interval of 90.40 g/t over 0.67 meters [7][11] - The ongoing drilling program has completed approximately 65% of the planned 25,000 meters, with over 14 drill holes currently in progress [6][8] - Historical drilling results in the Jubilee Mine area have shown significant gold intersections, indicating the potential for further resource expansion [13][14] Geological Insights - The drilling has identified a new gabbro dyke at depth, which is believed to be a critical control on mineralization, similar to gabbro dykes found closer to the surface [4][14] - The mineralogical transition observed in the Jubilee Shear suggests changes in the gold mineralization zones, which could lead to higher grades [14][15] - The company is focusing on building out the near-surface resource to complete an updated MRE and PEA by H1 2026 [6][14] Future Plans - The company intends to continue drilling to infill gaps between widely spaced drill holes and to explore deeper extensions of the Jubilee Shear [9][14] - Approximately 8,000 to 9,000 meters of drilling is allocated to evaluate two areas for potential open-pit operations, expected to take about three months to complete [8][9] - The results from the ongoing drilling will contribute to the updated MRE and PEA, enhancing the understanding of the project's economic viability [5][6]