Augustine Resumes Drilling – Re-sampling of Historic Core redefines gold mineralization

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Figure 1 - Overview of the historic drill holes with weighted gold average increase and 2016 drill holes

The Joint Venture with Augustine Ventures Inc. or “Augustine”, Red Pine Exploration Inc., and Citabar LLP has received results for holes sampled as part of its program of sampling historic core at its Wawa Gold Project. The Company has also resumed drilling as part of its on-going exploration program.

New results from the Sampling Program include:

  • 1.30 g/t gold over 56.92 metres in S247 (intersection length) and 0.83 g/t gold over 21.18 metres (intersection length) in the Minto B Shear Zone;
  • Discovery of broad zones of gold mineralization in the hanging wall of the Surluga Deposit inferred resource (see Figure 1 and Table 1); and
  • 1.77 g/t gold over 51.21 metres in U0722L5 (intersection length) and 4.29 g/t gold over 14.63 metres in U0763L6 (intersection length) in the Surluga Deposit (Jubilee Shear Zone).

Quentin Yarie, President and Chief Executive Officer of Red Pine states, “We are quite pleased that the historic core sampling program continues to discover broad zones of gold mineralization in the hanging wall of the Surluga Deposit 1. This supports our hypothesis that the knowledge gaps the previous operators had on the controls of gold mineralization at Surluga resulted in numerous sampling gaps in the mineralized zones. Our newest sampling has uncovered an intersection that contains 3.29 g/t gold over 10.09 metres (intersection length) and we are optimistic that our historic core sampling program will have a positive impact on the gold zones of the hanging wall of the inferred resource1 and improve the potential of the Wawa Gold Project.”

Bob Dodds, President and CEO of Augustine, states, “The consistently good results coupled with the location of our gold resource1 in a safe political jurisdiction, both internationally and locally, along with ready infrastructure, adds significant potential to the Wawa Gold Project. We look forward to continuing to get good results with the resumption of the drilling program after the Christmas break. A great start to the New Year of 2017.” 

True width has not been calculated for each individual intercept currently reported as drilled length
* New gold zones for which the true widths of the reported drilling intercepts have yet to be determined. Additional drilling or sampling of additional historic holes the immediate area which will enable the true width determination.
** Structures for which true width is estimated to be between 35 and 40% of drilled length
*** Structures for which true width is estimated to be between 75 and 95% of drilled length
**** Structures for which true width is estimated to be between 55 and 60% of drilled length

Sampling of Historic Core

The current sampling of 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) continues to define additional gold in many of the historic boreholes that intersected the Jubilee Shear Zone, but also in structures of the footwall and hanging wall of the Surluga Deposit inferred resource, which already contains 1.088 million ounces of gold1. From a thorough review of the historic drilling in the Surluga Deposit, the JV concluded that many sampling gaps exist in the gold structures of the Wawa Gold Corridor identified by the JVin the course of its exploration programs.

The JV believes these sampling gaps negatively impacted the evaluation of the potential of the gold-bearing structures located outside and inside the inferred resource. The current results demonstrate that a broad zone of higher grade gold mineralization was left un-sampled in the Minto B Shear Zone (3.29 g/t gold over 10.09 metres in S247). These previously un-sampled intervals were assigned a value of 0 g/t gold and negatively impacted the inferred resource evaluation of the Surluga Deposit. The spatial distribution of the newly sampled historic boreholes with notable gold weighted average increases will positively change the current deposit model (see Figure 1).

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