TORONTO, ON / ACCESSWIRE / November 22, 2016 / The Manager, Red Pine Exploration Inc. (TSXV: RPX) ("Red Pine"), of the Joint Venture with Augustine Ventures Inc. (CSE: WAW) ("Augustine") and Citabar LLP has received results for 33 holes sampled as part of the program of logging and sampling of historic core at its Wawa Gold Project.
Highlights from the sampling program so far:
New results include over 56.39 metres @ 2.68 g/t gold in hole U1694L4 and over 69.95 metres @ 2.21 g/t gold in U1652L5 (see Table 1).
Increase in the gold weighted average (sum of individual intercepts gold grade times length) for 13 of the 33 sampled holes, and an average increase of the intersection length for 9 of the 33 holes (see Table 1).
Discovery of two gold zones, one in the footwall of the Jubilee Shear Zone and the other in the Jubilee Shear Zone near the historic Jubilee Gold Mine.
Quentin Yarie, President and Chief Executive Officer of Red Pine states, "These assay results and calculated increases in the gold weighted average in over one-third of the sampled historic drill holes reiterates the potential upside of this sampling program. The results indicate that significant gold remains to be identified in the core of the current inferred resource."
Bob Dodds, President & CEO of Augustine, states, "We are very pleased with the positive results and will expand our efforts to indentify gold in the pit shell which would serve to reduce the strip ratio which in turn would positively affect the economics of a potential mine on this property"
Sampling of historic core
Following its 2015 exploration programs, the Joint Venture observed that many of the intersections in the historic boreholes of the Jubilee Shear Zone, which currently hosts a 1.088 million ounces inferred resource in the Surluga Deposit1, were not entirely sampled. The Joint Venture concluded that these sampling gaps were negatively impacting the inferred resource, considering that all these un-sampled intervals were assigned a value of 0 g/t gold in the last resource statement.
The current sampling of 42,000 metres of historic drilling (from 318 underground and 119 surface drill holes) is demonstrating that gold remains to be found in many of the un-sampled intersections of the Jubilee Shear Zone (see also October 5, 2016 news release). The spatial distribution of the historic boreholes with notable gold weighted average increase also indicates that the Surluga Deposit is impacted by those sampling gaps (see Figure 1). The program is progressively filling in the sampling gaps in the gold-bearing shear zones of the Wawa Gold Corridor and increasing the property's gold inventory.
Figure 1 - Plan Showing Drill Holes with Significant Changes
To view an enhanced version of Figure 1, please visit: http://www.accesswire.com/uploads/23702_a1479847143626_85.jpg
Table 1 -Before and After Intersections with a cutoff of 0.2 g/t gold
| Hole | Before/ After Sampling | Structure | From (m) | To (m) | Intersection length (m)* | Gold weighted average (g/t*m) | Grade (g/t gold) | % changes gold weighted average |
| U0666L5 | Before | Jubilee | 11.28 | 28.04 | 16.76 | 15.23 | 0.91 | 18.84 |
| After | 11.28 | 34.14 | 22.86 | 18.10 | 0.79 | |||
| U0679L5 | new zone | 120.09 | 123.84 | 3.75 | 1.34 | 0.36 | ||
| U1652L5 | Before | Jubilee | 17.07 | 82.45 | 65.38 | 152.43 | 2.33 | 1.61 |
| After | 12.50 | 82.45 | 69.95 | 154.89 | 2.21 | |||
| U1661L5 | Before | Jubilee | 1.22 | 29.11 | 27.89 | 80.31 | 2.88 | 0.7 |
| After | 1.22 | 31.70 | 30.48 | 80.87 | 2.65 | |||
| U1672L5 | Before | Jubilee | 0 | 104.24 | 104.24 | 4.39 | 0.04 | 779.23 |
| After | 0 | 109.42 | 109.42 | 38.62 | 0.35 | |||
| U1675L5 | Before | Jubilee | 0 | 24.38 | 24.38 | 85.52 | 3.51 | 1.64 |
| After | 0 | 27.43 | 27.43 | 86.92 | 3.17 | |||
| U1686L4 | Before | Jubilee | 7.62 | 45.72 | 38.1 | 38.71 | 1.02 | 22.66 |
| After | 7.62 | 45.72 | 38.1 | 47.48 | 1.25 | |||
| U1687L4 | Before | Jubilee | 6.1 | 26.52 | 20.42 | 58.23 | 2.85 | 3.73 |
| After | 3.81 | 29.87 | 26.06 | 60.40 | 2.32 | |||
| U1693L4 | New Zone In Jubilee Shear Zone | Hole was | ||||||
| 17.53 | 19.54 | 2.01 | 4.21 | 2.09 | historically un- | |||
| sampled | ||||||||
| U1694L4 | Before | Jubilee | 0.91 | 57.30 | 56.39 | 137.04 | 2.43 | 10.43 |
| After | 0.91 | 57.30 | 56.39 | 151.33 | 2.68 | |||
| U1697L4 | Before | Jubilee | 0 | 56.39 | 56.39 | 23.03 | 0.41 | 5.78 |
| After | 0 | 56.39 | 56.39 | 24.36 | 0.43 | |||
| U1698L4 | Before | Jubilee | 3.81 | 4.57 | 0.76 | 0.11 | 0.14 | 815.09 |
| After | 0.00 | 4.57 | 4.57 | 0.97 | 0.21 | |||
| U1703L4 | Before | Jubilee | 18.9 | 57.3 | 38.4 | 60.30 | 1.57 | 4.39 |
| After | 18.9 | 58.37 | 39.47 | 62.95 | 1.59 | |||
| U1712L4 | Before | Jubilee | 20.12 | 20.73 | 0.61 | 0.16 | 0.27 | 1721.49 |
| After | 16.61 | 20.73 | 4.12 | 3.00 | 0.73 |
| Hole | Before/ After sampling | Structure | From (m) | To (m) | Intersection length (m)* | Gold weighted average (g/t*m) | Grade (g/t gold) | % changes gold weighted average |
| U0494L5 | Jubilee | No significant changes | ||||||
| U0546L5 | Jubilee | No significant changes | ||||||
| U0568L5 | Jubilee | No significant changes | ||||||
| U0569L5 | Jubilee | No significant changes | ||||||
| U0572L5 | Jubilee | No significant changes | ||||||
| U0573L5 | Jubilee | No significant changes | ||||||
| U0576L5 | Jubilee | No significant changes | ||||||
| U0596L5 | Jubilee | No significant changes | ||||||
| U0599L5 | Jubilee | No significant changes | ||||||
| U0600L5 | Jubilee | No significant changes | ||||||
| U0669L5 | Jubilee | No significant changes | ||||||
| U1662L5 | Jubilee | No significant changes | ||||||
| U1663L5 | Jubilee | No significant changes | ||||||
| U1664L5 | Jubilee | No significant changes | ||||||
| U1702L4 | Jubilee | No significant changes | ||||||
| U1705L4 | Jubilee | No significant changes | ||||||
| U1709L4 | Jubilee | No significant changes | ||||||
| U1710L4 | Jubilee | No significant changes | ||||||
| U1711L4 | Jubilee | No significant changes |
Other Activities at the Wawa Gold Project
The Joint Venture continues to trench and map key structures in the hanging-wall and footwall of the inferred resource, the Jubilee Shear Zone and its interpreted extension south of the Parkhill Fault. This mapping and trenching program is concurrent with the current drilling program (see news release of November 16, 2016) that targets the northern extension of the Jubilee Shear Zone and the Wawa Gold Corridor. The Joint Venture anticipates additional results from the trenching program in the coming weeks.
On-site Quality Assurance/Quality Control ("QA/QC") Measures
Drill core samples are transported in security-sealed bags for analyses at Activation Laboratories Ltd. in Timmins, Ontario. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The coarse rejects of the samples remain in storage at Activation Laboratories Ltd. in Timmins, Ontario if further work or verification is needed.
The Manager has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Manager inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.
Qualified Person
Quentin Yarie, P Geo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release.
1NI 43-101 inferred resource of 1,088,000 ounces of gold at 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources, contained in 19.82 million tonnes open along strike and at depth. The Cut-off grades are based on a gold price of US$1,250 per once and a gold recovery of 95 percent ((Independent Technical Report, Wawa Gold Project, Wawa, Ontario: Ronacher and McKenzie Geoscience and SRK Consulting (Canada) Inc (effective June 30, 2016)). The report is available on www.SEDAR.com under Augustine's profile.
About Augustine Ventures Inc.
Augustine Ventures Inc. is a junior gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the CSE under the symbol "WAW".
For additional information contact:
Augustine Ventures Inc.
Robert (Bob) Dodds, President & CEO
Tel: (416) 363 2528
Cell: (905) 599-2025
Email: bdodds@augustineventures.com
This news release may contain forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent filings with Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
SOURCE: Augustine Ventures Inc.
ReleaseID: 449593
