Red Pine Announces Engagement of GoldSpot Discoveries to Examine the Wawa Gold Project
TORONTO, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Red Pine Exploration Inc. (TSX–V: RPX, OTCQB: RDEXF) (the “Company” or “Red Pine”) announces it has engaged GoldSpot Discoveries
(TSXV: SPOT; OTCQX: SPOFF), to apply its proprietary machine learning technology and greenfield geoscience expertise on the Wawa Gold Project. GoldSpot Discoveries (“GoldSpot”) will bring its
proven artificial intelligence expertise that has previously led to important mineral discoveries.
GoldSpot is a technology company focused on developing artificial intelligence technologies for the mining and exploration sector. GoldSpot is working with some of the leading exploration and mining names in the industry, applying their cutting-edge algorithms to significantly increase the efficiency and success rate of mineral exploration.
The Company has an extensive land package that spans over 6,900 hectares in the Michipicoten greenstone belt and will focus GoldSpot on areas with the least information so that it can efficiently plan exploration in these areas. There are several past producing mines on the property that warrant further investigation and GoldSpot’s input will allow the Company to expand exploration beyond its currently identified high priority targets.
The airborne magnetic data is a good depiction of the complex geology of the Wawa Gold Corridor. The Company’s focus has been in areas like the Historic Surluga and Minto mines where the preponderance of information was readily available. These areas represent just a small percentage of the property which comprises a large land package with numerous existing high-value gold targets.
With the use of GoldSpot’s technology and new data acquisition methods, the Company will be able to refine its discovery process by leveraging sophisticated and cost-efficient targeting software to delineate drill-ready locations to prioritize, a complimentary aspect to Red Pine’s technical and geological team with a strong history of discovery success.
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“We have excellent resources for GoldSpot to target using their technology, including a full suite of geophysical, geochemical, geology and structural databases. GoldSpot technology will enable us to expand our understanding of the gold system in areas of our property that we have not explored yet,” said Quentin Yarie, CEO and President of Red Pine Exploration. “With the recent success of the initial 2021 drilling program and the completion of the November flow-through financing for aggregate gross proceeds of C$8.4 million, the Company is working to expand upon the current NI 43-101 compliant resource with 1,307,000 tonnes at 5.47 g/t gold for 230,000 ounces in the indicated category and 2,716,000 tonnes at 5.39 g/t gold for 471,000 ounces in the inferred category contained between surface to 350 meters depth.”