The Costello property is underlain by strongly deformed and transposed sedimentary rock units of the Porcupine Group. Observation of outcrop has shown that the "sedimentary bedding" corresponds in fact to tectonic layering and that the rocks have experienced severe deformation. In a recent Lake Shore 43-101 report, it is mentioned that: "There has been a high degree of deformation in terms of shearing, folding, and likely faulting in the TM deposit and the relationship of the primary lithologies is more complex in three dimensions than surface plans suggest".
Mt Logano Property - Timmins, Ontario
The Mt. Logano Porphyry property consists of 162 claim units in Whitney, Shaw, Carman and Cody townships, Porcupine Mining Division, Ontario. Bedrock on the property includes the Mt. Logano quartz-feldspar porphyry, which intruded near the Deloro- Tisdale assemblages contact. Much of the gold deposition in the Porcupine Gold Camp is spatially associated with mafic/ultramafic rocks of the Lower Tisdale assemblage, and felsic intrusive rocks similar to the Mt. Logano porphyry intrusion. Recent geochronological investigation (2005) has placed the age of the Mt. Logano porphyry body at 2689 +/-1.4 Ma, the same as the Pearl Lake porphyry (2689 +/- 1.0 Ma), which has played a spatial role in major gold deposits including the Hollinger- McIntyre mines of the Porcupine Gold camp.
Base Metal Property
Cayenne-Chili Property - Swayze Belt, Ontario
The Cayenne-Chili Property consists of 57 contiguous mining claims for 8,704 hectares. The property has been subject to two major tectonic events: an earlier one generating north-south trending folds and a later one generating east-west folding. These have been interpreted as the western extension from the Larder-Cadillac deformation zone and the second a western extension from the Porcupine-Destor deformation zone to the north. In 2006 a fold nose was discovered 500m west of Jefferson deposit. The "Jefferson" is a non NI 43-101 compliant resource estimate of 30,100 tons @ 7.05% Zn and 4.58% Pb. The deposit consists of massive sulphides enriched in zinc and lead over 150m strike and 30m depth.
Historical exploration was focused on the Jefferson. In 1950, additional drilling tested the continuity of the mineralized zone to a depth of 85m. The results of this effort intersected 4.43% Zn and 1.25% Pb over 22.9m and 9.1% Zn and 11.5% Pb over 6.9m. In the 1980's, work by Falconbridge at the Jefferson concluded that the mineralization is associated with cross-cutting fractures and not strictly of the VMS type. The best hole encountered 2.7% Zn over 9.12m and 1.6% Zn over 13.83m. Another hole had 1.7% Zn over 17.2m.
Work by Red Pine in 2006 supports the Falconbridge hypothesis of the current intersections representing stringer-type mineralization and the potential exists to discover a proximal VMS deposit.
Red Pine Receives Permit for Exploration
Red Pine is pleased to announce that it has received an exploration permit from the Ministry of Northern Development and Mines to further explore the Cayenne-Chili Property in the Swayze Belt, Ontario. The new permit is good for 3 years and covers diamond drilling, airborne and surface geophysics, mechanized stripping, trenching sampling and mapping. Current work is focussing on the evaluation and interpretation of the extensive data set on the property with a field program being planned in the next few months.
More detailed information about the Company is available on the website: www.redpineexp.com.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Red Pine Exploration Inc.
Senior Vice President, Corporate Development
(416) 364-2753 (FAX)
Red Pine Exploration Inc.
President & COO
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