08:48 AM EDT, 08/28/2024 (MT Newswires) -- Red Pine Exploration ( RDEXF ) on Wednesday released an updated independent mineral resource estimate (MRE), inclusive of an open pit and underground mineral resource, at the Wawa Gold Project in Ontario.

The updated MRE has added significantly to the 2019 MRE, with an Indicated Mineral Resource of 14.7 million tonnes grading 1.8 grams per tonne gold (g/t Au) containing 842,000 ounces of gold and an Inferred Mineral Resource of 16.2 million tonnes grading 1.6 g/t Au containing 843,000 ounces of gold, inclusive of both open pit and underground.

"We are thrilled to see this increase of approximately 150% in total ounces of gold in the updated MRE. This significant increase validates the approximately 65,000 metres of strategic exploration drilling completed over the past several years," CEO Michael Michaud said. "The updated MRE not only shows a material increase in the size of the deposit, but it also significantly increases our confidence in the data and the quality of the deposit and reinforces our vision for a potential high-quality open pit and sizeable higher-grade underground mine."