07:50 AM EDT, 04/24/2024 (MT Newswires) -- Red Pine Exploration ( RDEXF ) , which gained nearly 8% yesterday, on Wednesday announced assay results from 14 drill holes representing 5,390 metres of diamond drilling from the 2023-2024 resource expansion program at the Wawa Gold Project in Northern Ontario.

"The latest drill results have intersected significant gold mineralization in the hanging wall of the Jubilee Shear and could contribute to reducing the stripping ratio under a proposed open pit scenario," Jean-Francois Montreuil, vice-president, exploration at Red Pine, said in a statement. "The intersection of significant gold mineralization below the Jubilee Shear will potentially expand the resource to the northwest.."

The program, which began in 2021, has drilled about 66,100 meters of the targeted 70,000 meters. One of the drill holes showed 4.53 grams per tonne (g/t) gold over 11.53 m, including 15.00 g/t gold over 1.14 m in SD-24-495.