02:16 PM EDT, 05/15/2024 (MT Newswires) -- Red Pine Exploration ( RDEXF ) on Wednesday provided an update on its investigations into the reporting inconsistencies in certain drill core assay results from its Wawa gold project in Ontario.

The company said there were 382 assay reporting Inconsistencies out of a total of 60,000 assay results for the 2019-2024 period, representing 95 intersections contained within 69 drill holes.

The previous conclusion that high-grade gold mineralization exists in the extensional vein networks and shear zones of the Wawa Gold Project remains unchanged, Red Pine said. However, the intensity of that high-grade mineralization is reduced by the corrected assay results. The corrected results do not change the conclusion previously made that the mineralized system extends at depth in the Jubilee shear system and that mineralization exists in those down-dip extensions.

Red Pine is immediately proceeding to complete an updated National Instrument 43-101 Technical Report for the Wawa project. This update will include 65,000 to 70,000 meters of additional drilling conducted since the current mineral resource estimate in the NI 43-101 Technical Report dated June 21, 2023.

The company's shares were last seen up $0.01 to $0.10 on the TSX Venture Exchange.

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