11:11 AM EST, 02/04/2025 (MT Newswires) -- Red Pine Exploration ( RDEXF ) reported Tuesday the latest drilling update at the Wawa gold project in Ontario.

The company said two drills are now operating on site, working towards completion of a 25,000-meter drill program.

The two drills are now testing the deep extension of the Jubilee shear beyond the 2024 resource estimate, with three drill holes now completed.

Red Pine said it has also received assay results from the relogging of 2024 drill holes designed to test the Jubilee Shear south of the Parkhill Fault.

The company said relogged drill core found significant gold mineralization grading 5.81 grams per tonne gold over 2.16 meters at depth in the Jubilee Shear.

"We are excited to commence drilling the Jubilee Shear at depth which has already intersected alteration, veining and visible gold, confirming that the deposit is larger than defined in the MRE," said chief executive Michael Michaud. "We anticipate receiving the assay results associated with this drilling later this month."

Red Pine shares were last seen up $0.005 to $0.12 on the TSX Venture Exchange.