With the drilling done on its gold deposit, Red Pine Exploration has started a technical and economic study to consider carving out a small open-pit gold mine, ahead of a potentially larger operation, outside Wawa.
The Toronto junior miner is evaluating the potential to begin mining operations at its Wawa Gold Project with two initial starter pits. The details will be fleshed out through a preliminary economic assessment (PEA), which the company said it has commenced and expects to release in the first half of next year.
Red Pine wrapped up 24,600-metre drilling program last month that it had started back November on its 7,000-hectare property, located 500 metres west of the Wawa airport. The property package contains a number of historic, past-producing gold mines.
Drilling had been in and around an existing deposit to better determine its size as well as going deeper down to expand its parameters in a very promising geological structural feature called the Jubilee Shear.
In a July 23 news release announcing the PEA, Red Pine released a smattering of drill results, including an impressive drill hit of 45.38 grams per tonne gold over a 3.13-metre length of core. More assay results are on the way.
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