The disaster that Red Pine Exploration (TSXV: RPX) has become seemingly continues to get worse, with the company this morning providing data on falsified assay results for the most recent five years.
Collectively, there is said to have been 382 assay reporting inconsistencies by Red Pine for the period 2019 to 2024. The inconsistencies represent a total of 95 intersections within 69 drill holes over that time period.
The majority of these falsified assay results were contained within the Jubilee and Minto Shear, however the current mineral resource estimate is said to not be impacted. As a result, the contribution from the Surluga South Zone to an updated mineral resource estimate is said to be reduced, while there is also a reduction is prospectivity of the Core Shack and the Surluga North Vein Networks, which are located near the Jubilee shear.
Red Pine states that it still believes high-grade gold mineralization exists in the extensional vein networks and shear zones, however the intensity of that mineralization is reduced compared to previous reporting. Mineralization is also said to still extent down-dip and at depth.
The company is said to be moving to immediately conduct an updated mineral resource estimate for the project.
Red Pine Exploration last traded at $0.09 on the TSX Venture.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
