Red Pine Exploration (RPX.V) has announced it has completed a six hole drill program at the Surlaga gold deposit. The drilling was aimed to confirm the underground mineralization and was successful in doing so as the grades were confirmed as well as the fact that these zones haven’t been mined yet. The results of this six hole drill program will be incorporated in an updated resource estimate on the project.
It’s great to see the company was successful in completing its drill program and confirming its theoretical model, but we have our doubts as to the viability of the project at the current gold price. It would be very interesting to see some kind of economic study on this project but it seems like it lacks the critical mass to advance it to development.
> Click here to read the press release
Disclosure: The author holds no position in Red Pine Exploration. Please see our disclaimer for current positions.
