Red Pine Exploration, Inc. (OTCQB: RDEXF) (TSX-V: RPX) has updated its drilling progress at the Wawa Gold Project site. RDEXF is a gold exploration company based in Toronto.
Keep RDEXF stock on your Watch List as the mineral exploration sector is growing in valuation.
RDEXF IS A MINERAL EXPLORATION PLAYER
The Wawa Gold Project is located in the Michipicoten Greenstone belt of Ontario. This area has seen major investment by several producers over the prior five years.
It contains numerous historic gold mines and is more than 6,900 hectares in size.
WAWA GOLD PROJECT PROGRESS
The Surluga Deposit within the Wawa Gold Project at the Jubilee Shear Zone exhibited significant gold mineralization.
Quentin Yarie, President and CEO of Red Pine Exploration says of the project, “Our ongoing exploration program testing the southern and northern extensions of the Jubilee Shear Zone continue to indicate that significant zones of gold mineralization remain to be discovered down-dip and beyond the footprint of the existing resources.”
FOUR DRILLS TURNING ON SITE
He adds, “With four drills turning on-site our exploration program can now test in parallel the Surluga South and North discoveries and the Darwin-Grace-Nyman target.”
In conjunction with this progress, drill core samples were delivered in security sealed bags for analysis at Actlabs in Ancaster, Ontario.
DIRECTORS ELECTED AT ANNUAL MEETING
Shareholders have approved all resolutions at the company’s annual meeting. This includes the election of six directors. They also reappointed the company’s auditors and approved a new stock options compensation plan.
At its annual meeting, shareholders of the Company elected to the RDEXF Board: Drew Anwyll, Andrew Bauman, Nils Engelstad, Rachel Goldman, Paul Martin and Quentin Yarie.
RDEXF MOVES TO A ‘FIXED NUMBER’ STOCK OPTION PLANS
At the meeting, RDEXF also amended its stock option plan. It transitioned from a ‘rolling’ plan to a ‘fixed number’ plan. It has the effect of reducing the number of stock options available to the Company to use as part of its compensation program.
Shareholders also approved this resolution. The grant of options is subject to the approval of the TSX Venture Exchange. Keep RDEXF (TSX-V: RPX) stock on your Watch List as mineral stocks are spiking in value.
