19:34:47 EDT Sat 07 Sep 2024
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Red Pine Exploration Inc (3)
Symbol RPX
Shares Issued 190,711,334
Close 2024-05-13 C$ 0.09
Market Cap C$ 17,164,020
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Globe says Red Pine accuses ex-CEO of data tampering

2024-05-13 08:39 ET - In the News

The Globe and Mail reports in its Saturday edition that nine-cent junior Red Pine Exploration has accused its former chief executive officer of manipulating data on hundreds of its gold assays over the past decade. The Globe's Niall McGee writes that the Toronto miner first raised questions about its assays on May 1, saying it found inconsistencies in some of its drilling results pertaining to its Wawa gold project. On Friday, Red Pine said the inconsistencies stemmed from the "unauthorized manipulation of certain assay results" by the company's former CEO. In the dog house is Quentin Yarie, who stepped down as CEO of Red Pine in February. Red Pine cut a range of estimates for its resource at its Wawa project, and indicated further reductions are possible once more investigative work is conducted. The company previously said drilling results showed it was holding a resource of 700,000 ounces of "inferred and indicated" gold, a category that means the deposit had not yet been proven. Red Pine said the lab that carried out the assays sent its results directly to its former CEO. Red Pine adds it is in the process of reporting the alleged assay tampering to the Ontario Securities Commission and is weighing other legal options.

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