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Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") is pleased to report drilling results from its 2021 drilling program. Hole SD-21-308 discovered significant mineralization 140 m down-dip of the resource boundary in the northern part…

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Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") is pleased to report drilling results from its 2021 drilling program. Hole SD-21-308 discovered significant mineralization 140 m down-dip of the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear Zone. This new zone, starting at approximately 240 metres vertical depth and named the Surluga North Discovery, has the potential to expand the current resource of the Surluga Deposit at the Wawa Gold Project.

Highlights of the on-going drilling program ( Figure 1 )

  • SD-21-308 intersected a mineralized envelope covering 27.26 metres estimated true width (TW) in the Jubilee Shear Zone:
    • 18.21 g/t gold over 1.95 metres (TW)
    • 3.90 g/t gold over 4.47 metres (TW) including 18.14 g/t gold over 0.82 metre (TW)
  • Visible gold has been observed in the following holes with assays pending:
    • In veins and shear zones adjacent to the Jubilee Shear Zone in SD-21-309 and SD-21-313
    • In the Surluga South discovery (Jubilee Shear Zone South) in SD-21-312A
    • In the Nyman Shear Zone hole DG-22-317

"Our on-going 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. Hole SD-21-308 opened a potential extension of gold mineralization beyond the current boundary of the Surluga Deposit resource which is less than 250 metres below surface.

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." – Quentin Yarie, President and CEO of Red Pine Exploration.

Figure 1 accompanying this announcement is available at:
https://prdesk.globenewswire.com/ResourceLibrary/ResourceLibrary/GetDynamicThumbnailContentContent/?resourceId=35681e6b-4bd5-484a-8bc6-08da61274840&maxHeight=280&maxWidth=280

Diamond Drilling

As part of the Wawa Gold Project's on-going drilling program, Red Pine is testing the northern and southern extensions of the Surluga Deposit, and the extension of the Minto Mine Deposit beyond the footprints of their respective resources. One drill rig is active at the northern end of the Surluga Deposit and two drill rigs are active at the southern end of the Surluga Deposit. The southern drill rigs are also concurrently testing the Minto Mine Shear Zone. The fourth drill rig is currently testing the Grace-Nyman shear system near the historic Darwin-Grace Mine.

Drilling at the northern end of the Surluga Deposit

At the northern end of the Surluga Deposit, drilling indicated that the Jubilee Shear Zone extends down-dip of the current limit of the inferred resource. This is supported by the results from holes SD-21-299 and SD-21-301 that confirm the extension of gold mineralization in the Jubilee Shear Zone. The significant gold intersection in SD-21-308 further indicates that shallow and significant mineralization may be discovered in the unexplored Jubilee Shear Zone down-dip of the resource. Drilling in 2022 will continue to test the Jubilee Shear Zone to define the size and attributes of the zone discovered in SD-21-308 and will also test for other undiscovered zones of mineralization in that area.

Drilling in the Surluga South and Sadowski gold zones

At the southern end of the Surluga Deposit, holes SD-21-305A and SD-21-307 successfully intersected the Jubilee shear over 500 metres away from the boundary of the Surluga Resource.

The southern drill rigs also continue to extend the footprints of the Minto Vein that is forming the Minto Mine Gold deposit. The Minto Vein, with variable intensity of mineralization, was successfully intersected in holes SD-21-309, 312A, 313 and 319. The assays for these Minto Vein intersections remain pending.

Table 1 – Significant Drilling Intersections from the 2021 Drilling Program in the Wawa Gold Corridor

Hole From (m) To
(m)
Length (m)* Est. True Width (m) Visible Gold Gold (g/t) Zone
SD-21-303 171.54 173.81 2.27 2.73 Quartz Vein
SD-21-304

211.80 215.80 4.00 0.56 Quartz vein
257.80 258.79 0.99 0.93 2.96 Jubilee Shear Zone
SD-21-305A





56.12 57.14 1.02 Yes 8.39 Sadowski Vein
295.31 298.30 2.99 2.28 1.80 Minto Vein
683.38 684.37 0.99 0.85 1.16 Jubilee Shear Zone – Surluga South discovery

689.32 690.32 1.00 0.86 Yes 0.88
SD-21-306

261.85 263.00 1.15 1.12 Yes 1.75 Jubilee Shear Zone

275.06 279.08 4.02 3.92 0.64
SD-21-307



88.53 89.57 1.04 1.94 Sadowski Vein
589.47 592.45 2.98 2.78 1.41 Jubilee Shear Zone – Surluga South discovery

597.12 607.46 10.34 9.65 0.63
SD-21-308







88.50 89.92 1.42 Quartz Vein
257.45 287.57 30.12 27.26 Yes 2.01 Jubilee Shear Zone – Surluga North Discovery
Including
257.45 259.60 2.15 1.95 Yes 18.21
283.58 284.49 0.91 0.82 18.14

* Results in zones labelled Quartz vein and Disseminated sulfides are presented as core length as they represent new mineralized zones discovered in the Jubilee Stock with an unknown geometry and exploration potential. Additional drilling is necessary to estimate the true width of those zones of mineralization.

Table 2 - Coordinates of the Reported Holes

Hole ID Easting Northing Elevation Azimuth (start) Dip (Start) Final Depth (m) Area Status
SD-21-303 668581 5317216 390.90 324.00 72.00 498.00 JSZ North Completed
SD-21-304 668581 5317216 390.90 300.00 70.00 390.00 JSZ North Completed
SD-21-305 668474 5315394 353.15 282.00 83.00 36.00 JSZ South Abandoned because of deviation
SD-21-305A 668474 5315394 353.15 284.00 83.00 705.00 JSZ South Completed
SD-21-306 668639 5317299 395.80 296.00 50.00 390.00 JSZ North Completed
SD-21-307 668474 5315394 353.15 303.00 72.00 708.00 JSZ South Completed
SD-21-308 668639 5317299 395.80 296.00 75.00 501.00 JSZ North Completed
SD-21-309 668537 5315368 359.10 298.00 78.50 714.00 JSZ South Completed / assays pending
SD-21-310 667868 5316651 364.60 305.00 57.00 399.00 Hornblende Completed / assays pending
SD-21-311 668639 5317299 395.80 310.00 45.00 58.00 Abandoned Completed / assays pending
SD-21-312 668467.2 5315330 353.90 293.00 77.00 65.00 Abandoned Completed / assays pending
SD-21-312A 668467.2 5315330 353.90 297.00 77.00 703.00 JSZ South Completed / assays pending
SD-21-313 668537 5315368 359.10 298.00 82.50 750.00 JSZ South Still drilling/ assays pending
DG-21-314 668446 5313502 344.90 5.00 45.30 87.00 Nyman Shear Zone Completed / assays pending
DG-21-315 668446 5313502 344.90 305.00 48.20 90.00 Nyman Shear Zone Completed / assays pending
DG-22-316 668446 5313502 344.90 310.00 81.00 96.00 Nyman Shear Zone Completed / assays pending
DG-22-317 668446 5313502 344.90 260.00 57.00 99.00 Nyman Shear Zone Completed / assays pending

* "JSZ" refers to the Jubilee Shear Zone.

Figure 2 accompanying this announcement is available at:
https://prdesk.globenewswire.com/ResourceLibrary/ResourceLibrary/GetDynamicThumbnailContentContent/?resourceId=8cb5fcf8-327f-4621-b863-3a4181daa297&maxHeight=280&maxWidth=280

Figure 3 accompanying this announcement is available at:
https://prdesk.globenewswire.com/ResourceLibrary/ResourceLibrary/GetDynamicThumbnailContentContent/?resourceId=d79463d8-6c20-41de-9cf0-2805a6e630e3&maxHeight=280&maxWidth=280

On-site Quality Assurance/Quality Control ("QA/QC") Measures

Drill core samples were transported in security sealed bags for analyses at Actlabs in Ancaster, Ontario. Individual samples were labelled, placed in plastic sample bags and sealed. Groups of samples were then placed into durable rice bags and then shipped. The residual coarse reject portions of the samples remain in storage if further work or verification is needed.

Red Pine has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, Red Pine inserts external gold standards (low to high grade) and blanks every 20 samples in addition to random standards, blanks, and duplicates.

Qualified Person

Quentin Yarie, P.Geo. and Chief Executive Officer of Red Pine and the Qualified Person, as defined by National Instrument 43-101, has reviewed, and approved the news release's technical information.

COVID-19 Precautions

Red Pine has developed and implemented compliant precautions and procedures according to guidelines for the Province of Ontario. Protocols were put in place to ensure
our employees' and contractors' safety, thereby reducing the potential for community contact and spreading of the virus.

About Red Pine Exploration Inc.

Red Pine Exploration Inc. is a gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the TSX Venture Exchange under the symbol "RPX" and on the OTCQB Markets under the symbol "RDEXF".

The Wawa Gold Project is in the Michipicoten greenstone belt of Ontario, a region that has seen major investment by several producers in the last five years. Its land package hosts numerous historic gold mines and is over 6,900 hectares in size. The Company's Chairman of the Board is Paul Martin, the former CEO of Detour Gold. The Board has extensive and diverse experience at such entities as Alamos, Barrick, Generation Mining, Detour Gold and Paramount Gold Nevada Corp. Led by Quentin Yarie, CEO, who has over 25 years of experience in mineral exploration, Red Pine is strengthening its position as a major mineral exploration and development player in the Michipicoten region.

For more information about the Company, visit www.redpineexp.com

Or contact:

Quentin Yarie, President and CEO, (416) 364-7024, qyarie@redpineexp.com

Or

Tara Asfour, Investor Relations Manager, (514) 833-1957, tasfour@redpineexp.com

1 National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. Golder Associates Ltd, report effective August 18, 2021.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.


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OraSure Technologies’ CFO Makes Bold Insider Purchase, Reigniting Investor Confidence

Executive Kenneth McGrath’s $500,000 buy read as promising signal about future for diagnostic test developer OraSure Technologies (NASDAQ:OSUR) saw…

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Executive Kenneth McGrath’s $500,000 buy read as promising signal about future for diagnostic test developer

OraSure Technologies (NASDAQ:OSUR) saw a stock price re-rate on Thursday, climbing 11% after investors became aware of its CFO Kenneth McGrath buying shares in the diagnostic test developer.  This latest rally in OSUR stock, gives traders and investors hope that the strong momentum from the beginning of 2023 might return.

OSUR shares had mounted an impressive 54% rally for 2023 through to May 10, when the first-quarter results update spooked investors. 

The CFO’s trade was initially spotted on Fintel’s Insider Trading Tracker following the filing with the Securities and Exchange Commission.

Big Holdings Boost

In the Form 4 filing, McGrath, who assumed CFO duties in August 2022, disclosed buying 100,000 shares on May 30 in the approved trading window that was open post results.

McGrath on average paid $4.93 per share, giving the total transaction a value just shy of $500,000 and boosted his total share count ownership to 285,512 shares.

The chart below from the insider trading and analysis report for OSUR shows the share price performance and profit made from company officers in previous transactions:

OraSure Technologies

Prior to joining OraSure, McGrath had an impressive eight-year tenure at Quest Diagnostics (NYSE:DGX), where he rose to the position of VP of Finance before departing. This is the first time that the CFO has bought stock in the company since August 2022. It is also worth noting that the purchase followed strong Q1 financial results, which exceeded Street forecasts.

Revenue Doubles

In its recently published Q1 update, OraSure Technologies told investors that it generated a whopping 129% increase in revenue to $155 million, surpassing analyst expectations of around $123 million. 

Notably, the revenue growth was driven primarily by the success of OraSure’s COVID-19 products, which accounted for $118.4 million in revenue for the quarter and grew 282% over the previous year.

The surge in revenue for this product was largely driven by the federal government’s school testing program, which led to record test volumes. However, it is important to note that demand for InteliSwab is expected to decline in Q2 2023, prompting OraSure to scale down its COVID-19 production operations. As part of its broader strategy to consolidate manufacturing, the company plans to close an overseas production facility.

While the COVID-19 products division has been instrumental in OraSure’s recent success, its core business delivered stable flat sales of $36.6 million during the quarter. 

In terms of net income, OraSure achieved an impressive result of $27.2 million, or $0.37 per share, in Q1, marking a significant improvement compared to the loss of $19.9 million, or a loss of $0.28 per share, in the same period last year. This result exceeded consensus forecasts of $0.16 per share. As of the end of the quarter, the company held $112.4 million in cash and cash equivalents.

Looking ahead to Q2, OraSure has provided revenue guidance in the range of $62 to $67 million, reflecting the lower order activity from the US government with $25 to $30 million expected sales for InteliSwab. The declining Covid related sales have been a core driver of the share price weakness in recent weeks.

While sales are likely to fall in the coming quarters, one positive for the company is its low debt balance during this period of rising cash rates. The chart below from Fintels financial metrics and ratios page for OSUR shows the cash flow performance of the business over the last five years.

OraSure Technologies

Analyst Opinions

Stephen’s analyst Jacob Johnson thinks that outside of Covid, OSUR continues to execute on several cost and partnership initiatives which he believes appears to be bearing fruit. Johnson pointed out that three partnerships were signed during the quarter.

The analyst thinks that the ex-Covid growth story will be the new focus for investors from now on. The brokerage maintained its ‘equal-weight’ recommendation and $6.50 target price on the stock, matching Fintel’s consensus target price, suggesting OSUR stock could rise a further 29% in the next 12 months. 

The post OraSure Technologies’ CFO Makes Bold Insider Purchase, Reigniting Investor Confidence appeared first on Fintel.

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UC Davis C-STEM trains Redlands teachers on bringing computer science into math

Twenty-five teachers from Redlands Unified School District in southern California recently completed training in integrating computer science into math…

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Twenty-five teachers from Redlands Unified School District in southern California recently completed training in integrating computer science into math education through a joint program offered by the University of California, Davis, and UC Riverside Extension. The Joint Computer Science Supplementary Teaching Credential Authorization Program has helped Redlands address gaps in student opportunity and achievement, and teachers’ skills.

Credit: Redlands Unified School District

Twenty-five teachers from Redlands Unified School District in southern California recently completed training in integrating computer science into math education through a joint program offered by the University of California, Davis, and UC Riverside Extension. The Joint Computer Science Supplementary Teaching Credential Authorization Program has helped Redlands address gaps in student opportunity and achievement, and teachers’ skills.

“Improving math instruction for student success is the most challenging task in education. Redlands partnered with UC Davis to make math instruction with computer science a reality for many of our students who have historically disconnected from learning math,” said Ken Wagner, assistant superintendent of Redlands Unified School District. “More students are demonstrating resilience and persistence in their math progression than ever before, which to us, is an immeasurable outcome.”

Redlands is the first school district in the nation that has 25 teachers who have gone through four college-level courses needed to earn their credential. This innovative practice is transforming public K-12 math and computer science education.

“C-STEM training and use of the robotics and programming skills that are taught has been the best professional development training of my 28-year career,” said teacher Roland Hosch. “I am very grateful to be a part of it and my classroom is a more efficient and more effective place to learn because of it.”

Transforming math education

The UC Davis Center for Integrated Computing and STEM Education, or C-STEM, program aims to transform K-12 math, computer science and STEAM (science, technology, engineering, arts and mathematics) education through integrated learning. Students learn to solve math and algebra problems through coding and by programming small, modular robots. The C-STEM Math-ICT curriculumprovides up to 13 years of integrated math and computer science teaching from kindergarten through high school. C-STEM courses have UC A-G status, satisfying admissions requirements for the University of California and California State Universities.  

Redlands USD implemented the C-STEM program in 2018 to narrow the achievement gap in math and address the opportunity gap in computing. The district has expanded from two middle school teachers initially to 35 teachers, including all the district’s middle and high schools as well as six elementary schools, in 2022-23. 

Redlands has seen results with the program. From the 2018-19 school year to 2021-22, average scores on the mathematics diagnostic testing project (MDTP) rose by more than 13% in C-STEM classes compared to peers in traditional math classes in the same schools. (Redlands students can choose either a C-STEM math track, plus a computer science class, or a traditional math class.) 

“C-STEM brings joy into the classroom,” said Deepika Srivastava, STEAM coordinator for the Redlands school district. If you give a student a worksheet of math problems and they get 20 or 30% right, it tells the student “You’re bad at this,” she said. 

“But if they are trying to solve a problem by writing a program, they can get it 20 or 30% right, get some feedback, and improve. When you’re solving a math problem by coding, it’s an iterative process, there’s constant feedback,” she said. “It encourages students to keep trying and develops skills in critical thinking, problem solving and perseverance.” 

Further, she said that the C-STEM math classes have become more diverse, with more representation of girls, Black and Latinx students, and students from lower socioeconomic backgrounds. Perhaps most significantly, surveys of students entering and completing the program show a big swing from “I hate math” to “I enjoy math.” 

Addressing the opportunity gap

“Redlands is a good example of a school district working with C-STEM to address the ‘opportunity gap’ in math education,” said Harry Cheng, director of the C-STEM center and professor in the UC Davis Department of Mechanical and Aerospace Engineering. “Schools are working to get students back on track after the pandemic. The students are doing better, closing the achievement gap and teachers are learning new skills, closing the skills gap.”

Srivastava, who visits all the district classrooms using the C-STEM program, said that the program also has positive effects on student behavior. 

“When a kid fails at math, they get the message that they’re not good at math and then they don’t give 100%. But when they’re building a robot, their entire attitude changes. I truly believe this is where the future is.” 

The UC Davis Center for Integrated Computing and STEM Education is a comprehensive program that includes the annual RoboPlay competition in which students compete with other schools to solve challenges with coding and robotics. In addition to K-12 curricula and professional development for teachers, the center also supports schools and districts to organize their afterschool and summer programs, including robotics camps, robotics-math camps, the Girls In Robotics Leadership (GIRL/GIRL+) camps, and Ujima GIRL Project for African American middle and high school girls. 

“Ever since the pandemic, we have been challenged to find new ways to engage our students,” said teacher Noah Rosen. “The investment that Redlands Unified has made in my continued training in C-STEM has provided me with a whole new treasure chest of tools that I can use to elevate the effectiveness of my classroom instruction through computer science.”


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COVID-19 Testing Resumes In Beijing, Shandong, As Reinfection Cases Surge

COVID-19 Testing Resumes In Beijing, Shandong, As Reinfection Cases Surge

Authored by Alex Wu via The Epoch Times,

China has resumed COVID-19…

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COVID-19 Testing Resumes In Beijing, Shandong, As Reinfection Cases Surge

Authored by Alex Wu via The Epoch Times,

China has resumed COVID-19 PCR testing in Beijing and Shandong Province amid rising re-infections, while the regime’s top health advisers have warned of a new wave of mass infections.

Since May 29, mainland netizens have posted on Chinese social media platforms that PCR test kiosks in Beijing are quietly back in business.

Mainland media “City Interactive,” a subsidiary of Zhejiang “City Express,” reported on May 30 that one of the PCR testing booths that netizens posted about was in Beijing’s Xicheng District, where the central government and the Beijing municipal government are located.

The staff of that testing kiosk said that the PCR test there has never stopped, reported “City Interactive”, without being clear how long it had been open.

“We have been doing nucleic acid testing in Xicheng District, but I’m not sure about other districts in Beijing,” a staff member said.

The staff member said the laboratory she works for is mainly responsible for nucleic acid testing within Xicheng District. Currently, there are more than ten testing points outdoors, and one person is on duty for each booth from 9:00 am to 5:00 pm.

Residents get swabbed during mass COVID-19 testing in the Chaoyang District in Beijing on June 14, 2022. (Andy Wong/AP Photo)

A testing kiosk in Chaoyang District, Beijing’s central business district, has been operating since March, reported “City Interactive.” The testing booth staff said it is in the health center near Jinsong Middle Street.

Ms. Wang, a Beijing resident, told The Epoch Times on May 28 that some people have taken the PRC test while others have chosen not to.

She said many people around her, including her child, have already re-infected twice.

“This time, the symptoms seem to include a high fever and then sore throat, very painful,” she said.

“Most people are just resting at home now. Seeing a doctor is very expensive, and now many medicines are paid for by ourselves.”

Gao Yu, a former senior media person in Beijing, confirmed what Wang said. She told The Epoch Times that the relatives around her have been re-infected two or three times, and most are just resting it off at home.

Shandong Resumes Testing

PCR testing booths in Qingdao City, Shandong Province, have also reopened.

A “Peninsula Metropolis Daily” report included a screenshot of an online notice posted by the Laoshan District Health Bureau in Qingdao, which announced that from May 29, the district will conduct COVID-19 PCR testing for “all people who are willing.”

It also listed the working hours of the testing sites, from 7:00 am to 4:00 pm, seven days a week.

Another mainland Chinese media, “Xinmin Evening News,” reported on May 31 that the staff in the district bureau confirmed that the testing has resumed and is for free.

Next Wave

Zhong Nanshan, China’s top respiratory disease specialist, predicted on May 22 that a new wave of COVID-19 infections in China will likely peak in late June when weekly cases could reach 65 million. Then, one Omicron-infected patient will be able to infect more than 30 people,  Zhong said, adding that the infection is difficult to prevent.

A security personnel in a protective suit keeps watch as medical workers attend to patients at the fever department of Tongji Hospital, a major facility for COVID-19 patients in Wuhan, Hubei Province, China, Jan. 1, 2023. (Staff/Reuters)

Chinese citizens across the country have said on social media that infections have been swelling since March.

Zhong also said there had been a small peak in infections at the end of April and early May.

Most COVID-19 infections in mainland China are currently caused by the XBB series mutant strains of Omicron. Among the locally transmitted cases, the percentage of XBB series variants increased to 83.6 percent in early May from 0.2 percent in February.

Zhang Wenhong, China’s top virologist and director of China’s National Center for Infectious Diseases, also warned in late April at a conference that COVID-19 infections would reoccur after six months when immunity gained from prior infections has worn out.

Tyler Durden Fri, 06/02/2023 - 11:20

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