June 9 2021 / TheNewswire / Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE-9RR) (“Renforth” or the “Company”) releases the following information for our wholly owned Parbec gold deposit and our wholly owned Surimeau nickel/copper/zinc project.
Parbec Gold Deposit
Renforth would like to inform shareholders of the receipt of partial assays for PAR-21-131, an 87m long hole which was successfully drilled as a twin of PAR-93-54. PAR-21-131 intersected 9.55m of 4.42 g/t gold, with a sub-interval of 3.9m grading 10.31 g/t gold, commencing at 48.45m down the hole, a vertical depth of approximately 40m, within the area of the Whittle open pit which accompanies the May 2020 Resource Estimate for Parbec. PAR-93-54 intersected 7.25m of 9.5 g/t gold between 50.66 and 57.91m down the hole, the PAR-21-131 interval lines up with the PAR-93-54 interval. Subsequent to the resource estimate there has been 15,569m of drilling completed at Parbec, including a certain number of twinned holes designed to validate the inclusion of assay data produced in ~13,000m of drilling which took place between 1986 and 1993 and was not included in the May 2020 Resource Estimate.
*Assay results are presented as measured in the core box, not true widths
With this interval from PAR-21-131 the Top Ten Intervals from the 2020/21 drill program at Parbec is updated to the following, available on our website along with a recap of all of the highlight drill results released to date for this program.
*assay intervals are presented as measured in core box, not true widths
Surimeau District Project
Renforth informs shareholders that we have changed our June exploration focus from our Malartic West copper and silver discovery to our wholly owned Surimeau District battery metals project, with ~1000m of drilling and field prospecting on this largely unexplored 260 km2 property, hosting nickel, copper and zinc mineralization on surface and in drill core, contiguous to the Canadian Malartic Mine property in NW Quebec.
Assay results from the 3456m, 15 drill hole program, completed in April 2021, are largely still outstanding. Management is confident proceeding with this drill program based upon the visual results of Spring 2021 where sulphides were observed, to varying degrees, in each hole drilled over the 2.2 kms. of strike within the ~5km long Victoria West target at Surimeau.
The drill, which will arrive later this week, will make use of previously permitted drill set ups, drilling steeper undercuts of prior holes and, if accessible, the two western cut pads which were not drilled in the Spring 2021 program.
The drill permit required to proceed at Malartic West, in an area which has been entirely logged, has been delayed, outside of Renforth’s control. As we have contracted a drill we will pivot to Surimeau, moving forward our plans for later this summer. Similarly, upon receipt of the Malartic West permit after this unforeseen delay, we will reschedule that drill program.
We will be utilizing a one man, day shift only drill rig, capable of approximately 300m per hole, to drill undercuts of the previously completed 200m holes at Surimeau which were drilled south at 45 degrees dip. While the drill operator is drilling our geologists will prospect at Surimeau, specifically targeting the central trend, which hosts Victoria West over ~5kms in the western end and, approximately 14kms to the east, the Colonie target, with no documented exploration between the two. The central magnetic trend hosting both Victoria West and Colonie is known to be mineralized at each end, nothing is known about the ~14kms between the two, our geologists will be searching for outcrop in an area of very low relief. Should time permit, the Lalonde target, approximately 3kms north of Victoria West, will also be visited. These three areas, Victoria West, LaLonde and Colonie, have, in that order, been the focus of historic exploration efforts for gold, which uncovered the presence of copper, nickel and zinc mineralization which was not followed up on at the time. Renforth has verified the presence of sulphide mineralization at each location through surface work and, at Victoria West, drilling a portion of the known strike of the mineralized structure.
Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d’Or Quebec where they were assayed for gold using “202-051 – Au by Fire Assay, AAS Finish” and “202-064 – Au by Fire Assay, Gravimetric Finish” for overlimit (>10 g/t Au) values.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a “qualified person” pursuant to NI 43-101
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
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Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth’s wholly owned 215 km2 Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$5 million in cash and securities on hand (*as at 05/14/21), in addition to the gold contained in our gold deposit.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.