Renforth Extends PAR-20-101 Mineralized Zone at Parbec with Additional Sampling, Completes First Surimeau Drill Hole
29.06.2021 | The Newswire
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- Renforth Resources Inc. (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") reports the positive result of additional sampling of core from PAR-20-101, the second hole drilled in our 15,569m drill program on our wholly owned Parbec open pit gold deposit, adjacent to the Canadian Malartic Mine, carried out earlier this year.
PAR-20-101 Assay Highlights June 2021
----------------------------------------------------
|Drillhole |Grid|Grid |Dip|From |To |Length|g/t |
| |East|North| |(m) |(m) |(m) |Gold|
|--------------------------------------------------|
|PAR-20-101|5500|227 |-45|9 |17 |8 |1.65|
|--------------------------------------------------|
|PAR-20-101|5500|227 |-45|61.2 |62.75 |1.55 |1.28|
|--------------------------------------------------|
|PAR-20-101|5500|227 |-45|232.5|236.35|3.85 |0.62|
|--------------------------------------------------|
|PAR-20-101|5500|227 |-45|232.5|264 |31.5 |0.69|
|--------------------------------------------------|
|including |5500|227 |-45|245.5|261 |15.5 |1.07|
|--------------------------------------------------|
|also |5500|227 |-45|252 |253.5 |1.5 |6.52|
|includes | | | | | | | |
----------------------------------------------------*lengths are as measured in the core box, not true widths
The additional sampling created one mineralized interval between 232.5m and 264m, a length of 31.5m which grades 0.69 g/t gold, updating and joining the previously press released initial mineralized intercepts of 232.5 to 236.35m down the hole, assaying 0.62 g/t gold and 245.4 to 260.85m down the hole which assayed 1.48 g/t gold. This extended interval commences at an approximate vertical depth of 164m, increasing the mineralization within the conceptual pit shell at Parbec which accompanies the May 2020 NI 43-101 Resource Estimate, which will be updated upon receipt of all the results from the 2020/21 drilling, there are 16 holes still to report upon.
Surimeau Drill Program Update
Renforth is pleased to advise shareholders that the first drill hole in our June 2021 drill program at Surimeau has been completed, at a length of 237.7m. This hole was drilled to the north from the drill pad used for SUR-21-12, which, like all the holes drilled in the April/May 2021 drill program at Surimeau, encountered visual mineralization. SUR-21-19 undercuts SUR-21-15. The goal, which was met, for SUR-21-19 was to obtain a deeper intersection of the mineralization and structure observed in SUR-21-15. The drill hole intersected mineralization from 175.5-178.65m down the hole with 5-10% fine to medium grained disseminated pyrite and pyrrhotite. The best (visual) bit is from 176-176.7m where there are fine clotty chalcopyrite stringers (5%), semi-massive pyrite and pyrrhotite (15-20%) and trace sphalerite. The core will be sampled and sent for assay, to be reported on when results are received.
Click Image To View Full SizePlanned June/July 2021 Surimeau Drill Holes
Click Image To View Full SizeDrillholes planned for June/July 2021 are indicated in green, using pads cut for the prior 2021 drilling where each hole drilled over a 2.2 km strike, within the 5km Victoria West target, intersected visible nickel, copper and zinc sulphides. The Victoria West target area is located within the western 5km of a 20km magnetic anomaly that hosts proven mineralization at either end, with the Colonie Target area at its' eastern end. Victoria West is one of 6 polymetallic target areas on Renforth's wholly owned 260km2 Surimeau property historically documented as hosting mineralization, with several targets confirmed as mineralized and explored by Renforth. Results are still outstanding from the April/May drill program at Victoria West, which was first drilled with 2.5 short holes by Renforth in October 2020.
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 Parbec samples 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. Surimeau samples were assayed for multi-element analysis using "201-378 - Sodium Peroxide Fusion - ICP-OES/ICP-MS Finish".
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:
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#269 - 1099 Kingston Road, Pickering ON L1V 1B5
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About Renforth
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.
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