Advantage Lithium (V.AAL)

V.AAL, Advantage Lithium, lithium, Argentina, David SidooAdvantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V: AAL), and the Company is also traded on the OTCQX Best Market in the U.S. (OTCQX: AVLIF). The Company has acquired a 100% interest in five projects in Argentina and up to a 75% interest in a sixth, called Cauchari. Cauchari is located just 20 km south of Orocobre’s flagship Olaroz Lithium Facility.

For more information see Advantage Lithium website here

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Radisson to Acquire the New Alger Project and Partner with Renforth Resources Inc.

Radisson Mining Resources Inc. (TSX-V: RDS, OTC: RMRDF) (“Radisson”) and Renforth Resources Inc. (CSE – RFR) (OTC US– RFHRF) (WKN – A2H9TN) (“Renforth”) are pleased to announce that they have signed a binding agreement (the “Agreement”) pursuant to which Radisson will acquire a 100% interest in Renforth’s New Alger Gold Property (“New Alger”) and enter into a long-term strategic relationship through a 9.6% equity investment by Radisson in Renforth. The relationship aims to leverage regional synergies and unlock significant value for shareholders of both companies from one of the most prospective mining camps in the world.

The transaction will significantly expand Radisson’s claims in the Bousquet-Cadillac mining camp, which will create scale, and which Radisson believes will enhance its exploration potential and increase O’Brien’s appeal to investors and larger producers. In addition, the deal significantly bolsters Renforth’s balance sheet and allows for a significant expansion in planned exploration spending aimed at realizing the full potential of its attractive project portfolio that includes Parbec, Nixon Bartleman, Malartic West, Surimeau and Denain-Pershing. The transaction is expected to provide for significant benefits to both Renforth and Radisson and their respective shareholders.

Transaction highlights:

  • Radisson will acquire a 100% interest in New Alger for the following consideration:
    • 12 million class A common shares of Radisson will be issued to Renforth upon closing of the transaction;
    • $0.5 million in cash upon closing of the transaction;
    • a $1.5 million cash contingent payment, payable on the earlier of the announcement of commercial production at New Alger, a sale of New Alger for more than C$40 million or a change of control of Radisson.
  • Renforth plans to complete a concurrent financing to raise approximately $3.24 million in cash proceeds, which will be backed by a 9.6% strategic investment by Radisson into Renforth.
    • The financing is anticipated to be a charity flow-through financing, pursuant to which Renforth plans to issue 24 million flow-through shares at $0.135/share, which would represent a 145% premium to Renforth’s most recent financing
  • The potential transaction value to Renforth (including contingent payments) is estimated at approximately $9.5 million, based on the three-day volume weighted average share price for Radisson.

Transaction funding:

Radisson anticipates that its strong cash position will be sufficient to both complete the transaction and to expand the ongoing drill program to include the newly acquired claims. As of July 31, 2020, the company estimates a total liquidity position of approximately $8.5 million including,

  • a liquidity position of approximately $3.3 million, which includes proceeds from the recent sales of non-core securities and receivables
  • anticipated liquidity of approximately $0.7 million from the exercise of in-the-money options and warrants by certain holders, including the Strategic Advisor, Chairman, CEO, President and Directors, who have indicated their intention to exercise such securities ; and
  • funds reserved for exploration and evaluation of approximately $4.5 million, which should facilitate an expansion in the ongoing 60,000 m drill program to over 75,000 m, permitting additional drilling in 2021

“We are delighted to announce this partnership with Renforth and strongly believe this will prove to be a win-win situation for both companies. Considering our significant holdings in one of the most prolific gold mining camps, our interests are very much aligned, making this collaboration very significant. Nicole and her team have done a commendable job over the last several years. We look forward to building on her team’s work at New Alger while gaining exposure to the other assets in the Renforth portfolio, through our equity interest in Renforth,” commented Mario Bouchard, Chief Executive Officer of Radisson Mining Resources Inc.

“This transaction delivers to Renforth’s shareholders a significant return on our investment to date in New Alger. This re-positions Renforth as extremely well funded, with cash and securities, to allow us to continue exploration on several of our properties, including our Parbec open pit constrained gold resource. Renforth will not need to carry out any additional, dilutive, funding transactions for the foreseeable future. I believe getting out from under the need to repeatedly raise money, and dilute shareholders, is transformative for Renforth.” commented Nicole Brewster, President and Chief Executive Officer of Renforth Resources Inc.

Benefits to Renforth shareholders

  • Attractive price realized for New Alger while retaining a 5.7% equity interest in Radisson post-transaction for continued exposure to upside from the combined O’Brien and New Alger properties.
    • Exposure to the ongoing 60,000m drill program at O’Brien as well as the recently completed 1,782 m drill program at New Alger for which assays are pending.
    • Additional exposure to any future exploration success by Radisson at the O’Brien and New Alger properties.
  • A significant capital infusion at a significant premium to market which, when completed, will increase Renforth’s cash position to approximately $4.7 million proforma the transaction, which represents an 385% increase from pre-transaction levels.
    • This does not include warrants and options that are in-the-money (based on the latest closing price), which, if exercised, could generate additional cash proceeds to Renforth of approximately $1.8 million in the future.
  • Renforth is expected to be well funded to undertake significant work programs at its other assets which should help Renforth materially enhance and upgrade its attractive project portfolio
  • The opportunity to leverage its partnership with Radisson for increased institutional/retail exposure and an enhanced capital markets profile, which will enable Renforth to build on the positive momentum this year.

Benefits to Radisson shareholders

  • Consolidates the adjacent O’Brien and New Alger projects in the Bousquet-Cadillac mining camp which will add scale and is expected to enhance the resource upside and significantly increase the attractiveness of Radisson’s high-grade O’Brien project. The transaction should,
    • expand Radisson’s claims to cover 5,839 ha, representing a nine-fold increase from 637 ha prior to the transaction.
    • expand Radisson’s prospective strike length along the Cadillac Break to approximately 6 km from 4.5 km prior to the transaction. This includes 3.2km to the east and 2.7km west of the historic O’Brien Mine (shaft no. 2), which has been the highest-grade producing gold mine in Quebec
    • provide Radisson shareholders with exposure to upside from the Discovery Veins, located approximately 250 m south of the Cadillac Break and hosted in the Pontiac Sediments. The Discovery Veins have been traced by drilling for approximately 275 m along strike and to a depth of 120 m, within a sampled strike length of approximately 500m. Mineralization remains open for expansion to the east, west and at depth.
    • allow Radisson to build on the technical work completed by Renforth (including 15,759 m of drilling to date) leading to the recent NI-43-101 resource update at New Alger (May 12, 2020).
  • Radisson is expected to hold a 9.6% equity interest in Renforth, which will provide shareholders with upside exposure from Renforth’s other assets located in the same prospective district, including Parbec, Nixon Bartleman, Malartic West, Denain-Pershing and Surimeau
    • Following the transaction, Renforth will be well funded to undertake significant work programs at its key assets.
  • Radisson anticipates that its strong cash position will be sufficient to both complete the transaction and to meaningfully expand the ongoing drill program to include the newly acquired claims.

Figure 1: Location Map of the New Alger and O’Brien properties


The New Alger Project

The New Alger Project is a highly prospective land package adjacent of Radisson’s O’Brien Project to the west and along strike; In June 2020, Renforth Resources published an Updated Mineral Resource Estimate and Technical Report.

The New Alger gold deposit has a pit-constrained Indicated Resource of 61,500 ounces and Inferred Resource of 123,300 ounces.  In addition, it has an out-of-pit Indicated Resource of 1,100 ounces and Inferred Resource of 64,700 ounces. The current resource covers a strike extent of approximately 1400 m and an average depth extent of approximately 300 m on the Cadillac Break. The deposit remains open at depth both on the Cadillac Break and the Discovery Veins, and along strike to the east and west on the Discovery Veins.

New Alger Current Resource Estimate

AreaClassificationCut-Off AuTonnesAuAu
(g/t)(k)(g/t)(koz)
Pit ConstrainedIndicated0.321,0161.8861.5
Inferred0.322,3221.65123.3
Out-of-PitIndicated1.44191.811.1
Inferred1.449042.2364.7
TotalIndicated0.32 + 1.441,0351.8862.6
Inferred0.32 + 1.443,2261.81188.0
  1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. Extracted from “Updated Mineral Resource Estimate and Technical Report on the New Alger Gold Property, Abitibi-Temiscamingue Region, Northwestern Quebec, Canada” dated June 23, 2020 with an effective date of May 1, 2020.
  2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  3. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  4. Historically mined areas were depleted from the Mineral Resource model.
  5. The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50-degree pit slopes.
  6. The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.

Recent Results at New Alger

Recent results at New Alger include visible gold observed in several instances within the areas of the blasting work recently completed on the Discovery Veins.

Renforth blasted in four areas of the ~275m stripped portion of the Discovery Vein gold system. These areas were chosen based upon results obtained in each area via comprehensive surface channel and grab sampling carried out by Renforth between 2014 and 2019.  Drilling at New Alger is complete for this program, with 3 infill holes completed on the Discovery Veins and 5 step out holes to the west, for a total step out of 300m west outside of the stripped area of the Discovery Veins. In addition, one hole was drilled in the mine area, on the Cadillac Break. The company is currently awaiting receipt of assays.

The transaction remains subject to customary conditions including the entry into a definitive agreement, completion of satisfactory due diligence and receipt of TSXV approval. The acquisition is expected to close before the end of Q3 2020, after which the proposed Renforth financing is expected to close.

Qualified Person
Richard Nieminen, P. Geo, Exploration Manager, is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release relating to Radisson.

Brian H. Newton P.Geo, is  a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release relating to Renforth.

About Radisson Mining Resources Inc.
Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Québec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production period (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; 3D Geo-solution, July 2019).

About Renforth Resources Inc.
Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

On behalf of Radisson

Mario Bouchard
CEO and Director

For more information on Radisson, visit our website at www.radissonmining.com or contact:

Hubert Parent-Bouchard
Director, Corporate Development
819-763-9969
hpbouchard@radissonmining.com

On behalf of Renforth

Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com

#269 – 1099 Kingston Road, Pickering ON L1V 1B5

Certain information contained in the press release are subject to receipt of all regulatory approvals. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward-Looking Statements

All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the acquisition, its intended effects, timing of completion of the acquisition of New Alger and the Renforth financing, Radisson liquidity, the development of the O’Brien project, anticipated exploration activities and generally, the above “About Radisson Mining Resources Inc.” and “About Renforth Resources Inc.” paragraphs which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Radisson and Renforth as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions, including regarding the timing and completion of the proposed acquisition and financing, may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in disclosure documents issued by Radisson and Renforth on the SEDAR website at www.sedar.com.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavors and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

 

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Aben Field Program Update

Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Aben or the Company”) is pleased to announce that the 2020 field season is proceeding well and will be moving into the next phase which will include Pad building in advance of the arrival of the drill.  The Pad building crew should be on site today and should take a week to get things ready for the drill program to begin.

The field program, to date, has been very encouraging as the crew has been successful in further delineating our initial drill targets for this season. The field crew will continue to ground truth future targets to drill, well into September.  Our initial zone of interest was explained in detail in news release dated 27th July 2020.

The company also announces, pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, employees and consultants to purchase up to an aggregate of 4,600,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.13 per share. The Company’s 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on July 25, 2018.

Forrest Kerr Project:

The Forrest Kerr Property consists of 4 separate claim blocks comprised of 56 mineral claims (23,397 ha) and is owned 100% by Aben Resources. Numerous areas of interest have been identified since Aben began systematic exploration in 2016, with a total of 70 drill holes (21,968m/72,055’) completed to date by Aben. The Boundary Valley hosts significant surface gold mineralization and complex structural intersections, both of which are important indicators of the potential for discovery of more sub-surface high-grade gold mineralization.

Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com

ABEN RESOURCES LTD.

“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact:
Aben Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

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

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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Renforth Completes 1782m of Drilling at New Alger Gold Project

 Renforth Resources Inc. (CSE:RFR)(OTC US:RFHRF)(WKN:A2H9TN) (“Renforth” or the “Company”) is pleased to let shareholders know we have completed our drill program at New Alger, with a combined total of 1782m drilled in 9 holes, on both the Discovery Veins and in the mine area, as illustrated and described below. Each of these holes has been logged and sampled, in some instances for the entire hole. Generally speaking Renforth views this drill program as a success, with each hole encountering all of the “ingredients” required for the presence of gold, such as biotite or sericite alteration, pyrite and arsenopyrite. Logging is complete, sample splitting and preparation is ongoing, deliveries to the lab have also commenced. Sample results will be released once assays are received.

New Alger Summer 2020 Drilling

The holes drilled in this program were targeted as follows;

REN-20-42  drilled north to undercut the main historic blast pit, which revealed the presence of south dipping veins and caused the change in drill direction

REN-20-43 – drilled north to undercut the westernmost blast pit

REN-20-44 – drilled north to undercut the eastern blast pits area

REN-20-45 – drilled north this is a 100m step out to the west from the stripped area

REN-20-46 – drilled south from the northern end of the same pad as REN-20-45. These holes, drilled in a “shallow X” manner, at a dip of -55 degrees, were designed for maximum coverage in the potential strike extension corridor

REN-20-47 – drilled south from a drill pad 100m to the west of the REN-20-45/6 pad, this step out hole was also drilled in a “shallow X” manner, in conjunction with REN-20-48

REN-20-48 – drilled north from the southern edge of the same pad as REN-20-47

REN-20-49 – the final step out hole, a total of 300m west of the stripped area, was drilled north, intersecting the Discovery Vein system package. At this location the pad is interpreted to be south of the Discovery Vein system, therefore there was no need to drill south.

REN-20-50 – This hole was drilled into the mine area, targeting the completion of REN-20-40, which had to be stopped in this winter’s drill program due to caving within the hole after intersecting Vein #3. In REN-20-50 caving was also encountered, again in a sand seam with water moving, binding the rods. This is interpreted to be a fault structure. In this instance Veins #1 and #2 were intersected before the hole was stopped.

Renforth Financing

Renforth has, using price protection obtained July 30th, completed the 3rd and final tranche of the private placement with the issuance of 5,051,500 common share units, each unit priced at $0.05 and consisting of one common share and one warrant to acquire an additional common share at a price of $0.07 for a period of 24 months, and 4,491,359 flow through share units, each unit priced at $0.055 and consisting of one share issued on a “flow-through” basis and one warrant to acquire an additional common share at a price of $0.075 for a period of 24 months, for a total raised in this closing of $499,600. A commission totaling $18,402 in cash and a total of 339,672 broker warrants was paid pursuant to this closing.

About New Alger

Renforth’s wholly owned New Alger Gold Project is located in the Cadillac Mining Camp, on the Cadillac Break, outside of the village of Cadillac, west of Malartic Quebec. The Cadillac Mining Camp is historically one of Quebec’s most prolific, and deep seated gold camps. New Alger’s neighbor to the north, with a shared property boundary, is the LaRonde Mining Complex of Agnico-Eagle. The neighbor to the east, with a shared border and geological structure, is the former O’Brien Mine, which ceased operations in the 1950’s, at an operating depth of 1500m. This mine, on the same Cadillac Break vein structure as New Alger, contrasts in terms of its’ 1500m operating depth with New Alger’s deepest pierce point, in the vicinity of the former Thompson-Cadillac Mine on the property, of 415m vertical depth. The Thompson-Cadillac Mine, located on the southern margin of the Cadillac Break, operated erratically from the late 1920’s to the early 1940’s, with a handful of production years which ended in the mid 1930’s, with several ownership groups and size increases to the processing plant, resulting in the production of 21,000 ounces of gold. The history of several operators and the mix of barren country rock and mineralized rock within the waste and tailings piles remaining on surface causes Renforth to consider that the historic mine was not an optimized operation.

Today New Alger hosts a NI43-101 Open Pit Constrained Mineral Resource Estimate as follows;

New Alger Mineral Resource Estimate (1-6)

Area

Classification

Cut-off Au
(g/t)

Tonnes
(k)

Au
(g/t)

Au
(koz)

Pit Constrained

Indicated

0.32

1,016

1.88

61.5

Inferred

0.32

2,322

1.65

123.3

Out-of-Pit

Indicated

1.44

19

1.81

1.1

Inferred

1.44

904

2.23

64.7

Total

Indicated

0.32 + 1.44

1,035

1.88

62.6

Inferred

0.32 + 1.44

3,226

1.81

188.0

1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

3) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

4) Historically mined areas were depleted from the Mineral Resource model.

5) The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50 degree pit slopes.

6) The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.

New Alger Underground Looking North-East

Brian H. Newton P.Geo is a “qualified person” pursuant to the requirements of National Instrument 43-101. He has reviewed and approved the technical information in this press release.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Each of these properties carries an open-pit constrained 43-101 resource. In both instances’ additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau hosts polymetallic mineralization and represents the consolidation of four historic properties into one for the first time. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

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.

SOURCE: Renforth Resources Inc.

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Renforth Finds Visible Gold Within Discovery Vein Blast Area at New Alger

Renforth Resources Inc. (CSE:RFR)(OTC PINK:RFHRF)(WKN:A2H9TN) (“Renforth” or the “Company”) is pleased to let shareholders know that visible gold was observed in several instances within the areas of the blasting work recently completed on the Discovery Veins. Location details are presented below. 1815 lbs. of representative material, in 100lb rice bag samples, comprised of randomly selected blast rubble and fine material taken from the bottom of each pit, has been sent to SGS Lakefield for test work which will include grindability tests, gravity concentration tests and gold recovery tests for each pit.

Discovery Vein Blasting

Renforth blasted in four areas of the ~275m stripped portion of the Discovery Vein gold system, located approximately 250m south of the Cadillac Break, on Renforth’s wholly owned New Alger Gold Project, which hosts an open pit constrained NI 43-101 Mineral Estimate, presented below.

Four areas were chosen, as depicted in the map below, based upon results obtained in each area via comprehensive surface channel and grab sampling carried out by Renforth between 2014 and 2019, and location within the stripped area.

“A” Pit: previous surface results include 2.56 g/t Au over 0.45m, western end of stripped area, several instances of Visible Gold seen in blast pit and rubble

“B” Pit: previous surface results include 7.59 g/t Au over 0.9m, location of main historic Discovery Blasting (1920’s), Visible Gold seen in blast pit

“C” Pit: previous surface results include 11.60 g/t Au over 0.45m, Visible Gold seen in blast rubble

“D” Pit: previous surface results include 1.92 g/t Au over 0.7m, eastern end of stripped area

The visible gold in the picture above is from the A pit (westernmost) and is hosted by a pegmatitic quartz-albite-biotite vein. The outcrop that was blasted at this location returned several channel assays in the 1-3g/t Au range from a combination of blue quartz veins, and pegmatitic veins with arsenopyrite disseminations.

The four blast pits have been mapped and sampled in detail with particular focus on styles and orientations of veining, alteration and sulphide mineralization. Samples have been taken to test for any correlations between these features and gold grades, and to test for variation in gold grade along the strike of major veins and structures. Assay results from the samples taken will be released once available.

“Visible Gold is a novel thing to find, and was not expected to come out of this blasting, so it is very exciting. We look forward to the receipt of the assay and test results for the Discovery Vein area, so we can advance our goal of processing the material for recovery” states Nicole Brewster, President and CEO of Renforth.

Drilling at New Alger is nearing completion for this program, with 3 infill holes completed on the Discovery Veins and 5 step out holes to the west, for a total step out of 300m west outside of the stripped area of the Discovery Veins. Due to observations made in “B” blast pit the drill was re-oriented to drill north, in order to intersect observed flat lying veins, which could be missed when drilling south, the orientation used previously. Each of the 8 completed drillholes intersected mineralization characteristic of previous drilling, a significant number of samples have been taken for assaying, results will be reported once received. The final hole in the program, in the Mine Area of the property, targeting the completion of REN-20-40 which had to be stopped due to caving within the Cadillac Break earlier this year, is being drilled. This hole is targeting mine veins #1 and #2 at depth of ~400m vertical, drilled from the south and the competent Pontiac Sediments.

About New Alger

Renforth’s wholly owned New Alger Gold Project is located in the Cadillac Mining Camp, on the Cadillac Break, outside of the village of Cadillac, west of Malartic Quebec. The Cadillac Mining Camp is historically one of Quebec’s most prolific, and deep seated gold camps. New Alger’s neighbor to the north, with a shared property boundary, is the LaRonde Mining Complex of Agnico-Eagle. The neighbor to the east, with a shared border and geological structure, is the former O’Brien Mine, which ceased operations in the 1950’s, at an operating depth of 1500m. This mine, on the same Cadillac Break vein structure as New Alger, contrasts in terms of its’ 1500m operating depth with New Alger’s deepest pierce point, in the vicinity of the former Thompson-Cadillac Mine on the property, of 415m vertical depth. The Thompson-Cadillac Mine, located on the southern margin of the Cadillac Break, operated erratically from the late 1920’s to the early 1940’s, with a handful of production years which ended in the mid 1930’s, with several ownership groups and size increases to the processing plant, resulting in the production of 21,000 ounces of gold. The history of several operators and the mix of barren country rock and mineralized rock within the waste and tailings piles remaining on surface causes Renforth to consider that the historic mine was not an optimized operation.

Today New Alger hosts a NI43-101 Open Pit Constrained Mineral Resource Estimate as follows;

New Alger Mineral Resource Estimate (1-6)

Area

Classification

Cut-off Au

(g/t)

Tonnes

(k)

Au

(g/t)

Au

(koz)

Pit Constrained

Indicated

0.32

1,016

1.88

61.5

Inferred

0.32

2,322

1.65

123.3

Out-of-Pit

Indicated

1.44

19

1.81

1.1

Inferred

1.44

904

2.23

64.7

Total

Indicated

0.32 + 1.44

1,035

1.88

62.6

Inferred

0.32 + 1.44

3,226

1.81

188.0

1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

3) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

4) Historically mined areas were depleted from the Mineral Resource model.

5.) The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50 degree pit slopes.

6.) The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.

New Alger Underground Looking North-East

Brian H. Newton P.Geo is a “qualified person” pursuant to the requirements of National Instrument 43-101. He has reviewed and approved the technical information in this press release.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Each of these properties carries an open-pit constrained 43-101 resource. In both instances’ additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau hosts polymetallic mineralization and represents the consolidation of four historic properties into one for the first time. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

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.

SOURCE: Renforth Resources Inc.

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Renforth Extends Diorite Splay Discovery at Parbec with Surface Gold Results

 Renforth Resources Inc. (CSE:RFR)(OTC PINK:RFHRF)(WKN:A2H9TN) (“Renforth” or the “Company”) is pleased to share with shareholders our success at Parbec with the beep mat survey, which extends our initial diorite splay Discovery Sampling (see press release June 26, 2019) to a strike length of approximately 100m, supported by gold in surface channels, including 2.35 g/t Au over 0.55m, detailed below, and other anomalies highlighted by our initial, very limited, beep mat survey at Parbec.

“The fact that we found gold on surface, extending our initial Diorite Splay discovery to approximately 100m in strike, with the small scale beep mat survey we carried out is great! To extend the vein system on surface, which also ties in to drill intervals at depth, using very cost effective technology gives us another tool in our efforts to define the extent of mineralization at Parbec. The next step will be to carry out a larger scale survey over the Pontiac sediments south of the Break.” states. Nicole Brewster, President and CEO of Renforth.

Highlight Beep Mat Survey Channel Sample Results

1.68g/t Au over 0.35m
2.35g/t Au over 0.55m
0.80g/t Au over 0.3m

A total of 19 channel samples were taken at various locations within the surveyed area. In the instance of the results given above the samples were taken from a quartz vein with chloritic and pyritic walls, which eventually plunged into a fault. These results line up with anomalies found in the survey, interpreted to extend this system to approximately 100m. In 2019 the southern “diorite” splay area, approximately 100 metres south of the Cadillac Break, was discovered to host narrow quartz veining on a ridge of sediments which assayed 1.03 g/t Au over 0.2m, this sample is interpreted to be the surface occurrence of mineralization seen in prior drillholes, with intersections at approximately 75m vertical depth of 2.82g/t Au over 1.0m in PAR-18-86, 2.35g/t Au over 3.3m in PAR-08-03 and at approximately 200m vertical depth 2.75g/t Au over 3.0m in PAR-08-02. This area, accessed via a trench corridor, was unable to be stripped due to access issues, and was not washed. As stated in 2019 we feel that this location is a key location in beginning to understand the true potential of mineralization in the sediments, it still has not been washed and is difficult to access from the north, future work will include attempting access from the south. Our recent beep mat work has given us proof of concept results at Parbec, this technology will also be used again in the future

Renforth Financing

Renforth has completed a second closing of the previously announced financing with the issuance of 1,400,000 common share units, each unit priced at $0.05 and consisting of one common share and one warrant to acquire an additional common share at a price of $0.07 for a period of 24 months, and 2,500,000 flow through share units, each unit priced at $0.055 and consisting of one share issued on a “flow-through” basis and one warrant to acquire an additional common share at a price of $0.075 for a period of 24 months, for a total raised in this closing of $207,500. It is anticipated there will be a third and final closing shortly. Funds previously closed are being deployed in the field with our ongoing drill program on the Discovery Veins gold system at New Alger, with both infill and step out drill holes.

About Parbec

Renforth’s wholly owned Parbec Gold Project, in Malartic Quebec, covers approximately 1.8kms of strike of the Cadillac Break, adjacent to the Canadian Malartic open pit gold mine, and hosts an open pit constrained gold resource consisting of both indicated and inferred gold ounces as presented below. Parbec is immediately adjacent to the former East Amphi Mine, which forms the northwestern corner of the Canadian Malartic Mine Propert, also on the Cadillac Break and joined to Parbec. At Parbec Renforth has, in addition to presenting the maiden open pit constrained gold resource associated largely with the Cadillac Break, discovered gold on surface, which ties in with drilled results, in the volcanics to the north of the Cadillac Break and in the “Diorite Splay” in the Pontiac sediments to the south of the Cadillac Break, expanding the mineralization on the property to 3 systems, with the bulk of the work on the property being fairly shallow.

Parbec Mineral Resource Estimate (1-6)

Area

Classification

Cut-off Au
(g/t)

Tonnes
(k)

Au
(g/t)

Au
(koz)

Pit Constrained

Indicated

0.32

1,782

1.77

101.4

Inferred

0.32

1,997

1.56

100.3

Out-of-Pit

Indicated

1.44

40

2.38

3.1

Inferred

1.44

1,125

2.13

77.0

Total

Indicated

0.32 + 1.44

1,822

1.78

104.5

Inferred

0.32 + 1.44

3,122

1.77

177.3

  1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  2. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  3. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  4. Historically mined areas were depleted from the Mineral Resource model.
  5. The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50 degree pit slopes.
  6. The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.

Brian H. Newton P.Geo is a “qualified person” pursuant to the requirements of National Instrument 43-101. He has reviewed and approved the technical information in this press release.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Each of these properties carries an open-pit constrained 43-101 resource. In both instances’ additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau hosts polymetallic mineralization and represents the consolication of four historic properties into one for the first time. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

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.

SOURCE: Renforth Resources Inc.

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Aben Commences 2020 Field Program at Forrest Kerr Gold Project

Aben Resources Ltd. (TSX-V: ABN) (OTCBB: ABNAF) (Frankfurt: E2L2) (the “Aben or the Company”) is pleased to announce that it has established an exploration camp and commenced ground work at the Forrest Kerr Gold Project located in the Golden Triangle region of NW British Columbia.  Initial fieldwork will consist of mapping, prospecting, soil and rock sampling to better define existing targets and generate new targets for a drill program later in the season (permits are currently in place).

Forrest Kerr Project, Golden Triangle, B.C., location map

The initial area of focus will be on the West bank of the Boundary Valley, roughly 500m south of the high-grade mineralized zone at North Boundary. This area is host to a 300m-long corridor of polymetallic mineralization that has returned gold grades ranging from 10.0 to 43.4 g/t Au (grams per tonne), 29.2 to 46.0 g/t Ag and 1.3 to 4.6% Cu in multiple rock samples from outcrop. Drillhole FK19-53 intersected a mineralized horizon located 110m directly below these surface samples that averaged 1.2 g/t Au, 2.4 g/t Ag and 0.3 % Cu over 19.0m, illustrating the continuity of mineralization over significant vertical extent. The Au-Ag-Cu mineralization and alteration seen in Drillhole FK19-53 core closely resembles mineralization previously discovered by Aben at North Boundary:

NORTH BOUNDARY HIGH-GRADE ZONE

  • 38.7 g/t Au over 10.0m from 114.0-124.0m including 331.0 g/t Au over 1.0m from Hole FK18-10. Also 22.0 g/t Au, 22.4 g/t Ag over 4.0m from 84.0-88.0m
  • 6.7 g/t Au, 6.4 g/t Ag and 0.9% Cu over 10.0m, including 18.9 g/t Au, 16.6 g/t Ag and 2.2% Cu over 3.0m in Hole FK17-04
  • 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu over 6.0m from Hole FK17-05

Of note, this mineralized corridor is located West of the Nelson Creek fault, previously thought to cut off the polymetallic mineralization found East of the Nelson Creek fault at North Boundary. A large and untested magnetic anomaly is located 190m west of the mineralized trend in a scree-covered area with little outcrop present. The coincident magnetic anomaly combined with the confirmed precious metal mineralization in both outcrop and drill core from this area make for a compelling target that will be further explored during this season.

Proposed Exploration and Drill Targets

Jim Pettit, President and CEO of Aben Resources states; “We are pleased to be back up at the Forrest Kerr Project for another season of exploration. We have utilized the off season to work up some very site-specific targets based on detailed drill analytics, surface sampling, and geophysical analysis from the past 3 years.  The initial work this year will involve ground truthing the targets selected before drilling later in the summer. As stated in this news release, we will start in an area that has an abundance of high-grade surface and outcrop mineralization that is coincidental with down-hole mineralization directly below the surface samples. This is basically the process we used to discover the high-grade gold zone at North Boundary.”

Forrest Kerr Project:

The Forrest Kerr Property consists of 4 separate claim blocks comprised of 56 mineral claims (23,397 ha) and is owned 100% by Aben Resources. Numerous areas of interest have been identified since Aben began systematic exploration in 2016, with a total of 70 drill holes (21,968m/72,055’) completed to date by Aben. The Boundary Valley hosts significant surface gold mineralization and complex structural intersections, both of which are important indicators of the potential for discovery of more sub-surface high-grade gold mineralization.

Cornell McDowell, P.Geo., V.P. of Exploration for Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing gold-focused projects in British Columbia and the Yukon Territory. Aben is a well-funded junior exploration company with over $1.0 million in the Company’s treasury.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com

ABEN RESOURCES LTD.
“Jim Pettit”
______________________
JAMES G. PETTIT
President & CEO

For further information contact myself or:
Simon Dyakowski
Aben Resources Ltd.
Strategic Advisor
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

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

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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GR Silver: Great Drill Holes at the Plomosas Silver Project, Mexico

The junior resource world runs on “news”. The most valuable news a company can bring to the market is drill results. Ideally, drill results which disclose good grades over broad intervals. The problem most juniors face is that drilling is expensive: hundreds of dollars a meter. And it is time-consuming as the core has to be split and sent to the lab for analysis.

When CEO Marcio Fonseca’s GR Silver Mining (V.GRSL) announced that it was buying 100% of the Plomosas Silver Project from First Majestic (T.FR) in exchange for GRSL shares and a small cash payment Fonseca stated, “The incorporation of this Project’s extensive database, together with knowledge gained during the last two years exploring, drilling, and expanding the resource at the nearby San Marcial Project, provides superb vectors  to achieve new discoveries of high-grade Ag-Au  Multiple Veins on the Plomosas Project.”

What many people missed, though it was right in the press release, was just what that database contained, namely over 500 recent and historical drill holes which represented a substantial fraction of the $18 million US which had been invested in the Plomosas project from 2007 to 2019. And here’s the key thing, none of those holes had been reported.

“Big companies like First Majestic don’t really publish drill results,” said Fonseca in a phone interview. “But these holes have real value, they are real results and have proved the presence of potential multiple discoveries.”

500 drill holes in six areas which have never been reported give GRSL press release material for a long time, and the company has released only approximately 100 holes. “We want to tell the story,” said Fonseca. “We want the news flow but we have to go through a process to validate the results. We need to confirm the location, confirm a chain of custody, look at the reports, the logs and core for each hole.”

Once a group of holes have been verified, GRSL can release the results and its interpretation of those results as it did July 20, 2020 GR Silver Mining Announces Extension to the Plomosas Vein and Reports High-Grade Silver Drill Results. The headline results were outstanding including 1,112 gpt AgEq1 over 5.4m (1,096 gpt Ag, 0.3% Pb and 0.2% Zn) including 2,498 gpt AgEq over 2.0m (2,484 gpt Ag, 0.7% Pb and 0.3% Zn). However, from an investor’s perspective, this passage may be the most important, “The drill holes in this news release were generated by a drill campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2017 (PLI17-08), and historical drill holes completed by Grupo Mexico. Both drill sets were not previously released.” Another release came out July 24, reporting more, previously unreleased, drill holes.

Not one of the 22 holes reported in the release cost GRSL any money to drill. The company has literally hundreds of these holes to verify and release. “This gives us huge leverage,” said Fonseca. “100,000 meters.”

The prior work on the site also gives GRSL’s experienced site geologists a lot to work with. “There are six areas where there an average of 100 holes; but there are eleven additional targets which GR Silver is already planning to drill. We have one drill on site now with two more coming,” said Fonseca. Most of the proposed drilling will be quite shallow, less than 200 meters, making it easier to move drill rigs around, and will focus on delineating the vein systems and their controls as well as adding ounces.

“By the end of the year or early Q1/2021 we want to have the first-ever 43-101 compliant resource estimate on at least one area,” said Fonseca. “Having just completed a successful oversubscribed Bought Deal (CAD$9.1m), which included First Majestic investing $1.0m, makes GR Silver Mining a very particular story. Not many companies in this market cap would have a bought deal offer presented to them. These funds strength the company’s financial positions making it fully funded for the next two to three years.”

COVID has not been a significant factor for GRSL. “We’ve had no COVID shutdown,” said Fonseca. “While I have had to stop visiting Mexico, all our key people speak Spanish and we can stay in touch. All our employees are locals or live nearby limiting the flow of external personnel to the site.”

With plenty of cash on hand, a mountain of unreleased results to verify and release, plus three drill rigs expanding the footprint of mineralization or discovering new high-grade veins, there is very little question that GRSL is exceptionally well-positioned for growth. The recent romp in the price of silver – over $24.00 USD an ounce as I write – it is not surprising that GRSL’s share price has surged in the last few weeks. May 1 the shares were trading at $0.30 a share, at the close on July 24, GRSL traded at $0.85 on a volume of 1.933 million shares.

Fonseca’s GRSL has caught the market’s attention as a well run, well funded, resource expansion, discoveries and development stage company with control of a highly prospective silver-gold district. If silver holds its gains or runs higher, there is no reason why GRSL cannot break through the $1.00 mark in short order. And beyond.

(Note #1: AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn.)

(Disclosure: I, Jay Currie, own GRSL and have a buy order in for the open on July 26, 2020.)

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GR Silver Mining Reports High-Grade Silver Drill Results From the San Juan Area, Plomosas Silver Project


  • 1,181 gpt AgEq1 over 3.1m (846 gpt Ag, 0.8 gpt Au, 2.7% Pb and 6.0% Zn) includes 3,224 gpt AgEq over 1.1m (2,300 gpt Ag, 2.1 gpt Au, 7.6% Pb and 16.3% Zn)
  • 1,120 gpt AgEq over 2.7m (931 gpt Ag, 0.1 gpt Au, 1.9% Pb and 4.0% Zn) includes 1,566 gpt AgEq over 1.4m (1,478 gpt Ag, 1.3% Pb and 1.6% Zn)
  • 755 gpt AgEq over 3.5m (737 gpt Ag, 0.1 gpt Au, 0.1% Pb and 0.3% Zn)
  • 720 gpt AgEq over 4.8m (563 gpt Ag, 0.3 gpt Au, 1.6% Pb and 2.7% Zn)

VANCOUVER, BCJuly 24, 2020 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report high-grade drill results from the San Juan-La Colorada Area at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

These drill results highlight continuity of high-grade silver mineralized zones in a 100 m step out from a previously released section of drill hole results at the San Juan Area (Figure 1). These latest results define a mineralized strike length for the the low sulphidation epithermal system of up to 1,000 m (see News Release dated July 7, 2020). This news release features results from 17 diamond core holes drilled by previous companies and not previously released. The cross section containing these results establishes a high-grade continuous zone of Ag-rich polymetallic breccia, along a shallow dipping fault for approximately 400 m down dip. In addition, the drill results continue to confirm silver-gold mineralized zones hosted by multiple high angle faults (link to cross section).

The results of the 17 drill holes indicate the possible extension of the San Juan-La Colorada Area towards the San Francisco Area to the south, supporting the presence of a much larger low sulphidation epithermal Ag-Au rich system (Figure 2).

The mineralized veins and hydthermal breccias appear to be proximal to each other in subparallel structures, a feature typical of low sulphidation epithermal systems. The concentration of multiple veins, in combination with increased continuity along strike and down-dip, represents an attractive target for future resource delineation.

_____________________________

1AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn.

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The Company has prioritized the validation of the drill holes at the San Juan-La Colorada Area, focusing on expansion of mineralization along strike and down-dip. These latest results confirm high-grade mineralization extending to the S towards the San Francisco Area, suggesting potential to outline a large low sulphidation epithermal system with at least a 1000 m strike length”.

The Company is advancing the rehabilitation of the historical San Juan underground workings, while continuing with geological and structural mapping/sampling. An improved understanding of the mineralized systems, which consists of a set of multiple structures hosting high-grade Ag-Au mineralization, has resulted in the definition of new drill targets. Detailed mapping by GR Silver Mining has identified down plunge extensions of previously released high-grade silver intercepts in polymetallic hydrothermal breccia (see news release dated April 2, 2020). In the lower levels of the historically developed San Juan workings, massive argentite, galena and sphalerite zones have been mapped similar to the previously released high-grade silver zones which included results such as 0.4 m at 4,698 g/t Ag and 0.2 m at 6,128 g/t Ag.

Table 1 summarizes the most significant drill assay results for this set of 17 drill holes released for the San Juan-La Colorada Area.

Table 1: Summary Surface Drill Hole Results – News Release July 27, 2020 (San Juan-La Colorada Area)

Hole No.

From
(m)

To
 (m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Ag g/t

Pb %

Zn %

AgEq
g/t

 LRD-28

38.9

43.7

4.8

3.8

563

0.3

1.6

2.7

720

 LRD-29

218.8

225.0

6.2

5.0

144

0.0

0.3

0.8

177

 LRD-41

37.3

39.4

2.1

1.7

42

0.2

0.8

2.4

152

 LRD-59

71.2

74.3

3.1

2.5

846

0.8

2.7

6.0

1,181

includes

71.2

72.3

1.1

0.9

2,300

2.1

7.6

16.3

3,224

 LRD-62

58.9

60.1

1.2

1.0

91

0.4

3.8

5.8

425

 LRD-65

50.5

51.7

1.2

1.0

178

1.3

3.9

12.5

784

 LR2D-01

94.8

96.1

1.3

1.0

342

0.0

1.4

1.7

438

 SJS-06

245.0

249.1

4.1

3.3

335

0.1

0.1

0.2

347

includes

248.6

249.1

0.5

0.4

2,154

0.1

0.2

0.3

2,178

251.5

252.9

1.4

1.1

110

0.1

0.1

0.1

125

 SJS-09

301.1

308.1

7.0

5.6

363

0.1

0.8

1.9

457

includes

301.1

303.8

2.7

2.1

931

0.1

1.9

4.0

1,120

includes

301.1

302.5

1.4

1.1

1,478

    na

1.3

1.6

1,566

 SJS-10

287.1

300.5

13.4

10.7

226

0.0

0.3

0.3

247

includes

295.9

299.4

3.5

2.8

737

0.1

0.1

0.2

755

 SJS-14

339.3

347.4

8.1

6.5

16

0.3

0.9

2.8

150

 SJS18-04

283.6

287.5

3.9

3.1

262

0.1

0.7

2.6

366

291.5

292.3

0.8

0.7

193

0.0

0.2

0.4

213

314.4

314.8

0.4

0.3

96

0.1

2.8

3.9

312

 SJS18-13

4.3

6.5

2.2

1.7

65

0.9

0.1

0.0

160

23.9

24.3

0.4

0.3

158

1.1

0.2

0.4

291

 SJS-19

257.8

261.2

3.4

2.8

141

0.0

0.3

0.7

171

includes

257.8

259.4

1.6

1.3

271

0.0

0.5

1.1

318

278.8

279.9

1.1

0.9

254

0.0

0.2

0.5

274

 SJS-21

221.2

223.3

2.1

1.7

105

0.6

0.3

0.4

184

 SJS-25

301.6

305.2

3.6

2.9

50

0.1

1.8

4.6

248

includes

301.6

303.4

1.8

1.5

92

0.1

3.2

8.5

449

SJS-27

297.1

298.8

1.7

1.3

90

0.0

0.5

1.0

135

*AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb and 70% Zn. “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: Underground Drill Hole, SURF: Surface Drill Hole

The 17 drill holes in this news release were generated by a core drilling campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2018 (SJS18-04 and -13), and historical drill holes completed by Grupo Mexico. Neither of the drill sets were previously released. They are part of an extensive surface and underground diamond core drilling database, which GR Silver Mining continues to consolidate and validate.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company continues investigating previous unsampled intervals for evidence of mineralization in the core that warrants additional sampling and assaying. The Company recently announced a core drilling program at the Plomosas Silver Project (see news release dated July 15, 2020).

Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.

Table 2: San Juan-La Colorada Area – Drill Hole Intervals Not Sampled (Intervals greater than 20m)

Hole No.

From-To (m)

Sampling

SJS17-13

0-173.95

NS

SJS17-13

191.35-218.5

NS

SJS17-13

233.55-331.7

NS

SJS17-15

0-197.9

NS

SJS17-15

208.25-253.4

NS

SJS18-04

0-270.75

NS

SJS18-04

317.95-375.55

NS

SJS18-12

48.2-82.5

NS

SJS18-12

113.4-145.0

NS

SJS18-13

33.0-64.75

NS

SJS18-13

129.0-186.3

NS

SJS18-13

191.3-247.5

NS

SJS18-13

249.6-282.0

NS

All numbers are rounded. NS – Core not assayed by First Majestic

Table 3: Drill Hole Locations – News Release July 27, 2020 (San Juan- La Colorada Area)

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

LR2D-01

448267

2550579

925

260

-90

192

LRD-28

448224

2550545

910

0

-90

44

LRD-29

448361

2550615

986

0

-90

234

LRD-41

448242

2550510

908

0

-90

43

LRD-59

448247

2550574

918

0

-90

81

LRD-62

448262

2550514

917

0

-90

78

LRD-65

448262

2550514

917

262

-62

57

SJS-06

448414

2550668

1025

0

-90

291

SJS-09

448520

2550764

1013

50

-65

333

SJS-10

448486

2550738

1032

256

-55

321

SJS-14

448520

2550764

1013

227

-80

352

SJS18-04

448426

2550707

1043

227

-80

376

SJS18-13

448517

2550752

1002

220

-78

357

SJS-19

448402

2550653

1018

326

-81

319

SJS-21

448402

2550652

1017

317

-73

310

SJS-25

448458

2550693

1031

207

-77

328

SJS-27

448516

2550721

1013

225

-69

325

All numbers are rounded.

The Company believes that the San Juan-La Colorada Area is similar to the Plomosas Mine Area, consisting of Ag mineralization hosted in polymetallic hydrothermal breccias and steep angle Ag-Au rich low sulphidation epithermal veins, commonly displaying argentite, galena and sphalerite that can be observed in the drill core .

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo. He has approved the disclosure herein.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purposes.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, 16 new exploration targets from which 11 have high priority for future exploration programs.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San JuanLa ColoradaYecoraSan Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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Exploration Resumes on Renforth’s Copper/Silver Discovery at Malartic West

Renforth Resources Inc. (CSE:RFR)(OTC:RFHRF) (WKN:A2H9TN) (“Renforth” or the “Company”) would like shareholders to know that exploration on the Beaupré Copper/Silver Discovery on our wholly owned Malartic West Property, contiguous to the Canadian Malartic Mine Property in Malartic, Quebec, has resumed.

“Renforth has a copper/silver discovery which extends over 165m in surface sampling, which is a true discovery, there is no historical record. The strike length is entirely open and it has never been drilled. It is next door to Canada’s largest open pit gold mine, in an established mining camp, literally right beside a logging road a couple of kms. off of a regional road. We do not know why this mineralization is there yet, or the extent of the copper and silver system, but we do know these rocks, in this location, with copper and silver prices rising, deserve additional exploration. So that is what we will do,” states Nicole Brewster, President and CEO of Renforth.

Beaupré Copper/Silver Discovery Summary

Beaupré was first sampled by SOQUEM, 6 grab samples were taken, the results as follows;

SampleUTM EUTM NCu ppmCu %Au g/tAg g/t
B00089335702317534060893.5<0.005<0.02
B00089336702317534060912.6<0.005<0.02
B000893377023175340610131001.31<0.0052.45
B00089340702318534060926.3<0.005<0.02
B000893417023195340610808008.080.018.43
B000893427023205340610211002.110.013.56

(refer to press release of Sept. 4, 2019)

Renforth, in the summer of 2019, confirmed the presence of copper and silver mineralization at Beaupré with results that included the following;

SampleDescAg
g/t
Cu
g/t
Cu %
369110Weakly silicified arkose, ~5mm quartz stockwork, ~5% pyrite clots6.6235903.59
2427494Quartz + very coarse chalcopyrite clots, tight dissemination of fine pyrite (~5% sulphide total)5.7325502.55
2427495Weakly silicified arkose with irreg. quartz-carbonate stockwork, occasional very coarse chalcopyrite clots:1.758200.82

(refer to press release Oct. 31, 2019)

Fall 2019 work, which extended the copper/silver mineralization to a surface strike length of 165m, ended due to weather, with mapping of the ground which was stripped unable to be completed due to early snow cover. Grab sample results obtained included;

SampleDescAg g/tCu
g/t
Cu %
B564976Blast pit rubble: quartz-carbonate stkwk in silicified sediments, 5% coarse pyrite clots, poss. bornite flake5.4689500.895
B564977blast pit rubble: quartz-carbonate stkwk in silicified sediments, 1% coarse pyrite, 1% coarse chalcopyrite clots3.0463900.639
B564993rusty quartz stockwork in chloritic host, 2% chalcopyrite stringers8.3187500.875
B564994rubble from blast pit. Quartz ~5cm thick + stkwk in greywacke. Very coarse pyrite+pyrrhotite clots1.7588900.889

(refer to press release of Dec. 11, 2019)

Additional Exploration Updates

Renforth has completed the previously announced blasting program on our New Alger Property and the Discovery Veins surface gold mineralization, stripped over 275m within a known 500m strike length in the Pontiac sediments, which is still open. Renforth is now drilling on the Discovery Veins, within and outside of the stripped area. The drill program will continue under the supervision of one geologist, with a second geologist undertaking the renewed exploration at Beaupré.

In addition, Renforth is awaiting assay results from our June 2020 Beep Mat/Prospecting work which included sampling on our Parbec gold property and our Surimeau polymetallic property.

Brian H. Newton P.Geo is a “qualified person” pursuant to the requirements of National Instrument 43-101. He has reviewed and approved the technical information in this press release.

For further information please contact:

Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:416-818-1393
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Each of these properties carries an open-pit constrained 43-101 resource. In both instances’ additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau hosts polymetallic mineralization and represents the consolication of four historic properties into one for the first time. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

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.

SOURCE: Renforth Resources Inc.

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Aben Resources: Looking for Size in BC’s Golden Triangle

British Columbia’s Golden triangle, in the north west of the province, is a hugely prospective area. But, as Jim Petit of Aben Resources (V.ABN) knows all too well, it presents challenges.

“This year the snow pack crushed our core shack,” said Petit. “We’re right in the coastal mountains at around 6000 feet. We see twenty feet of snow.”

The snow has finally melted and Aben has sent in a crew of geologists to do basic geology and identify drill targets for a drilling program at its Forrest Kerr project starting later this summer. But first they have to build the camp.

“Forrest Kerr is helicopter driven,” said Petit. “We’ve had to adjust to the COVID rules. So, we have sent in four geos who will stay up on the property mapping, sampling, and prospecting. They’ll stay up there for the season rather than coming down to the camp by the highway.”

In prior years, Aben’s people would fly in and out daily. But it is essentially impossible to keep social distance in helicopters so staying on site was pretty much the only way the work program could happen. “We’re permitted up top for eight people,” said Petit. “We’ll have the camp builders in and rebuild the core shack for the Geo’s quarters and get ready for the drillers later in the summer.”

“Aben has drilled over 20,000 meters in the Forrest Kerr valley. Drilling at the North boundary produced spectacular high-grade gold results. But, for the exception of the 3 South boundary holes, that drilling was primarily on the east side of the valley. Last year the drilling headed south and carried on 500 meters south of the South Boundary holes.  The drills hit the same sort of mineralization as South Boundary. Not as high grade as North Boundary, but extensive low grade starting at surface.  This new zone to the south appears to be an extension of South Boundary along what we now call the Benchland Fault.”

“Now we want to drill in between,” said Petit. “We have a whole new fault and we want to see if it connects. The mineralization is all very shallow and it could be a big system. We’re finding gold, silver and a little copper.”

Last year Aben did a large airborne survey of the property which revealed large structural anomalies. The challenge is that much of the property is covered in scree, the rocks and boulders which come down from the mountains surrounding the valley.

“We have a couple of kilometers of strike,” said Petit. “And we have pads where we could drill under the scree.”

“We’ll have targets identified in the later part of August,” said Petit. “We are identifying really good targets.”

“We bring the drill in by helicopter,” said Petit. The great advantage the Forrest Kerr property has is that none of the drill holes need to be very deep to prove up the property’s potential. Petit is looking at a drill program of around 2000 meters all targeted to test Aben’s theory that this is a large, connected system, controlled by the faults which run north-south and intersect northeast-southwest trending faults.

One thing which will guide the drill is the fact Aben has seen potassic alteration in the samples and core it has recovered so far in the North Boundary Zone. Such alteration suggests that the heat source which created the conditions for the mineralization maybe nearby.

Petit realizes that, prospective as Forrest Kerr is, the four-month season is a challenge in the news driven junior resource market. Which leads him to another, more or less, year-round project in northern Saskatchewan.

“We were there a couple of years ago and the First Nations trappers had some problems,” said Petit diplomatically. It was complicated.

“Now they appear to want us back,” said Petit. The Chico property is a piece of a green stone belt, the Tabbernor Fault which is a 1500 km long regional structure which has been traced from as far north as the Rabbit Lake uranium mine in northern Saskatchewan to as far south as the Black Hills of South Dakota, the latter of which hosts the 40M oz Homestake gold deposit. It is located to the Northwest of Flin Flon and is 40 km south of SSR Mining’s (formerly Silver Standard Resources) Seabee / Santoy mine complex.

Work to date on Chico has included geophysical surveys, geological mapping and recent soil sample coverage which included numerous highly anomalous samples ranging up to 4.5 g/t gold. A number of high-priority drill targets have been identified.

While it is certainly cold at Chico in the winter, there is not 20 feet of snow so drilling operations can be undertaken. This second project means that Aben will be able to use its resources year-round.

Looking at the stock market overall and at the junior precious metals market specifically, Petit is optimistic. “The Fed’s printing press have been turned on high which means that the general stock market is getting over valued,” said Petit.

“If you look at precious metals, not enough mines have been opened. A lot of supply has not happened,” said Petit. “I think gold will be going much higher. I’m very bullish.”

Petit understands the junior resource market’s need for news. There will be results from the Forrest Kerr drilling in early fall. While there will not be all that many total meters drilled, because the mineralization appears to start at surface, there will be a lot of shallow holes which will give Aben a much better idea of the structure of the deposit. Then, if all goes as planned, there should be drilling and results from the Chico property later in the year and into 2021.

Aben, just closed a private placement and, with cash in the bank, is trading around $0.125. A few good holes in the Golden Triangle and that price could very easily triple. Especially in a bull market for gold juniors.

 

 

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