Renforth Resources Inc. (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR) (“Renforth” or the “Company”) is pleased to announce that PAR-21-132 successfully twinned PAR-87-33 with several mineralized intervals, including 11.75m which gave an average assay of 3.3 g/t Au between 130.15m and 141.9m down the hole, including a sub-interval of 15.53 g/t Au over 1.75m between 136.45m and 138.2m down the hole. Assay highlights for this hole are presented below.
PAR-21-132 was the final planned twin hole left to report upon, there are still numerous Parbec assays from the 15,569m drilled in the 2020/21 drill program still to receive and report. This program successfully completed the twining of 10% of the holes drilled between 1986 and 1993, where each twin hole drilled delivered assay results comparable to, or better than, the historic ones. In addition to this, numerous holes were drilled, in this program but also notably in Renforth’s previous drilling, in proximity to historic holes, with the results consistently comparable, supporting Renforth’s position that the 1986-1993 data can be relied upon not only for lithological information but also assay values.
PAR-21-132 Assay Highlights
In the vertical section for line 5225E included below it is clear that PAR-21-132 successfully twinned PAR-87-33 and returned notable assay values at comparable locations down the hole, at relatively shallow depths and within the current conceptual open pit for the May 2020 MRE, which did not include any assay data for any of the 1980’s or 1990’s holes on the section. All of the 2020 and 2021 drill holes were drilled subsequent to the 2020 MRE, a future MRE calculation for Parbec will benefit from the inclusion of assay data in this area, both 2020/21 and prior.
Parbec Vertical Section 5225E
Parbec Top 10 Drill Intervals
The highlight interval reported on today has a metal factor which supports its inclusion in the Top 10, in fact the sub-interval from PAR-21-132 of 15.33 g/t gold over 1.75m does meet the metal factor cut off for inclusion, however, the longer interval is used.
Surimeau District Project Update
Renforth would like to assure shareholders that assay data for the 3456m drill program earlier this year, which drilled along 2.2 kms of strike with visible sulphides in each hole, within the ~5km long Victoria West mineralized target area, is being received, albeit not as quickly as we would like.
With the assay data received to date our technical team can see that the nickel vs. the zinc (and copper) systems are remarkably separate structures juxtaposed upon each other. This observation supports the choice of our technical working model, the “Outokumpu” deposit model.
Renforth anticipates that due to the “discovery” nature of our work at Victoria West and the relatively small amount of work we have done within a sizeable system (at only one of several on the 260km2 property), we will only release assay data upon receipt of all of the data and after an opportunity for our technical team, including our advisors, to consider those results, especially in the context of a potential Outokumpu-like deposit, which would be very unique outside of Eastern Finland.
Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d’Or Quebec where they were assayed for gold using “202-051 – Au by Fire Assay, AAS Finish” and “202-064 – Au by Fire Assay, Gravimetric Finish” for overlimit (>10 g/t Au) values.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a “qualified person” pursuant to NI 43-101
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
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Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this, Renforth has discovered a nickel bearing polymetallic system, over ~5km of strike in the western end of the 20km central anomaly at Renforth’s wholly owned 260 km2 Surimeau District Property. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$5 million in cash and securities on hand (*as at 05/14/21), in addition to the gold contained in our gold deposit.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.