Renforth Resources Inc. (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR) (“Renforth” or the “Company”) is pleased to update shareholders on the resumed stripping program on the ~5km long Victoria West target of Renforth’s wholly owned 260km2 Surimeau property, located in the Pontiac sediments, contiguous to the Canadian Malartic Mine, near Malartic Quebec. Surface visible copper mineralization has been encountered, consisting of stringers of medium to coarse grained chalcopyrite and occasional trace clots of bornite, the channel samples have been sent for assay.
The program, targeting an area between two groups of the holes drilled in the 2.2km long drill program earlier this year has, to date, successfully exposed 180m of sulphide bearing bedrock and completed the southern portion, approximately 50m long by 7m wide, of the eastern crosscut, once complete the crosscut will be approximately 150m in length. The southern contact between the ultramafic and the Pontiac was successfully intersected in the cross cut, along with another band of alteration similar to the main alteration running through the centre of the stripped area.
Looking West from Eastern End of Currently Stripped Area
Visible Copper in Cut Channel Sample
Sample 49417 Channel 12
This rock is moderately to strongly albitized, weak to moderately carbonate altered and strongly foliated. Foliation is frequently contorted throughout this area but the strike is roughly east west (90 degrees) and the dip is generally 35-50 degrees to the north. The rock itself has a banded appearance with paler creamy coloured bands of albite and darker grey-green chlorite-tremolite and graphite bands. Graphite also forms rounded clusters and clots. Sulfides are present as fine to coarse stringers and clots and are generally present only within the darker bands of this rock. There is trace to 1% Pyrite, Pyrrhotite and Sphalerite + up to 5% medium to coarse grained chalcopyrite and trace bornite.
39.4m channel viewed from above, cut, bagged, tagged and sealed in the field. The southern ultramafic band is in the left, the oxidized main deformation band is rust coloured in the centre and the northern ultramafic band, which is the better mineralized of the ultramafic bands, is on the right.
Field Comments on Mineralization
Almost all the newly exposed bedrock over ~180m strike in the stripped area is ultramafic, hosting low grade nickel and zinc mineralization along the entire strike, with the width of the stripped area averaging 35m in width but reaching up to a maximum of 42m, without exposing the contact of the ultramafic and the sedimentary Pontiac unit. The southern portion of the east cross cut exposes the ultramafic – Pontiac contact and it is anticipated that the northern portion of this crosscut, once stripped, will also expose this contact zone. The mineralized zone, comprised of a central deformational structure bound to the north and the south by ultramafics, is oriented east-west and encompasses, in the western half of the planned stripping area, two small historic trenches which expose the deformation zone and ultramafics. Mineralization has been observed in numerous places within the stripped area visually, confirmed with the use of a handheld XRF. The strongest and most impressive mineralization, at least visually, is along and within the central deformation structure with frequent clots and stringers of chalcopyrite, pyrite, pyrrhotite and occasionally sphalerite, bornite and pentlandite. To date, thirteen channels have been cut and sampled and numerous grab samples have been taken. Samples are being delivered to the lab on an ongoing basis. The current estimated turnaround time is 8-10 weeks.
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
Follow Renforth on Facebook, LinkedIn and Instagram!
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 wholly owns the 260 km2 Surimeau District Property with several areas of historically identified polymetallic and gold mineralization. This includes the Victoria West occurrence, Renforth’s current focus, interpreted to be a nickel-containing ultramafic unit, juxtaposed with VMS-style copper-zinc mineralization which occurs over ~5km of strike in the western end of the 20km central anomaly at Surimeau. 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.