Wholly owned by Renforth, New Alger hosts a maiden gold resource at surface, to a depth of 200m, with an exploration target of known mineralization between 200m and 350m depth requiring additional drilling to bring up to a resource category. In addition to this resource in the Thompson-Cadillac Mine area of the property, on the Cadillac Break, Renforth has discovered that in the Pontiac Sediments to the south of the mine area are several gold bearing quartz vein “horizons” running parallel to the Cadillac Break. The “Discovery Vein” horizon has seen the most exploration to date, traced over a distance of greater than 450m by Renforth, this veining was also explored from underground in the 1930’s. As best as Renforth can determine the initial discovery of gold in 1924 at New Alger was in the Discovery Vein area, whatever was on surface at that time warranted driving a tunnel several hundred feet south and then drifting underground a few hundred feet east to west, unfortunately no information as to what was mined in that location is available.
Thompson-Cadillac Mine Area Maiden Resource
July 2014 New Alger Resource Statement
Thompson-Cadillac Mine Area
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- 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.
- The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or Measured mineral resource category.
- The mineral resources in this press release 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 CIM Council.
Thompson-Cadillac Mine Area Exploration
The Thompson-Cadillac Mine area is drill ready, with gaps in the maiden resource to infill, as well as an exploration target immediately below the resource, over only part of the 1.4km strike of the Cadillac Break. In addition to these targets there is 105 feet of albitite mineralization intersected in the 1930’s underground, to the north of the mine workings. This is a more significant amount of albitite than appears at either neighbour, it is a target because the rock type is a good host of gold mineralization, associated with significant mineralization in the wider mining camp area.
Pontiac Vein Horizons
Renforth re-discovered gold bearing quartz veins in the Pontiac Sediments, most notably the Discovery Vein Horizon, in 2014 with a surface prospecting and small scale stripping/sampling program which yielded results such as 12.3 g/t Au over 0.7m in a channel cut, along with additional channel results and prospecting grab samples, tracing the mineralization over >450m where outcrop was accessible. The surface Discovery Vein mineralization correlates with the historic mine development mineralization and surface mineralization mapped in 1938, this, and RFR’s own results, lead Renforth to feel the Discovery Vein gold occurrence warrants additional exploration, a large scale surface stripping campaign will be carried out to better define a portion of the known strike and assess the potential for bulk sampling from surface.