PICKERING, Ontario, January 13, 2025 — Renforth Resources Inc. (CSE: RFR) (OTC: RFHRF) (FSE: 9RR)(“Renforth” or the “Company”), an active mineral exploration company engaged in the development of our gold deposit and exploration of our multi-commodity nickel sulphide project, both in Malartic, Quebec, today updates shareholders on our Parbec gold deposit, currently undergoing a NI43-101 Mineral Resource Estimate update incorporating a significant amount of new and positive drill data to the new deposit model.
“Our focus this quarter is on delivering a quality updated deposit model and gold resource estimate, which will anchor our efforts to drive Parbec towards cash flow, in order to generate internal capital to continue the growth of our nearby large scale surface nickel sulphide polymetallic system. We thought this would mean a small open pit, however, new technology is available for “surgical drilling”. If viable, this would achieve our goal with much less impact. The first step towards determining viability requires the updated geological model which will be created in conjunction with the resource update. Therefore, our technical team is engaged with SGS to build the best model we can.” states Nicole Brewster, President and CEO of Renforth.
Parbec Gold NI43-101 Update
The resource update work has begun with validation of the drill database. A site visit will be completed the week of January 13, as required by the 43-101 guidelines, with confirmation sampling and an opportunity for the geoscientists to meet in person to discuss the Parbec gold deposit.
TOMRA Testing
A selection of mineralized and non-mineralized drill core from the Parbec gold deposit has been shipped to Germany for initial testing using TOMRA’s sorting technology and proprietary algorithms. The purpose of this exercise is to determine whether waste rock can be removed from any future processing stream at Parbec. If this is a viable method, it lowers impact and costs and improves grade. The results of this proof-of-concept test will be released once received.
End of Year Field Work Results
Renforth advised shareholders that our field crew visited Beaupré at the end of November 2024 but was unable to locate the source of the unusually high grade 0.37 g/t Au soil sample due to significant snowfall. Shareholders will recall that Beaupré is a copper/silver occurrence stripped over ~180m by Renforth to expose the main vein. The outlying gold in soil results obtained last year were not anticipated and will be followed up on later this year.
At the Victora nickel sulfide polymetallic structure, Renforth confirmed that the geophysical signature immediately north of Victoria’s center contains mineralized ultramafic material similar to that within the Victoria structure itself. This discovery effectively expands the amount of mineralized material on the property, enhancing its potential. The finding also raises questions about the possible relationship between the Victoria structure in the lower portion of the property and the Lalonde structure, located approximately 4km to the north. In Renforth’s geophysical survey, seen below, the ~20km Victoria structure is clearly visible in the lower portion of the map. The newly identified ultramafic material is the roughly circular feature between Victoria and Lalonde. The survey was focused on Victoria and did not entirely cover either the new central feature or the Lalonde structure.
Final Private Placement
At the end of the year Renforth raised $20,500 on a flow through basis from existing shareholders by the sale of shares at $0.02 per share.
Option Issuance
Renforth has issued options to officers, directors and consultants which total 13,000,000 options exercisable at a price of 5 cents per option into one common share, for a period of 5 years from issue.
Francis Newton P.Geo OGQ, a “qualified person” pursuant to the requirements of NI43-101, has reviewed and approved the technical contents of this press release.
Follow Renforth on Facebook, LinkedIn and Instagram!
No securities regulatory authority has approved or disapproved 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.
Company Contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
416-818-1393
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9