28 Mar Parbec Drilling Extends Gold Mineralization Along ~1.8 km length of Cadillac Break -and- Newly Discovered Mineralized Diorite Body in Sediments
March 28, 2019
Renforth Resources Inc. (CSE – RFR)(“Renforth” or the “Company”) is pleased to report that it has further extended gold mineralization along the ~1.8 km length of the Cadillac Break on the wholly-owned Parbec Property, which has been drilled most recently during our January/February program of 1767m drilled in 5 drill holes, the highlights of which appear below. Each of these drill holes successfully intersected Parbec’s gold mineralized system, expanding the strike and the depth of the mineralization which formed the 2018 NI 43-101 resource estimate.
“The positive results in this program, and our December 2018 program, combine to demonstrate that gold is present along the length of the Cadillac Break Fault Zone drilled at Parbec, or, more accurately, in the Pontiac Sediments south of the Piche Volcanics and associated with the fault, for approximately 1820m, with our resource estimate sitting on a strike length of 900m. Our total of 8,399m of drilling in 37 drill holes, including the most recent program, in addition to demonstrating mineralization along the 1.8km, has also led to the discovery of a new mineralized body south of the break which we look forward to further exploring” states Nicole Brewster, President and CEO of Renforth Resources.
Jan/Feb Drill Program Summary
PAR-19-96, the second hole in the program, was an additional step out to the east, approximately 200m from PAR-18-78. This hole deflected in the softer fault material and did not reach the target, low grade gold material was intersected within the schist, carrying gold to the easternmost point on the property which can be drilled from the south, without drilling through the Cadillac Break. PAR-19-97, PAR-19-98and PAR-19-99were all drilled under the NI43-101 mineralization, each of these successfully intersected gold, as presented in highlights below. Each of these holes serves the purpose of carrying mineralized trends within the deposit deeper. As Renforth generates additional data by drilling at Parbec and incorporates this data in ongoing modelling it is evident that there are both low grade and high grade phases to the gold mineralization within the system. In addition to identifying phases associated with grade, Renforth’s modelling has discovered, and is starting to define, a newly identified mineralized structure at Parbec within the Pontiac Sediments, as detailed below.
Previously press released was the first hole, PAR-19-95, a 59m step out east from our previously most-eastern hole at Parbec (PAR-18-78), was drilled for 252m testing for strike extensions in general, specifically of the “magnetic diorite” intersected in PAR-18-78 which assayed 11.7 g/t Au over 4.7m from 160m down the hole (press released May 9, 2018). PAR-19-95successfully met this objective, including a result of 25 g/t Au over 0.6m of core length, within a total 1.15m intersection assaying 17.55 g/t Au at a depth of 230.85m down the hole (press released Feb 27/19).
Parbec Geological Model and Discovery
In December 2018 and Jan/Feb 2019 Renforth has drilled a total of 12 holes in 2,825m at Parbec since the release of the updated 43-101 Resource Estimate in September 2018. Each of these holes intersected gold and extended the length (strike) of the mineralization on the property, as well as the depth (dip) of the mineralization. With this new information Renforth has updated its’ 3d model for Parbec, as well as the sections and level plans used internally to model the results. As a result of this process Renforth’s geological team, under the supervision of Brian H. Newton P.Geo, has discovered that Parbec hosts a second, previously unrecognized, mineralized diorite body running parallel to, and south of, the Break zone, within the Pontiac Sediments. Presently the available data demonstrates that the diorite hosts low-grade mineralization, the contact of the sediments with the diorite carry high grade mineralization within the sediments. Historical geophysics suggested the presence of this body, however, it took the combination of several deep holes previously drilled, Renforth’s own drilling which included two holes drilled to the south contrasted against all the drilling to the north, and detailed geophysics flown by Eagle Geophysics, all compiled and evaluated together, to confirm the presence of this body.
Renforth’s geological team has now commenced a detailed modelling of the geology at Parbec as it is evident that there are more areas of interest on the property than solely the Cadillac Break itself.
Samples reported on in this press release were selected in the field, cut, bagged and tagged under the supervision of Francis Newton P.Geo and Mark Wellstead P.Geo and then personally transported to Bourlamaque Laboratories where they were fire assayed for gold. The lengths given in this press release refer to core lengths as measured in the core box.
Brian H. Newton P.Geo, a qualified person pursuant to the guidelines contained in National Instrument 43-101, has approved the technical information found in this press release.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
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.