Renforth’s wholly owned Parbec Gold Deposit is located on the Cadillac Break, one of Canada’s most productive gold structures, in Malartic, Quebec.
Our Parbec gold deposit is contiguous to the Canadian Malartic mine property, directly on strike with the deposit along the Cadillac Break. It hosts the same rocks units and mineralization types as Canadian Malartic, one of Canada’s most significant gold deposits.
Parbec hosts a MRE with an effective date of December 2019 consisting of 104,000 indicated oz. gold at 1.78 g/t and 177,000 inferred oz. gold at 1.77 g/t, however, this estimate is now historical due to positive results obtained in the more recent drilling of 15,000m, including the validation of an additional 13,000m of historical drill data which was excluded from the MRE.
The Parbec deposit covers ~800m of the 1.8km strike of the Cadillac Break on the property, and is 80% above a depth of ~300m, pursuant to the MRE. In fact, gold has been drilled along the entire strike of the property, outside of and deeper than the MRE deposit model.
At Parbec, in the same manner as it occurs at Canadian Malartic deposit, the mineralized zone overlaps the contact between the Piché Group and the Pontiac sediment. Gold can be hosted in quartz veining associated with disseminated pyrite hosted in magnetic diorite and varied types of porphyritic intrusions. At Parbec this environment is favorable to create pluri-metric lenses, helped by the structural complexity of the environment.
In addition, Renforth has recently re-interpreted the geometry of the Pontiac which is a crucial factor to understand for locating gold shoots. We found that a splay of the Cadillac Break can be interpreted as a fold hinge occurring in conjunction with the plunging of the Break under the Pontiac, this geometry could extend Parbec’s potential in a significant manner. This new interpretation is supported by Renforth’s own drilling and significantly increases the prospective ground on the property. Drill targets are identified to infill and undercut modelled mineralization, as well as step out, success with any of these would add gold ounces to the deposit.
Our new understanding leads us to interpret the fold hinge along the Pontiac contact as being a conduit of gold bearing fluids carried through cross faulting perpendicular to the strike of the Break, in addition to the mineralization running with the Break. Mineralization within the Break was the previous model and the only focus of all drilling to date. Using our new interpretation future drilling will target the perpendicular and flat lying mineralization lenses known to exist.
Current exploration at Parbec consists of a soil survey program investigating the sediments south of the Break for the first time. This is to discover any unknown areas of near surface mineralization, as consideration for a stripping location, in addition to the two known target areas. We will be stripping to access surface/near surface mineralization to, amongst other things, take larger sample size to study metallurgy and pre-concentration. Renforth is exploring the viability of a small-scale pit on the south side of the Break to generate internal cash flow to fund dewatering of the ramp and underground exploration at Parbec.
