August 10, 2023
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) would like to inform shareholders of the acquisition of the mineralized Copper Prince Project, located near Iron Bridge, Ontario.
About Copper Prince
The Copper Prince property consists of fifteen claims which cover part of a known copper bearing vein system, the Copper Prince system, with limited historic production and a less well documented vein/disseminated copper system, the North Summit system.
Mineralization at the historic Copper Prince prospect and at North Summit is hosted by steeply-dipping white quartz veins, with a width of roughly 1m to 5m and traceable over considerable distance. The veins host chalcopyrite, pyrite and specular hematite.
Historic work on the known copper bearing vein system (partially covered by Renforth claims) at Copper Prince began in the 1920s when trenching, drilling and limited underground development was completed by the Consolidated Mining and Smelting Company of Canada (Cominco). Historically recorded assays from the Renforth portion of Copper Prince includes several copper assays which exceed 1%, from drilling by Cominco, along with low grade gold and silver values. The historic information is not to be relied upon as there is no core available for verification and assay technology and standards have changed. Renforth treats this information as confirming the property is mineralized and references it to fully inform shareholders.
The adit, and much, but not all, of the trenching and drilling, is a short distance beyond Renforth’s claims, with little information available regarding the work on either Renforth’s property or adjacent to it. Anecdotal comments suggest that there was limited production in the 1960s or 1970s from the adjacent adit. Limited drilling was completed in 2012 by Lakeland Resources both within the Renforth property and adjacent to it, confirming some of the historic drill results. Only one map of the Cominco work is available, dating from 1947, after the work was undertaken but it showing several drillholes and trenches on the Renforth claims.
The North Summit copper occurrence, to the north of the vein system, was explored, trenched and drill-tested in the 1960s by North Summit Explorations Ltd (later Summit Diversified Ltd). Several good quality maps are available of geophysical surveys completed by North Summit, but their geologic exploration is poorly recorded and poorly located, and there are no maps accompanying the work reports. It is believed that the North Summit occurrence is likely to lie within the northeastern part of the Copper Prince property.
Renforth has acquired 100% of the rights to the staked claims, with no underlying encumbrances, by way of assignment with no purchase cost paid.
Renforth Resources will be presenting at 1:45pm EST Thursday August 10th, attendance is free via the following registration link https://goto.webcasts.com/starthere.jsp?ei=1603283&tp_key=7656c5070a&sti=rfhrf.
Technical disclosure in this press release has been reviewed and approved by Brian H. Newton P Geo, a “qualified person” pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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Renforth is a secure multi-commodity area play with the dominant brownfield land position south of the world class Cadillac-Larder Lake Fault (“CLLF”) in the prolific Cadillac and Malartic mining camps of Quebec’s Abitibi. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth’s land position encompasses several areas of interest. In the more than 300 square kilometres Renforth holds, there are both resources and mineralized ground undergoing exploration to extend zones and define the amount of metal in structures.
Renforth’s position is unique in that the ground is road accessible, has hydro power in place and is in an established and secure mining jurisdiction which regularly ranks as Top 10 (as determined by the Fraser Institute) in the world.
The CLLF, which extends from west of Kirkland Lake in Ontario to east of Val d’Or in Quebec is a regional first order fault which hosts numerous mines along its extent, including one of Canada’s most lucrative gold mines, the know historic O’Brien Mine which formed the Cadillac Mining Camp, and Renforth’s Parbec gold deposit near Malartic. Now, immediately north of Renforth’s landholdings is one of the few instances of the CLLF being mined on its north side with North America’s deepest single stage shaft, the Penna shaft, at Agnico Eagle’s LaRonde Mine. Renforth holds the dominant land position in the Cadillac Camp south of the fault, and a good portion of the land position in the Malartic camp as well, contiguous to one of the few mines operating on the south side of the Cadillac Break, the Canadian Malartic Mine. Renforth’s landholdings in the area host gold and silver as well as a host of future facing, or battery, metals such as nickel, copper, zinc, cobalt, and lithium.
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.