09 Mar Renforth Drills 21.45m of 5.57 g/t Au at Wholly Owned Parbec Open Pit Gold Deposit
Renforth Resources Inc. (CSE – RFR) (OTC US– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to report Parbec 2020 drill results to shareholders, including a highlight from PAR-20-112 of 21.45m grading 5.57 g/t Au from 254.8m to 276.25m as measured in the core box. This includes a sub-interval of 6.27 g/t Au over 16.7m, which also includes 37.3 g/t Au over 1m, as presented below.
As seen in the cross section below this interval occurs within the pit wall of the May 2020 open pit constrained resource estimate and represents new mineralization. This is the down dip extension of the mineralized zone intersected in PAR89-50 which assayed 4.64 g/t Au over 6.25m.
Renforth expects that this interval, the highlights below, and the previously released highlights from drillholes PAR-20-100 to 104, will have a positive impact on recalculation of the resource estimate for Parbec, the holes drilled in 2020 were designed to fill in data gaps in the resource model or to test for the extension of mineralization to greater depths. Presented below are highlights from PAR-20-110, PAR-20-111, PAR-20-112 and PAR-20-113, holes for which Renforth has received the entire hole’s results. There are still 20 drill holes from the 2020 program remaining to be reported on. The ongoing 2021 drill program at Parbec has completed 4095m of drilling as of March 8, 2021 in 15 holes, samples have been selected and submitted for assay, results for these drill holes are also awaited.
Parbec 2020 Assay Highlights
|Drillhole||From (m)||To (m)||Length (m)||Au g/t|
*The lengths given in this table are as measured in the core box, not true widths.
*The assay values presented in this table are uncapped
Parbec 2020 Drill Program Vertical Cross Sections
Parbec Vertical Cross Section PAR-20-112
Above is section 5275NW from the May 2020 resource model for Parbec, with an area of influence of 25m. In blue is the Whittle open pit outline for the May 2020 Resource Estimate at Parbec, drill hole PAR-20-112 intersected the 21.45m mineralized interval grading 5.57 g/t Au within and below the conceptual pit wall. This interval is interpreted to be the down dip extension of the mineralized interval in PAR89-50, as well as be an overcut of the end of the 9.6m mineralized interval in PAR-20-100, which was drilled to the north, it gave an average assay of 0.59 g/t Au over that length.
Parbec Vertical Cross Section PAR-20-110 and PAR-20-111
Above is section 5225NW which has both PAR-20-110 and PAR-20-111 on section, with mineralized interviews demonstrating vertical continuity both outside and within the May 2020 open pit. The interval of 9.5m of 0.72 g/t Au in PAR-20-110 undercuts, and lines up with, the interval of 7.3m of 1.51 g/t Au in PAR-20-111, both of these, the deeper intervals within each hole, are occurring near the contact with the volcanics to the north, the volcanics mark the end of the mineralized envelope within the Cadillac Break (though they do host mineralization to the north-east, referred to as the “Island Trench” mineralization). Additional mineralization is present higher in the hole in both PAR-20-110 and PAR-20-111, specifically 5.85m of 0.78 g/t Au and 8.4m of 0.65 g/t Au respectively, each of these intervals, along with other mineralization intersected in each hole, is within the currently defined open pit, however, as the only previous holes on this section were drilled in the 1980s and 1990s, they contributed no assay data to the current resource. Therefore, the new data from the 2020 drilling will have a positive impact during the upcoming resource recalculation at Parbec.
Parbec Vertical Cross Section PAR-20-113
On Section 5125NW PAR-20-113 shows duplication of mineralization as compared to PAR-93-55 in close proximity. Again, the assay values in PAR-20-113 will have a positive impact during the future resource estimate recalculation, as the assay values from the 1993 drill hole were not used in the current May 2020 resource estimate calculation. PAR-20-113 also offers vertical continuity as compared to the deeper drill hole, PAR-17-67, which gave a mineralized interval of 26.5m assaying 0.65 g/t Au near the end of that hole, in line with PAR-20-113 which gave 3.9m of 1.19 g/t Au near the end of the hole.
“I am pleased, again, with the results we are reporting to shareholders from our 2020 drilling at Parbec. We continue to generate positive, accretive data, at times with notable intervals, and in the instance of PAR-20-112 in today’s press release, with notable grade, from our shallow, open pit gold deposit on the Cadillac Break, beside Canada’s largest gold mine, road accessible in an excellent jurisdiction. We are currently drilling at Parbec and look forward to reporting on assays for the next while from this program which, when complete, will total approximately 15,000m of new drilling and data, exceeding our previous drill total at Parbec of just under 8500m, made possible by our excellent financial position. We look forward to a resource recalculation at Parbec in the near future and getting a much clearer picture of the potential and value of this asset.” states Nicole Brewster, President and CEO of Renforth.
Assay values given in this press release come from holes drilled in 2020 on Renforth’s wholly owned Parbec gold deposit, located on the Cadillac Break in Malartic Quebec, contiguous to the Canadian Malartic Mine. Samples were selected during the core logging process, split in the field and bagged, tagged and sealed. The samples were delivered to the facilities of AGAT Laboratories in Val d’Or Quebec where they were assayed for gold using the (202-051) Fire Assay – Trace Au, AAS finish (ppm) methodology.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a “qualified person” pursuant to NI 43-101
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
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Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. A 15,000m drill program is ongoing, this program is planned to twin, infill and undercut existing drill holes at Parbec, the aim of this program is to rebuild the geological model and increase the resource estimate upon restatement. In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth’s wholly owned 215 km2Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$6.3 million in cash and securities on hand (*as at 03/03/21), in addition to the gold contained in our gold deposit.
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.