03 Jun Renforth Drills 7m of 7.11 g/t Gold at Wholly Owned Parbec Gold Deposit in Malartic, Quebec
June 3 2021
- PAR-21-133 successfully twins PAR-88-44 with mineralized intervals which include 7m of 7.11 g/t gold and 7.5m of 3.25 g/t gold.
- PAR-21-127 is now fully reported with the addition of 5m of 1.02 g/t gold starting at 102.5m down the hole.
- PAR-21-127 a previously reported interval of 18.75m of 4.59 g/t gold has been extended to a length of 24.1m of 3.78 g/t when lower grade material is taken into account, in the opinion of management this is not unreasonable as this interval currently falls just outside the May 2020 pit contour and would likely come into any re-countering of an open pit at Parbec.
- PAR-21-130 is now fully reported with the addition of 1.35m of 2.46 g/t gold at only 14.45m down the hole.
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to update shareholders with additional Parbec assay results. Each hole reported on is discussed below the assay highlights table. This table notes where new disclosure is added, previously reported assay values are included for context of each hole, with the relevant press release date also given.
|Drillhole||Grid East||Grid North||From (m)||To (m)||Length (m)||g/t Gold|
|PAR-21-127 Newly Reported|
|PAR-21-127 Previously Reported||18-May-21|
|and also includes||5100||135||265.55||266.8||1.25||15.76|
|PAR-21-130 Newly Reported|
|PAR-21-130 Previously Reported||12-May-21|
|PAR-21-133 Newly Reported|
|*lengths given are as measured in core, not true widths|
As previously reported on in the May 18, 2021 press release this hole is one of three drilled on this section in the 2020/21 drill program, a section which, as it only had PAR-86-01, collared too far north in the model and excluded with all of the assay data from 1986-1993, did not contribute any grade information to the May 2020 Resource Estimate. PAR-21-127 in the earlier press release was missing assay data for 93.5m to 148m length within the hole, that data has come in and provides the highlight interval of 5m of 1.02 g/t gold between 102.5m and 107.5m down the hole. PAR-21-127 provided surprising correlation with unanticipated mineralization encountered in PAR-20-106 below it, assay results have not yet been received for PAR-21-140 above in order to determine if this new mineralized zone continues towards surface.
As previously reported on in the May 12, 2021 press release PAR-21-130 with an interval of 14.1m of 2.15 g/t gold was a successful twin of PAR-93-55, which intersected 4.3m of 9.3 g/t gold and did not contribute any assay data to the May 2020 Resource Estimate, and in fact also supported the findings of PAR-87-16 which intersected 4.88m of 5.27 g/t gold. Reported on in this press release is the very top of the hole which provides an interval of 1.35m of 2.46 g/t gold commencing at a depth of only 14.45m down the hole, which, like the entire hole is within the May 2020 conceptual open pit design.
Newly reported on in this press release PAR-21-133 is considered a successful twin of PAR-88-44, which assayed 5.34m of 6.32 g/t gold between 249.78m and 255.12m down the hole. PAR-21-133 provides 7.5m of 3.23 g/t gold commencing at 242.5m and an additional interval of 7m of 7.11 g./t gold commencing at 261m down the hole. The current interpretation of this longer but broken up interval is that, as there are a few things recorded in the log, including lost core, in the intervening length there has potentially been an unknown fault intersected, combined with a lack of sampling in the earlier hole. Assays remain outstanding for the top of this hole.
Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d’Or Quebec where they were assayed for gold using “202-051 – Au by Fire Assay, AAS Finish” and “202-064 – Au by Fire Assay, Gravimetric Finish” for overlimit (>10 g/t Au) values.
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 a 2020 resource estimate of 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. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate 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 km2 Surimeau 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 ~$5 million in cash and securities on hand (*as at 05/14/21), 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.