24 Aug Renforth Drills 9.5m of 4.66 g/t Gold at Wholly Owned Parbec Gold Deposit in Quebec
August 24, 2021
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to announce additional positive assay results from the 2021 portion of the >15,000m drilled into the wholly owned Parbec surface gold deposit in Malartic, Quebec, contiguous to the Canadian Malartic Mine. The interval of 9.5m of 4.66 g/t gold included a sub-interval of 1m which assayed 31.2 g/t of gold. This drill program, which consisted of 49 drill holes, was designed to infill gaps within the mineralized model, as well as test several historic holes in order to validate >13,000m of drill data excluded from the May 2020 Mineral Resource Estimate for Parbec and to begin to test the deposit at depth, greater than 75% of the mineralization in the model sits above a depth of 300m. With today’s release there are assay results from 10 drill holes remaining to be received and released once complete.
Parbec Assay Results Highlights
Parbec 2020/21 Top 10 Drill Intervals
The highlight interval reported on today has a metal factor which supports its inclusion in the list of Top 10 Drill intervals for the 2020/21 drill program, as presented below.
The highlight sub interval from today’s press release of 31.2 g/t gold over 1m in PAR-21-135 has a metal factor sufficient for inclusion in the overall assay value highlight table for Parbec. Please note it is believed this list is complete with regard to drilling from the 1980s to present, however, it may not be.
Surimeau District Project Update
Renforth is currently planning a return to the field this Fall on the wholly owned 260 km2 Surimeau battery metals property, specifically the 5km long Victoria West target, with nickel, copper and zinc sulphides observed on surface and within initial drilling.
Renforth intends to, upon receipt of required permits, strip an area of surface mineralization at Victoria West in order to get a better look at the mineralized system between and outside of two areas of existing outcrop. In addition to this Renforth intends to fly a detailed magnetic survey and produce a high-resolution photo-mosaic of Victoria West using drone mounted geophysical equipment. A drone survey is a low impact and cost-effective way to obtain very accurate information with a quick turnaround, this data would be used in the planning of Renforth’s next drilling at Surimeau.
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 polymetallic system, over ~5km of strike in the western end of the 20km central anomaly at Renforth’s wholly owned 260 km2 Surimeau District Property. 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.[/vc_column_text][/vc_column][/vc_row]