August 5, 2020
Renforth Resources Inc. (CSE – RFR) (OTC US– RFHRF) (WKN – A2H9TN) (“Renforth” or the “Company”) is pleased to let shareholders know that visible gold was observed in several instances within the areas of the blasting work recently completed on the Discovery Veins. Location details are presented below. 1815 lbs. of representative material, in 100lb rice bag samples, comprised of randomly selected blast rubble and fine material taken from the bottom of each pit, has been sent to SGS Lakefield for test work which will include grindability tests, gravity concentration tests and gold recovery tests for each pit.
Discovery Vein Blasting
Renforth blasted in four areas of the ~275m stripped portion of the Discovery Vein gold system, located approximately 250m south of the Cadillac Break, on Renforth’s wholly owned New Alger Gold Project, which hosts an open pit constrained NI 43-101 Mineral Estimate, presented below.
Four area were chosen, as depicted in the map below, based upon results obtained in each area via comprehensive surface channel and grab sampling carried out by Renforth between 2014 and 2019, and location within the stripped area.
“A” Pit: previous surface results include 2.56 g/t Au over 0.45m, western end of stripped area, several instances of Visible Gold seen in blast pit and rubble
“B” Pit: previous surface results include 7.59 g/t Au over 0.9m, location of main historic Discovery Blasting (1920’s), Visible Gold seen in blast pit
“C” Pit: previous surface results include 11.60 g/t Au over 0.45m, Visible Gold seen in blast rubble
“D” Pit: previous surface results include 1.92 g/t Au over 0.7m, eastern end of stripped area
The visible gold in the picture above is from the A pit (westernmost) and is hosted by a pegmatitic quartz-albite-biotite vein. The outcrop that was blasted at this location returned several channel assays in the 1-3g/t Au range from a combination of blue quartz veins, and pegmatitic veins with arsenopyrite disseminations.
The four blast pits have been mapped and sampled in detail with particular focus on styles and orientations of veining, alteration and sulphide mineralization. Samples have been taken to test for any correlations between these features and gold grades, and to test for variation in gold grade along the strike of major veins and structures. Assay results from the samples taken will be released once available.
“Visible Gold is a novel thing to find, and was not expected to come out of this blasting, so it is very exciting. We look forward to the receipt of the assay and test results for the Discovery Vein area, so we can advance our goal of processing the material for recovery” states Nicole Brewster, President and CEO of Renforth.
Drilling at New Alger is nearing completion for this program, with 3 infill holes completed on the Discovery Veins and 5 step out holes to the west, for a total step out of 300m west outside of the stripped area of the Discovery Veins. Due to observations made in “B” blast pit the drill was re-oriented to drill north, in order to intersect observed flat lying veins, which could be missed when drilling south, the orientation used previously. Each of the 8 completed drillholes intersected mineralization characteristic of previous drilling, a significant number of samples have been taken for assaying, results will be reported once received. The final hole in the program, in the Mine Area of the property, targeting the completion of REN-20-40 which had to be stopped due to caving within the Cadillac Break earlier this year, is being drilled. This hole is targeting mine veins #1 and #2 at depth of ~400m vertical, drilled from the south and the competent Pontiac Sediments.
About New Alger
Renforth’s wholly owned New Alger Gold Project is located in the Cadillac Mining Camp, on the Cadillac Break, outside of the village of Cadillac, west of Malartic Quebec. The Cadillac Mining Camp is historically one of Quebec’s most prolific, and deep seated gold camps. New Alger’s neighbor to the north, with a shared property boundary, is the LaRonde Mining Complex of Agnico-Eagle. The neighbor to the east, with a shared border and geological structure, is the former O’Brien Mine, which ceased operations in the 1950’s, at an operating depth of 1500m. This mine, on the same Cadillac Break vein structure as New Alger, contrasts in terms of its’ 1500m operating depth with New Alger’s deepest pierce point, in the vicinity of the former Thompson-Cadillac Mine on the property, of 415m vertical depth. The Thompson-Cadillac Mine, located on the southern margin of the Cadillac Break, operated erratically from the late 1920’s to the early 1940’s, with a handful of production years which ended in the mid 1930’s, with several ownership groups and size increases to the processing plant, resulting in the production of 21,000 ounces of gold. The history of several operators and the mix of barren country rock and mineralized rock within the waste and tailings piles remaining on surface causes Renforth to consider that the historic mine was not an optimized operation.
Today New Alger hosts a NI43-101 Open Pit Constrained Mineral Resource Estimate as follows;
1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
3) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
4) Historically mined areas were depleted from the Mineral Resource model.
5.) The pit constrained Au cut-off grade of 0.32 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$17/t process cost and C$2/t G&A cost. The constraining pit optimization parameters were C$2.50/t mineralized mining cost, $2/t waste mining cost, $1.50/t overburden mining cost and 50 degree pit slopes.
6.) The out of pit Au cut-off grade of 1.44 g/t Au was derived from US$1,450/oz Au price, 0.75 US$/C$ exchange rate, 95% process recovery, C$66/t mining cost, C$17/t process cost and C$2/t G&A cost. The out of pit Mineral Resource grade blocks were quantified above the 1.44 g/t Au cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Additionally, only groups of blocks that exhibited continuity and reasonable potential stope geometry were included. All orphaned blocks and narrow strings of blocks were excluded. The longhole stoping with backfill method was assumed for the out of pit Mineral Resource Estimate calculation.
New Alger Underground Looking North-East
Brian H. Newton P.Geo is a “qualified person” pursuant to the requirements of National Instrument 43-101. He has reviewed and approved the technical information in this press release.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
Renforth Resources Inc. is a Toronto-based gold exploration company with six wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.
In Quebec Renforth holds the New Alger and Parbec Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. Each of these properties carries an open-pit constrained 43-101 resource. In both instances’ additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery. Renforth has acquired the Surimeau property, also contiguous to Canadian Malartic and the southern border of the Malartic West property. Surimeau hosts polymetallic mineralization and represents the consolidation of four historic properties into one for the first time. In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.
In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.
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.