May 12, 2021
- PAR-21-130 successfully “twinned” PAR-93-55, the assay results of which were not used in the May 2020 Resource Estimate for Parbec
- PAR-21-130 intersected mineralization in addition to that recorded in PAR-93-55 due to the limited sampling undertaken in PAR-93-55
- PAR-21-130 was an overcut of PAR-20-109 which intersected 12.85m of 0.69 g/t gold, demonstrating vertical continuity of mineralization
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to update shareholders on the results of PAR-21-130, the first hole from our 2021 drill program to be reported on, which was a successful twin of PAR-93-55, supporting the 1993 data. PAR-21-130 was a shallow 123m drill hole, entirely within the NI 43-101 May 2020 Resource Estimate open pit. In PAR-21-130 the interval of 14.1m of 2.15 g/t Au, which support the historic 1993 result of 9.3 g/t gold over 4.3m and extends the mineralization further, occurs at a vertical depth of approximately 75m.
In the vertical section for 5150NW presented above PAR-21-130 is seen terminating in the pit wall, slightly longer than PAR-93-55, which is difficult to read as the symbol for the end of PAR-21-130 overprints the hole number for PAR-93-55. Through both of the hole labels the trace for the drillhole of PAR-87-16, drilled in essentially the same place, is also drawn with that hole ending at the outer edge of the pit wall. PAR-87-16 intersected 5.27 g/t gold over 4.88m. The main mineralized interval in all three holes is occurring at a vertical depth of 75m, the scale of this vertical section causes the intervals to overprint each other. Two drillholes, PAR-93-56 and PAR-93-61, which were collared to the north of PAR-93-55/PAR-21-130 and drilled shallower, also demonstrate the vertical continuation of the mineralized horizon. Results for PAR-20-128, a deeper undercut of all the drilling on this section, are still awaited.
Assay Highlight Table
|Drillhole||Grid East||Grid North||From (m)||To (m)||Length (m)||g/t Gold|
*assay intervals are as measured in the core box, not true width.
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 ~$6 million in cash and securities on hand (*as at 03/15/21), 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.