29 January, 2019
Renforth Resources Inc. (CSE – RFR)(“Renforth” or the “Company”) is pleased to announce results for the first three holes drilled at Parbec in the December 2018 program, which include 11.56 g/t Au over 1.1m in PAR-18-88, the first hole in that program. The December 2018 program was designed to test the presence of shallow mineralization with grade and continuity outside of a 50m buffer zone from the rail line, and to extend and increase the mineralized zones. Each of PAR-18-88, PAR-18-89 and PAR-18-90 successfully intersected mineralization as targeted, defining shallow mineralization and expected to result in positive impact to the resource at Parbec upon recalculation. Results are still pending for the other 4 holes in the December 2018 program, these will be released once available.
This drill hole on line 4975E was designed to drill under PAR-17-69 (22.3m of 0.6 g/t Au including 4.7m of 1.26 g/t Au press released Jan. 23 2018) and over PAR-18-84 (14m of 3.06 g/t Au press released Sept. 11 2018), effectively in between, designed to fill in the steeply vertical mineralized zone seen on that section. This hole, with the results noted above, was a successful infill drill hole, including mineralization in two zones intersected above a vertical depth of 90m, outside of the 50m setback from the rail line.
This hole, on line 5000E, was an overcut of PAR-18-70 (intervals including 14.1m of 1.26 g/t Au and 3.7m of 3.16 g/t Au press released Feb. 26 2018), designed to expand the zones seen in the hole. PAR-18-89 successfully did this, extending the mineralized zone up-dip on line 5000E as demonstrated in the assays noted above. Mineralization encountered was above a vertical depth of 75m, outside of the 50m setback from the rail line.
This drill hole, also on line 4975E, now the deepest hole on that section line, is an undercut of PAR-18-84, specifically targeting a deeper intersection of the interval in PAR-18-84 which assayed 4.66 g/t Au over 9.45m in that hole (press released Sept 11 2018), which was successfully intersected in PAR-18-90 with 2.18 g/t Au over 7.4m, interpreted as a depth continuation of the PAR-18-84 zone. This intersection was also outside of the 50m buffer zone.
“These initial results support our hypothesis that, Parbec, with 80% of its NI 43-101 Resource Estimate sitting above a vertical depth of 200m, in the NW largely outside of the 50m setback from the rail line, is a similar setting to the former East Amphi pit, on the Canadian Malartic Mine Property contiguous to and on-strike of Parbec to the east. This setting may offer a “fast track” to production option in a mature mining camp with several time, and cost, saving toll-milling options available” states Nicole Brewster, President and CEO of Renforth.
Samples reported on in this press release were selected in the field, cut, bagged and tagged under the supervision of Francis Newton P.Geo and Mark Wellstead P.Geo and then personally transported to Bourlamaque Laboratories where they were fire assayed for gold. The lengths given in this press release refer to core lengths as measured in the core box.
Brian H. Newton P.Geo, a qualified person pursuant to the guidelines contained in National Instrument 43-101, has approved the technical information found 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
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.