November 18, 2020
Renforth Resources Inc. (CSE – RFR) (OTC US– RFHRF) (WKN – A2H9TN) (“Renforth” or the “Company”) has received the balance of assays for drill hole PAR-20-100, and results for the top of hole PAR-20-101, the first two holes in our ongoing drill program at our wholly owned Parbec open pit gold deposit. Parbec is a bulk tonnage gold property on the Cadillac Break, adjacent to the Canadian Malartic Mine, which also has custom milling solutions within a 10km radius. The current drill program is building upon our maiden May 2020 NI 43-101 compliant Open Pit Constrained Resource Estimate at Parbec, with a restatement expected in Q2 2021.
PAR-20-100 continued to yield gold assay values through the remainder of the hole not previously reported. The top of PAR-20-101 delivered 13.2m of 1.09 g/t Au, which includes 2.6m of 3 g/t Au, starting at only 7m down hole. Highlights of each hole are presented below:
*PAR-20-100 assays for 18.5-111m were previously released Oct. 28/20
PAR-20-101 Highlights (partial results received)
At the end of dayshift on November 17th PAR-20-119 was commenced, with 6,498m drilled in 19 holes completed to date in the current program.
Presented above is a plan view of PAR-20-100 and PAR-20-101 with the other nearest drill holes. Note that this is presented on a UTM grid, with PAR-20-100 and PAR-20-101 drilled north, whereas most drilling at Parbec is drilled at 34° in order to intersect the Cadillac Break, which runs NW to SE on the property (and in the map above), at a perpendicular angle. The first two holes in this program were drilled in order to test for cross-cutting structures and to provide down-dip extension. Initial interpretation of the core and assay data suggests that there likely is a cross-cutting structure in two instances in the top of the holes and down dip extension was provided for other intervals. Note that only partial assays are received for PAR-20-101 at this time.
Samples up to and including PAR-20-108 have been delivered to the lab for assay, for a total of 3973m submitted, there are currently 2525m still to be split and delivered. To date Renforth has received results for 500.15m of sampling, to 83.15m down the hole of PAR-20-101.
Renforth is on pace to exceed the targeted 7000m in the current Phase I of the planned 15,000m total drill program at Parbec. Drilling will continue until Christmas break and resume in the New Year with the balance of the targeted 15,000m drilled in Q1 2021. It is planned that there will be an update to the May 2020 NI 43-101 Open Pit Constrained Mineral Resource Estimate for Parbec undertaken in Q2 2021, upon receipt of the new drill data. During the current drill program, Renforth is conducting infill drilling to close spacing gaps both on strike (NW-SE within the resource model) and down dip (between shallower and deeper pierce points), along with drilling step outs down dip. Success in these drill holes would positively impact the next resource estimate. In addition to this, Renforth will be twinning certain historic (1980s) drillholes in order to validate the historical data set and bring the assay results into the resource model. In the May 2020 Resource Estimate, the only assay data included in the model was based on drill results from 2007 to the present; these are all drillholes which Renforth either has (or can access) the witness core for. Drill data prior to 2007 was only used for geological contour purposes in the resource model, with no grade assigned.
Sample data released today is taken from samples which were selected and split in the field, bagged, tagged and sealed under direct supervision, and personally delivered to the facilities of ALS Canada Ltd. in Val d’Or, Quebec. The samples were assayed using fire assay for gold with a gravimetric finish.
Brian H. Newton P.Geo, a “qualified person” under NI 43-101, has reviewed and approved the technical disclosure 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 five wholly owned mineralized properties located in the Provinces of Quebec and Ontario, Canada.
In Quebec Renforth holds the Parbec Property in the Malartic gold camp, with gold present at surface and to some depth, located on the Cadillac Break, contiguous to the East Amphi portion of the Canadian Malartic Mine property. Parbec carries an open-pit constrained 43-101 resource with additional gold bearing structures, outside of the Cadillac Break on the property, outside of the current resource. Toll milling facilities are located in proximity to Parbec, as closely as within 10 km. 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 property for the first time, creating an approximately 50km mineralized geophysical system within southern (20kms) and northern (30kms) arms. 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.