December 14, 2022
Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to advise shareholders that our Surimeau drill program is complete with 3076m drilled in 11 drill holes, all of which intersected the targeted mineralization, resulting in the visual identification of nickel, copper and zinc sulphides during logging. Drill holes at Lalonde and Victoria are mapped and summarized below.
“This program delivered more of the same as the last drill program, Victoria consistently demonstrates the presence of critical minerals, supporting our geophysical tools and reflecting what we have seen on surface. Now Lalonde, ~4km north of Victoria, is proving to also be consistently mineralized as indicated in geophysics, specifically the mag and EM survey. We know what we need to do, drill more, in order to quantify the amount of nickel, cobalt, copper and zinc (along with other metals), present at or near surface in these two areas of interest on the property. So, drilling is what we will do” states Nicole Brewster, President and CEO of Renforth.
Drilling at Lalonde this program, the first time Renforth has drilled this mineralized structure, consisted of 7 drill holes designed to undercut the mineralized trenches (press released Nov. 28, 2022) and drill test an anomaly identified by interpretation of the magnetic and EM survey data. In the case of the drill holes undercutting the trenches the mineralized zones seen on surface were successfully intersected underground, SUR-22-32, was drilled between two trenches, adjacent to a historic pit on the western edge of the power line corridor. The final two holes were targeting an anomaly identified by an interpretation of the geophysical data within the magnetic structure that forms Lalonde and stretches beyond the ~9km of the structure which Renforth has ground-proven. Both of these holes also intersected mineralization, the final hole was drilled at an angle in order to test the anomaly at depth under the road.
At Victoria 4 holes were drilled within the 2.2km east/west strike footprint of the drilling to date. In this case the first hole was drilled into a high priority target resulting from the interpretation, this hole was drilled north due to access issues. The remaining three holes were drilled to test for the presence of a northern anomaly/mineralized zone above the previously drilled area, indications of which were seen in prospecting. The three drill holes confirm the presence of a secondary mineralized structure, as suggested by the interpretation, not previously seen in stripping (as it was too far south) or drilling (as the structure dips to the north/vertically and drill holes were collared just to the south of it). All of the holes drilled at Victoria this program intersected mineralization in the lithologies and locations expected.
Q1 2023 Drill Program
Renforth has commenced planning a Q1 2023 drill program which will target the never before explored or drilled western anomaly at Victoria, indicated by the black box in the left of the interpretation map inserted below. Initial prospecting in 2021 delivered surface mineralization in this area, which coincided with the subsequently flown mag/EM survey, and again delivered surface mineralization in confirmation prospecting in 2022. The recently received interpretation of the geophysical information has established this area as a high priority target. This is supported by results in 2021 and summer 2022 which produced a number of grab samples ranging from 0.1 up to 0.18% Ni, up to 0.4% Zn and up to 100ppm Co. These samples were taken from a mix of albitized to strongly albitized ultramafics, graphitic mudstone and albitized sediments, all roughly on strike of the main Victoria trend but approximately 4km west of the current extent of drilling.
In addition, Renforth would like to inform shareholders that its Annual General Meeting of Shareholders was recently held and the following individuals were approved to serve as directors of Renforth for the ensuing year: Nicole Brewster, Kurt Breede, Wally Rudensky, Aline Leclerc, Kellie Leitch, John Webster and Judi Wood.
The shareholders also approved McGovern Hurley Cunningham LLP serve to as auditors of Renforth for the ensuing year.
All material from the Annual General of Shareholders including Renforth’s audited annual financial statements are available on SEDAR at www.sedar.com.
Assay results from this drill program will be released as available.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton OGQ a “qualified person” pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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Renforth is focused on Quebec’s newest battery metals district, our wholly owned ~330 km2 Surimeau District Property, which hosts several known areas of polymetallic “battery metals” mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a 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 to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
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.