18:48:50 EDT Thu 18 Apr 2024
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Renforth Resources Inc (2)
Symbol RFR
Shares Issued 106,310,829
Close 2018-03-21 C$ 0.04
Market Cap C$ 4,252,433
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Renforth Resources resumes drilling at Parbec

2018-03-21 09:42 ET - News Release

Ms. Nicole Brewster reports

RENFORTH RESUMES DRILLING AT PARBEC, GEOPHYSICS COMPLETED AT NEW ALGER, WEST MALARTIC

Continuing definition drilling has resumed on Renforth Resources Inc.'s Parbec resource property, located on the Cadillac Break, tied onto the Canadian Malartic mine in Malartic, Que. This drill program segment, anticipated to consist of about 1,500 metres of drilling, follows drill campaigns in December, 2017, and January, 2018, by Renforth where a total of 2,884 metres were drilled in 14 drill holes at Parbec, with each hole drilled intersecting gold outside of the March, 2016, resource model, redefining and extending the mineralization at Parbec. The local availability of contractors and road access on the property allows Renforth to segment the planned drilling at Parbec into small programs, with stoppage time to allow for the receipt of assay results and incorporation of that data into the newly completed 3-D deposit model, incorporating results obtained in the planning of the next program segment on a continuing basis.

New Alger geophysics

Renforth is pleased to inform shareholders that 840 kilometres of a high-resolution Quadri-Mag, VLF (very low frequency) and AFMAG heliborne survey were completed the first week of March by Eagle Geophysics. The data obtained are currently being processed and interpreted. Eagle Geophysics has developed and modified geophysical equipment and software to provide the best resolution possible in several layers of information to help understand the structural fabric at surface and at depths of up to one km. One of the uses for this survey is in the company's continuing structural interpretation of the relationship between the gold-bearing surface Discovery veins and the Thompson-Cadillac mine area resource to the Cadillac Break and its Deformation zone, recently identified at New Alger.

West Malartic geophysics by SOQUEM

Renforth is also pleased to inform shareholders that SOQUEM has recently completed an initial exploration program under its earn-in requirement of a total of $1.3-million in project spending over three years to earn a 50-per-cent interest in the West Malartic property. At West Malartic, also tied on to the Canadian Malartic mine, in this case south of the Cadillac Break, SOQUEM cut a total of 160 km of line, followed by surveying 140 km of ground IP. The data resultant from this survey, along with other property information available, are being incorporated into a comprehensive georeferenced property dataset by SOQUEM. In addition Renforth is advised that SOQUEM intends to prospect at West Malartic this summer, followed by a drill program. Renforth looks forward to the continuation of this investment in West Malartic by SOQUEM, additional information will be shared with Renforth's shareholders as it is available.

"We continue to develop each of our properties, defining resources and pursuing exploration. Our goal is to demonstrate the potential of each of our properties as best we can. At our resource properties on the Cadillac Break, New Alger and Parbec, this means exploring new discoveries, defining the presence and extent of gold on the properties, and adding ounces with a drill bit. We are fortunate to have a property the calibre of West Malartic, gold bearing and tied on to Canadian Malartic, to offer SOQUEM the opportunity to exercise their proven exploration ability at, adding value for Renforth while earning their interest. At each of the gold-bearing Denain-Pershing and Nixon-Bartlemen properties we have commenced data acquisition and compilation in order to formulate our initial and continued exploration respectively, with resource definition the focus at Nixon-Bartlemen. We have five gold-bearing properties on, or associated with, proven gold-bearing structures in active gold exploration camps. We are focused on demonstrating the maximum value in our ground we can," states Nicole Brewster, president and chief executive officer of Renforth.

Mark Wellstead, PGeo, OGQ special authorization No. 388 of Minroc Management, is a qualified person pursuant to the guidelines of National Instrument 43-101 and has reviewed and approved the technical disclosure in this press release.

We seek Safe Harbor.

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