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Renforth completes final payment on Parbec

2019-02-04 11:53 ET - News Release

Ms. Nicole Brewster reports

RENFORTH COMPLETES PARBEC PAYMENTS, UPDATE ON CURRENT DRILLING

Renforth Resources Inc. has completed the final cash payment, of $200,000, and final share issuance, of 250,000 shares, required under the terms of Renforth's 100-per-cent option on the Parbec property, located in Malartic, Que., contiguous to the Canadian Malartic mine. Renforth has until January, 2020, to complete the work required on the property. There is currently a drill program under way, as announced on Jan. 23, 2019.

The current program is expected to complete the third hole today, with approximately 950 metres drilled to date. General details of the current program are as follows.

PAR-19-95:

  • Target -- a stepout to the east from prior drilling test strike extensions of the gold-bearing Discovery zone porphyries and magnetic diorite occurrences;
  • Result -- the targeted lithologies are observed in the drill core, total length of 252 metres.

PAR-19-96:

  • Target -- this was an exploratory stepout to the east of approximately 150 metres from PAR-19-95, targeting the Cadillac Break;
  • Result -- this hole intersected several porphyries interbedded with sediments carrying pyrite stringers, that follow joints and shears within the porphyry, and pyrite clots within pegmatitic vein zones, total length of 306 metres.

PAR-19-97:

  • Target -- the depth extension of the gold-bearing No. 2 zone diorites;
  • Result -- this hole has successfully intersected the downdip extension of the targeted diorite zone, as well as a number of wide weakly silicified zones and narrow magnetic diorite-type zones. In addition, the hole intersected an interesting tuff zone farther north than expected; once the contact with the volcanics to the north is reached, this hole will terminate, anticipated to be today. The hole is at a current length of 399 metres.

The core from this program is being logged. Samples selected will be cut, bagged and tagged, and delivered for assay. Once available, results will be press released.

Brian H. Newton, professional geoscientist, a qualified person, has read and approved the technical disclosure in this press release.

We seek Safe Harbor.

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