03:55:59 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
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Renforth Resources Inc (2)
Symbol RFR
Shares Issued 251,296,669
Close 2023-08-30 C$ 0.015
Market Cap C$ 3,769,450
Recent Sedar Documents

Renforth Resources sells Radisson holdings for $1.4M

2023-08-30 11:22 ET - News Release

Ms. Nicole Brewster reports

RENFORTH FUNDED FOR FALL/WINTER EXPLORATION

Renforth Resources Inc. would like to inform shareholders that its shareholdings in Radisson Mining Resources have been fully liquidated for proceeds of $1.4-million. This liquidating transaction removes any uncertainty regarding Renforth's ability to finance in this challenging junior exploration market.

"We have significant dollars in the bank and we have gold ounces in the ground, we are actively exploring our district-scale battery metals property in Quebec. Surimeau hosts numerous pegmatites and is already proven to carry nickel, copper, zinc and gold, along with other metals in large mineralized systems on a property 4.5 times the size of the island of Manhattan. Our cash on hand represents almost 50 per cent of our current market capitalization, our other assets build on that base. Our plans for the rest of the year will build upon that combination again," states Nicole Brewster, president and chief executive officer of Renforth.

Renforth continues its continuing exploration at Surimeau, its field geologists are following up on target areas that were identified based on the summer 2022 prospecting program in search of lithium mineralization. The team has identified multiple pegmatite outcrops in areas that were previously not explored. The fieldwork is facilitated by easy road access and abundant outcrops. A total of 100 samples have been submitted to the ALS analytical lab, Val d'Or, Que., and assays are pending. Field conditions are ideal for boots on the ground prospecting work. Renforth anticipates that after a first round of prospecting there will be follow up, with assays in hand, before the snow flies. Renforth is currently designing a drill program for this winter which will focus on the central area of the approximately 20-kilometre-long Victoria mineralized structure with step-outs from the 2021 and 2022 drilling in that area which encountered a mineralized package that included a mineralized graphitic shale horizon in the south, a main zone composed of Ni/Co/Pt (nickel/cobalt/platinum) and Pd (palladium) mineralization interlayered with Zn/Cu/Ag/Au (zinc/copper/silver/gold) and, discovered in 2022 drilling, additional mineralized horizons north of the main package.

Technical disclosure in this press release has been reviewed and approved by Francis R. Newton, PGeo, OGQ, a qualified person pursuant to National Instrument 43-101.

About Renforth Resources Inc.

Renforth is a secure multicommodity area play with the dominant brownfield land position south of the world class Cadillac-Larder Lake fault (CLLF) in the prolific Cadillac and Malartic mining camps of Quebec's Abitibi. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth's land position encompasses several areas of interest. In the more than 300 square kilometres Renforth holds, there are both resources and mineralized ground undergoing exploration to extend zones and define the amount of metal in structures.

We seek Safe Harbor.

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