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Renforth Resources Inc (2)
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Close 2021-05-12 C$ 0.095
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Renforth drills 14.1 m of 2.15 g/t Au at Parbec

2021-05-12 08:16 ET - News Release

Ms. Nicole Brewster reports


Renforth Resources Inc. has updated shareholders on the results of PAR-21-130, the first hole from its 2021 drill program to be reported on, which was a successful twin of PAR-93-55, supporting the 1993 data. PAR-21-130 was a shallow 123-metre drill hole, entirely within the National Instrument 43-101 May, 2020, resource estimate open pit. In PAR-21-130 the interval of 14.1 m of 2.15 grams per tonne Au, which supports the historic 1993 result of 9.3 g/t gold over 4.3 m and extends the mineralization further, occurs at a vertical depth of approximately 75 m.

  • PAR-21-130 successfully twinned PAR-93-55, the assay results of which were not used in the May, 2020, resource estimate for Parbec.
  • PAR-21-130 intersected mineralization in addition to that recorded in PAR-93-55 due to the limited sampling undertaken in PAR-93-55.
  • PAR-21-130 was an overcut of PAR-20-109, which intersected 12.85 m of 0.69 g/t gold, demonstrating vertical continuity of mineralization.

In a vertical section for 5150NW available on-line, PAR-21-130 is seen terminating in the pit wall, slightly longer than PAR-93-55, which is difficult to read as the symbol for the end of PAR-21-130 overprints the hole number for PAR-93-55. Through both of the hole labels the trace for the drill hole of PAR-87-16, drilled in essentially the same place, is also drawn with that hole ending at the outer edge of the pit wall. PAR-87-16 intersected 5.27 g/t gold over 4.88 m. The main mineralized interval in all three holes is occurring at a vertical depth of 75 m, the scale of this vertical section causes the intervals to overprint each other. Two drill holes, PAR-93-56 and PAR-93-61, which were collared to the north of PAR-93-55/PAR-21-130 and drilled shallower, also demonstrate the vertical continuation of the mineralized horizon. Results for PAR-20-128, a deeper undercut of all the drilling on this section, are still awaited.

                                   ASSAY HIGHLIGHT TABLE

Drill hole              From (m)              To (m)          Length (m)          Gold (g/t)

PAR-21-130                 22.5                  24                 1.5                0.59
PAR-21-130                 26.7               27.45                0.75                2.55
PAR-21-130                 38.5                  42                 3.5                3.02
PAR-21-130                   49                50.5                 1.5                2.86
PAR-21-130                 91.9                 106                14.1                2.15
incl.                      91.9               100.5                 8.6                3.05
incl.                      98.5               100.5                   2                6.69

* Assay intervals are as measured in the core box, not true width.

Samples referred to in this press release were selected, split, bagged and tagged in the field and delivered to the facilities of AGAT Laboratories in Val d'Or, Que., where they were assayed for gold using 202-051-Au by fire assay, AAS finish and 202-064-Au by fire assay, gravimetric finish for overlimit (over 10 g/t Au) values.

Technical disclosure in this press release has been reviewed and approved by Francis R. Newton, PGeo (OGQ No. 2129), a qualified person pursuant to NI 43-101.

About Renforth Resources Inc.

Renforth holds the Parbec open-pit-constrained gold deposit in Malartic, Que., contiguous to the Canadian Malartic mine, with a 2020 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. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569 m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this, Renforth has discovered a nickel-bearing ultramafic, coincident with a copper/zinc volcanogenic massive sulphide, over about five kilometres of strike in the western end of the 20 km central anomaly at Renforth's wholly owned 215 square km Surimeau property. This prospect was discovered on the surface and the subject of a very short, shallow drill program. A more robust drill program is planned for spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins, Ont., with gold present on the surface over a strike length of about 500 m. Renforth is well financed, with about $6-million in cash and securities on hand (as of March 15, 2021), in addition to the gold contained in its gold deposit.

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