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Renforth Resources Inc (2)
Symbol RFR
Shares Issued 251,296,669
Close 2021-08-04 C$ 0.085
Market Cap C$ 21,360,217
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Renforth drills 11.75 m of 3.3 g/t Au at Parbec

2021-08-04 10:43 ET - News Release

Ms. Nicole Brewster reports


Renforth Resources Inc.'s PAR-21-132 has successfully twinned PAR-87-33 with several mineralized intervals, including 11.75 metres (m), which gave an average assay of 3.3 grams per tonne (g/t) gold (Au) between 130.15 m and 141.9 m down the hole, including a subinterval of 15.53 g/t Au over 1.75 m between 136.45 m and 138.2 m down the hole. Assay highlights for this hole are presented in this news release.

PAR-21-132 was the final planned twin hole left to report upon; there are still numerous Parbec assays from the 15,569 m drilled in the 2020/2021 drill program still to receive and report. This program successfully completed the twining of 10 per cent of the holes drilled between 1986 and 1993, where each twin hole drilled delivered assay results comparable with, or better than, the historic ones. In addition to this, numerous holes were drilled, in this program, but also notably in Renforth's previous drilling, in proximity to historic holes, with the results consistently comparable, supporting Renforth's position that the 1986 to 1993 data can be relied upon not only for lithological information but also assay values.

PAR-21-132 assay highlights

In the vertical section for line 5225E, it is clear that PAR-21-132 successfully twinned PAR-87-33 and returned notable assay values at comparable locations down the hole, at relatively shallow depths and within the current conceptual open pit for the May, 2020, mineral resource estimate (MRE), which did not include any assay data for any of the 1980s or 1990s holes on the section. All of the 2020 and 2021 drill holes were drilled subsequent to the 2020 MRE; a future MRE calculation for Parbec will benefit from the inclusion of assay data in this area, both 2020/2021 and prior.

Parbec top 10 drill intervals

The highlight interval reported on today has a metal factor which supports its inclusion in the top 10; in fact, the subinterval from PAR-21-132 of 15.33 grams per tonne (g/t) gold over 1.75 m does meet the metal factor cut-off for inclusion, however, the longer interval is used.

Surimeau district project update

Renforth would like to assure shareholders that assay data for the 3,456-metre drill program earlier this year, which drilled along 2.2 kilometres (km) of strike with visible sulphides in each hole, within the approximately five-kilometre-long Victoria West mineralized target area, is being received, albeit not as quickly as the company would like.

With the assay data received to date, the company's technical team can see that the nickel versus the zinc (and copper) systems are remarkably separate structures juxtaposed upon each other. This observation supports the choice of its technical working model, the Outokumpu deposit model.

Renforth anticipates that, due to the discovery nature of its work at Victoria West and the relatively small amount of work it has done within a sizable system (at only one of several on the 260-square-kilometre property), it will only release assay data upon receipt of all of the data and after an opportunity for its technical team, including its advisers, to consider those results, especially in the context of a potential Outokumpu-like deposit, which would be very unique outside of Eastern Finland.

Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d'Or, Que., where they were assayed for gold using 202-051 -- gold (Au) by fire assay, AAS (atomic absorption spectroscopy) 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, a qualified person pursuant to National Instrument 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-metre 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 polymetallic system, over approximately five km of strike in the western end of the 20-kilometre central anomaly at Renforth's wholly owned 260-square-kilometre Surimeau district property. 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 surface over a strike length of approximately 500 m. Renforth is well financed, with approximately $5-million in cash and securities on hand (as at May 14, 2021), in addition to the gold contained in the company's gold deposit.

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