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Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that stripping on the Discovery Vein showing, located approximately 250m south of the Mine Area Resource on the wholly-owned New Alger property, has been completed.
Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that stripping on the Discovery Vein showing, located approximately 250m south of the Mine Area Resource on the wholly-owned New Alger property, has been completed. Previous stripping of outcrop in the eastern portion of the now 230m of exposed structure yielded assays including 12.33 g/t Au over a 0.7m channel cut in the 2014 exploration season. The completed stripping has revealed several en-echelon quartz veins over the entirety of the 230m stripped. The stripping is situated in correlation to historic underground workings, as shown, for which no production data is available, on the crest of a hill and only 200m south of the #117 – Trans-Canada Highway Northern Route which crosses the property.
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A preliminary description of the newly discovered system is that it is comprised of a continuous, strongly dipping vein structure containing a sulfide poor (1-5%), free gold system. The mineralized veins are hosted by a strongly folded sedimentary package at greenschist facies and are controlled by detachment planes along preserved fold hinges.
“We have stripped 230m between the west and the east showings uncovered in 2014 on our property and uncovered a portion of the ~450m structure identified in 2014 to reveal a series of veins. We believe that we are dealing with a structure that mirrors the Cadillac Break, located in the north of our property, effectively doubling our exploration targets on the project. It’s a very exciting opportunity to add road accessible surface gold mineralization to the property,” states Nicole Brewster, President and CEO of Renforth.
Channels have been cut perpendicularly across the veining uncovered in the stripped area as depicted above, assay results will be released once available.
Mark Wellstead P.Geo, OGQ Special Authorization #388 of Minroc Management is a “qualified person” pursuant ot the guidelines of National Instrument 43-101 and has reviewed and approved the technical disclosure in this press release.
ABOUT RENFORTH’S PORTFOLIO
Renforth has recently raised just over $600,000 and has commenced deploying this capital in connection with property exploration, acquisition and payments. Recently, in addition to this acquisition of additional gold bearing ground in the Val d’Or mining camp, Renforth has completed a field program on its gold resource bearing Parbec Property, located contiguous to the large, open pit Canadian Malartic Mine, on the Cadillac Break outside the Town of Malartic, Quebec. A discovery of a new gold mineralization type at Parbec this season was press released on July 12, 2017, this mineralization is outside of the area of the maiden gold resource established by Renforth at Parbec in March 2016. That resource tonnage consists of 262,230 t Indicated at a grade of 3.62 g/t Au containing 33,592 ounces and 7,256,872 t Inferred at a grade of 2.01 g/t Au representing 514,108 ounces (press release Mar 7, 2016). Renforth is presently awaiting the balance of assay results from this program and will press release those once available. Renforth deems this program successful in that it resulted in a new discovery and will offer drill targets in that and other unexplored areas of that property.
Additionally Renforth has recently optioned its’ wholly owned brownfield exploration West Malartic property, also contiguous to the Canadian Malartic open pit mine, to SOQUEM, a Quebec crown corporation with expertise in the discovery and development of new mineral assets in the Province of Quebec. Renforth looks forward to the results of SOQUEM’s required $1,300,000 in exploration on the property, with an initial, committed and approved by Renforth, $300,000 program consisting of prospecting and geophysics expected to be commenced in the near future.
In addition to these currently active mineral assets Renforth also owns the gold resource bearing New Alger Project, located on the Cadillac Break approximately equidistant between Rouyn and Val-d’Or Quebec. This property presently consists of both the historic Thompson-Cadillac Mine where Renforth established a maiden Inferred resource of 3,505,000 tonnes containing 237,000 ounces of gold at a grade of 2.1 gt/t Au (July 17, 2014) at surface. This shares the vein structure of the adjacent historic producer of >500,000 ounces of gold at an average grade of approximately 15 g/t Au, the O’Brien mine. Also on the property is Renforth’s discovery of gold bearing quartz veins on surface in the sediments south of the mine. This vein system has been traced over >450m and returned grades including 11.6 g/t Au over 0.5m (press release Dec 9, 2014), this surface discovery is not included in the resource. Renforth’s next step at this property, anticipated to occur this summer, will be to strip a portion of the gold bearing surface quartz veining in order to better assess the extent of the mineralization and potential for mini bulk sampling of the veining.
In Ontario Renforth holds the Nixon-Bartleman property, located west of Timmins. This property has seen intermittent exploration, with a significant amount of work done, including Renforth’s own surface channel which assayed 22.1 g/t Au over 0.3m (press release Sept. 10, 2014) part of a structurally controlled mineralized system now traced over >450m on surface. Renforth’s next step at this property will be a compilation of all of the exploration data.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#200 – 65 Front St. E, Toronto, ON M5E 1B5
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
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Source: www.fscwire.com