Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce the commencement of a stripping campaign over ~200m of the known ~450m strike length of the gold bearing Discovery Vein Horizon on the Company’s wholly owned New Alger gold resource project, located in Rouyn-Noranda, Quebec.Press Release Highlights; Stripping planned over ~200m of the known … Continued
Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce the commencement of a stripping campaign over ~200m of the known ~450m strike length of the gold bearing Discovery Vein Horizon on the Company’s wholly owned New Alger gold resource project, located in Rouyn-Noranda, Quebec.
Press Release Highlights;
- Stripping planned over ~200m of the known ~450m of gold bearing Discovery Vein Horizon on New Alger Property
- Previous 2014 channel sampling of outcrop in the Discovery Vein Horizon yielded results including 12.3 g/t Au over 0.7m and 11.6 g/t Au over 0.5m
To view the graphic in its original size, please click here
“During the 1930’s, mine workings were driven south to the Discovery Vein Horizon area with drifting to the west. To date no records of recovery, or what was on surface in the location to cause this significant underground development, are available,” said Nicole Brewster, President and CEO of Renforth.
She continued, “Our first goal is to start exposing the quartz veining through the stripping of this known, gold bearing strike, located in the Pontiac Sediments, a setting which is very similar to the nearby Canadian Malartic Mine. In addition to hoping to uncover additional veining not currently visible due to overburden we hope to answer the question of what drove the underground development from the mine, what surface mineralization did they chase at depth in the 1930’s. We are on the cusp of better understanding the potential in this area and I look forward to updating you in the near future on our progress and next steps.”
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.
President and Chief Executive Officer
#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.