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Renforth Resources (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce the commencement of a drill program on the Parbec Resource Property focused on near surface gold mineralization discovered in the NW portion of the property this year.
Renforth Resources (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce the commencement of a drill program on the Parbec Resource Property focused on near surface gold mineralization discovered in the NW portion of the property this year. This zone, referred to as the “Partridge Zone”, has been tested with 11 holes and one surface trench. This program will test the continuity of the mineralization, designed to confirm and extend grades and thicknesses intersected to date. If results from this program warrant Renforth will commence a complete evaluation for recovery of the shallower portion of the mineralization by open pit. Renforth has planned slightly more than 2000m in this program phase, prior to stopping work for the holidays it is likely only half of the drilling will be completed.
Partridge Zone Highlights
- Holes drilled during 2017-2018 programs returned a series of intervals with grades ranging from 1 to 4 g/t forming intervals going from 2 meters to up to 30 meters of core length.
- Examples: PAR-18-70: 14.1m @ 1.26g/t Au; PAR-18-73: 32.6m @ 1.435g/t Au; PAR-18-74: 10.5m @ 2.46g/t Au; PAR-18-85: 10.8m @ 1.69g/t Au and the high-grade PAR-18-74 zone 9.45m @ 4.66g/t Au
- Mineralized trench channel sampled in 2017 returned 1.55g/t Au over 9 meters
- Partridge zone drill intercepts are from surface to a depth of 150m
- Several holes drilled host multiple mineralized zones within the hole
“We are happy to continue to drill Parbec, the only gold deposit located within 5 kms of the Canadian Malartic Mine not controlled by the Mine or Agnico. This program is designed to help us prove our hypothesis that the near surface mineralization at Parbec in the Partridge Zone will be able to be accessed via a small open pit. If successful this would be a repeat of what McWatters Mining did at East Amphi in the early 1990’s, a bit more than 1 km to the east, on strike and contiguous to Parbec. East Amphi and its remaining underground resource are now part of the Canadian Malartic Mine” states Nicole Brewster, President and CEO of Renforth.
General corporate affairs of late have included the following;
- Renforth raised $89,000 by way of private placement of common share units at 5 cents consisting of one share and one warrant, the warrant exercisable for 24 months at $0.10 cents
- Renforth purchased a 1% NSR on New Alger held by a third party for consideration of $50,000 and 2 million shares of Renforth
- Renforth obtained a 12 month extension to the Parbec work commitment in exchange for a 1% NSR at New Alger and a total of 5 million shares of Renforth (2.5m now and 2.5m at the end of the extension)
Technical Information in this press release has been reviewed and approved by Brian H. Newton P.Geo, a “qualified person” pursuant to the guidelines of 43-101.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T:905-831-9606
E: nicole@renforthresources.com
#269 – 1099 Kingston Road, Pickering ON L1V 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.
Click here to connect with Renforth Resources (CSE:RFR) for an Investor Presentation.
Source: www.accesswire.com
