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Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that December 2017 drilling has extended the mineralized resource model horizons at Parbec by 60m on strike to the NW with gold intersected in each of seven holes.
Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that December 2017 drilling has extended the mineralized resource model horizons at Parbec by 60m on strike to the NW with gold intersected in each of seven holes. In fact, the north-westernmost, PAR-17-69, encountered gold over a total of 22m in one lithology. The December drill program was a success and validated management’s interpretation of the deposit. A comprehensive program summary, including assay results, discussion of results of each hole, an illustration of the drillholes relative to the tuff horizon of the resource model and comparison to the adjacent East Amphi Mine portion of the Canadian Malartic Mine property are all included in this press release. Renforth has made the January 2018 payment of $125,000 required under the option agreement, at this time the January 2018 drill program at Parbec is ongoing, results for the current program will be released once available.
“Our first exploration drilling at Parbec extended the mineralization outside of our model, or filled in gaps within our model, with every drillhole. With downdip, updip and strike extensions where our resource model and geological understanding indicated they should be found we have validated our model and increased the known mineralization at Parbec. It is very exciting to have the opportunity to build value while we grow our deposit size right beside one of Canada’s largest goldmines, in a very mature mining camp, in the most cost-effective project setting we could desire. I look forward to continuing to drill off this deposit.” States Nicole Brewster, President and CEO of Renforth.
Tuff Horizon Schematic Long Section with 2017 Pierce Points
Depicted in this illustration is a portion of the property and of the tuff horizon, which was used in the maiden Parbec Resource published by Renforth in March 2016 with the December 2017 drilling pierce points on a long section through a portion of the deposit, oriented NW/SE. Other horizons within the resource are not shown in this long section, these other horizons are south of the tuff horizon, closer to the viewer, in each drill hole the other horizons were also intersected. The geological interpretation, illustrating the relationship of the felsite, porphyry, diorite and tuff horizons follows the long section.
Idealized Cross Section
Selected Assay Results
Drill Program Results by Drillhole
Drill holes are numbered in the order drilled, the “P” series of numbers refers back to Renforth’s Nov. 29, 2017 press release announcing the program, the hole target is referred to in the same release, the line number indicates the UTM Easting the hole was collared on, drilling covered 525 metres east/west.
PAR-17-63 – P12 – #2 Zone Infill – line 5450
• This hole was designed to twin PAR-86-06 which gave results of 5.46 g/t Au over 12.5m. Successfully twinned with a result in PAR-17-63 of 2.34 g/t Au over 11.05 m, results demonstrate nugget effect
PAR-17-64 – P13 – #2 Zone Infill –line 5525
• This hole resulted in a 45m down dip extension of mineralization modeled on Diorite and Porphyry horizons and confirms the Tuff zone
PAR-17-65 – P11 – Camp Zone Expansion and Infill – line 5375
• This hole resulted in an up dip extension of 45m, filling a gap in the model
PAR-17-66 – P10 – Camp Zone Expansion and Infill – line 5250
• This hole resulted in a 30m up dip extension of the tuff zone
PAR-17-67 – P7 – Camp Zone Expansion and Infill – line 5125
• This hole resulted in down dip extension of the Tuff mineralization by 55m and a 25m strike extension
PAR-17-68 – P4 – West Camp Zone Extension – line 5025
• This hole successfully intersected the Tuff mineralization seen in 1940s drilling, a 35m down dip extension, as well as intersecting other mineralized horizons
PAR-17-69 – P2 – West Camp Zone Extension – line 4925
• This hole extended the mineralized package at Parbec by 60m on strike to the NW, including the Tuff zone at depth in the hole and a total of 22m of mineralized diorite and porphyry lenses in the top of the hole
Canadian Malartic – East Amphi Mine Relationship
The East Amphi mine was operated by McWatters as an open pit in the “B” zone after acquisition in 1998 with production of 120,427 tonnes of ore at an average diluted grade of 5.66 g/t Au1. After acquisition in 2003 Richmont Mines Inc. established resources in the measured and indicated category as of December 31, 2005 of 1,436,052 tonnes at a grade of 5.33 g/t Au for a total of 246,295 ounces of gold and inferred resources stand at 332,711 tonnes at 6.09 g/t Au for 65,134 ounces of gold2. In June of 2007 Richmont Mine Inc. records the sale of East Amphi to Osisko Exploration Ltd. for proceeds of $8,536,0003, today the East Amphi Mine forms part of the Canadian Malartic Mine property.
Renforth has interpreted the mineralized zones at East Amphi (A, B, P) as similar to those at Parbec, the “A” zone is similar to Parbec’s “Tuff” zone, lying within the chlorite schists. The “B” zones lie on the sheared contacts of porphyry and diorite bodies, similar to the diorite hosted zones at Parbec’s #2 Zone, the East Amphi “P” Zone is interpreted as the same as the Parbec Porphyries. The resource which was outlined at East Amphi was to a depth of 600m, the deepest mineralization within the Parbec resource is at 275m, the deepest gold intersection within the Parbec deposit is at a vertical depth of 738m.
Mark Wellstead P.Geo, OGQ Special Authorization #388 of Minroc Management is a “qualified person” pursuant to the guidelines of National Instrument 43-101 and has reviewed and approved the technical disclosure in this press release.
Le présent communiqué est disponible en français sur la page web de Renforth.
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
1 & 2 “Modified East Amphi Technical Report Under the Form Regulation NI 43-101 Estimation of mineral resources and reserves EAST AMPHI PROJECT Malartic, Quebec” Prepared for Richmont Mines Inc. by Jules Riopel, M.Sc., P.Geo., MBA May 18, 2006
3 “Management Discussion and Analysis” Richmont Mines Inc. August 2,2007
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.
Source: www.fscwire.com
