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Renforth Resources (CSE:RFR) is commencing a detailed surface mapping and prospecting program at Parbec targeting interpreted stacked diorite sills south of the Cadillac Break in the SW corner of the property, indicated on the map below. Geophysics indicate that this diorite body is magnetic and significant in size. Drilling to date has demonstrated that diorites …
Renforth Resources (CSE:RFR) is commencing a detailed surface mapping and prospecting program at Parbec targeting interpreted stacked diorite sills south of the Cadillac Break in the SW corner of the property, indicated on the map below. Geophysics indicate that this diorite body is magnetic and significant in size. Drilling to date has demonstrated that diorites on this property host mineralization, specifically gold is found in silicified, fractured sulfidic sections of diorite bodies. Feldspathic and Albite alteration is noticeable in the highest grade sections.
Our current geological interpretation indicates that southern most mineralized zones in the current Parbec model trend along strike into these sills along their northern contact, making them a prime target for this program. Accessible outcrop will be exposed, mapped and sampled in this program, in order to build a geological understanding of this unexplored area of the property, and, if warranted formulate large scale stripping or drill targets.
Renforth is raising $300,000 on a non-brokered basis through a unit offering priced at $0.05 per unit, each unit consisting of one common share and one warrant, the warrant exercisable at a price of $0.10 for 24 months from closing. It is expected that this offering will close within the week, the use of proceeds will be continuation of the drill program at Parbec, building upon the 19 gold bearing holes drilled to date outside of the March 2016 43-101 resource envelope.
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Technical Information in this press release has been reviewed and approved by Francis Newton P.Geo, OGQ #2129, a “qualified person”.
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