Renforth Resources Inc. (CSE: RFR) (OTC: RFHRF) (FSE: 9RR)(“Renforth” or the “Company”), would like to update shareholders on the 2025 Mineral Resource Estimate (MRE) for the Parbec Gold deposit, which reflects a 29% increase to the overall gold ounces within the deposit, with 12% of the new resource ounces in the Measured category and within an open pit.
April 2025 Parbec Gold Deposit MRE
(1) Mineral Resources are reported at a cut-off grade of 0.27 g/t Au for the open-pit mining scenario and 1.40 g/t Au for the underground mining scenario
(2) The cut-off grades were determined at a gold price of 2,100 US$ per ounce.
(3) The mineral resources were estimated in compliance with Canadian Institute of Mining, Metallurgy and Petroleum standards. These mineral resources were reported in accordance with the NI 43-101 standards.
(4) Mineral resources do not constitute mineral reserves because they have not demonstrated economic viability.
(5) Inferred resources are exclusive of measured and indicated resources.
(6) The effective date of these mineral resources is April 4, 2025.
(7) Assumptions used are a mining recovery of 95%, a mining dilution of 5%, processing recovery of 95%, processing cost of 12.75 US$/t, general and administration of 1.50 US$/t, open-pit mining cost of 2.5 US$/t for ore, 2 US$/t for waste and underground mining cost of 66 US$/t.
(8) All resources are presented in-situ and undiluted.
(9) All $ values are in US$ unless specifically noted.
(10) All figures are rounded to reflect the relative accuracy of the estimate. Numbers may not add due to rounding.
"We are very happy to deliver this significant size increase to our open pit gold deposit next door to Agnico Eagle's Canadian Malartic mine. In addition to the increase, it is important to acknowledge the category of those ounces, 12% of the new MRE is in the Measured category and 61% is in the Indicated category, 73% of the deposit is contained within the resource categories that deliver the most confidence, demonstrating not only Parbec's growth, but also growing maturity, as a reliable gold deposit with a fantastic location and logistical advantage. In addition, with this MRE 87% of the gold ounces within the resource estimate are contained within the accompanying open pit. With this growth Parbec also presents us with new drill targets within the deposit to target gaps within the drill spacing and increase the confidence in the remaining inferred ounces, with more drilling. That potential is in addition to the 24,200 ounces of gold within the modelled mineralized envelopes in the open pit which are below the cut-off grade used, contained in 4,300,000 tonnes of material" states Nicole Brewster, President and CEO of Renforth.
Resources were estimated using the following parameters:
Drillholes of 1986 and more recent were used to model and estimate this MRE. They account for 173 drillholes (46,144 m), and 28,404 samples assayed (31,483 m). Core is NQ-sized. The resource estimate was performed using inverse-distance squared (ID2). Block size is 4 x 2 x 5 m. The model was built in 3 dimensions directly using the planar envelopes technology with the SGS Genesis software. Volumes were validated and adjusted using 42 cross-sections with a variable spacing of 7 to 45 meters depending on data density (average spacing of 28 meters). A total of 45 solids were modeled. Minimum intercept length in a drill hole is 2.5 meters, which approximately corresponds to 2 meters of horizontal thickness. Composites of around 2 meters were created without leaving remainders. Variable capping was applied on composites between 4 and 12 g/t Au creating a metal loss of around 5%. Rock density of 2.81 t/m3 was used based on available measurements, unchanged from the 2020 MRE. All underground MRE were put in the inferred category to reflect the current drill spacing and confidence level in continuity to support underground operations.
Further details regarding the 2025 mineral resource estimate, key assumptions, parameters and methods used to estimate the mineral resources of the Parbec Deposit will be available on SEDAR Plus (www.sedarplus.ca) under the Corporation’s issuer profile within 45 days in accordance with NI 43-101.
Yann Camus P.Eng. of SGS Canada Inc., is the independent qualified person responsible for the technical information about the resource estimate presented in this news release, as defined by NI 43−101 Standards of Disclosure for Mineral Projects, including the verification of released data.
About the Parbec Gold Deposit
Renforth's wholly owned Parbec gold deposit sits on approximately 1.8km of strike of the Cadillac Break, arguably one of Canada's deepest and most productive gold structures. Renforth's geological modelling has demonstrated that Parbec contains gold mineralization within the Break, but also crossing cutting the Break into the unexplored Pontiac sediments on the south side of the Break. The occurrence of gold in the Pontiac sediments in the area has only recently been recognized, this include the extension of the Sladen Fault, which the neighbouring Canadian Malartic pit was built around, extending into the sediments, and the Barnat and East Malartic discoveries within the Canadian Malartic pit on the eastern side. In addition the Discovery Vein discovery made by Renforth on the formerly held New Alger project was located within the sediments, just south of the Break.
Mineralization at Parbec, which starts on surface and is almost entirely enclosed within a Whittle Pit, is open on strike in both directions and at depth, the pit does not extend below a depth of 300m, on a very deep structure.
Renforth considers Parbec to be a small scale replica of the Canadian Malartic Mine Property next door, the modelling of the 2025 MRE has presented numerous targets to resolve gaps within the modelled mineralization, and to extend the modelled mineralization with successful new drilling.
Renforth will present a new exploration program for Parbec in due course. Recently received TOMRA Phase 1 test results indicate that mineralized material from Parbec can be sorted on the basis of the sulphides, which gold at Parbec is largely associated with, however, initial assay testing has also determined that there are base metal sulphides present in the core and untested, TOMRA can detect these. Renforth is evaluating the merit of retesting existing core for critical minerals.
Francis Newton P.Geo OGQ and independent qualified person pursuant to the guidelines in NI 43-101 has reviewed and approved the geological information contained in this press release.
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No securities regulatory authority has approved or disapproved 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.
Company Contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
416-818-1393
Nicole@RenforthResources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
Source
Table 1: Crown Prince MRE Summary November 2024
Table 2: Drilling Summary for Crown Prince
Figure 1: Crown Prince MRE mineralisation wireframes, isometric view looking north.
Figure 2: Isometric view looking north of Crown Prince block model
