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Renforth Resources
Overview:
With the global community heavily focused on clean energy initiatives and achieving net zero emissions, it’s safe to say demand for the battery minerals and rare earth metals required to enable this trend will increase. The International Energy Agency (IEA) reported that demand for critical minerals could potentially increase 600 percent by 2040 for the energy sector alone and up to 1,100 percent in electric vehicle and energy grid storage solution production.
Minerals essential for clean energy and electric vehicles, including but not limited to lithium and cobalt, are highly concentrated in a short list of countries. The top three producing nations for these minerals account for more than 75 percent of the supply, paving the way for potential supply chain issues, price swings and shortages.
Canada’s Quebec province produces one fifth of Canada’s mining output and is one of the nation’s most diverse regions when it comes to minerals. Quebec produces lithium, cobalt and some of the rare earth metals needed for clean energy and electric vehicles. Additionally, Quebec has one of the lowest tax rates for mining companies in North America and has several competitive tax incentives. This region has attracted notable mining companies, including Endeavor Mining (TSX: EDV), Yamana Gold’s (TSX: YRI, NYSE: AUY) subsidiary Canadian Malartic GP, and Aya Gold & Silver (TSX: AYA).
Renforth Resources (CSE:RFR, OTCQB:RFHRF, FSE:9RR) has a portfolio of mineral assets with the Surimeau District Property - a new battery metals discovery, and its Parbec Gold Deposit, both located near Malartic, Quebec and in the heart of the Abitibi Greenstone Belt.
With a strong management team and projects with promising results to date, Renforth Resources is in a position to capitalize on the rising demand for the battery minerals required to build electric vehicles and other technologies in support of the clean energy transition.
“The ongoing stream of exploration results from the Surimeau and Parbec properties is contributing a powerful one-two punch combination for Renforth,” according to a report from Smallcaps Investment Research, adding, “Surimeau has already evolved from the concept stage to where it is now positioned as a confirmed battery metals discovery. The structural targets further along strike may yet reveal a very large deposit area. Victoria West presents a high magnitude discovery that will attract a lot of interest as work continues.”
Renforth Resources is strategically positioned to benefit from both rising prices in gold and battery metals. The company is striving to become one of Canada’s largest EV battery metal producers through its Surimeau District property.
Company Highlights
- Fully funded and asset-rich
- Renforth Resources offers a powerful “one-two” punch combination when it comes to gold and battery metals.
- Surimeau is strategically located near Canada’s only copper nickel smelter, and initial results confirm the property contains nickel, copper, zinc, cobalt, PGEs, gold, silver and lithium.
- Renforth Resources’ Surimeau District project has already evolved past the initial concept phase and now contains a confirmed battery metal discovery.
- The company’s Surimeau and Parbec projects are well located, with road access in close proximity to a major geological structure hosting numerous operating mines, developed infrastructure, work to date has established mineralization and indicates significant growth potential.
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District Scale Battery Metals Discovery in Quebec Backed by the Parbec Gold Deposit