Renforth Commences Drilling the Victoria Nickel Target on Surimeau District Property

Rhea-AI Summary

Renforth Resources Inc. has initiated a 3,500m drill program targeting the Victoria Nickel area within its 215 km² Surimeau District property in Quebec. The property previously yielded sulphide nickel values from surface and subsurface samples, indicating strong mineralization potential. The drill program will explore approximately 3km of a 5km strike, following positive results from previous sampling efforts. Renforth aims to incorporate the results from this and a recent 15,569m program at its Parbec property into a revamped geological model.

Positive

• Initiated a 3,500m drill program at the Victoria Nickel Target, indicating growth potential.
• Previous surface and subsurface sampling confirmed the presence of sulphide nickel, zinc, copper, and silver.
• Well-funded with ~$6 million in cash and securities, enhancing operational capabilities.

Negative

• None.

PICKERING, ON / ACCESSWIRE / March 25, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) ("Renforth" or the "Company") is pleased to announce the start of a 3,500m drill program on the Victoria Nickel Target which strikes over ~5km on Renforth's wholly owned 215 km² Surimeau District Property, where Renforth has previously obtained sulphide nickel values on surface and sub-surface, confirming the presence of mineralization as indicated by historic exploration information.

Renforth's Surimeau District Property is located south of the towns of Cadillac and Malartic Quebec, with road access to the west and the centre of the property via well maintained gravel roads which service the hydro-electric generating stations south of the property, whose power lines also run through the property. The eastern end of the property is accessible via municipal roads. Road access makes the movement of the drill from Renforth's Parbec property, where the drill program concluded with 5,925m drilled in 22 holes, a straightforward operation. This finishes the drill program started in September 2020 at Parbec with a total of 15,569m drilled, all of which will be incorporated in a rebuilding of the geological model and a resource restatement, upon receipt of all the assays. Presently there is a total of 42 holes with unreported assays for Parbec.

The Surimeau District Property hosts several target areas, both for critical and strategic metals, as well as for gold. The target areas have been identified on the basis of prior work carried out on the property, including verification of the presence of mineralization by Renforth.

The drill program which has just commenced at Surimeau is focused on the Victoria target area, with drilling planned of ~3km of the ~5km of strike in that target area. This is a follow up program to Renforth's confirmation surface and sub-surface sampling programs which demonstrate the presence of mineralization including sulphide nickel, zinc, copper and silver, the testing for platinum group elements is ongoing.

"The zinc-nickel occurrences at Surimeau bear a striking geological similarity to the Outokumpu, Finland deposits, which have a similar, and unusual, association of these two elements in what appears to be a tectonically juxtaposed magmatic nickel and zinc-rich volcanogenic massive sulfide-type settings. This geological setting is an almost unique association in Canada (there is at least one other occurrence), but a substantial and productive resource in Finland." states Dr. James Franklin PhD FRSC, P.Geo, Renforth's Principal Technical Advisor on the Surimeau District Property.

Victoria Prospect Planned Drill Holes Spring 2021

Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101

For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C: (416) 818-1393
E: nicole@renforthresources.com
#269 - 1099 Kingston Road, Pickering ON L1V 1B5

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About Renforth
Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. A 15,569m drill program has been recently completed, this program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth's wholly owned 215 km² Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$6 million in cash and securities on hand (*as at 03/15/21), in addition to the gold contained in our gold deposit.

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: Renforth Resources Inc.

View source version on accesswire.com:
https://www.accesswire.com/637328/Renforth-Commences-Drilling-the-Victoria-Nickel-Target-on-Surimeau-District-Property

FAQ

What is the focus of Renforth Resources' drill program in March 2021?

Renforth Resources has commenced a 3,500m drill program at the Victoria Nickel Target on the Surimeau District Property, targeting mineralization identified through previous sampling.

Is Renforth Resources financially stable?

Yes, Renforth Resources is well-funded, holding approximately $6 million in cash and securities as of mid-March 2021.

What minerals are being targeted in the Victoria drill program by Renforth Resources?

The drill program is aimed at exploring sulphide nickel, zinc, copper, silver, and platinum group elements.

How does the geology of Surimeau District Property compare to other regions?

The geological setting at Surimeau shows similarities to productive deposits in Outokumpu, Finland, particularly concerning zinc and nickel.