Renforth Expands Surimeau District Project with Acquisition of Additional Mineralized Target

Rhea-AI Summary

Renforth Resources has expanded its Surimeau District Project through the addition of 81 claims, increasing its size to approximately 260 km². This acquisition includes the Huston Target, historically noted for copper and gold. The company’s recent drilling at the Victoria West target produced visual mineralization across 15 holes, awaiting assay results. Renforth is well-funded, holding roughly $6 million in cash and securities, and is positioned in a prime mining jurisdiction.

Positive

• Increased project size to approximately 260 km² with the addition of 81 claims.
• Acquisition includes historically documented copper and gold with successful initial drilling results.
• Well-funded with approximately $6 million in cash and securities.

Negative

• None.

PICKERING, ON / ACCESSWIRE / April 28, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) ("Renforth" or the "Company") is pleased to inform shareholders that our Surimeau District Project has increased in size, to approximately 260 km², with the addition of 81 claims, covering approximately 4,520 hectares and hosting the Huston Target, located to the west of our Surimau Target area, in the Pontiac and south of Iamgold's Westwood Mine.

The newly acquired area hosts the Huston Target, documented in the early 1980's as a privately held property which was subsequently acquired and drilled by Hecla Mining, results of drilling by Hecla accessible via SIGEOM document the presence of copper and gold above background levels. In addition to this the vendors of the property carried out a small surface grab sample program targeting their interpretation that the property hosts a deep seated splay of the Cadillac Break, as seen in their inversion of geophysical data. Their field findings included copper and nickel above background levels in grab samples taken from areas of alteration accessible by road and due to logging operations. Renforth acquired these claims from an unrelated party in November of 2020 via the issuance of 4 million shares of Renforth and is now in the process of registering these claims to Renforth's name. The acquisition of the Huston Target area was a strategic one, occurring as Renforth finished consolidating the Surimeau District Project, which encompasses 5 target areas for base metals (historically documented) and 2 target areas for precious metals (historically identified), bringing one of the last historically documented targets into the Surimeau District Project to make 6 target areas for base metals.

"Renforth has assembled a very large and underexplored land package with known historical showings in both base and precious metals, with road access in mature mining camps. This property is located within one of the best mining friendly jurisdictions in the world. Our initial drilling on this property, focused on our Victoria West target area, delivering visual nickel, copper and zinc sulphide mineralization in each of 15 holes drilled over only 2.2kms of strike within a 20km geophysical anomaly, assays are awaited. I am quite looking forward to exploring our brownfield nickel rich VMS discovery further" states Nicole Brewster, President and CEO of Renforth.

Brian H. Newton is a "qualified person" pursuant to NI 43-101, have reviewed and approved the technical disclosure in this press release.

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 a 2020 resource estimate of 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. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which 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.

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https://www.accesswire.com/642732/Renforth-Expands-Surimeau-District-Project-with-Acquisition-of-Additional-Mineralized-Target

FAQ

What is the significance of Renforth Resources' acquisition of the Huston Target?

The acquisition enhances the Surimeau District Project and includes areas historically known for copper and gold, possibly improving exploration potential.

How much has Renforth Resources expanded its Surimeau District Project?

Renforth Resources has expanded the project to approximately 260 km², adding 81 claims.

What are the initial drilling results from the Victoria West target area?

Initial drilling at Victoria West produced visual mineralization across 15 holes, with assays pending.

What is Renforth Resources' current financial position?

Renforth Resources has approximately $6 million in cash and securities as of March 15, 2021.