Renforth Intersects 4.59 g/t Gold over 18.75m, Including 8.73 g/t Gold over 7.15m

Rhea-AI Summary

Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF) has reported significant gold mineralization from its recent drilling program, particularly in drill hole PAR-21-127, which intersected 18.75m of gold at 4.59 g/t at around 200m depth. This finding is notable because it expands the mineralized zone previously identified, as no other drill holes had successfully intersected this area. While assay results for the first 148m of PAR-21-127 are still pending, the company interprets that there may be continued structural mineralization in this region.

Positive

• PAR-21-127 intersected a significant mineralized zone of 18.75m at 4.59 g/t gold.
• The results indicate the potential for continued structural mineralization, expanding the resource model.

Negative

• Assay results for the first 148m of PAR-21-127 are still pending, creating uncertainty.
• The previous drilling in the area was less successful, indicating variability in gold grades.

• PAR-21-127 intersected the 18.75m zone of 4.59g/t gold outside of the open pit designed for the May 2020 Resource Estimate.
• PAR-21-127 was designed as an infill hole in the Camp Zone of the Resource Model, this mineralized zone, seen in PAR-21-127 and PAR-20-106 was not anticipated
• Assay results have not yet been received for the first 148m of this hole

PICKERING, ON / ACCESSWIRE / May 18, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) ("Renforth" or the "Company") is pleased to update shareholders on the results of PAR-21-117, the first hole drilled in 2021, intersecting new gold mineralization, in particular 18.75m of 4.59 g/t gold, at a vertical depth of approximately 200m. This occurs at a place within the resource model where, prior to the recently completed 15,569m program, there was only one drill hole which was collared further to the north, failing to intersect most of the Cadillac Break, in addition, the values obtained in PAR-86-01 were not used in the Parbec May 2020 Open Pit Constrained Resource Estimate.

As can be seen in the section below there were 3 holes drilled in the recent program in this area, results are still outstanding for the first 148m of PAR-21-127 and for all of PAR-21-142.

The mineralized zone in PAR-21-127 was intersected in the lower drill hole PAR-20-106 but it was of a lower grade. Renforth interprets this to mean that the structural zone continues, though the grade varies. The mineralization seen at a shallower depth in PAR-20-106 may also occur in PAR-21-127, however, the first 148m of PAR-21-127 have not been received.

PAR-21-127 Assay Highlights

Drillhole	Grid East	Grid North	From (m)	To (m)	Length (m)	g/t Gold
PAR-21-127	5100	135	93.5	148	Assays	Pending
PAR-21-127	5100	135	158.9	160.2	1.3	1.81
PAR-21-127	5100	135	213	214.5	1.5	0.73
PAR-21-127	5100	135	260.5	279.25	18.75	4.59
including	5100	135	265.55	272.7	7.15	8.73
which includes	5100	135	269.5	272.7	3.2	8.11
and also includes	5100	135	265.55	266.8	1.25	15.76
PAR-21-127	5100	135	278.9	279.25	0.35	2.79
PAR-21-127	5100	135	284.15	287.75	3.6	0.96

*assay results presented above are as measured in the core box and not true width

Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d'Or Quebec where they were assayed for gold using "202-051 - Au by Fire Assay, AAS Finish" and "202-064 - Au by Fire Assay, Gravimetric Finish" for overlimit (>10 g/t Au) values.

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 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 ~$5 million in cash and securities on hand (*as at 05/14/21), 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/647881/Renforth-Intersects-459-gt-Gold-over-1875m-Including-873-gt-Gold-over-715m

FAQ

What are the assay results for drill hole PAR-21-127?

Assay results for drill hole PAR-21-127 are still pending, but previous intersections indicate a mineralized zone of 18.75m at 4.59 g/t gold.

When was the drilling of PAR-21-127 completed?

Drilling of PAR-21-127 was part of Renforth's 2021 program, with results announced on May 18, 2021.

What does the mineralization in PAR-21-127 signify for Renforth Resources?

The mineralization indicates the possible extension of gold resources, enhancing the company's existing resource model.

What depth was the gold mineralization found in PAR-21-127?

The mineralization in PAR-21-127 was found at a vertical depth of approximately 200m.

How does the new drill hole data impact Renforth Resources' stock (RFHRF)?

The new drill hole data may positively impact Renforth's stock, depending on the final assay results and market reactions.