Renforth Intersects 49.6m of 1.46 g/t Gold at Parbec Open Pit Gold Deposit

Rhea-AI Summary

Renforth Resources announced promising drill results from its Parbec gold deposit program, with notable highlights including 1.46 g/t Au over 49.6m in drill hole PAR-20-116. The company has completed a total of 15,569m of drilling in phases one and two. These results are expected to enhance the resource estimate set for completion in June/July 2021. Each reported hole indicates positive gold values that contribute to the overall gold endowment of the deposit. The assays were conducted by AGAT Laboratories following standard procedures.

Positive

• PAR-20-116 shows 1.46 g/t Au over 49.6m.
• PAR-20-107 demonstrates 4.02 g/t Au over 4m.
• Drilling aims to support an updated resource estimate by June/July 2021.
• All reported drill holes returned gold values of interest.

Negative

• None.

• PAR-20-116 highlight 1.46 g/t Au over 49.6m, from 108.9m to 158.5m down the hole
• PAR-20-106 highlight 1.32 g/t Au over 4.45m, from 211.35m to 215.8m down the hole
• PAR-20-107 highlight 4.02 g/t Au over 4m, from 141m to 145m down the hole
• PAR-20-108 highlight 2.05 g./t over 1.5m, from 156.65m to 158.15m down the hole
• PAR-20-109 highlight 0.69 g.t Au over 12.85m, from 136.15m to 149m down the hole

PICKERING, ON / ACCESSWIRE / April 7, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR) ("Renforth" or the "Company") is pleased to update shareholders on drill results received for Renforth's 2020 drill program on the wholly owned Parbec open pit constrained gold deposit on the Cadillac Break, adjacent to the Canadian Malartic Mine.

This press release gives highlights of assays received for PAR-20-116, PAR-20-106, PAR-20-107, PAR-20-108 and PAR-20-109, all drilled in the Fall 2020 program at Parbec where 9,644m were drilled in phase one of a drill program designed to support a new 2021 resource estimate for Parbec. The drill program finished at 15,569m of drilling completed with the assay results for a total of 37 drill holes in both phase one (Fall 2020) and phase two (Winter 2021) of the program still outstanding.

The drill program was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones with undercut drillholes and to twin holes drilled between 1986 and 1993 in order to allow the assay results from those 62 holes to be used in the 2021 resource estimate for Parbec, anticipated to be completed in June/July 2021, however, the timeline is dependent on the receipt of assays. The five holes reported on in this press release continue Renforth's success in drilling at Parbec with, again, each hole drilled returning gold values of interest. Each of the results given below are accretive to the overall gold endowment of the Parbec deposit and are expected to positively impact a resource estimate calculation.

Assay Highlight Table:

DDH	From (m)	To (m)	Length (m)		Assay Au g/t
PAR-20-106	22.5	24	1.5	1.32
PAR-20-106	196.5	201.7	5.2	0.76
PAR-20-106	211.35	215.8	4.45	1.32
PAR-20-106	221.5	225	3.5	1.41
PAR-20-106	366	376.75	10.75	0.45
including	368.5	369.1	0.6	1.26
PAR-20-107	36	38.5	2.5	0.63
PAR-20-107	42	43	1	3.94
PAR-20-107	57.2	65.1	7.9	0.54
including	57.2	60.5	3.3	0.79
PAR-20-107	108.8	109.7	0.9	0.9
PAR-20-107	141	145	4	4.02
PAR-20-108	76.9	78.5	1.6	0.901
PAR-20-108	156.65	158.15	1.5	2.05
PAR-20-109	2.3	2.8	0.5	1.84
PAR-20-109	31	37.5	6.5	0.91
PAR-20-109	60.8	64.5	3.7	0.52
PAR-20-109	124.05	128	3.95	0.68
including	126.5	128	1.5	0.908
PAR-20-109	136.15	149	12.85	0.69
PAR-20-116	76	78.85	2.85	1.08
PAR-20-116	108.9	158.5	49.6	1.46
including	135.5	138	2.5	8.63

*assay intervals are as measured in the core box, 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 ~$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/639198/Renforth-Intersects-496m-of-146-gt-Gold-at-Parbec-Open-Pit-Gold-Deposit

FAQ

What are the latest drill results for Renforth Resources (RFHRF)?

Renforth Resources reported drill results including highlights of 1.46 g/t Au over 49.6m in PAR-20-116 and 4.02 g/t Au over 4m in PAR-20-107.

When is the new resource estimate for the Parbec deposit expected?

The new resource estimate for the Parbec deposit is anticipated to be completed in June/July 2021.

What is the total length of drilling conducted in the 2020 drill program for Renforth Resources?

Renforth Resources completed a total of 15,569m of drilling in its 2020 drill program.

Where were the assays for Renforth's drill results conducted?

The assays were conducted by AGAT Laboratories in Val d'Or, Quebec.