Renforth Resumes Drill Program on Wholly Owned Parbec Open Pit Constrained Gold Deposit Contiguous to Canadian Malartic Mine in Malartic Quebec
Renforth Resources Inc. (CSE:RFR)(OTC PINK:RFHRF) has resumed drilling on its Parbec Gold Deposit in Quebec, part of a 15,000m drill program aimed at updating its geological model and NI 43-101 resource estimate. This phase includes 5,070m of drilling, targeting areas near the Canadian Malartic Mine. The results from 22 previously drilled holes are still pending. Renforth holds 104,000 indicated ounces and 177,000 inferred ounces of gold at Parbec with a cash position of approximately $6.7 million as of February 8, 2021.
- Resumed drilling at Parbec Gold Deposit with 15,000m drill program.
- Targeting areas near Canadian Malartic Mine, enhancing exploration potential.
- Strong cash position of ~$6.7 million as of February 8, 2021.
- Existing resource: 104,000 indicated ounces and 177,000 inferred ounces of gold.
- Awaiting results from 22 holes drilled in late 2020.
- Possibility of financial reliance on ongoing drilling results.
PICKERING, ON / ACCESSWIRE / February 10, 2021 / Renforth Resources Inc. (CSE:RFR)(OTC PINK:RFHRF) (WKN - A2H9TN) ("Renforth" or the "Company") is pleased to inform shareholders that drilling has resumed on our wholly owned Parbec Gold Deposit in Malartic Quebec, contiguous to the Canadian Malartic Mine, Canada's largest open pit gold mine, straddling ~1.8kms of the Cadillac-Larder Lake Deformation Zone ("Cadillac Break").
This Winter 2021 phase of the 15,000m drill program at Parbec is planned to consist of 5070m of drilling, with 7 drill holes twinning holes drilled in the 1980s and 1990s, and 12 holes infill drilling and undercutting previous holes, with a focus on the Camp Zone and the northwestern part of Parbec.
At the same time as drilling has resumed at Parbec we still await the results of the 22 holes drilled in the latter part of 2020 for which we have not received results. The splitting of the final 7 holes not split prior to Christmas has been completed, with the samples submitted to the lab. These 7 holes are included within the 22 holes.
Upon completion of this program, anticipated in late March, Renforth will rebuild the geological model for Parbec with the data generated by the drill program and then move to update the NI 43-101 resource estimate for Parbec.
During the Parbec program Renforth's field crew will split the core from Surimeau which was not split and submit it for assay.
Technical disclosure in this press release has been reviewed and approved by Brian H. Newton P.Geo a "qualified person" pursuant to the guidelines of 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
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 15,000m drill program is ongoing, this program is planned to twin, infill and undercut existing drill holes at Parbec, the aim of this program is to rebuild the geological model and increase the resource estimate upon 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 ~
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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FAQ
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