Renforth Reports Additional Parbec Assays and Drill Program Update
December 9, 2020. Renforth Resources Inc. (CSE - RFR) (“Renforth” or the “Company”) is pleased to update shareholders on the receipt of assays and the ongoing drill program at our flagship asset, the wholly owned Parbec Open Pit Constrained Gold Deposit located in Malartic Quebec, on the Cadillac Break and adjacent to the Canadian Malartic Open Pit Gold Mine.
Renforth has received additional assays, including the interval of 1.48 g/t Au over 6.55m, which completes the reporting on PAR-20-101, the second drill hole in the program, and cover the first 39.5m of PAR-20-102. The table below includes the previously released beginning of PAR-20-101 and the new results, notated appropriately.
PAR-20-101 Highlights
*denotes previously (11/12/20) press released result
PAR-20-102 Highlights (received to date)
Interpretation of Results
PAR-20-101 was drilled north, as seen in the map below, to test for cross-cutting structures, oblique to the Cadillac Break. The bulk of the drilling at Parbec, oriented perpendicular to the Cadillac Break, could fail to intersect oblique structures, which would run alongside the drilling. PAR-20-100 was also drilled in this manner, as seen in the map below. Both of the north drilled holes gave us mineralization which will be interpreted in conjunction with the 3d modelling component of the Q2 2021 Resource Estimate update for Parbec.
The interval in PAR-20-102 is interesting as it comes from pyrite within the sediments on the south side of the Cadillac Break, near surface and outside of the open pit, at a shallow depth.
Current Parbec Drill Program
At end of December 8th dayshift Renforth has drilled 8800m in 24 complete holes, the 25th hole is still drilling, with assays received for 736.2m to date. Samples have been submitted up to and including PAR-20-114, with the balance awaiting splitting. Due to the delay in receiving assay results Renforth has elected to switch assay laboratories, commencing deliveries to the new lab late last week and moving samples which had not entered the processing stream to the new lab also. It is anticipated this will cause a more continuous and timely delivery of assay results, with the first results expected from the new lab at the end of the month. In the interim the original lab still has material to process. This move will result in results coming in out of order for a brief amount of time. In order to help shareholders track which hole is which, the drill program plan-view map will be updated on the website, and can be used with the drillhole spreadsheet, which will also be updated, to track which hole is which as they are reported upon.
Parbec 2020 Fall Drill Program
Parbec Fall 2020 Drill Hole Spreadsheet
The ongoing drill program at Parbec will break for the holidays the end of next week, with drilling resuming on the fully funded 15,000m program in the New Year. With the expenditure to date on this program (~50% of the anticipated $1,200,000 budget paid for) Renforth’s current treasury, comprised of cash and securities, sits at a value of ~$7,700,000. Renforth is well funded to continue exploration in the New Year, planned to include Parbec, with drilling and a resource update, as well as Surimeau and Nixon-Bartleman, Renforth will be raising no additional funds at year end.
Sample results reported on in this press release were logged and split in the field, bagged, tagged and sealed, then delivered personally by project geologists to ALS Canada Ltd. in Val d’Or, Quebec. The samples were assayed using fire assay for gold with a gravimetric finish.
Francis R. Newton P.Geo (OGQ# 2129) a “qualified person” pursuant to the requirements of NI 43-101, has 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
#200 - 65 Front St. E, Toronto, ON M5E 1B5
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.
