(TheNewswire)
PICKERING, Ontario – TheNewswire - Aug. 20, 2024 -- Renforth Resources Inc. (CSE: RFR) (OTCQB: RFHRF) (FSE: 9RR) (“Renforth” or the “Company”) today offers shareholders an update on completed summer exploration activities and those set to begin on our wholly owned Malartic Metals Package property and our wholly owned Parbec gold deposit, both located in Malartic, Quebec.
Nicole Brewster, Renforth president and CEO, said: "I am pleased to update fellow shareholders on our completed and ongoing exploration efforts which touch almost all of our wholly owned mineral assets. Our team continues to develop our understanding of our Beaupré copper discovery, testing its size on surface under cover and we have commenced testing mineralized material from our Victoria polymetallic system for suitability for pre-concentration in a processing flow sheet, funded by the Government of Quebec. We are also once again working on our Parbec gold deposit, testing our new understanding of the structure and identifying a location to strip the overburden in order to commence bulk/metallurgical test work. Our team is delivering on multiple fronts with success in the field, laying the groundwork for our winter exploration season."
Malartic Metals Package
Renforth's Malartic Metals Package property, covering approximately 300 square kilometers, is in the Pontiac Sediments near Malartic, Quebec, and hosts several mineralized areas with various metals. This property was largely unexplored before Renforth consolidated the ground to incorporate historic showings, followed by boots-on-the-ground exploration and drilling activities.
This work has identified the Victoria polymetallic system, extending from the surface to a drilled depth of ~200m, running east to west across the central part of the property. Additionally, it led to the discovery of the Beaupré copper/silver zone, containing chalcopyrite, bornite and silver on the surface over approximately 175m in length, in the northeastern part of the property, near the Cadillac Break.
~20km Victoria Polymetallic System
Renforth has shipped selected drill core samples of mineralized and non-mineralized lithologies from the ~2.5km long drilled zone west of the road at Victoria to TOMRA in Germany to test whether the material at Victoria is amenable to sorting. This work is being carried out as part of the $262,500 grant Renforth received from the Province of Quebec to develop a processing flow sheet for the Victoria polymetallic (Ni/Co/Pt/Pd+Zn/Cu/Ag/Au) mineralized material. If the material is amenable to sorting before processing, it will positively impact the project by allowing waste to be discarded beforehand, thereby reducing both the processing volume and the waste generated at the end of the cycle. By concentrating the material, its grade can be increased, providing more options in the processing and flow sheet design process. Results will be shared once received.
Beaupré Copper/Silver Discovery Area
Renforth has completed an initial soil sampling program within a grid measuring 450m by 180m, using a 20m sample spacing. This grid is centered on but excludes the previously stripped and sampled Beaupré discovery area. Surprisingly, this survey yielded both gold and nickel results. Low-grade gold values in the soil form two linear features striking approximately 450m, seemingly parallel to the Beaupré "Main Vein", both north and south of the vein.
When choosing Aqua Regia as the assay method, we understood, as the lab advised, that the gold results may not be representative due to the small sample size of 0.5g. However, we did not expect to find gold values. Although the highest assay result, located north of the main vein, was 8.6 ppb Au, we will retest all samples that returned 1ppb or higher with fire assay with a 25g sample size.
Furthermore, all samples in this survey were collected from the A horizon. Due to extensive logging operations in the area, there was no B or C horizon present at most sample locations. This is significant because deeper soil horizons, which are in contact with or closer to bedrock, are typically targeted in soil surveys and are known to yield higher assay values. By re-assaying samples over 1ppb Au, we aim to obtain a more representative gold assay value with the larger sample size. We understand that, since our samples are as far from bedrock as possible, the results are likely to remain low, yet still noteworthy.
In this environment, the background level of gold is virtually zero. The fact that we obtained gold values, which are relatively immobile and arranged in a pattern that mirrors the structure of the Beaupré main vein – rather than being randomly scattered - near the Cadillac Break makes this finding very intriguing and worthy of further investigation. Nickel is found in a similar pattern, forming a 450m-long trend parallel to the main vein on the north side, as well as extending to the east of the vein. Fire assaying of the gold samples, as well as additional soil sampling to expand the sampling grid at Beaupré, will help to identify any patterns present or larger scale trends.
Due to the results of this survey, Renforth has begun fieldwork to expand the soil survey grid both to the north and the south, as well as along strike.The lab has been instructed to select and run fire assay samples from the reject portion of the existing soil samples. Results for both these initiatives will be shared when available.
Beaupré Vein System Results and Location
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New Soil Sampling/Prospecting Programs at MMP
Renforth has commenced a broad soil sampling initiative in the central area of the Malartic Metals Package, targeting three areas on a best-efforts basis before snow flies. These areas include Lac Surimau, which is underlain by a large granodiorite stock. In 1987, drilling by Metaux Abitibi in this area revealed long intervals of low-grade gold values at relatively shallow depths within the sediments, with results highlighted in yellow in the table below. Additionally, further south at the eastern end of the property is an iron formation that yielded gold values in 1986 drilling, with selected results below. It is important to note that these are historical results and are indicative only. The historic results indicating the presence of gold justify further investigation and the implementation of modern sampling and assaying practices.
The third area of focus is located between Victoria and Lalonde, east of the road. This target, derived from geophysical data, has previously been inaccessible. Soil or rock sampled will be collected at each location whenever possible.
Historic 1986 and 1987 Metaux Abitibi Drill Results (Indicative Only)
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*Historic results pre-date NI 43-101 and are indicative only
Parbec Gold Deposit
Renforth has completed an initial soil sampling program at Parbec to test previously unexplored areas to potentially identify near-surface gold within the Pontiac, which could serve as targets for future stripping efforts. The survey consisted of a grid south of the rail line, using a 75m sample spacing. Assay results are still pending and will be reported once received. Positive results will require infill sampling. Currently, Renforth has identified two areas where there is a correlation between gold found in drillholes and gold on the surface, which are potential stripping targets located east and west of the ramp collar. However, additional exploration data at Parbec may yield unexpected results that may refine our new model for the property.
Technical Advisor Appointment
With Dr. Franklin’s death, Renforth has appointed a new technical advisor. Norman E. Brewster, P. Geo will advise Renforth on exploration at the Parbec property, which Mr. Brewster last explored in the 1980s, sinking the decline and carrying out the most comprehensive drilling prior to Renforth's own drill programs. Mr. Brewster's exploration career, which has spanned numerous continents, included the development and commissioning of the Aguas Tenidas Mine in the Iberian Pyrite Belt, experience relative to Renforth's work on the Victoria polymetallic structure on the Malartic Metals package, and our Beaupré copper discovery.
Ms. Brewster said: "I am in the unique position of being able to work with one of the most experienced geologists I know, my father. As a Renforth shareholder, I am thrilled that we will be able to benefit from his wealth of geological knowledge. I appreciate that some might find this unusual, but consultation with a geologist and successful mining executive of his caliber is too good an opportunity to pass up. It also speaks to the merit of our properties; Norm can see a path forward for our assets which he can contribute to. Our technical team, Brian, Francis, Nikk, Martin, John and Aline, are all happy to work with Norm as we continually develop our assets."
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Beaupré soil samples were selected in the field, bagged and tagged. They were delivered to the facilities of ALS Laboratories in Val d'Or where they underwent Aqua Regia Super Trace Analysis (ME-MS41L).
All technical information in this press release has been reviewed and approved by Francis Newton P. Geo OGQ, a "qualified person," pursuant to the criteria of NI 43-101.
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No securities regulatory authority has approved or disapproved 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.
Company Contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
416-818-1393
nicole@renforthresources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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