Renforth Obtains Additional Gold Values at Parbec Gold Deposit Exploration Commences at Surimeau District Battery Metals Project
Parbec Assay Results Highlights
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*Assays presented above are as measured in the core box and not true width
In drill hole PAR-21-146 the mineralized intervals between 72.3-73.65m down the hole and 88.7-89.7m down the hole are considered unconstrained due to a lack of sampling.
Surimeau District Battery Metals Project Update
Renforth has received the permit required to commence the previously announced stripping program. While assays are still outstanding for the bulk of the 2021 drilling at Surimeau, Renforth will commence the chipping/stripping program in order to expose on surface a portion of the Victoria West mineralized system. It is anticipated that chipping will commence within a week and stripping shortly thereafter. Renforth will use compressed air to clean the newly exposed bedrock once stripping has been completed in order to not stress local water resources after what has been an unusually dry summer. Renforth is happy to say that stripping will be completed prior to the opening of the high-powered rifle hunting season, not unduly inconveniencing local hunters or putting field crew at risk. Our field crew will be able to map and sample the exposed system, as well as prospect ground which has likely not been prospected before with the completion of chipping and stripping.
Victoria West Chipping/Stripping Location with Drill Holes
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The gap in the stripping area, indicated in solid yellow, is caused as there is already large-scale outcrop in this area which does not require stripping.
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:
President and Chief Executive Officer
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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 polymetallic system, over ~5km of strike in the western end of the 20km central anomaly at Renforth's wholly owned 260 km2 Surimeau District Property. 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.
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