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Renforth Resources Inc. Confirms Gold, Platinum and Palladium Within Victoria Battery Metals Drill Core

02.04.2024  |  The Newswire
Renforth Resources Inc. (CSE - RFR) (OTCQB- RFHRF) (FSE-9RR) ("Renforth" or the "Company") wishes to inform shareholders that we have successfully completed initial gold, platinum and palladium assay testing on drill core from our Victoria Multi Metals Zone, the positive results obtained in each sample result in a notable increase to the Ni Eq and/or Zn Eq values in each case. Based upon this success Au/Pt/Pd testing will be continued at Victoria in various locations and lithologies on an ongoing basis to form a better understanding of the PGE mineralization.

Table 1 - Gold, Platinum and Palladium Assay Results


Click Image To View Full Size

Note to Table 1 - Sample lengths stated are as measured in the core box, not true widths.

The gold, platinum and palladium values from the assays, presented above, were added to the previously disclosed (Feb. 14,2024) assay results for each sample, however, three samples assayed for gold, platinum and palladium were taken across existing sample boundaries. These samples are included in the chart but they have no original Eq values presented.

Table 2 - Updated Ni Eq and Zn Eq Assay Results Including PGEs


Click Image To View Full Size

Notes to Table 2 -Please note that:

1 - Intervals stated are as measured in the core box, not true widths.

2 - The Metal Eq% formula used = (Metal value+(additional metal ppm value*(additional metal $/gram)/(metal $/gram)))/10000

3 - Metal values used in the Eq formulas are as follows (Spot price dates for each metal with the USD price per gram): October 1st, 2023 - Chrome $0.00386. March 28th, 2024 - Zinc $0.002439. March 29th, 2024 - Nickel $0.1657, Copper $0.008934, Silver $0.8033, Cobalt $0.02855. April 1st, 2024 - Iron $0.0001023, Gold $71.988, Platinum $29.328, Palladium $32.215.

4 - The Ni Eq % and Zn Eq % are calculated without a cutoff. Renforth has only performed limited thin section work and no metallurgical work, the percent recovery of metals during processing is not known and is therefore not assumed.

5 - NiEq and ZnEq values in the table above were calculated with the metals listed below:

NiEq-a % = Ni+Cu+Zn+Ag+Co+Cr+Fe+Au+Pt+Pd

ZnEq-a % = Zn+Cu+Ni+Ag+Co+Cr+Fe+Au+Pt+Pd

NiEq-b % = Ni+Cu+Zn+Ag+Co+Cr+Fe

ZnEq-b % = Zn+Cu+Ni+Ag+Co+Cr+Fe

6 - Samples F667544, F6675445 and F6675446 from SUR-21-19 were taken across previous sample boundaries, therefore there is no directly comparable previous assay available. The samples therefore have no Original Ni Eq or Zn Eq % value available for inclusion in Table 2

The presence of gold, platinum and palladium in the samples results in a positive increase and a notable enhancement on the overall grade of each sample. The percent increase in equivalence value for each sample is presented in the table below:

Table 3 - % Increase in Eq Value

DDH

PGE Sample #

Original Sample #

From (m)

To (m)

Length (m)

% Change in Eq Value

SUR-22-39

F667536

98234

207.9

208.9

1

0.53

SUR-22-39

F667537

98239

214.5

216

1.5

0.38

SUR-22-39

F667538

98283

269

270

1

0.16

SUR-22-37

F667539

90359

26

27

1

0.24

SUR-22-37

F667540

90468

134.1

135

0.9

0.31

SUR-22-37

F667541

90488

157.5

158.3

0.8

0.20

SUR-22-37

F667542

98016

189

190.5

1.5

0.31

SUR-21-19

F667543

48635

174

175.5

1.5

0.21

SUR-21-19

F667544

part of 48636

175.5

175.9

0.4

-

SUR-21-19

F667545

part of 48636

175.9

176.7

0.8

-

SUR-21-19

F667546

48541 & 48542

54

55.5

1.5

-

SUR-21-19

F667547

48554

69

70.5

1.5

0.25

SUR-21-28

F667549

66432

70.6

71.6

1

0.20

SUR-23-57

F667550

F668488

298.2

299

0.8

0.17

SUR-21-04

F667551

45657

192.65

193.2

0.55

0.18

SUR-21-04

F667552

45663

198

199

1

0.09

SUR-21-07

F667553

46071

71.4

72.5

1.1

0.18

SUR-21-23

F667554

64858

51.1

52.3

1.2

0.17

SUR-21-18

F667555

48013

94.7

95.3

0.6

0.18

Notes to Table 3 -

1 - samples lengths are as measured in the core box, not true widths.

2 -Please note that samples F667544, F667545 and F66546 are not included in the % Increase in Table 3 as they were taken across previous sample boundaries and have no comparable original assay value.

"This news is shared because it adds value to our ~20km Victoria structure on our wholly owned Malartic Metals Package property in Quebec. This proves our assumption that Au/Pt/Pd were in the Victoria Multi Metals Zone mineralized system, based on our prior testing for Au/Pt/Pd carried out on surface grab samples. We will continue to test to Au/Pt/Pd at Victoria, across the entire mineralized package and in various lithologies. These metals are very valuable and, as presented above, a small amount can make a positive difference to the overall value of the mineralized material" states Nicole Brewster, President and CEO of Renforth.

Qualified Person

Technical disclosure in this press release has been reviewed and approved by Francis R. Newton PGeo, OGQ a "qualified person" pursuant to NI 43-101.

Technical Information

Samples referenced above were selected from witness core securely stored at our core yard in Val d'Or Quebec, bagged and sealed in the core yard and securely transported to the facilities of ALS Laboratories in Val d'Or, where they were submitted for Low level PGM - FA ICPMS assay for Au, Pt, and Pd using PGM-MS23L.

About Renforth

Renforth is a battery metals area play with the dominant brownfield land position south of the world class Cadillac-Larder Lake Fault ("CLLF") in the prolific Cadillac and Malartic mining camps of Quebec's Abitibi. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth's land position encompasses several areas of interest.

Renforth's position is unique in that the both the battery metals mineralization within the Malartic Metals Package ("MMP") and our gold deposit at Parbec are road accessible, with hydro power crossing the properties, in an established and secure mining jurisdiction which regularly ranks as Top 10 (as determined by the Fraser Institute) in the world.

Renforth is engaged in the active exploration of the proven MMP battery metals mineralization, working towards a maiden resource statement, and the remodeling of our Parbec gold deposit to incorporate the ~15,000m drilled subsequent to the 2019 effective date of the last MRE.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393

E: nicole@renforthresources.com

#Unit 1B - 955 Brock Road, Pickering ON L1W 2X9

Follow Renforth on Facebook, LinkedIn and Instagram!

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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