Renforth Resources Inc. [RFR-CSE; RFHRF-OTC] updated shareholders on drill results received for its 2020 drill program on the 100%- owned Parbec open-pit-constrained gold deposit on the Cadillac break, adjacent to the Canadian Malartic mine, Malartic Township, Quebec.
This press release presents highlights of assays received for PAR-20-116, PAR-20-117, PAR-20-119, PAR-20-120 and PAR-20-124, all drilled in the Fall 2020 program at Parbec where 9,644 metres were drilled in Phase one of a drill program designed to support a new 2021 resource estimate for Parbec. The drill program finished at 15,569 metres of drilling completed with the assay results for a total of 37 drill holes in both Phase one (Fall 2020) and Phase two (Winter 2021) of the program still outstanding.
The drill program was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones with undercut drillholes and to twin holes drilled between 1986 and 1993 in order to allow the assay results from those 62 holes to be used in the 2021 resource estimate for Parbec, anticipated to be complete in June/July 2021, however, the timeline is dependent on the receipt of assays. Each of the results given below are accretive to the overall gold endowment of the Parbec deposit and are expected to positively impact a resource estimate calculation.
Drill hole PAR-20-116 returned 1.25 metres of 1.71 g/t gold. Hole PAR-20-117 returned 0.65 metres of 1.23 g/t gold. Hole PAR-20-119 returned 2.8 metre sof 1.27 g/t gold. Hole PAR-20-120 returned 2.85 metres of 1.02 g/t gold and 1.75 metres of 3.89 g/t gold. Hole PAR-20-124 returned 4.55 metres of 1.13 g/t gold and 3.45 metres of 1.54 g/t gold.
The Parbec open pit constrained gold deposit has a 2020 resource estimate of 104,000 indicated ounces of gold grading 1.78 g/t gold and 177,000 inferred ounces of gold grading 1.78 g/t gold. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569-metre recently completed drill program. 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.