Renforth drills 14.1 metres of 2.15 g/t gold at Parbec Project, Quebec
Renforth Resources Inc. [RFR-CSE; RFHRF-OTC] updated shareholders on the results of PAR-21-130, the first hole from its 2021 drill program to be reported on from the Parbec Project, which was a successful twin of PAR-93-55, supporting the 1993 data.
PAR-21-130 was a shallow 123-metre drill hole, entirely within the NI 43-101 May, 2020, resource estimate open pit. In PAR-21-130 the interval of 14.1 metres of 2.15 g/t gold, which supports the historic 1993 result of 9.3 g/t gold over 4.3 metres and extends the mineralization further, occurs at a vertical depth of approximately 75 metres.
Hole PAR-21-130 successfully twinned PAR-93-55, the assay results of which were not used in the May, 2020, resource estimate for Parbec. PAR-21-130 intersected mineralization in addition to that recorded in PAR-93-55 due to the limited sampling undertaken in PAR-93-55. PAR-21-130 was an overcut of PAR-20-109, which intersected 12.85 m of 0.69 g/t gold, demonstrating vertical continuity of mineralization.
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 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 This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569-metre drill program which has been recently completed.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 ultramafic, coincident with a copper/zinc volcanogenic massive sulphide, over about five km of strike in the western end of the 20 km central anomaly at Renforth’s 100%-owned 215 km2 Surimeau property. This prospect was discovered on the surface and the subject of a very short, shallow drill program. A more robust drill program is planned for spring 2021. 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 the surface over a strike length of about 500 metres. Renforth is well financed with about $6-million in cash and securities on hand (as of March 15, 2021).