Renforth Resources grab samples up to 2.76% copper at Surimeau, Quebec

Renforth Resources Inc. [TSXV-RFR; OTCQB-RFHRF] provided an update to shareholders on positive assay results obtained in the five grab samples obtained from stripping of the Beaupre copper discovery in the northeastern part of the Surimeau property near Malartic, Quebec, the closing of the previously announced financing and the departure of Kurt Breede from the board of directors.

The Beaupre copper mineralization was discovered at Surimeau in 2018 by SOQUEM conducting exploration under an option agreement. Upon the termination of that option, during data review, Renforth became aware of the copper discovery, and has conducted prospecting work on several occasions in the area to confirm the discovery, tracing copper and silver mineralization on surface over approximately 165 metres in strike length.

In November, 2023, Renforth stripped overburden to expose bedrock along strike for approximately 110 metres and perpendicular to strike for a length of approximately 150 metres in order to better evaluate and map the mineralization in the main zone and search for additional mineralization to either side of the main zone. Unfortunately, temperatures dropped significantly early in the winter, making removal of overburden difficult due to freezing of exposed dirt and rock, eventually covering the stripped bedrock in a layer of snow. As a result, only five grab samples were taken. The work at Beaupre will continue later this year with channel sampling and mapping, in warmer conditions.

The five grab samples taken in the program were taken from the main vein and the vein walls to either side; results again confirm the presence of previously unknown copper and silver mineralization on surface. Grab samples are selective in nature and not reflective of the entirety of the exposed mineralized system. Two grab samples returned 0.641% copper as well as 2.76% copper and 5.39 g/t silver

“Assay results in this press release confirm the visual mineralization on surface seen in the field at Beaupre, unfortunately, this was only possible in a couple of locations due to weather challenges; however, we will return to this area of our Surimeau property in the future. While the priority at Surimeau is definitely the 20-km-long mineralized Victoria structure, a copper discovery striking towards, and on surface within 500 metres of, the Cadillac break cannot be ignored. We do not yet know if this is significant; however, this work, once completed, may help answer that question. Drill results from our November 2023, drilling at Victoria, are still awaited,” stated Nicole Brewster, president and CEO.

Previous work at Beaupre demonstrates a northeast-striking deformation zone surface sampled along a ridge line over approximately 165 metres within the Pontiac sediments which underlie most of Surimeau. Future mapping and sampling of the stripped areas will further inform the characterization of Beaupre.

Renforth completed a non-brokered private placement for gross proceeds of $396,600 from the sale of 300,000 non-flow-through units of the company at a price of 2.6 cents per unit and 12,959,999 flow-through units of the company at a price of three cents per FT unit.

Each unit consisted of one common share of the company and one common share purchase warrant. Each warrant is good to buy one common share at five cents for 24 months following the distribution date. Each FT unit consisted of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one FT warrant. Each FT warrant entitles the holder to buy one common share at five cents for 18 months following the distribution date.

In connection to the financing, the company paid a cash commission of $17,500.

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.

Renforth’s position is unique in that the both the battery metals mineralization at Surimeau and its gold deposit at Parbec are road accessible, with hydro power crossing the properties, in an established and secure mining jurisdiction.

Renforth is engaged in the active exploration of the proven Surimeau battery metals mineralization, working toward a maiden resource statement, and the remodelling of its Parbec gold deposit to incorporate the approximately 15,000 metres drilled subsequent to the 2019 effective date of the last mineral resource estimate.