PICKERING, ON / ACCESSWIRE / July 9, 2019 / Renforth Resources Inc. (CSE - RFR) (OTC Pink - RFHRF) ("Renforth" or the "Company") is pleased to announce that that our exploration team is in the field again, at both our wholly owned New Alger and Parbec properties, focussed on our surface gold occurrences, for the month of July. Our team has several targets of their efforts as follows;
- Prospecting and stripping in the areas of the two access trails to the Discovery Veins stripped area
- Prospect and strip in an area south of the Discovery Veins, looking for the surface expression of a gold bearing vein with visible gold which assayed 6.39 g/t Au over 0.9m in a 2007 Renforth drillhole, NA-07-04
- Preliminary prospecting and potential soil sampling in the southern claims at New Alger where government data offers some of the highest soil samples obtained in the area
- Completion of washing the May/June 2019 stripping
- Detailed mapping and additional sampling as warranted of newly discovered surface mineralization and structure
- Minor strike extension stripping of newly discovered gold-bearing quartz veining in the Pontiac Sediments
"Prospecting and exploration are always exciting, being able to again create knowledge and learn more about New Alger even more so. Previously our ability to work at New Alger, contiguous to Agnico-Eagle's LaRonde Mine, was limited by our focus on earning 100% at Parbec, this having been achieved we can now fully explore our portfolio as planned and funded this summer. As stated we will advance New Alger, Parbec and our Nixon-Bartleman property in Ontario this summer, our other two wholly owned gold bearing properties are joint ventured out to SOQUEM and Chalice Gold, the latter having sold their Quebec division to O3 (a new company formed via an RTO by Osisko Mining), O3 will be our new partner, a development we look forward to, upon the transaction closing," states Nicole Brewster, President and CEO of Renforth.
About the work on New Alger
In the Fall of 2017 Renforth undertook a stripping program which exposed 230m, of a known ~500m, of gold in quartz veining located in the Pontiac sediments approximately 250m south of the Cadillac Break and the former Thompson-Cadillac mine and its' resource estimate at New Alger. This newly exposed mineralized system was detail mapped, sampled and studied in thin-section, all of which concluded that there are in fact two separate veins, bisected by a potentially offsetting fault, this fault is interpreted as continuing to, and forming the western margin of, the historic underground mine workings for Thompson-Cadillac.
The available historic record indicates that, in the 1930's, there were drillholes drilled from the main shaft at a depth of 300m to both the north and the south, with interesting findings in both. Underground development took place after the drilling, there is no record of what was found underground, but, it is interesting to note, the underground development to the south finishes under a series of historic blast pits uncovered during Renforth's stripping program where Renforth channeled 2.65g/t Au over 3.7m and 1.95g/t over 5.6m (PR Nov. 6 2017), hosted in blue/black quartz, along with evidence of additional blasting and trenches, all of this forming the discovery location for the property in 1924, also named the Discovery Veins by Renforth.
At New Alger there are 2 access trails to the Discovery Vein area, in both quartz veining has been observed, the eastern-most trail is interpreted to be almost directly over the historic drilling, which records gold results. The historic gold results in the northern (beginning) part of the drillhole have been seen in nearby Renforth drilling, however, additional historic results between the Discovery Veins and the southern limit of Renforth's drilling have not, our field crew will prospect and strip in order to locate any surface expression of the gold values in the south part of the historic drillhole. The western access trail ends in the approximate location of the fault in the Discovery Veins, Renforth will be looking for the extension of the western vein through the fault, historically the underground development did go through the fault to the main blast pit, located on the western vein.
Renforth discovered, last summer when moving core in the core yard, previously un-logged visible gold in core from a 2007 drill hole, which was assayed but not logged as visible, nor did any subsequent core reviews or moves make note of this. The gold is fine grained, present on both the cut side and the rounded side of the sawn witness core, located within a blue quartz vein. This intercept is located at a vertical depth of 25m, Renforth will look for a surface expression.
The southern claim block at New Alger has been initially prospected, subsequent to this detailed geophysics have been flown and additional historic records found. The soil survey indicates a heightened level of gold in soil in an area of New Alger not previously examined, prospecting and a confirmatory soil sampling program is planned. Gold in soil typically offers very low grades but is of interest as a pathfinder as it is thought that at New Alger the soil would not be far removed from the source of the gold.
About the work on Parbec
As recently press released Renforth had a successful May 2019 campaign at Parbec, discovering new gold bearing structures on surface in the Pontiac sediments, associated with the previously discovered Diorite Splay structures. This success occurred despite equipment failure, the washing portion of that program was only approximately 30% completed, much of the cutting and sampling which was done was "blind", detail mapping was not completed. With the ability to wash the stripped ground Renforth's geologists have already commenced additional sampling and may choose to return for minor amounts of additional stripping, specifically in the Diorite Splay/Pontiac Contact area where a surface sample of 1.03 g/t Au over 0.2m in a channel was the surface expression of deeper drill intercepts at ~75 and 200m depth (press release June 26 2019). The narrow quartz vein set will be opened up along strike in order to look for widening or splays.
Parbec is located contiguous to the Canadian Malartic Mine, Canada's largest open pit gold mine. Renforth has established a resource estimate of >650,000 ounces of gold located within the Cadillac Break, in a 200m wide (n/s) schistosed unit interlayered between the Pontiac sediments to the south and the basalts (volcanics) to the north. The resource estimate is contained within ~900m of the known ~1800m of strike (e/w) length of mineralization at Parbec, 80% of the resource estimate mineralization is between surface and a depth of 200m. The discovery by Renforth of gold mineralization at Parbec outside of the Cadillac Break/schist unit, specifically in the volcanics to the north and now, with the discovery of the Diorite Splay mineralization, in the Pontiac sediments to the south, expands the hosts and locations of gold mineralization on the property outside of what was, until know, presumed to be the limit. Parbec offers continued exploration targets to expand mineralization, in addition to the 18 holes drilled with positive results since the resource estimate was calculated.
Results of this round of exploration will be released as available.
Brian H. Newton P.Geo, a qualified person pursuant to National Instrument 43-101, has approved the technical information found in this press release.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 - 1099 Kingston Road, Pickering ON L1V 1B5
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.
SOURCE: Renforth Resources Inc.
View source version on accesswire.com: