Renforth Resumes Drilling at Parbec, Geophysics Completed at New Alger, West Malartic
Toronto, Ontario (FSCwire) - Renforth Resources Inc. (CSE – RFR) (“Renforth” or the “Company”) is pleased to announce that ongoing definition drilling has resumed on our Parbec resource property, located on the Cadillac Break, tied on to the Canadian Malartic Mine in Malartic, Quebec. This drill program segment, anticipated to consist of ~1500 metres of drilling, follows drill campaigns in December 2017 and January 2018 by Renforth where a total of 2884 metres were drilled in 14 drill holes at Parbec, with each hole drilled intersecting gold outside of the March 2016 resource model, redefining and extending the mineralization at Parbec. The local availability of contractors and road access on the property allows Renforth to segment the planned drilling at Parbec into small programs, with stoppage time to allow for the receipt of assay results and incorporation of that data into the newly completed 3D deposit model, incorporating results obtained in the planning of the next program segment on an ongoing basis.
New Alger Geophysics
Renforth is pleased to inform shareholders that 840 kms of a “High Resolution Quadri-Mag, VLF and AFMAG Heli Borne Survey” were completed the first week of March by Eagle Geophysics. The data obtained is currently being processed and interpreted. Eagle Geophysics has developed and modified geophysical equipment and software to provide the best resolution possible in several layers of information to help understand the structural fabric at surface and at depths of up to 1 km. One of the uses for this survey is in the Company’s ongoing structural interpretation of the relationship between the gold-bearing surface Discovery Veins and the Thompson-Cadillac Mine Area Resource to the Cadillac Break and its’ Deformation Zone, recently identified at New Alger.
West Malartic Geophysics by SOQUEM
Renforth is also pleased to inform shareholders that SOQUEM has recently completed an initial exploration program under their earn in requirement of a total of $1.3 million in project spending over 3 years to earn a 50% interest in the West Malartic property. At West Malartic, also tied on to the Canadian Malartic Mine, in this case south of the Cadillac Break, SOQUEM cut a total of 160 km of line, followed by surveying 140 km of ground IP. The data resultant from this survey, along with other property information available, is being incorporated into a comprehensive geo-referenced property dataset by SOQUEM. In addition Renforth is advised that SOQUEM intends to prospect at West Malartic this summer, followed by a drill program. Renforth looks forward to the continuation of this investment in West Malartic by SOQUEM, additional information will be shared with Renforth’s shareholders as it is available.
“We continue to develop each of our properties, defining resources and pursuing exploration. Our goal is to demonstrate the potential of each of our properties as best we can. At our resource properties on the Cadillac Break, New Alger and Parbec, this means exploring new discoveries, defining the presence and extent of gold on the properties, and adding ounces with a drill bit. We are fortunate to have a property the caliber of West Malartic, gold bearing and tied on to Canadian Malartic, to offer SOQUEM the opportunity to exercise their proven exploration ability at, adding value for Renforth while earning their interest. At each of the gold bearing Denain-Pershing and Nixon-Bartlemen properties we have commenced data acquisition and compilation in order to formulate our initial and continued exploration respectively, with resource definition the focus at Nixon-Bartlemen. We have five gold bearing properties on, or associated with, proven gold-bearing structures in active gold exploration camps. We are focused on demonstrating the maximum value in our ground we can” states Nicole Brewster, President and CEO of Renforth.
Mark Wellstead P.Geo, OGQ Special Authorization #388 of Minroc Management is a “qualified person” pursuant to the guidelines of National Instrument 43-101 and has reviewed and approved the technical disclosure in this press release.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#200 – 65 Front St. E, Toronto, ON M5E 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.