Renforth Resources Inc. Update for Battery Metals, Lithium and Gold
Renforth Resources Inc. (CSE:RFR) (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to share the following update on our upcoming project activities with shareholders. We will resume field operations this week at our >300 km2 Surimeau District Property in NW Quebec, working to advance our ~6km long Victoria West polymetallic battery metals system as well as copper and lithium occurrences on the property as detailed below. At the same time, our Parbec Gold Deposit is currently the focus of the structural geology group we have retained to do the first ever structural study of this property which straddles 1.8km of the Cadillac - Larder Lake Fault Zone ("Cadillac Break"), with a surface gold resource identified over a portion of that distance, which also encompasses Renforth's discovery of a splay of the break into the Pontiac Sediments to the south of the Cadillac Break.
Surimeau District Property
1 - Our 912 line km airborne mag and EM survey will commence flying later this week. Depicted in red on the map below the flight lines will cover the ~6km strike of Victoria West, the Colonie showing in the east and the unexplored ~14km between the two mineralized areas which are joined by the ~20km long magnetic anomaly. In addition, flightlines will extend to the north to include the LaLonde area, where polymetallic mineralization has been drilled historically over a strike length of ~2km, verified by Renforth's own surface sampling. Upon completion of the survey, the data will be compiled and interpreted as part of the target selection process for the next round of drilling, likely to commence in March. At this time the assay results for 6 of the 7 holes drilled prior to Christmas are still outstanding, those results will be released once they are all received.
2 - The northern part of the Surimeau District Property, formerly referred to as Malartic West, hosts a copper/silver discovery made with an 8.08% Cu grab sample in 2018 (refer to press release of Sept. 4, 2019), this is now a surface exposure of ~165m of copper and silver sampling. Please note that grab samples are preferentially selected and not illustrative of the whole of the mineralized system. In order to continue exploration on this discovery several test lines of IP will be run over the known mineralization and stepping out from it in order to guide future exploration, likely to consist of limited stripping.
3 - The Surimeau District Property hosts numerous pegmatites, several identified by Renforth's own geological team in the field and historically documented. In several instances Lithium is also present in the same location. To date Renforth has not focused on lithium at Surimeau, instead the polymetallic "Battery Metals" package of nickel, cobalt, copper, zinc, platinum and palladium which is present in 6 known areas of the property have been the focus, specifically at Victoria West. Renforth is now broadening its exploration efforts on this vast property to include lithium. In order to do this, we will first reassess samples which we have on hand that returned above background lithium values as part of our standard testing of samples. Several of these samples, including from the north of the property and the Victoria West area, will be assayed with a lithium specific assay package. In conjunction with Ms. Aline Leclerc OGQ, one of Renforth's Technical Directors, our geological team is planning a prospecting campaign. It is anticipated that this will include returning to the northern part of Surimeau where Renforth noted the presence of pegmatites and samples returned lithium, as well as to the south of the property where pegmatites were noted in the field and are documented historically, within or in proximity to the Decelles Batholith, which have not been sampled. It is anticipated this work will take place in the spring.
Surimeau Survey Flightlines
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Surimeau Lithium Exploration Targets
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Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101.
For further information please contact:
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B - 955 Brock Road, Pickering ON L1W 2X9
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About Renforth
Renforth wholly owns the ~260 km2 Surimeau District Property, which hosts numerous areas of polymetallic and gold mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. In addition to this the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
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 surface over a strike length of ~500m.
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.