Renforth Proves 2.5km of Geologically Continuous Battery Metals at Victoria
Continuous mineralized polymetallic system modelled from surface to a maximum vertical depth of 225m over 2.5km of the Victoria Multi Metals ZoneRenforth Resources Inc. (CSE :RFR) (OTC:RFHRF) (FSE-9RR) ("Renforth" or the "Company") wishes to inform shareholders that continuity of mineralization has been confirmed within a 2.5km section of the approximately 20km Victoria Multi Metals Zone, which spans the central part of the Malartic Metals Package. In total, Renforth has drilled 10,316m in 44 drillholes within the 2.5km section, the deepest mineralized pierce point is 225m vertical depth, which supplied the data for 3d modelling in LeapFrog, a tool employed by Renforth's geologists to assist in planning future work, which also demonstrates the continuity of the mineralization. This has identified target areas to be followed up on. Renforth does not have a resource for disclosure in place on the VMMZ at this time.
LeapFrog Screen Grab for Illustrative Purposes
Click Image To View Full Size
"The 3d model, visually depicting the potential of the Victoria structure is an exciting thing to see. We have more work to do, lots of it, to prove this potential, but with the proof of continuity we now understand there is reason to continue our efforts. We are uniquely positioned in a highly prospective area, surrounded by excellent infrastructure, to define the next important polymetallic deposit in Canada" states Nicole Brewster, President and CEO of Renforth.
Click Image To View Full Size
Victoria Multi Metals Zone (VMMZ)
Renforth Director Aline Leclerc P.Geo states "the VMMZ is a clearly defined magnetic structure, approximately 20km in length, running east/west across the centre of the Malartic Metals Package (formerly referred to as Surimeau), a wholly owned ~300 sq. km. road accessible land package, with hydropower on the property, near Malartic, Quebec. The VMMZ has coincident EM anomalies along its entirety, many of which have been successfully sampled on surface, which, in conjunction with historic and Renforth's own work, has proven the structure to be mineralized with an "Outokumpu Style" (named for a mining district in Finland where mines have a unique style of polymetallic mineralization) polymetallic package consisting of Ni/Co/Fe/Cr/Pt/Pd in an Ultramafic intertwined with a VMS hosting Zn/Cu/Ag/Au. A structure of this size, with this mineralization, is one of only a handful of identified "Outokumpu Style" occurrences around the world."
Click Image To View Full Size
~20km Long VMMZ Structure
The VMMZ mineralized assemblage is hosted in intercalated lenses of graphitic black shales, carbonates and calc-silicate altered lenses of ultramafic flows which contain elevated zinc, copper, and nickel sulfides. The shales are comprised of deep marine sedimentary layers, interpreted to be some distance from the sub-sea volcanic source of the mineralization, and range in thickness from .5 to several meters containing pyrite, pyrrhotite, sphalerite, and chalcopyrite mineralization (Zn/Cu/Ag). The intercalated ultramafic flows and lenses range in thickness from several meters to tens of meters in thickness and host Ni (and companion elements) mineralization throughout, generally grading in a range between 0.15-0.3%. Renforth has observed a stacking of mineralized zones, which creates multiple contact zones between the VMS shales and the ultramafic, a positive development proven in the recent drilling. In addition, this modelling exercise demonstrates that drilling should have extended further to the south, particularly in the "Victoria West" end of the structure, as indicated by subsequent surface samples.
States Francis Newton P.Geo OGQ: "Regional amphibolite grade metamorphism has affected the ultramafic flows to tremolite and locally carbonate, diopside and feldspar. The heat from this interaction, along with subsequent hydrothermal alteration, has mobilized the contained nickel mineralization present at the contact between volcanic flows of ultramafic composition and the graphitic mudstone. This process resulted in sulfide nickel enrichment within the contact zone calc silicate lithology. This mineralized horizon is continuous in varying widths along the length of the magnetic anomaly and, as we have seen in the 2.5km section, is actually repeated at least three times creating a series of stacked mineralized calc silicates separated by lenses of ultramafic bodies."
Click Image To View Full Size
VMMZ Mineralization
The mineralization within the VMMZ is described by Martin Demers P.Geo: "Initial petrographic study work was carried out in 2021 on surface samples taken on the exposed mineralization to provide key information on the alteration and mineralization within the VMMZ. Findings conclude that the nickel mineralization is mainly hosted in pentlandite inclusions and exsolutions in pyrrhotite, no matter the volume of sulfides or the composition of alteration.
Mineralization is strongest along the contact with the graphitic mudstone in a calc-silicate alteration zone widely identified in core logging where metamorphic alteration concentrated the mineralization in pyrrhotite, pentlandite and occasional millerite sulfides. There is little to no olivine nor magnesium within the alteration zone and the bulk of the nickel is sulfide hosted." Renforth intends to continue this petrographic identification work, including with recent drill core. Additionally, the company aims to initiate thorough testing for platinum and palladium. Previous testing, albeit limited to only a handful of samples, has confirmed the presence of Pt and Pd within the system.
Renforth has drilled 10,316m in 44 drill holes within a ~2.5km strike length on the Victoria MMZ. Most recently, in Nov/Dec 2023, an infill program was conducted, drilling 3575m in 11 drillholes. This program filled gaps between prior drillholes and demonstrated continuity of mineralization. The VMMZ remains open along its length to the east and west beyond the 2.5km section, as well as within its width to the north and the south and at depth, below existing work. The deepest pierce point within the 2.5km section of the VMMZ drilled is 225m vertical metres depth in SUR-23-54.
Assay Information
Assay data which forms the dataset for the 2.5km area includes the following top 10 intersections (the 10th is a tie), presented with a nickel equivalent grade calculated with a formula using Ni+Cu+Zn+Ag+Co+Fe+Cr, additional information regarding the calculations appear below. Platinum group elements were not included in this calculation because very limited analysis for palladium and platinum has been completed, although previous testing has confirmed the presence of Pt and Pd within the system. More follow up work is still required.
Top 10 Intervals in 2.5km Long Area
2023 Drill Program Assay Highlights
The 2023 drill program holes, planned on the basis of distance in order to fill gaps in the drill pattern, bring the spacing to ~100m between drillholes across the ~2.5km. This program succeeded in intersecting the mineralized system in each hole, confirming the presence of at least 3 repetitions of mineralized zone, possibly due to multiple intrusive events.
Footnotes to the Assay Tables
1 - Intervals stated are as measured in the core box, not true widths. At this time, true widths are not known.
2 - The Metal Eq% formula used = (Metal value+(additional metal ppm value*(additional metal $/gram)/(metal $/gram)))/10000
3 - Metal values used in the Eq formulas are as follows (Spot price dates for each metal with the USD price per gram) Jan 25th, 2024 - Lead $0.00216, Cobalt $0.02914, Nickel $0.01647. Jan 26, 2024 - Zinc $0.002587, Copper $0.008496, Iron $0.000136, Silver $0.7367. Oct 21, 2023 - Chromium $0.00386.
4 - The Ni Eq % and Zn Eq % are calculated without a cutoff. Renforth has only performed limited thin section work and no metallurgical work, the percent recovery of metals during processing is not known and is therefore not assumed.
5 - The assay methods used in the early stages of exploration was Na-peroxide fusion. The assay method was changed to Aqua Regia which is still in use. Renforth is working on standardizing the analytical method used going forward to provide more reliable geochemistry compatible with future calculations and modelling work.
Qualified Person
The technical contents of this press release have been reviewed and approved by Francis Newton P.Geo OGQ. In addition, and Ms. Aline Leclerc P.Geo and Mr. Martin Demers P.Geo have respectively reviewed and approved the portions of the press release attributed to them.
Technical Information
The samples highlighted in this press release were all selected in the field during logging, split, bagged, and tagged and securely delivered to the facilities of ALS Laboratories in Val d'Or Quebec and assayed for multielement analysis using Aqua Regia.
Renforth is pleased to announce the results of its annual of shareholders ("AGM") held on January 26, 2024 in Toronto, Canada. All resolutions were passed including (i) the re-appointing McGovern Hurley LLP as auditor of the Company for the ensuing year and authorizing the directors to fix the auditor's remuneration; (ii) the nominees listed in the management information circular dated December 15, 2023 (the "Circular"), which was mailed to Renforth shareholders of record as of December 12, 2023, were elected to the board of directors of the Company to hold office until the next annual meeting of shareholders or until their successors are duly appointed or elected. Those elected to the board were Nicole Brewster, Wally Rudensky, Warren Smulowitz, John Webster, Kellie Leitch, Judi Wood and Aline Leclerc.
About Renforth
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. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth's land position encompasses several areas of interest.
Renforth's position is unique in that the both the battery metals mineralization within the Malartic Metals Package ("MMP") and our gold deposit at Parbec are road accessible, with hydro power crossing the properties, in an established and secure mining jurisdiction which regularly ranks as Top 10 (as determined by the Fraser Institute) in the world.
Renforth is engaged in the active exploration of the proven MMP battery metals mineralization, working towards a maiden resource statement, and the remodeling of our Parbec gold deposit to incorporate the ~15,000m drilled subsequent to the 2019 effective date of the last MRE.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton PGeo, OGQ 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
Follow Renforth on Facebook, LinkedIn and Instagram!
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.