- Renforth Resources (RFR) reports additional results from its 2020 drill program at its Parbec gold deposit in Quebec
- The drill program finished at 15,569 metres with assay results from a total of 35 drills still outstanding
- Renforth is well funded, with approximately C$6.3 million in cash and securities on hand as of March 15, 2021
- Renforth Resources (RFR) is an active exploration company
- Renforth Resources Inc. (RFR) is up 5.26 per cent, trading at $0.10 per share at 11:15 am ET
Renforth Resources (RFR) reports additional results from its 2020 drill program at its Parbec gold deposit in Quebec.
Results included 10.75 metres grading 1.54 g/t gold and 2.85 g/t gold over 3.61 metres.
Renforth holds an open-pit gold deposit in Parbec, a district scale battery metals discovery in Surimeau, and the Malartic West property, the site of a copper/silver discovery, all located near Malartic, Quebec, along with several other mineralized properties.
The company released assays for drill holes PAR-20-114, 118 and a portion of 121, which were completed during the Fall 2020 program, which totalled 9,644 metres.
These results continue Renforth’s success in drilling at Parbec with each hole drilled returning gold values of interest.
The drill program finished at 15,569 metres with assay results from a total of 35 drills still outstanding from both phase one Fall 2020 and phase two Winter 2021 programs. The program was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones with undercut drill holes and to twin holes drilled between 1986 and 1993.
The assay results from the total of 62 holes will be used for a new 2021 resource estimate for Parbec, anticipated to be completed in June or July 2021. The current resource estimate shows 104,000 indicated ounces of gold at a grade of 1.78 g/t gold and 177,000 inferred ounces of gold at a grade of 1.78 g/t gold.
In late March Renforth began a 3,500-metre drill program at the 215 square kilometre Surimeau District Property. This drill program is on the Victoria West Target Area, a nickel-rich VMS target that has been explored both historically and more recently by Renforth.
This program has successfully drilled off 2.2 kilometres of this strike length with significant chalcopyrite, sphalerite and pyrrhotite mineralization identified in each hole drilled. The mineralized anomaly is now proven to be up to 250 metres in width.
Four kms of strike length remains along the anomaly to the west within the property boundary and 12 km to the east which has never been prospected or drilled.
The final hole planned in the program is SUR-21-18, an undercut of two earlier holes, SUR-21-06 and SUR-21-07. Samples have been selected, split and delivered to the lab for this program, results are awaited.
Renforth is well funded, with approximately C$6.3 million in cash and securities on hand as of March 15, 2021.
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Renforth Resources (RFR) is an active exploration company.
Renforth Resources Inc. (RFR) is up 5.26 per cent, trading at $0.10 per share at 11:15 am ET.
