Drilling at Renforth Resources’ New Alger Property Again Encounters Gold Mineralization
The most productive gold districts are located along favorable geological structure corridors. Important structural trends provided the ideal conditions for subsurface fluids circulation that contributed to the emplacement of abundant resource deposits. Clusters of mines may be concentrated along the richest sections of these districts.
Renforth Resources Inc. (CA:RFR – $0.04 & US:RFHRF – $0.03) is very active in one of these districts, the world-famous Cadillac Break in Quebec. Its wholly-owned New Alger property encompasses a defined extension of the main gold-bearing structural corridor within its boundaries. Previously producing gold mines serve as confirmation for the resource potential of this section of the trend. Remnant deposit areas and gold showings present intriguing opportunities for new exploration work.
A preliminary exploration program was completed for New Alger in the spring of 2019. Surface stripping work enabled channel sampling along promising outcrops. The result of this field work outlined three new target areas with surface gold showings. Multiple gold-bearing veins outcrop at surface and demonstrate attractive combined widths of alteration, with encouraging assay values. The Discovery Vein surface gold system, outlined through fieldwork, became a follow up target for additional drilling work. Extensions to the historic Thompson-Cadillac mine are also a priority to increase the preliminary resources for the project.
Deeper Target Zones Successfully Encountered for All Ten Diamond Drill Holes
This week, Renforth reported that its first diamond drilling program at New Alger has been completed. A total of 2,027m of drill core was pulled from ten drill holes. This drilling was planned to test all three of the main target zones outlined during the spring surface fieldwork program. Drills were aligned to intersect the interpreted vein systems at various depths below the outcrop sections identified in sampling.
The orientation of a drill rig may be calculated with the best efforts to reach a target zone, but that is not always accomplished. Geologic processes of deformation and displacement far underground can shift an entire rock mass. The challenge was somewhat easier at New Alger due to the presence of historical drill records and an extensive dataset of the regional structure outlined further along strike. Renforth focused on near surface targets in the first round of drilling. It is noteworthy that all ten of the drill holes in this program were successful to intersect the targeted vein systems.
Numerous Veins and Extensive Alteration Areas Encountered in Drill Core
The first 7 drill holes were targeting the Discovery Vein section of the property. This area is located roughly 250m to the south of the historic mine workings along the Cadillac Break structure. Surface outcrop has been exposed for a strike length of 270m in this section. Several distinct veins and vein swarms were identified within alteration measured from 1m to over 15m in width.
The Discovery Vein area is interpreted as a splay of the Cadillac Break. Similar secondary features have been encountered elsewhere along this major structural trend. Upon further exploration splay veins often yield productive gold discoveries. The Discovery Vein target area therefore could evolve into an important gold zone. The area is a new discovery and has never been tested by drilling in previous exploration activity.
The final 3 drill holes were concentrated around the historic Thompson-Cadillac mine area. Drilling was focused toward the previously untested northern section. The program was limited to the near-surface zones and was not expected to penetrate to the highly prospective volcanic rock further to depth. However, Renforth also successfully discovered interesting new gold-bearing zones from this drilling.
Inspection of the drill core highlighted a section of sericite alteration within a broader horizon of schist. The schist itself is typically of little interest. However, where this heavily fractured host rock is intruded by gold bearing fluids, attractive zones of gold alteration may be emplaced. Sericite is another pathfinder mineral commonly encountered within alteration zones of the Cadillac Break.
Evidence for Potential Gold Deposit Highlighted by Pathfinder Minerals
Gold deposits in this district are often hosted within quartz veins. Typical alteration often includes pyrite, arsenopyrite and chalcopyrite. These minerals may be observed both within the veins and in the surrounding host rock.
The abundant distribution of pathfinder minerals observed in the vein intersections, were similar to those encountered in the surface sampling program. This supports an encouraging outlook that gold values may be present in the sections down hole consistent with the assays from sampling at surface, where multi-gram gold values were reported in the spring.
Several veins and vein swarms were observed in the drill core. These ranged from shallow sections starting just 14 and 20 meters down hole, through to deeper vein penetrations 190m or more below surface.
The most promising section of this round was observed within drill core from the Thompson-Cadillac mine area. An interval nearly 25m wide exhibited intense alteration, starting 216m down hole. Along with pathfinder minerals and sericite, visible gold was present in the drill core. Further below, the drilling penetrated upper layers of volcanic rock formation. There, a porphyritic unit also bearing alteration minerals was encountered near the bottom of the drill hole.
Porphyry style alteration is particularly attractive. Porphyritic alteration occurs in highly fractured host rock at the margin of volcanic intrusions. This kind of system is commonly associated with larger gold deposits. The section then may be the first hint of a much more attractive target horizon awaiting deeper drilling.
The acquisition of a large property area in a premier gold district provided Renforth with an opportunity. An ambitious exploration program has now commenced to advance this project. Results from preliminary fieldwork have already validated the overall exploration potential. Pending assay results are eagerly anticipated and expected early in 2020. These results may prove to be a catalyst for a strong move higher for Renforth’s share price.
The Company has outlined a new discovery amidst a productive and heavily explored structural trend, in a historic gold district. Elsewhere along the Cadillac Break, vein-hosted gold deposits have been encountered to great depths. With the relatively shallow drilling work reported, Renforth is on the path to discovery at New Alger. This holds great promise as the progression continues towards deeper vein extensions.
Consider the LaRonde Mine located immediately to the west and contiguous to the New Alger property. Operated by Agnico Eagle Mines Ltd, with ongoing production for more than 30 years, LaRonde continues to yield new gold zones further to depth. Extending more than 2km, the main access portal is the deepest single-lift shaft in the Western Hemisphere. LaRonde is practically in the backyard of New Alger. This is a testament to the exciting potential of Renforth!
New Alger is just one of several prospective property holdings for Renforth, making the Company a very attractive stock in the Canadian junior mining sector. The Company plans to complete a financing to raise additional funding. Thereafter, Renforth will continue with another round of drilling early in 2020 to advance other target zones. Smallcaps Recommendation: BUY.
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