Highest Grade Nickel So Far Encountered at Renforth’s Surimeau Property
It was once common to expect assay results within 2-4 weeks after submitting samples. These days, the volume of samples arriving in Quebec laboratories has stretched out the time such that delays of 16-20 weeks are common. Active explorers like Renforth Resources Inc. (CA:RFR – $0.07 & US:RFHRF – $0.06 & GER:9RR – €0.05) face an added challenge as they are often awaiting assays results from a previously completed program before selecting follow-up targets for the next round. This week, Renforth presented long-awaited assay results from drilling work conducted late last year at its Surimeau property.
The assay results in this batch were completed from a total of seven drill holes from the Victoria West structural target. The drilling program was launched to investigate the area below where the surface stripping program had been completed in the fall of 2021. This stripping program in turn was carried out between two drill holes that were part of a previous drilling program. About 275 meters along strike at Victoria West was exposed within the stripping program. With so many drill holes now completed in this extension, the drill density for this portion is higher than for any other section of the entire Surimeau property so far.
Victoria West is just the western extent of the overall structural corridor that is interpreted to continue for roughly 20 kilometers. In addition to the two previous drill holes at either end of the target area, plus the volume of data generated through the extensive trenching and channel sampling work, the multitude of assay results announced this week contribute a comprehensive indication of the mineralization at the upper levels of this part of the structure.
Exciting 3.46% Nickel Interval Encountered Across 1.5m Subinterval
Intervals of continuous mineralization, encountered over tens of meters, were reported in every drill hole, often commencing almost from the surface. In drill hole SUR-21-26 a section of more than 58m started from just 2.8m below surface. This interval yielded an average of 0.17% nickel along with 116.4ppm copper. In SUR-21-28 an impressive interval of more than 170m was mineralized with an average of 0.16% nickel and 100.2ppm copper. The system remains open to depth.
The full suite of sample results outlines a deposit area along the full strike length of the stripped section, trending down to nearly 200m depth. This mineralization is characterized by lower grade nickel, most commonly in a range of 0.15 – 0.25% content across intervals of tens of meters of core length. Associated copper values within these sections were frequently encountered above 100ppm. Significant zinc content was also reported in many sections.
There were also encouraging subintervals reported where much higher grade mineralization was encountered, including a section spanning 1.5m bearing 3.46% nickel plus 491ppm copper. This section was within the deepest mineralized interval from the entire program. It supports the speculation that higher grade resources may be discovered as the drilling transitions to targets further below surface. This was part of a larger interval extending 12m in which an average of 0.16% nickel plus 100.2ppm copper was reported.
Renforth is now planning the next phase of work at Surimeau. As the snow cover melts and the ease of access improves to the interior of the property, the Company plans to continue with additional prospecting around Victoria West by Mid-April. Drilling work is expected to resume as early as May. A program of around 3,500 meters of total drilling is envisioned for this next round.
The tantalizing glimpses of higher grade mineralization build speculative interest in the potential at this early stage of exploration. However, it should be noted that the broad lower-grade mineralized zones commonly encountered so far are attractive as well. The setting near-surface of this deposit area at Victoria West is attractive. Renforth aspires to outline a larger deposit of sufficient tonnage such that even the lower average grade presents attractive economic potential. In this context, any higher grade zones that may ultimately be defined are a bonus.
Surimeau is a project area of such magnitude that further exploration may eventually reveal a district-scale development prospect. So far only a very small portion of the combined strike length of targets has been investigated. Nonetheless, the Company has already presented many extremely attractive discovery zones. Even more appealing, the emerging Victoria West deposit is located in close proximity to important infrastructure that presents a relatively uncomplicated development scenario. An advanced corridor of world class mining activity is located just a short drive away by car from the deposit.
Given the surging demand for battery metals underway at the current time, the appeal is exceptional for a potential new source of mine supply within a favorable district to support development. There is a great deal of work ahead to fill in the blanks and validate this potential, but the steady flow of positive exploration data presented by Renforth at this early stage is indeed encouraging. The Company has a solid position of working capital to fund additional work. The next phase of drilling is scheduled to commence within weeks. With a successful track record of previous exploration at Surimeau, the potential for further discovery remains extremely attractive. Smallcaps Recommendation: BUY.
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