Infill Drilling Delivers High Grade Gold Interval at Renforth’s Parbec Deposit
This week Renforth Resources Inc. (CA:RFR – $0.10 & US:RFHRF – $0.08 & GER:9RR – €0.06) was able to present the complete assay results for another drill hole from the Parbec project. Multiple mineralized intervals were encountered at various depths in hole PAR-20-125. This has been commonly observed in many of the drill holes from this program. PAR-20-125 was collared as an infill hole between known gold intervals from previous drilling work. However, the distance between those values was too wide to enable calculation of gold resources for that section. With the successful result of numerous gold sections documented in this hole it means another of the gaps of the deposit may now be confirmed as valuable gold resource zones when the next update is presented.
In addition, the higher grade gold values from this hole were attractive. One of the highest grade intervals of the entire program was reported in this release with the half meter section of 17.3 g/t gold. This was part of a larger interval of 2.6m with an average of 7.08 g/t gold.
Another interesting aspect from this news was a narrow gold zone of 2.25 g/t encountered below 300m down hole. This represents another indication of the potential for higher grade gold alteration to depth. However, the near-surface gold deposit is the priority for the open-pit mining potential, considering the similarity of Parbec to the nearby Canadian Malartic gold mine.
This drill hole was the last of the outstanding batches of drill core samples from the drilling completed in 2020. All of the remaining Parbec assays pertain to drilling from the second phase of the program that commenced early in 2021. And the winning streak for the successful Parbec drill holes that encountered gold values continues with this news update.
Exploration Programs Set to Commence at Malartic West Project
Even with two ambitious drill programs recently completed and a backlog of assay results still eagerly awaited by shareholders, Renforth is staying true to its character and has opted to advance work at two other wholly owned properties in the portfolio. This week, the Company confirmed that a drill program is scheduled to commence at the Malartic West project. This is another expansive property holding, spanning 53 square kilometers in area. Malartic West is ideally located, contiguous to the northern boundary of Surimeau. On its eastern boundary the Canadian Malartic Gold mine is immediately adjacent. Geophysical interpretation suggests that many prominent structural features related to gold mineralization extend on to the property area.
However, the maiden drilling effort will focus on a copper-silver target that had been initially encountered during recent exploration work completed by SOQUEM on the property. Renforth revisited the outcrop, verified and traced the surface showing roughly 175m along strike. A layer of overburden denied any further surface stripping of the outcrop but the program geologists believe it may continue beyond that obstruction. Renforth has planned 1000m of drilling to be completed in five holes, each about 200m in depth. Some of these will be within the previously outlined target area, while some of the drilling will also punch through the overburden to investigate the potential extension area.
Updates Presented for Other Projects
The Surimeau story remains a very important part of the discovery outlook for Renforth. Assay results are eagerly awaited from the previous round of drilling completed during the spring. Recall that Renforth encountered visible copper, nickel and zinc minerals in every hole of the program.
Some partial assay results have been received from the Surimeau drilling, but Renforth has opted to wait until data for at least a full set of results from the drill hole is available before releasing the news. The expectations are high because the interpreted magnetic anomaly highlighted for the Victoria West target area appears to have been confirmed with the massive sulphide mineralization observed in the drill holes. This is important because the same geophysical target extends along a strike, for a length of more than 20 kilometers. Moreover, Victoria West is just one of many similar structural targets identified within the enormous property area.
Meanwhile, data compilation is underway to review previously completed exploration results from the Nixon-Bartleman property in the province of Ontario. Nixon-Bartleman is located just 10 kilometers from producing gold mines of the Destor-Porcupine Fault. Data from a surface sampling program completed by Renforth in 2014 will be included in this work, where a gold showing has been stripped and sampled on surface over 500m through the property.
The compilation will involve historic exploration activity from as far back as the 1920s. Geophysical survey data will also be part of this program. Ideally, this full review of all information will shed light on structural controls for gold emplacement. Geologists may use this compilation to identify specific exploration targets. The process is expected to take a couple of months, with the objective to consider all previously known results as the planning advances for future exploration work at the property.
Renforth is a junior explorer with a high quality portfolio of property assets. The Company has set pace for the entire sector in terms of active exploration. This work in the field has achieved one discovery after another. One successful transaction was already delivered when the New Alger project was sold in 2020. Now work is focused at Parbec to outline a growing gold deposit that is already attractive as a second acquisition target.
The update this week outlined the growth plan for the future. Surimeau is emerging as a potential district-scale treasure trove of base and precious metals. The exploration targets already identified on this one property should keep the Company busy for many years. But Renforth is already looking further ahead and will begin the maiden drilling program shortly at Malartic West, where the potential for a discovery surprise is also very real. And preliminary review is scheduled for Nixon-Bartleman with a historic data compilation to better guide pending exploration at that project.
The commitment to aggressive exploration is balanced by the approach to thoroughly review information and carefully select optimum targets. This strategic focus is one of the reasons why Renforth has been able to deliver so many successful results in its exploration programs. The perfect winning streak at Parbec, with gold encountered in every drill hole, is a testament of that approach.
The positive results and high grade gold intervals that have been reported recently at Parbec also build the speculative potential value for a transaction to vend the property. Each new gold zone that is presented contributes to build shareholder value. Smallcaps Recommendation: BUY.
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