New Drilling Program At Surimeau Reveals More Attractive Mineralization

It can be a fine line for an exploration company to advance its projects, yet still be prudent in managing the limited available funds. The balance is usually tilted towards one of these priorities. Most junior explorers have opted to the most conservative approach in their exploration ambitions. This often means that activity is constrained with long intervals during which very limited progress is achieved. It is refreshing then to note that Renforth Resources Inc. (CA:RFR – $0.08 & US:RFHRF – $0.06 & GER:9RR – €0.04) has been able to continue with an exceptionally active exploration focus. All the Company’s work has significantly advanced its flagship Parbec property, while the Surimeau project is emerging as a compelling discovery story.

This week, Renforth announced that yet another drilling program is ongoing at Surimeau to follow up on the successful Fall fieldwork activity. Drill pads have been established in the vicinity of higher grade surface mineralization outlined in the eastern, central and western sections of the 275m stripped zone. A fan of three drill holes will be completed from each pad, aligned at 45, 60 and 80-degree angles of dip. This will provide an efficient arrangement to establish continuity of mineralization directly below the surface showings. The fan of drill holes will also provide greater confidence to determine the alignment and true width of any mineralization encountered. The program is planned to a maximum depth of 120 meters below surface.

Geophysical Survey Planned for Entire Victoria West Target Extension

Renforth also reported that an electromagnetic survey will begin shortly at Surimeau. The program will target the entire extension of the interpreted Victoria West target. This represents a strike length of more than 20km continuing to the historic Colonie zone at the western edge of the structure. The program will also investigate up to 4km to the north where the historic Lalonde mineralized showing is located.

Project geologists have previously relied on historic geophysical survey data that was compiled on a regional basis for a much larger area surrounding the Surimeau property. The updated exploration model for the Victoria West structural target suggests that perhaps two distinct mineralizing systems have been overlaid to create the unique deposit setting that is being revealed as each work program is completed. The concept that a distinct ultramafic system of alteration enriched with nickel is intertwined with volcanogenic massive sulphides bearing copper and zinc is being validated through the early drilling results.

Priority to advance this high-resolution geophysical survey is driven by the expectation that the alteration features associated with these two systems in close proximity will generate a clearly indicated magnetic signature. Sections of the structure illuminated by the Mag survey may be correlated with the assay results from recent drilling work. This small sample area may then be used to gauge the potential for other attractive targets further along the structural corridor.

The survey will be shot using an aerial magnetometer sensor on board a helicopter to enable a precise flight grid. Renforth hopes to have this program completed prior to year end. The interpretation of this data will assist the Company to establish new drilling targets for another program to commence in 2022.

Additional Exploration Initiatives in Process for Surimeau and Parbec Projects

Assay results from drill core extracted in previous drilling work have confirmed very attractive resource zones for nickel, copper, zinc and cobalt at Surimeau. It is common to encounter platinum group metals along with nickel mineralization in ultramafic systems. Surface sampling completed by Renforth in 2020 at the Colonie, Lalonde and Victoria West target areas did indeed confirm PGM values. Renforth is now reviewing sections of drill core to resubmit for PGM assays. Positive results from drill core will build greater confidence that these high value metals are more widely distributed within the deposit. Even lower grade PGM content may amount to a significant economic component for a large deposit.

As part of the surface stripping program, Renforth collected sample material from mineralized showings. Some of the assay results from these samples are now being received. The Company has opted to wait until the full suite of assay results are in hand prior to reporting the data.

At Parbec, work continues to compile a large volume of additional exploration data to update the exploration model. This includes more than 15,000m of recently completed drilling, along with historic exploration results that were confirmed and can now be added to the database. This work is expected to generate new targets where additional gold alteration may be encountered.

Conclusion

With the willingness to seize exploration opportunities on short notice and deliver immediate results, Renforth has established itself as a serious player among its peers in the junior mining sector. The discoveries generated by the aggressive exploration activity have certainly justified this approach. Victoria West is emerging as a large scale battery metals prospect. The current round of drilling now underway is planned to assist the Company towards successful exploration further along the system in the months ahead.

All work is strategically planned to build on the results of prior activity. Drilling work earlier this year was designed to expand on the initial discovery zone. The surface stripping program was launched to provide additional information on the structural setting across a broad zone between two drill holes. Attractive higher-grade showings revealed from that program now invite further investigation to outline the continuity to depth. Each phase of work delivers more data to provide clues on the geological setting of this unique deposit.

Meanwhile the progress at Parbec is also demanding further attention. The gold endowment of the project has been significantly expanded during the last year of exploration activity. Ongoing work to incorporate a large volume of additional assay data is revealing new target zones. It is clear that attractive discovery potential remains at Parbec, amidst the near surface deposit area and further to depth.

With two high-profile projects advancing in this district, Renforth is building shareholder value at the end of the drill bit. The current work that is now underway demonstrates the Company has no intention of slowing down. Parbec becomes more attractive for an acquisition by a senior partner with every successful gold interval. Surimeau may evolve into a large-tonnage battery metals deposit. The Company is now positioned for a breakthrough year into 2022. Smallcaps Recommendation: BUY.

Smallcaps.us Advice: Buy	Price Target: $0.29	Latest Company Report (pdf)
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