Second Drill Program at New Alger Property Starts With Big Bang
Even after more than a century of intense exploration and mining activity, the Cadillac Break structural corridor continues to yield new important gold discoveries. It is the prospect to outline a substantial gold deposit that prompted Renforth Resources Inc. (CA:RFR – $0.04 & US:RFHRF – $0.03 & GER:9RR – €0.02) to acquire the New Alger project in this prolific district.
Renforth launched its first drilling program in almost 5 years at New Alger in the fall. Attractive gold values were reported from sections of the property that had never been previously considered. An immediate program was planned to follow up on a new gold zone located to the west of the Thompson-Cadillac mine.
This week Renforth reported success to extend the emerging gold discovery zone. The first drill hole of the program (REN-20-38) is located some 110 meters further to the west of previous drilling within this target area. All three of the main quartz veins related to this structural target were encountered. Perhaps the most attractive assay segment included 2.87 g/t gold across an interval of 4.6 meters.
Similar to the previous round of drilling, a gold-bearing alteration halo has been observed around some of the higher grade intervals. The gold zone extends beyond the veins to include alteration in sections of the surrounding host rock. Brecciated and fractured alteration zones adjacent to the quartz veins were mineralized. Gold was encountered along with carbonate, sericite and biotite alteration. This led to a much wider overall gold-bearing zone in this drill core, up to 16m in width.
Potential for Additional Gold Resources within Cross Trending Veins
Another appealing aspect to this latest round of drilling work, Renforth reports that a cross trending vein interval has been encountered. The main structural trend of at least three major quartz veins extends along an east-west axis, based on interpretation of the results from the first round of drilling work at this target area. Current drilling was oriented to intersect this structure further to depth. These gold-bearing quartz veins were successfully pierced in the first drill hole, extending the known depth of the system to over 400m below surface.
However, a narrow gold interval, situated above the primary vein corridor, was also reported. This section amounted to just 0.4m of the drill core, roughly 350 meters down hole. The section of quartz vein alteration was hosted in the northern end of the Piché volcanic rock. It was an accident of good fortune that this narrow interval was encountered sub-parallel to the main axis of the identified vein system. Renforth has interpreted that the narrow vein may in fact be part of a low angle, cross trending system.
The potential impact on the overall exploration model is important. Similar cross trending veins were encountered at the workings of the Thompson-Cadillac mine. However, all of the historic drilling work completed around the vein target zone has been aligned on a north/south axis to intersect the main structure at an optimum angle. Therefore, other cross trending veins may exist in this zone but were missed entirely by previous exploration work on the property.
By adjusting the direction of drilling for future targets, Renforth will have the opportunity to discover more of these cross trending veins. Perhaps significant gold resource leverage may be added to this emerging deposit area.
Renforth remains active to continue advancing exploration at New Alger to expand on its gold discovery. The first drilling program late in 2019 was successful with gold encountered in every drill hole. The next round has commenced, and the Company has again achieved meaningful gold results with this first drill hole reported.
Analysis of the drill core demonstrates the target zone has now been expanded both laterally and to depth. All three main veins of this structure were intersected and some attractive wider zones of gold bearing alteration were also reported.
The intriguing prospect to outline additional gold zones within cross trending veins is also appealing. Established gold deposits elsewhere along the Cadillac Break have demonstrated the importance of cross trending alteration. Often enriched zones of these deposits are found where veins systems converge, undergoing multiple phases of geologic activity. It is too early to state if this newly interpreted vein interval is indeed part of a larger system. More work is required to better understand the potential. This previously unknown vein certainly adds intrigue to the story.
As one of the most active exploration stories working in Quebec, Renforth is moving forward with its 2020 winter drilling program. Four drill holes are planned in this fully funded round. The brisk pace of ongoing exploration and a steady stream of assay results will remain catalysts to create shareholder value. Smallcaps Recommendation: BUY.
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