News Release
New Geological Interpretation Establishes Gold Exploration Target Area in Pontiac Sediments at Renforth's Parbec Gold Deposit
Renforth Resources Inc.
New geological model and interpretation of the Parbec Gold deposit has identified mineralized structures crosscutting the lithologies, resulting in a stacking of individual gold zones at or near surface and continuing at depth into the Pontiac sediments with a clear southward dip underneath the Pontiac sedimentary/Cadillac Break contact South dipping extensions of known mineralized zones have been identified along the Pontiac contact, including tying in much deeper mineralized intercepts from 2007/2008 drilling Modelling has identified locations where the mineralization is sub-cropping (only 1-5m overburden) south of a 50m buffer zone for the rail line. These are potential sites for stripping, sampling and bulk sampling Renforth Resources Inc. (CSE – RFR) (OTCQB– RFHRF) (FSE-9RR) (“Renforth” or the “Company”) wishes to inform shareholders that our updated interpretation of our Parbec Gold deposit proves the presence of gold mineralization in structures oriented oblique to the Cadillac Break and extending into the Pontiac sediments. Interpreted conclusions include instances where surface mineralization within the Cadillac Break forms a continuous zone with gold mineralization within the Pontiac sediments to the south, crossing the lithologies. This is a new exploration target concept at Parbec with bulk tonnage potential. These interpreted oblique structures carry gold mineralization to the south of the Break, within the Pontiac sediments and have been intersected in several locations at Parbec. Similar to our Malartic Metals Package property, there is almost a complete lack of exploration in the Pontiac sediments, whereas we can now demonstrate that the entire area has significant exploration potential, validated by our new geological model and the success of our contiguous neighbour, the Canadian Malartic Mine, operating quite successfully in the Pontiac sediments. While there have been >40,000m drilled at Parbec there are still many areas to be drilled, the Pontiac has not been the focus of any exploration or drilling at Parbec. The new interpretation does not yet cover the entirety of the Cadillac Break's ~1.8km of strike on the property, or the deepest pierce points on the property (>700m depth). Additional drilling, guided by this new interpretation, is justified, in the Cadillac Break, the Pontiac sediments and the Piché volcanics to the north, each of which host gold mineralization and untested strike. New Geological Model Detail The modelling exercise resulted in a re-orientation of the project base line and uses horizontal plans as the base plan for interpretation purposes. Mineralized lenses interpreted on each level were assembled using sets of sections cut at varying orientations. Mineralized structures oriented obliquely to the Break have been identified with trends ranging from north to north-east and east - west. These newly identified mineralized structures are only partially drilled and are open to the north-east and south-west on the Parbec property. The prior Parbec modelling approach used vertical sections oriented perpendicular to the Cadillac Break. Mineralization was difficult to model and resulted in an interrupted continuity of mineralization and abrupt shifts in grades and widths as the zones were thought to be constrained by lithological units. The new model illustrates cross-cutting mineralized structures to the Cadillac break and lithologies which were not clearly identified in previous interpretations. Simply stated, a slight change in how the drill data is studied has identified new areas with previously unrecognized exploration potential. To date, the new modelling interpretation has identified four target areas along a strike length of about 800 meters for follow-up exploration work. This early-stage work shows that each target area demonstrates continuity of mineralization Click Image To View Full Size from surface down to a depth of about 150 meters along a horizontal distance of approximately 200 meters. Mineralization thickness varies from a few meters to 20 metres or more at the center of lenses. The model is limited by drilling density at depth, as such the targets are open along strike and below a depth of 150 meters. Follow up exploration will be planned with drill holes oriented at differing azimuths to test the continuity for the newly interpreted mineralized zones trending in northerly, East-West and North-East – South-West directions. Click Image To View Full Size Drill section showing southward dip of the Pontiac sediments and interpreted plunge of gold mineralization. This new modelling ties in deeper mineralization intercepts from 2007/2008 drilling (PAR-07-01). Pontiac Sediments Mineralization and Down Dip Mineralization Remodelling of the Pontiac sedimentary contact has identified significant structural complexity, particularly in the north-western half of the Parbec deposit. An area previously referred to as the “diorite splay” is in fact an opening (embayment) of the Pontiac contact, trapping a large mass of diorite, known to be gold bearing with only limited surface prospecting/trenching and drilling. Modelling in the area illustrates an approximate -50° south / southwesterly dip to the mineralized zones, as noted in the last drill program, supporting the interpretation. Current modelling efforts are defining exploration target areas for mineralized zone expansion to the south under the Pontiac contact within embedded felsic intrusions. Previously, mineralization in several deeper holes was difficult to correlate, the new geological model reconciles these deeper holes and offers infill drilling targets. Bulk Tonnage Target Surface expression of the mineralization indicates that the horizontal thickness varies from a few meters to approximately 20 metres. Many new targets are becoming apparent with the new modeling, along different mineralized trends covered by a maximum of 5 meters of overburden. The Company is working to define a surface mineralized footprint amenable to a small-scale open pit outside the CN railway footprint. To date, two areas have been identified in the northwestern part of the property that are amenable to stripping and sampling followed by bulk sampling if warranted. Parbec Surface Water Testing Renforth will commence baseline testing of surface water contained in two holding ponds north of the decline adit and subsurface water within the decline from two wells which access the decline. This is done to collect the environmental baseline data required to permit the dewatering of the decline which terminates within the Cadillac Break at ~100m vertical depth. An unplanned work stoppage occurred in the 1980’s before completion, leaving the end of the decline approximately 40m from the northern contact of the Cadillac Break and the Piché volcanics. This also resulted in no mapping or sampling of the mineralization the decline intersects, including the Pontiac sediments, the Felsite Zone or the Cadillac Break itself. Renforth is working towards dewatering, mapping, and sampling the decline, a process which starts with the collection of required background information to support permit application. Qualified Person Technical disclosure in this press release has been reviewed and approved by Francis R. Newton PGeo, OGQ a “qualified person” pursuant to NI 43-101. About Renforth Renforth is a battery metals area play with the dominant brownfield land position south of the world class Cadillac-Larder Lake Fault ("CLLF") in the prolific Cadillac and Malartic mining camps of Quebec's Abitibi. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth's land position encompasses several areas of interest. Renforth's position is unique in that the both the battery metals mineralization within the Malartic Metals Package ("MMP") and our gold deposit at Parbec are road accessible, with hydro power crossing the properties, in an established and secure mining jurisdiction which regularly ranks as Top 10 (as determined by the Fraser Institute) in the world. Renforth is engaged in the active exploration of the proven MMP battery metals mineralization, working towards a maiden resource statement, and the remodeling of our Parbec gold deposit to incorporate the ~15,000m drilled subsequent to the 2019 effective date of the last MRE. For further information please contact: Renforth Resources Inc. Nicole Brewster President and Chief Executive Officer C:416-818-1393 E: nicole@renforthresources.com #Unit 1B – 955 Brock Road, Pickering ON L1W 2X9 Follow Renforth on Facebook, LinkedIn and Instagram! No securities regulatory authority has approved or disapproved of the contents of this news release. Forward Looking Statements This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided, and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
April 09, 2024 07:00 AM Eastern Daylight Time
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