Renforth Intersects 3.64 g/t Au over 19.3m in Drilling at Parbec and Identifies New Gold Target
Toronto, Ontario – Renforth Resources Inc. (CSE – RFR) (“Renforth” or the “Company”) is pleased to announce the most recent Parbec drill results, including an intersection of 3.64 g/t Au over 19.3 m in PAR-18-78 in Chlorite Schist and Diorite, which includes 4.2m grading 11.7 g/t Au in a Magnetic Diorite body. This Magnetic Diorite is also seen in PAR-18-77, the first hole in this recent program and the most easterly drilled to date, and is visually similar to a mineralized diorite sill in PAR-17-63 which graded 9.42 g/t Au over 0.9m, part of a wider interval of 2.34 g/t over 11.05m (between 44.75 and 55.8m depth), drilled in December and previously press released, located 450m to the west of PAR-18-78.
- Extended Gold Mineralization: Renforth drilled 19 holes at Parbec since December 2017. Each of these holes returned gold values, extending the mineralization outside of the NI 43-101 resource statement model.
- New Gold Target Identified: Newly identified Magnetic Diorite mineralized body located from the central part of the resource area to the eastern end of current drilling, a distance of ~450-500m. Higher assays may correlate with brecciated zones within the diorite welded with quartz and albite.
- The Magnetic Diorite zone in PAR-18-78 appears to line up with a zone seen in 1940’s drilling where a “Grey Porphyry” gave several assays ◦ over 1 oz/ton. These results are historic in nature and not to be relied upon.
- Unsampled core, from a unit logged as similar to the Magnetic Diorite and ~25m to the east, previously drilled in hole PAR-10-06, is available to Renforth and will be sampled and assayed.
- In an initial review of existing data it is apparent PAR-86-06 intersected the Magnetic Diorite with an assay of 1.97 oz/t Au over 2.5 feet, drilled, logged and sampled by Brian H. Newton P.Geo. In the resource modeling process this stood out as a higher than usual, unique gold occurrence, the significance of the lithology was not realized at the time.
Magnetic Diorite Significance
Magnetic Diorite identified at Parbec corresponds to iron rich diorite intrusions documented in gold deposits previously mined in the Malartic camp. The former Barnat and East Malartic mines, part of the current adjacent Canadian Malartic Mine property, totalled a production of 26.4 million tonnes for 4 Moz at an average grade of 4.7 g/t gold (Source: SIGEOM), principally developed inside the Piché Group, in a setting like the Parbec mineralization.
Iron rich diorite can be typically called an altered rock with a composition usually observed within gold mineralization zones that includes biotite, tourmaline, pyrite, and magnetite.
The relationship between the gold system, a particular type of intrusion and the mineralogical composition creates a strong exploration vector at Parbec. Extensive quartz veining is not expected from the diorite lithology, we are targeting fractures and veinlet control inside a disseminated pyrite environment, which could form a continuous lens.
The next steps at Parbec will include data integration and interpretation, this will focus on a better understanding of data and information between historic drill logs, current drill core, geophysical and structural data, mineralogy and geochemistry in order to identify the extent of the newly recognized magnetic diorite body and formulate future exploration targets..
Parbec Drill Results PAR-18-77 – PAR-18-81
Below are the highlights of assay results for PAR-18-77 (which has been previously released) through to PAR-18-81.
|DDH||From m||To m||Width||Au g/t||Litho|
|PAR-18-77||14.2||17.85||3.65||0.45||Porph, kspar alt|
|PAR-18-77||100.5||103.5||3||0.61||Porph, kspar alt|
|PAR-18-77||126||129.1||3.1||0.61||magnetic black diabase lenses within porph|
|PAR-18-77||147.5||156.5||7.5||1.104||Breccia zone within schist|
|PAR-18-77||172.8||173.5||0.7||2.99||silicified, magnetic diorite zone in schist|
|PAR-18-77||181.7||184.7||3||1.17||silicified, magnetic diorite zone in schist|
|PAR-18-77||270.8||271.8||1||2.01||Tuff + Tourmaline Veining|
|PAR-18-78||11||11.6||0.6||7.2||Porph contact k-spar altered|
|PAR-18-78||23.6||25.1||1.5||1.9||Greywacke / felsite|
|PAR-18-78||144.9||164.2||19.3||3.64||Chlorite Schist and Diorite|
|including||151.7||164.2||14||4.76||Chlorite Schist and Diorite|
|or including||154.7||164.2||8||6.34||Chlorite Schist and Diorite / magnetic diorite|
|or including||160||164.2||4.2||11.7||Magnetic Diorite|
|PAR-18-78||237||238||1||0.78||Sil Magnetic Diorite within schist|
|PAR-18-79||13.1||25.2||12.1||1.34||Diorite, Felsite and porph dio|
|including||14.6||21.4||6.8||1.54||Diorite and Felsite|
|PAR-18-80||47.9||49||1.1||1.5||Felsite/Chert Welded zone|
|PAR-18-80||123.1||124.6||1.5||0.5||Chlorite schist with diorite lenses|
|PAR-18-81||215.5||216.5||1||0.56||Iron formation in mafic volcanics|
Lengths and widths referred to in this press released are as measured in core, not true widths. Samples were selected, cut, bagged and tagged in the field under supervision, delivered to Bourlamaque Assay Laboratory securely and fire assayed for gold.
The technical information in this press release has been reviewed and approved by Francis Newton P.Geo, OGQ #2129, a “qualified person”.
Martin Demers P.Geo, OGQ #770 is a “qualified person” and has provided, reviewed and approved the technical disclosure in the section “Magnetic Diorite Significance” of this press release.
Brian H. Newton P.Geo is a “qualified person” and has reviewed and approved technical disclosure in this press release generally and specifically relating to the reference to PAR-86-06.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#200 – 65 Front St. E, Toronto, ON M5E 1B5
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.