Renforth Successfully Completes 7 Drill Holes at Parbec
TORONTO, ON / ACCESSWIRE / December 20, 2018 / Renforth Resources Inc. (CSE – RFR) (« Renforth » or the « Company ») is pleased to announce that the December 2018 drill program at Parbec has been completed with 7 holes drilled in 1040 m. Each of the 7 holes intersected mineralization in different lithologies, including a « magnetic diorite » visually similar to the material encountered at the SE extent of the Parbec body. Logging of the core has been completed, selected samples are being cut, bagged and tagged and securely delivered to the lab for assaying, results will be released once available.
Renforth has completed the following 7 drill holes, PAR-18-88 and PAR-18-89 were previously summarized in the press release of 12/04/18.
PAR-18-88 (4975-T-B) drilled to a length of 161.4m in front of PAR-18-84 and behind PAR-17-69. Previously press released zones in PAR-18-84 included 9.45m at 4.66 g/t Au (09/11/18), previously press released zones in PAR-17-69 included 2.4m at 1.03 g/t Au and 9.7m at 0.81 g/t Au (01/23/18). PAR-18-88 was drilled to infill between the holes and extend continuity of mineralization, visual examination of the core shows that mineralized zones were intersected where anticipated, samples have been sent for assay.
PAR-18-89 (5000-T-A) drilled to a length of 150m this hole is in front of PAR-18-70 and PAR-18-85. Previously press released zones in PAR-18-70 included 14.1m of 1.26 g/t Au and 3.7m of 3.16 g/t Au (02/26/18). Previously press released zones for PAR-18-85 included 10.8m of 1.69 g/t Au (09/11/18). PAR-18-89 was drilled to intersect the mineralization seen in PAR-18-70, visual examination of the core concludes that zones similar to those seen in PAR-18-70 were intersected, samples have been sent for assay.
PAR-18-90 (4975-T-A) drilled to a length of 210m this hole was a step out 50m west, parallel to PAR-18-85, designed to test the Partridge Zone intervals in the area including previously released results from PAR-18-85 with 10.8m of 1.69 g/t Au (11/11/18), PAR-18-73 with 32.6m of 1.44 g/t Au (02/26/18) and PAR-18-74 with 9.45m of 4.66 g/t Au (02/26/18). Numerous mineralized zones were intersected in this drill hole, based upon visual examination. Samples have been sent for assay.
PAR-18-91 (4900-T-B) drilled to a length of 93m this hole was a step out 25m to the west and a step back 15m from PAR-18-71 and PAR-18-72, both of which intersected shallow diorite-hosted mineralization. PAR-18-91 successfully intersected several apparently mineralized zones within the targeted depth range and, unexpectedly, encountered the « magnetic diorite ». Samples have been sent for assay.
PAR-18-92 (4850-T-A) drilled to a length of 165m this hole, at the western limit of modern drilling at Parbec, was testing the up-dip extension (an « over cut ») of PAR-10-04’s deep mineralization intercepts obtained by a previous operator, targeting shallower intercepts. This hole successfully intersected mineralization in the hole, samples have been sent for assay.
PAR-18-93 (4800-T-A) was drilled to a length of 114m, collared 50m west of PAR-18-92, designed to test for strike continuity of mineralization to the west, successfully intersected mineralization as assessed visually, samples have been selected and sent for assay.
PAR-18-94 (4900-T-B undercut) the final hole in this program was drilled to a length of 153m, several meters back from the casing for PAR-18-91, drilled to undercut PAR-18-91 in order to test the depth extension, and obtain vertical separation for modelling purposes, of mineralization encountered in PAR-18-91, specifically the « magnetic diorite », or strongly magnetic carbonate-breccia diorite or diabase unit. This hole successfully intersected mineralization as assessed visually in the field, with a vertical separation between the « magnetic diorite » of approximately 60m. Samples have been selected and sent for assay.
This program finished with 1046.8m drilled in 7 holes in total. Samples have been selected and are being cut, bagged, tagged and securely delivered to the lab. It is anticipated that all samples will be submitted prior to Christmas, with assays to be received in the New Year. Assay results will be reported once received.
Renforth is undertaking to raise funds for additional drilling at Parbec in the New Year via a unit offering of common or flow through shares. The units are priced at $0.05, the common share unit carries a full warrant exercisable at $0.10 for 24 months, the flow through share unit carries a half a warrant, a full warrant exercises into a common share for a period of 18 months at a price of $0.12.
December 2018 Drill Plan Map
(To view the full-size image, please click here)
Technical Information in this press release has been reviewed and approved by Brian H. Newton P.Geo, a « qualified person » pursuant to the guidelines of 43-101. Assays referenced in previous drilling are « core length » references only, not true width, and were originally press released on the dates given in brackets. Those samples were selected in the field, cut, bagged, tagged and sealed by the project geologist and delivered personally to the facilities of Laboratoire d’Analyse Bourlemaque to be fire assayed for gold.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 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.