$RFHRF $RFR.CN Renforth Resources Inc. Commences P
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Posted On: 11/29/2024 9:52:11 AM
$RFHRF $RFR.CN Renforth Resources Inc. Commences Parbec Gold Deposit Resource Update
https://www.thenewswire.com/press-releases/1k...pdate.html
PICKERING, Ontario – TheNewswire - Nov. 29, 2024 -- Renforth Resources Inc. (CSE: RFR) (OTCQB: RFHRF) (FSE: 9RR) (“Renforth” or the “Company”), an active mineral exploration company engaged in the exploration and development of multi-commodity mineral properties in Canada, today advises shareholders of several new initiatives at our Parbec Gold Deposit in Malartic, Quebec. This includes a resource update, the start of the permitting process to dewater the underground access to the deposit and TOMRA testing of mineralized and non-mineralized material from Parbec.
Renforth President and CEO Nicole Brewster said: "Each of our new initiatives at Parbec is intended to increase our deposit knowledgebase towards a future production decision. Our existing, outdated 43-101 resource encompasses only a portion of the property and uses only part of our own drilling, and none from the 1980s or 1990s. Our geological model after the resource demonstrates a new understanding of gold at Parbec occurring in the Pontiac, like what our neighbor has also subsequently proven with the development of their Odyssey deposit in the Pontiac sediments. Underground access for sampling and mapping and the testing TOMRA technology to reduce waste and focus on our higher-grade gold at Parbec. If successful, these steps add value and move us along on Parbec's production path."
NI43-101 Update
Renforth has retained SGS Canada, specifically geoscientists within the Blainville, Quebec office, to author a Mineral Resource Estimate and NI43-101 Technical Report for Parbec. This new report will include the ~15,000m of drilling completed by Renforth after Dec. 2019, the historic drilling excluded from the Dec. 2019 MRE which Renforth has validated, and our current geological model, supported by drilling and recent surface exploration results. None of those preceding elements were in the last resource estimate for Parbec. Of course, the gold and silver price environment is quite different today than it was in December 2019 when the Parbec in-pit and out-of-pit resource portions were calculated using a USD 1,450 gold price, significantly lower than the prevailing current market. Silver, also known to be present at Parbec, has not been sufficiently tested to be included in a resource statement.
Upon receipt of a new estimate and technical report Renforth will issue the appropriate press release, it is anticipated this will be in late Q1 2025.
Underground Access Dewatering
Parbec has an underground decline that was blocked and allowed to flood when construction ceased unexpectedly in the 1980's. This decline was driven under the supervision of Norman Brewster P.Geo, a technical advisor to Renforth, and targeted the tuff horizon of the Camp Zone for a bulk sample to be processed at the then-operating Augmitto Project. Development stopped before this could be completed for unrelated corporate reasons. The ~400m long decline terminates at approximately 100m vertical depth, having progressed through what is now known to be gold-bearing rock without any sampling or mapping having taken place due to the unexpected operation stoppage. Valuable new data will be immediately available if Renforth is successful in obtaining a permit to dewater. Explo-Logik of Val d'Or Quebec has been retained to manage the permitting process.
TOMRA Testing
Following our success demonstrating the ability to remove waste and concentrate the grade of mineralized material at our nearby Victoria nickel/zinc project, Renforth has elected to test mineralized and non-mineralized material from Parbec to determine whether we will be able to remove waste material and concentrate the gold at this project. Parbec, in addition to high-grade gold within the Cadillac Break, has a significant volume of low-grade material, which becomes more attractive if we can reduce the waste component. A selection of test samples will be shipped to Germany for testing.
Current Field Operations
Renforth has found a week where our geoscientists, having satisfied other obligations, are now free to get out in the field on our behalf. While snow has begun accumulating in the north, it is relatively late in arriving and not yet too deep. Upon completion of the fieldwork, Renforth will update shareholders regarding our team's accomplishments in this little "bonus window" of discovered field time.
https://www.thenewswire.com/press-releases/1k...pdate.html
PICKERING, Ontario – TheNewswire - Nov. 29, 2024 -- Renforth Resources Inc. (CSE: RFR) (OTCQB: RFHRF) (FSE: 9RR) (“Renforth” or the “Company”), an active mineral exploration company engaged in the exploration and development of multi-commodity mineral properties in Canada, today advises shareholders of several new initiatives at our Parbec Gold Deposit in Malartic, Quebec. This includes a resource update, the start of the permitting process to dewater the underground access to the deposit and TOMRA testing of mineralized and non-mineralized material from Parbec.
Renforth President and CEO Nicole Brewster said: "Each of our new initiatives at Parbec is intended to increase our deposit knowledgebase towards a future production decision. Our existing, outdated 43-101 resource encompasses only a portion of the property and uses only part of our own drilling, and none from the 1980s or 1990s. Our geological model after the resource demonstrates a new understanding of gold at Parbec occurring in the Pontiac, like what our neighbor has also subsequently proven with the development of their Odyssey deposit in the Pontiac sediments. Underground access for sampling and mapping and the testing TOMRA technology to reduce waste and focus on our higher-grade gold at Parbec. If successful, these steps add value and move us along on Parbec's production path."
NI43-101 Update
Renforth has retained SGS Canada, specifically geoscientists within the Blainville, Quebec office, to author a Mineral Resource Estimate and NI43-101 Technical Report for Parbec. This new report will include the ~15,000m of drilling completed by Renforth after Dec. 2019, the historic drilling excluded from the Dec. 2019 MRE which Renforth has validated, and our current geological model, supported by drilling and recent surface exploration results. None of those preceding elements were in the last resource estimate for Parbec. Of course, the gold and silver price environment is quite different today than it was in December 2019 when the Parbec in-pit and out-of-pit resource portions were calculated using a USD 1,450 gold price, significantly lower than the prevailing current market. Silver, also known to be present at Parbec, has not been sufficiently tested to be included in a resource statement.
Upon receipt of a new estimate and technical report Renforth will issue the appropriate press release, it is anticipated this will be in late Q1 2025.
Underground Access Dewatering
Parbec has an underground decline that was blocked and allowed to flood when construction ceased unexpectedly in the 1980's. This decline was driven under the supervision of Norman Brewster P.Geo, a technical advisor to Renforth, and targeted the tuff horizon of the Camp Zone for a bulk sample to be processed at the then-operating Augmitto Project. Development stopped before this could be completed for unrelated corporate reasons. The ~400m long decline terminates at approximately 100m vertical depth, having progressed through what is now known to be gold-bearing rock without any sampling or mapping having taken place due to the unexpected operation stoppage. Valuable new data will be immediately available if Renforth is successful in obtaining a permit to dewater. Explo-Logik of Val d'Or Quebec has been retained to manage the permitting process.
TOMRA Testing
Following our success demonstrating the ability to remove waste and concentrate the grade of mineralized material at our nearby Victoria nickel/zinc project, Renforth has elected to test mineralized and non-mineralized material from Parbec to determine whether we will be able to remove waste material and concentrate the gold at this project. Parbec, in addition to high-grade gold within the Cadillac Break, has a significant volume of low-grade material, which becomes more attractive if we can reduce the waste component. A selection of test samples will be shipped to Germany for testing.
Current Field Operations
Renforth has found a week where our geoscientists, having satisfied other obligations, are now free to get out in the field on our behalf. While snow has begun accumulating in the north, it is relatively late in arriving and not yet too deep. Upon completion of the fieldwork, Renforth will update shareholders regarding our team's accomplishments in this little "bonus window" of discovered field time.
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