May 5, 2022 – TheNewswire – Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE-9RR) (“Renforth” or the “Company”) is pleased to announce the commencement of the 2022 field season at Surimeau with a comprehensive list of targets with an emphasis on lithium mineralization present on the property, as presented below. At Surimeau Renforth is focussed on the ~20km mineralized Victoria structure, however, the property is sizeable and largely underexplored. Wide ranging ground exploration will be carried out this summer while the recently completed geophysical survey is undergoing interpretation. Upon completion of that interpretation by consulting geophysicists our field geologists and consulting geoscientists will work to plan a 10-20,000m drill program on the Victoria trend to be carried out this Fall.
2022 Field Targets
2021 Stripped Area (Victoria West)
-completion of mapping and drone photography of the 275m strike stripped area which presented consistent surface nickel/cobalt/copper/zinc mineralization in assay. The channel samples from this program were not analyzed for lithium.
Lithium Values in 2021 Drilling
-inspection of core from the 2021 drilling at Surimeau which gave Li values >250ppm
~20km Victoria Mineralized Structure
-prospecting the extent of the ~20km mineralized Victoria structure which is proven mineralized at its western end (Victoria West) and its eastern end (Colonie) with specific attention paid to the utms for the coincident EM anomalies, looking for outcropping mineralization. The extent of the Victoria structure between Victoria West and Colonie is entirely unexplored.
Lithium and Pegmatite Exploration
-Renforth will visit known lithium and pegmatite occurrences at Surimeau, including at Colonie where Renforth sampled surface Li of 191 ppm in a prospecting grab sample taken for survey purposes. This area will be revisited, and other new areas investigated, with the purpose of lithium exploration.
Scandium/REE Geochemical Data Exploration
-Renforth will follow up on various geochemical anomalies available on SIGEOM in order to ground truth these, determine if they are pegmatites and/or REE occurrences. This includes a highly anomalous scandium value in the NW portion of the property which is 3 times higher than any other scandium value in the dataset, at this location the REEs dysprosium and neodymium also give unusually high values. In addition to this unique occurrence other geochemical anomalies at Surimeau will be investigated including the Lac Surimeau diorite, which is associated with known gold occurrences at Surimeau.
-the southern end of Surimeau forms the northern part of a property previously bulk sampled for uranium just outside of the current Surimeau property boundary. In the interest of fully investigating the potential of Surimeau prospecting will be carried out open to the presence of uranium.
Red Cloud to Provide Corporate Finance and Marketing Services
Renforth would also like to announce that Red Cloud Financial Services Inc. (“Red Cloud”) has been retained for corporate finance and marketing purposes for an initial term of one year. Red Cloud will be issued 2,000,000 options to purchase shares of Renforth at a price of $0.065 per share. The options will vest as follows: 666,667 vest immediately; 666,667 vest on August 28, 2022; and 666,666 vest on December 28, 2022.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a “qualified person” pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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Renforth wholly owns the ~260 km2 Surimeau District Property, which hosts numerous areas of polymetallic and gold mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. In addition to this the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.
In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.
Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
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.