Renforth Reports Additional Parbec Assays and Drill Program Update

Renforth Resources PR
Published on: December 9, 2020

DECEMBER 9, 2020, Renforth Resources Inc. (CSE – RFR) (“Renforth” or the “Company”) is pleased to update shareholders on the receipt of assays and the ongoing drill program at our flagship asset, the wholly owned Parbec Open Pit Constrained Gold Deposit located in Malartic Quebec, on the Cadillac Break and adjacent to the Canadian Malartic Open Pit Gold Mine.

Renforth has received additional assays, including the interval of 1.48 g/t Au over 6.55m, which completes the reporting on PAR-20-101, the second drill hole in the program, and cover the first 39.5m of PAR-20-102. The table below includes the previously released beginning of PAR-20-101 and the new results, notated appropriately.

PAR-20-101 Highlights

Drillhole From (m) To (m) Length (m) Au g/t
PAR-20-101* 7.8 21 13.2 1.09
Including* 9 17 8 1.65
which includes* 11 13.6 2.6 3
and includes* 14.35 17 2.65 1.06
PAR-20-101* 53.6 62.75 9.15 0.56
Includes* 61.2 62.75 1.55 1.44
PAR-20-101 232.5 236.35 3.85 0.62
PAR-20-101 245.5 260.85 6.55 1.48

*denotes previously (11/12/20) press released result

 

PAR-20-102 Highlights (received to date)

Drillhole From (m) To (m) Length (m) Au g/t
PAR-20-102 34 35.5 1.5 0.95

Interpretation of Results

PAR-20-101 was drilled north, as seen in the map below, to test for cross-cutting structures, oblique to the Cadillac Break. The bulk of the drilling at Parbec, oriented perpendicular to the Cadillac Break, could fail to intersect oblique structures, which would run alongside the drilling.  PAR-20-100 was also drilled in this manner, as seen in the map below. Both of the north drilled holes gave us mineralization which will be interpreted in conjunction with the 3d modelling component of the Q2 2021 Resource Estimate update for Parbec.

The interval in PAR-20-102 is interesting as it comes from pyrite within the sediments on the south side of the Cadillac Break, near surface and outside of the open pit, at a shallow depth.

Current Parbec Drill Program

At end of December 8th dayshift Renforth has drilled 8800m in 24 complete holes, the 25th hole is still drilling, with assays received for 736.2m to date. Samples have been submitted up to and including PAR-20-114, with the balance awaiting splitting. Due to the delay in receiving assay results Renforth has elected to switch assay laboratories, commencing deliveries to the new lab late last week and moving samples which had not entered the processing stream to the new lab also.  It is anticipated this will cause a more continuous and timely delivery of assay results, with the first results expected from the new lab at the end of the month. In the interim the original lab still has material to process.  This move will result in results coming in out of order for a brief amount of time. In order to help shareholders track which hole is which, the drill program plan-view map will be updated on the website, and can be used with the drillhole spreadsheet, which will also be updated, to track which hole is which as they are reported upon.

Parbec 2020 Fall Drill Program

Renforth Parbec钻探

Parbec Fall 2020 Drill Hole Spreadsheet

DDH Grid E Grid N Dip ° Az ° TN Rationale (including prior drill results targeted) Length
PAR-20-100 5440 190 -45 360 Test for oblique structures near “settling pond diorite” structure (PAR-86-06: 5.98g/t over 12.5m; PAR-17-63: 1.93g/t over 14.05m) 405.7
PAR-20-100A 5440 190 -45 360 Test for oblique structures. Hole was stopped at 11.3m due to shallow casing and restarted. 11.3
PAR-20-101 5500 227 -45 360 Test for oblique structures near “settling pond diorite” structure (PAR-86-06: 5.98g/t over 12.5m; PAR-17-63: 1.93g/t over 14.05m) 291
PAR-20-102 5575 120 -55 34 Undercut of PAR-87-24 (1.62g/t Au over 4.88m) 504
PAR-20-103 5625 226 -45 360 Test for oblique structures in #2 Zone around PAR-11-04 (1.28g/t over 12.0m & 1.95g/t over 9.0m) 276
PAR-20-104 5250 80 -55 34 Undercut PAR-86-04 (0.96g/t over 15.4m), and overcut PAR-07-01 (1.08g/t over 14.2m) 600
PAR-20-104A 5250 80 -55 34 undercut PAR-86-04, and overcut of PAR-07-01 66
PAR-20-105 5725 50 -65 34 Undercut of PAR-10-05 (3.31g/t over 19.4m & 2.23g/t over 9.9m) 834
PAR-20-106 5100 70 -50 34 deep undercut of Camp Zone 438
PAR-20-107 5200 265 -45 34 close to PAR-87-17 (10.05g/t over 3.05m) in Camp Zone 204.65
PAR-20-108 5175 260 -47 34 undercut of PAR-87-30 (3.46g/t over 6.4m) in Camp Zone 195
PAR-20-109 5150 270 -50 34 close to PAR-87-16 (5.27g/t over 4.88m) in Camp Zone 174
PAR-20-110 5225 220 -50 34 close to PAR-87-40 (6.32g/t over 5.34m) in Camp Zone 280
PAR-20-111 5250 220 -45 34 close to PAR-87-19 (4.27g/t over 1.22m) in Camp Zone 258
PAR-20-112 5300 225 -50 34 close to PAR-88-44 in Camp Zone 294
PAR-20-113 5125 285 -50 34 Strike extensions from PAR-93-55 (7.23g/t over 5.91m) and PAR-93-56 (2.53g/t over 9.06m) 131
PAR-20-114 5250 80 -45 34 Undercut PAR-86-04 (0.96g/t over 15.4m), and overcut PAR-07-01 (1.08g/t over 14.2m) 449
PAR-20-115 5200 265 -60 34 Undercut of PAR-20-107 258
PAR-20-116 5050 200 -65 34 Undercut of PAR-18-74 (2.46g/t over 10.5m & 1.48g/t over 6.7m) 293.5
PAR-20-117 5525 181 -60 34 Undercut of PAR-17-64. Hole lost at 30.5m, hit the ramp. 30.5
PAR-20-118 5525 90 -50 34 Undercut of PAR-17-64 (1.15g/t over 15.35m) 495
PAR-20-119 6025 290 -45 34 Test east strike ext of Discovery Zone and “magnetic diorite” structure (e.g. PAR-19-95: 2.98g/t over 3.35m & 17.55g/t over 1.15m) 275
PAR-20-120 5725 140 -50 34 below PAR-86-09 which was too short.  Overcut of PAR-10-05 (3.31g/t over 19.4m & 2.23g/t over 9.9m) 432
PAR-20-120 A 5725 140 -50 34 below PAR-86-09 which was too short.  Overcut of PAR-10-05. Abandoned 15
PAR-20-121 5725 140 -40 34 Overcut of PAR-20-120 279
PAR-20-122 5675 160 34 -50 Undercut of PAR-11-05 (1.27g/t over 16.5m) in Discovery Zone 383
PAR-20-122A 5675 160 34 -50 Undercut of PAR-11-05 in Discovery Zone. Abandoned 21
PAR-20-123 5800 147 -45 34 Test deep historic interval in DDH H-4 (1.79g/t over 19.81m) 454
PAR-20-124 5900 140 -50 34 Deep undercut of Discovery Zone and “magnetic diorite” e.g. PAR-18-78 (3.64g/t over 19.3m) 465+

The ongoing drill program at Parbec will break for the holidays the end of next week, with drilling resuming on the fully funded 15,000m program in the New Year. With the expenditure to date on this program (~50% of the anticipated $1,200,000 budget paid for) Renforth’s current treasury, comprised of cash and securities, sits at a value of ~$7,700,000. Renforth is well funded to continue exploration in the New Year, planned to include Parbec, with drilling and a resource update, as well as Surimeau and Nixon-Bartleman, Renforth will be raising no additional funds at year end.

Sample results reported on in this press release were logged and split in the field, bagged, tagged and sealed, then delivered personally by project geologists to ALS Canada Ltd. in Val d’Or, Quebec. The samples were assayed using fire assay for gold with a gravimetric finish.

Francis R. Newton P.Geo (OGQ# 2129) a “qualified person” pursuant to the requirements of NI 43-101, has reviewed and approved the technical disclosure in this press release.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393

E: [email protected]

#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.

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