(via TheNewswire)
Prospecting delivers two new locations of surface nickel polymetallic (nickel/cobalt/zinc/copper) mineralization, similar to that seen within the Victoria system, located north of the Lalonde system and south of the Victoria system at Surimeau.
Elevated lithium is present in lithium/cesium/tantalum fractionated pegmatites and in the Pontiac sediments where elevated lithium/rubidium/cesium appears to indicate proximity to blind pegmatites and may represent the mobility of lithium, offering an exploration vector.
Victoria drilling has commenced, two holes are completed for a total of 561m with mineralization successfully intersected in both infill holes, positive results definitively extending mineralization across a drilling gap.
Renforth is hosting a webinar with an overview presentation of the Company's assets, an update on current exploration activities and a live QA session Thursday Nov. 23 at 7pm EST
Renforth will attend minesandmoney @ Resourcing Tomorrow Nov. 28-30, presenting our Surimeau Ni polymetallic property and our Parbec gold deposit to interested investors, potential partners and/or asset purchasers
At the request of retail shareholders Renforth is doing a small financing
Pickering ON –TheNewswire -November 13, 2023 -Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR)(“Renforth” or the “Company”) would like to update shareholders on results from the August/September 2023 mapping and prospecting work undertaken on Renforth's wholly owned ~330 sq. km Surimeau District property in Quebec, known to host several occurrences of nickel polymetallic "Outokumpu style" mineralization over >29 km of strike as well as numerous pegmatites prospective for lithium, with elevated lithium also occurring in the Pontiac sediment host rock.
Polymetallic Mapping/Prospecting Results
Mapping and prospecting were focused on 4 distinct areas within the Surimeau property.
Lac Beaupré Area- follow up on previously compiled and interpreted soil survey data with mapping and prospecting around the southwest shore of Lac Beaupré (north limb of the Lac Surimau granitoid) where data indicated zinc signatures in till, no notable outcrop was found, except a few instances of granite, this prospect is inconclusive.
Victoria West Area- continuation of mapping and prospecting the western end of the Victoria ultramafic complex, this yielded mineralization on surface which included 1510 ppm nickel in a grab sample from pyrrhotite bearing ultramafics, several mineralized showings from this program are beyond the reach of prior drilling in this area.
LaLonde Northeast Area- unexplored coincident magnetic and conductive highs, along with copper and cobalt values in till data from the 1970/80s, delivered exposure of an albitized shear zone and graphitic mudstones over 135m within a clearcut area. This shear zone, occurring in the northern part of a ~2km long unexplored magnetic feature, is similar to the shear zones which are exposed at both Lalonde and Victoria. The subsequently staked claims at Surimeau cover the western end of this magnetic feature. In addition to elevated values in each lithology, grab samples from the graphitic mudstones in this area gave highlights of 300 ppm copper and 1100 ppm zinc.
Fouillac- south of the Victoria horizon the Fouillac area of interest gives a magnetic signature in government surveys of a "string of pearls” and has seen only poorly documented cursory exploration more that 50 years ago, however, Renforth has previously visited the area and observed sulfides on surface within a shear structure. Mapping and prospecting in this program resulted in a highlight of 1250 ppm nickel in a grab sample from a sulphidic serpentinite, among other results.
This program identified new battery metals mineralization on surface north of Lalonde and south of Victoria, along with outside of the drilled area at the western end of Victoria, all positive developments as Surimeau is subjected to comprehensive exploration for the first time. It has to be noted that grab samples, taken during initial prospecting, are picked by the geologist in the field, they are preferential by their nature and not representative of a broader whole.
Pegmatite/Lithium Mapping/Prospecting Results
The Decelles Batholith is a large granitic batholith exposed along the southern boundary of the Surimeau Property. Granitic batholiths may be the parental granites to pegmatite dykes. Elevated rare-elements such as Li, Cs and Ta are found in the most fractionated pegmatites.
Numerous granitic pegmatites are exposed along the southwestern and southern parts of the Surimeau property, especially along the Decelles granite-Pontiac metasedimentary contact. These pegmatite dykes often intrude into amphibolized Pontiac sediments. The summer 2023 prospecting program identified 4 grab samples with greater than 200 ppm Li including a high value of 990 ppm Li (sample 7357). All four of these samples were taken from Pontiac sediments in direct contact with granite/pegmatite. These samples appear to also have elevated Rb and Cs values. Elevated Li, Rb and Cs values in the mica-rich Pontiac metasediments at Surimeau may indicate proximity to lithium pegmatites and may represent distal metasomatism.
Granitic pegmatites in the southern part of the Property have coarse-grained green muscovite and contain anomalous Ta-Nb-Sn and Rb contents. Some of the granitic pegmatites also contain lithium mineralization indicator minerals: tourmaline, garnets, and white K-feldspar. These are characteristics of a fractionated granitic melt which could evolve to become a lithium pegmatite and will be used to vector to exploration targets.
Samples taken in this prospecting were grab samples, preferential by nature and not representative of the entirety of the property.
Samples taken during this mapping and prospecting program were selected, bagged, and tagged in the field, and personally delivered to the facilities ofALS Val’ d’Or for test methods ME-ICP81 and ME-ICP41a.ALS facilities conform to the requirements of the ISO/IEC 17025 Standard.
Ongoing Victoria Drill Program Update
The two first holes of this drill program, SUR-23-47 and SUR-23-48, have now been completed for a total of 561m of the planned 4000m drilled to date. The third hole, SUR-23-49, is currently underway. Hole 48 is collared approximately 90m west of hole 47. The two holes completed so far are near the eastern end of the ‘Main Victoria’ area and were drilled to fill a gap in previous drilling conducted by Renforth in 2021. The two holes follow approximately the same lithological sequence – Pontiac Sediments, followed by massive ultramafics and then Pontiac sediments at the end of each hole. The deeper contact between the ultramafics and underlying sediments in these holes is a well-mineralized contact zone that contains zones of both albite-silica alteration and calc-silicate alteration. Mineralization is present in the form of fine to coarse sulfide stringers, nodules, clots, and disseminations of pyrite-pyrrhotite-sphalerite (Zn)-chalcopyrite (Cu) and pentlandite (Ni).Additionally, there are occasional narrow beds of well-mineralized graphitic mudstone within the sediments approaching the ultramafics. The mineralized zones described above are approximately 2m wide in SUR-23-47 and 19m wide in SUR-23-48, indicating that the main mineralized zone intersected in these holes is widening to the west.
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Renforth Webinar
Renforth is hosting its own webinar where Nicole Brewster, President and CEO will present an overview of Renforth to interested viewers on Thursday Nov. 23 at 7pm. There is no cost to attend, upon registration athttps://events.ftmig.ca/follow-the-money-investor-gr/Renforth-Resources-Company-Update-and-Overviewa link will be sent.
Financing
Renforth is undertaking a small critical minerals flow through financing at the request of shareholders with an effort to raise, on a non-brokered basis, $500,000 through the sale of shares, on a flow through basis, at $0.04 per unit, with each unit comprised on one flow through share and one half of a warrant. A full warrant is exercisable to purchase a common share at a price of $0.08 per common share for a period of 18 months. At the same time Renforth will offer up to $150,000 of common share units at $0.035 per unit, with each unit consisting of one common share and one warrant, the warrant can be exercised to purchase a common share at a price of $0.05 for a period of 24 months. Proceeds from the sale of securities will be used for ongoing exploration in Quebec, on Renforth's Surimeau property, specifically working towards a maiden resource with the ~2km of strike in central Victoria currently being drilled, and general working capital purposes. This is a notification to thereader, not a solicitation or an effort to sell securities. Anyone with questions on this matter should communicate with Renforth via the contact information below or consult with their financial advisor.
About Renforth
Renforth is a battery metals area play with the dominant brownfield land position south of the world class Cadillac-Larder Lake Fault ("CLLF") in the prolific Cadillac and Malartic mining camps of Quebec's Abitibi. Offering exposure to gold, zinc, nickel, copper, cobalt and more, including lithium, Renforth's land position encompasses several areas of interest.
Renforth's position is unique in that the both the battery metals mineralization at Surimeau and our gold deposit at Parbec are road accessible, with hydro power crossing the properties, in an established and secure mining jurisdiction which regularly ranks as Top 10 (as determined by the Fraser Institute) in the world.
Renforth is engaged in the active exploration of the proven Surimeau battery metals mineralization, working towards a maiden resource statement, and the remodeling of our Parbec gold deposit to incorporate the ~15,000m drilled subsequent to the 2019 effective date of the last MRE.
Technical disclosure in this press release has been reviewed and approved by Francis R. Newton PGeo, OGQ a “qualified person” pursuant to NI 43-101.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
C:416-818-1393
E: nicole@renforthresources.com
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
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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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