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PICKERING, Ontario, October 16, 2024 – TheNewswire – 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 on significant advances at two of its properties. At the Beaupré project, a soil sampling program has revealed a significant gold anomaly of 0.37g/t Au in a soil sample. At Renforth’s wholly owned Parbec gold deposit, follow up soil sampling has been completed, and prospecting has identified and sampled bedrock at the site of a previously detected 0.28g/t Au soil anomaly. These findings represent significant progress in Renforth’s ongoing exploration efforts across its multi-commodity mineral portfolio. Additional details on both programs follow.
“We are encouraged by our continued exploration success including the recent gold anomaly discovery at Beaupré and the promising visual results from our follow-up work at Parbec. These findings again demonstrate the potential of our properties, continued success in identifying gold mineralization, particularly in underexplored areas, speaks to the immense opportunity ahead. We remain committed to advancing our gold assets, both Beaupré and Parbec, at the same time as we focus on derisking and developing our nearby Victoria critical minerals project” state Nicole Brewster, President and CEO of Renforth.
Beaupré Gold in Soil Anomaly
Beaupré, situated in the northeastern area of the Malartic Metals Package, is located approximately 1.7km south and west of the Cadillac Break. The former Pan-Canadian Mine complex is located approximately 2.5km to the east, the former Lapa Mine is approximately 5km to the north. While this geological setting suggests potential for gold mineralization, the area is largely unexplored and covered by a thin layer of overburden.
Renforth’s initial exploration efforts at Beaupré led to the discovery and subsequent stripping of copper and silver mineralization at surface. Follow-up soil sampling has revealed the presence of additional metals, with gold being the most notable. Several soil samples yielded gold values, with the highest assaying at 0.37 g/t Au.
Given the proximity to the Cadillac Break, a major gold-bearing structure, Renforth considers these results highly significant and worthy of further investigation. The company plans to conduct additional exploration work at Beaupré in the coming spring, as snow will soon be on the ground.
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Parbec Gold Deposit Prospecting and Soil Sampling
Renforth has completed a targeted follow-up soil sampling program, focusing on areas of interest identified in its previous program. This work included prospecting the area of the 0.28g/t Au soil sample, located in the sediments beyond the scope of any previous exploration activities on the property. Renforth also completed infill sampling in proximity to other locations that had previously shown gold anomalies in soil, as shown in the map below.
Parbec Follow Up Soil Sample Locations
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Parbec has several settings for gold that are underexplored when compared to the Cadillac Break, which runs diagonally across the centre of the property from the northwest to the southeast and hosts the Parbec gold deposit. Gold mineralization has been identified north of the Break, in thick bands of Piché volcanics. Renforth’s prospecting in this area has yielded gold occurrences, and limited historical drilling by previous operators has intersected gold mineralization. This area remains largely unexplored.
Recent geological interpretation work by Renforth has revealed that gold mineralization extends beyond the Cadillac Break into the Pontiac sediments, which comprises the southern part of the Parbec property. This new interpretation suggests that the known mineralized zones within the break exhibit a southward dip, continuing beneath the Pontiac sediments. This makes the area south of the Break highly prospective for dip extensions of known gold bearing structures, expanding the potential for gold mineralization and opening up new exploration targets in the southern portion of the property.
Additionally, a comprehensive structural review has identified a network of east-west and northeast-southwest trending shears and structures, possibly representing strike-slip faults that intersect the Cadillac Break and extending into the sediments to the south. These structures are mineralized in the sediments; however, their true extent is unknown. Intrusive diorite bodies, known to be mineralized within the Break are also present within the sediments at Parbec. Gold-bearing quartz-carbonate fracture fills, commonly found within the diorites and sediments, are also identified south of the break on the property.
Targeted areas of current exploration efforts include:
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Margins of the diorite complex within the Pontiac Group
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East-west structures (known to be mineralized in the Piche Group) which are now known to continue well into the Pontiac Sediments
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Structures related to the Cartier Zone gold-bearing granodiorite (1km to the south of Parbec) on the adjacent property
Results from the most recent soil sampling and prospecting at Parbec will be released once available.
Francis Newton P.Geo OGQ, a “qualified person” pursuant to the criteria of NI43-101, has reviewed and approved the technical information contained in this press release.
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No securities regulatory authority has approved or disapproved 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.
Company Contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
416-818-1393
#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9
Corporate Communications:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]
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