Renforth Resources advancing large scale battery metals prospect in Quebec backed by its Parbec gold deposit

• Robust portfolio and focused on mining-friendly Quebec
• District scale battery metals prospect, backed by Parbec gold asset
• Funded for the foreseeable

What Renforth Resources does:

Renforth Resources Inc (CSE:RFR) (OTCQB:RFHRF) (FRA:9RR) is a Quebec-focused small-cap explorer, which owns 100% of the flagship Parbec gold project – one of the last un-mined gold deposits on Canada’s prolific Cadillac Break fault.

The asset boasts a 2020 assessed open pit gold resource of 104,000 ounces of higher confidence indicated gold at a grade of 1.78 grams per ton (g/t) and 177,000 ounces of inferred, also at 1.78 g/t. The Toronto-based company is currently updating the resource estimate, to include over 15,000 metres (m) of new drill data, which it aims to release in June or July this year.

Parbec sits next to the Canadian Malartic Mine (CMM), which is Canada’s largest gold mine, currently an open pit operation but, which is pivoting to underground, and will need ounces to process while making the shift, according to the firm.

Renforth also holds 100% of the brownfield 215 square kilometre (sq km) Surimeau District  polymetallic project, where a potential district-scale volcanogenic massive sulphide (VMS) nickel-rich discovery of over around 20 km, has been confirmed.

The property boasts good access and numerous areas of interest, both VMS targets such as the 5 km Victoria West prospect, which Renforth is currently focused on, as well as gold prospects and other metals. Agnico Eagle’s flagship LaRonde mine, exploiting a gold-rich VMS deposit, lies just 20 km to the north.

The company also, in the portfolio, has the Malartic West property, which spans 53 sq km adjacent to the western border of the CMM and the site of a surface copper/silver discovery traced over 200 metres.

It also owns the Nixon-Bartleman property in Ontario on the Destor-Porcupine Fault, with gold on surface over 500m of strike, which remains open, and the Denain-Pershing project – a large, mineralized land position east of Val d’Or Quebec, which is currently optioned to O3 Mining.

How is it doing:

On March 25, 2021, Renforth announced that it had kicked off a 3,500m, 16 hole, drill program on the Victoria Nickel target at the Surimeau property.

Drilling is planned for around 3 km of the 5 km strike of the Victoria target area and is a follow-up program to its confirmation surface and sub-surface sampling programs which it said has demonstrated the presence of mineralization including sulphide nickel, zinc, copper, and silver.

Just days later, Renforth updated on progress, saying visual results in four holes had revealed the presence of nickel, copper, and zinc sulphide mineralization. The zinc-nickel occurrences at Surimeau bear a geological similarity to the Outokumpu, Finland deposits, the company has said.

And also in March this year, the company had encouraging news from Parbec, telling investors that it has discovered a new gold zone, which lies outside the current resource.

Assays from one hole included an intercept of 1.5m at 5.34 grams per ton (g/t) gold from a depth of 83.4m and 15.8 g/t of the precious metal in an intercept of 0.5m from 159m depth.  Also found was 6.43 g/t gold in a three-metres length starting at 174.7m depth.

And on April 7 this year, the company reported assays from five holes from last Fall’s drilling at Parbec, which it said were expected to bolster the new resource estimate.

Each hole contained gold values of interest, the company said, while a stand-out was 4.02 g/t of gold over a width of 4m from a depth of 141m to 145m in one hole.

A total of 37 drill holes from both phase one and phase two are still outstanding, Renforth added.

Inflection points:

• More drill results from the Surimeau District project
• An updated resource estimate for Parbec this summer
• M&A activity

What the boss says:

Following news of the start of drilling at Surimeau, Renforth CEO Nicole Brewster spoke to  Proactive about the project and the outlook for so-called green metals: “I really don’t think we’ve solved the nickel deficit issue, and that’s again, before you really bring electric vehicle (EV)/ the battery usage/ greening of the economy into the picture, so I think we’re into a fairly robust nickel market for some time here.” 

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Story by ProactiveInvestors