Renforth Resources reports more Parbec drill assays, including 7m at 7.11 g/t gold

Renforth Resources Inc (CSE:RFR) (OTCPINK:RFHRF) (FRA:9RR) reported more favorable drill results from its Parbec open pit gold deposit in Quebec, including an intercept of 7 metres (m) at 7.11 grams per ton (g/t) gold in one hole. 

As previously reported, the company’s 2020/21 drill program at Parbec was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones and to twin holes drilled between 1986 and 1993. 

READ: Renforth Resources begins maiden drill program at Malartic West

This is to allow assays from those 62 holes to be used in a 2021 resource estimate, which is expected to be completed in June or July this year.

The hole, which hit 7m at 7.11 g/t gold above, was a successful twin with a historic hole. This hole also hit 2m at 10.88 g/t gold, within a longer intercept of 7.5m at 3.25 g/t gold.

Renforth also noted that a previously reported interval in one hole of 18.75m at 4.59 g/t gold had now been extended to a length of 24.1m of 3.78 g/t when lower grade material was taken into account.

Renforth said this was “not unreasonable as this interval currently falls just outside the May 2020 pit contour and would likely come into any re-countering of an open pit at Parbec”.

Renforth’s Parbec project has a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t gold and 177,000 inferred ounces at 1.78 g/t gold.

This estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program, which has been recently completed.

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Story by ProactiveInvestors