Renforth Resources Inc (CSE:RFR, OTCQB:RFHRF) said it has sold its shares in Radisson Mining Resources (TSX-V:RDS) for $1.4 million, leaving the company funded for exploration in the autumn and winter.
"We have significant dollars in the bank, and we have gold ounces in the ground, we are actively exploring our district scale battery metals property in Quebec,” Nicole Brewster, president and CEO of Renforth said in a statement.
“Surimeau hosts numerous pegmatites and is already proven to carry nickel, copper, zinc, and gold...along with other metals in large mineralized systems on a property 4.5 times the size of the island of Manhattan. Our cash on hand represents almost 50% of our current market capitalization, our other assets build on that base. Our plans for the rest of the year will build upon that combination again," Brewster added.
At Surimeau, the company identified multiple pegmatite outcrops in areas that were previously not explored. The company anticipates follow-ups after a first round of prospecting.
Renforth said it is currently designing a drill program for this winter, focusing on the central area of the 20km long Victoria mineralized structure with step outs from drilling in 2021 and 2022.