Renforth Resources Inc (CSE:RFR) (OTCPINK:RFHRF) (FRA:9RR) revealed new results earlier this week from a 2020 drill campaign at its Parbec deposit in Quebec.
The company reported a standout intersection of 21.5 metres (m) grading 5.6 grams per ton (g/t) gold, including 6.3 g/t over 16.7m and 37.3 g/t gold over 1m.
The interval occurs within the pit wall of a May 2020 resource estimate on the project and represents new mineralization, according to Pickering, Ontario-based Renforth.
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According to a statement, the company said it expects the interval, as well as other results from the campaign, will have a “positive impact” on recalculating the resource estimate for Parbec. The holes drilled in the 2020 program were designed to fill in data gaps in the resource model or test for the extension of mineralization to greater depths, the company said.
Highlights from other assays released this week included 1.5 g/t gold over 7.3m and 1.2 g/t gold over 3.9m.
Renforth CEO Nicole Brewster told investors the company was “pleased” with the results from Parbec so far.
“We continue to generate positive, accretive data, at times with notable intervals, and … with notable grade, from our shallow, open pit gold deposit on the Cadillac Break, beside Canada's largest gold mine, road accessible in an excellent jurisdiction,” Brewster said in a statement.
“We are currently drilling at Parbec and look forward to reporting on assays for the next while from this program which, when complete, will total approximately 15,000m of new drilling and data, exceeding our previous drill total at Parbec of just under 8500m, made possible by our excellent financial position. We look forward to a resource recalculation at Parbec in the near future and getting a much clearer picture of the potential and value of this asset."
Renforth said there are still another 20 holes awaiting results. An ongoing 2021 drill program at Parbec has completed 4,095m over 15 holes so far.
Parbec is a wholly-owned, road accessible open pit gold deposit in Quebec’s Cadillac Break, contiguous to Canadian Malartic, Canada’s largest gold mine.
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