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Renforth Resources inc.
Summary
| Project: | Parbec | |
|---|---|---|
| Deposit: | Parbec | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: Renforth Resources inc. announces a Resource Estimation report for its Parbec deposit at the Parbec project. Updated mineral resource estimate at the project. Renforth Resources Inc. (CSE – RFR) (“Renforth” or the “Company”) is pleased to deliv | |
| Resources: | (Resource): 9.659Mt @ 2.33g/t Au (Inf.), 368Kt @ 3.47g/t Au (Ind.) | |
| CP/QP: | [Resources]: Francis Newton (Not stated) | |
| ABSTRACT: | Renforth Resources Inc. (CSE – RFR) (“Renforth” or the “Company”) is pleased to deliver to shareholders an updated September 2018 Resource Estimate for Parbec consisting of an inferred 656,875 oz Au and an indicated 37,224 oz Au. This increase to the resource estimate is the result of positive drill results obtained in 25 holes over 5600.8 m in the last 10 months. “I am pleased that Renforth is able to deliver to shareholders this value increase to our asset. Despite the general lack of interest in the junior exploration market we have been able to fund our exploration plan and update our resource, acquiring the additional 146,399 contained ounces of gold at an “all-in” exploration cost below $9 CAD/ounce. I hope shareholders take comfort in this demonstration of our efficient use of shareholder capital. I personally believe that focusing on growing our assets where we can, cost-effectively, in this market where junior exploration is largely overlooked, will benefit Renforth once gold ounces are desired” states Nicole Brewster, President & CEO of Renforth. Mineralization at Parbec is at surface, down to a current maximum vertical depth of 738m, the deepest point included within the resource estimate is at a depth of 440m. With a few exceptions the bulk of the drilling at Parbec can be considered relatively shallow, resulting in a resource that is currently shallow but open at depth, offering the potential to add ounces with successful deeper drilling. In addition to being open at depth the mineralization is also open along strike, approximately 700m of interpreted surface strike of the mineralized structure remains on the Parbec property to be drilled. | |
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