Exploration Commences on Renforth's West Malartic Gold Property

2017-08-29 / @fscwire

 

Exploration Commences on Renforth's West Malartic Gold Property



Toronto, Ontario (FSCwire) - Renforth Resources Inc. is pleased to announce that SOQUEM has commenced exploration on Renforth's wholly owned West Malartic Gold Property which hosts the structural strike extension of the neighbouring Canadian Malartic Mine, as interpreted from geophysics. SOQUEM is a crown corporation subsidiary of Investissement Quebec and is expert in the discovery and development of numerous resource deposits in Quebec. SOQUEM optioned a 50% interest in the West Malartic Property, to be earned by exploration expenditures of $1.3 million dollars. (see press release of July 17, 2017) Renforth and SOQUEM are exploring the potential structural contiguity to Canadian Malartic Mine as seen in available geophysics.

"I believe this highly prospective property holds great promise and any exploration investment has the potential to yield significant results given the property location and the fact that the structural continuity of the property with the Canadian Malartic Mine has never been tested. Bringing in SOQUEM as a project partner ensures that both the expertise and the financial means are available to test the potential here," said Nicole Brewster, President and CEO of Renforth. "At the same time we are able to remain focused on our existing gold resource properties allowing our shareholders to benefit from multiple exploration programs. A relationship with SOQUEM is an asset to Renforth both on the ground and in the Quebec exploration community and I look forward to working with them on this exciting project."

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Renforth has approved an initial program at West Malartic, to be carried out by SOQUEM, of geological reconnaissance, line cutting and a 140 km IP survey, the budget for this program is slightly more that $400,000.This program has commenced and will carry on until the end of this year.

The technical information in this press release has been reviewed and approved by Brian H. Newton P.Geo, a qualified person pursuant to the guidelines found in National Instrument 43-101.

ABOUT SOQUEM

SOQUEM, a subsidiary of Investissement Qu?(C)bec, is a leading player in mineral exploration in Qu?(C)bec. Its mission is to explore, discover and develop mining properties in Qu?(C)bec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.

ABOUT RENFORTH'S PORTFOLIO

Renforth has recently raised just over $600,000 in capital and has commenced deploying this capital in connection with property exploration, acquisition and payments.Recently, in addition to this acquisition of additional gold bearing ground in the Val d'Or mining camp, Renforth has completed a field program on its gold resource bearing Parbec Property, located contiguous to the large, open pit Canadian Malartic Mine, on the Cadillac Break outside the Town of Malartic, Quebec.A discovery of a new gold mineralization type at Parbec this season was press released on July 12, 2017, this mineralization is outside of the area of the maiden gold resource established by Renforth at Parbec in March 2016.That resource tonnage consists of 262,230 t Indicated at a grade of 3.62 g/t Au containing 33,592 ounces and 7,256,872 t Inferred at a grade of 2.01 g/t Au representing 514,108 ounces (press release Mar 7, 2016).Renforth is presently awaiting the balance of assay results from this program and will press release those once available.Renforth deems this program successful in that it resulted in a new discovery and will offer drill targets in that and other unexplored areas of that property.

Additionally Renforth has recently optioned its' wholly owned brownfield exploration West Malartic property, also contiguous to the Canadian Malartic open pit mine, to SOQUEM, a Quebec crown corporation with expertise in the discovery and development of new mineral assets in the Province of Quebec.Renforth looks forward to the results of SOQUEM's required $1,300,000 in exploration on the property, with an initial, committed and approved by Renforth, $300,000 program consisting of prospecting and geophysics expected to be commenced in the near future.

In addition to these currently active mineral assets Renforth also owns the gold resource bearing New Alger Project, located on the Cadillac Break approximately equidistant between Rouyn and Val d'Or Quebec.This property presently consists of both the historic Thompson-Cadillac Mine where Renforth established a maiden Inferred resource of 3,505,000 tonnes containing 237,000 ounces of gold at a grade of 2.1 gt/t Au (July 17, 2014) at surface.This shares the vein structure of the adjacent historic producer of >500,000 ounces of gold at an average grade of approximately 15 g/t Au, the O'Brien mine. Also on the property is Renforth's discovery of gold bearing quartz veins on surface in the sediments south of the mine.This vein system has been traced over >450m and returned grades including 11.6 g/t Au over 0.5m (press release Dec 9, 2014), this surface discovery is not included in the resource. Renforth's next step at this property, anticipated to occur this summer, will be to strip a portion of the gold bearing surface quartz veining in order to better assess the extent of the mineralization and potential for mini bulk sampling of the veining.

In Ontario Renforth holds the Nixon-Bartleman property, located west of Timmins.This property has seen intermittent exploration, with a significant amount of work done, including Renforth's own surface channel which assayed 22.1 g/t Au over 0.3m (press release Sept. 10, 2014) part of a structurally controlled mineralized system now traced over >450m on surface.Renforth's next step at this property will be a compilation of all of the exploration data.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/renforth08292017.pdf

Source: Renforth Resources Inc. (CSE:RFR)

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