Renforth Resources (RFR) - Technical Analysis & Due Diligence

Renforth Resources Inc. is a Canadian exploration and development company focused on the advancement of its gold and battery metal properties in Quebec. The Surimeau district property of the company holds a 330 km2 land position and hosts several known areas of nickel, cobalt, platinum group elements (PGEs), copper, zinc and lithium mineralisation.

The Victoria zone is a 20 km magnetic anomaly and has been drilled over a strike length of 2.2 km within a 5 km long mineralised structure and has shown nickel copper zinc and cobalt mineralisation. The Huston zone of the property has shown mineralisation of up to 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag during initial reconnaissance sampling. The property further hosts the Lalonde, Surimau and Colonie zones which all show polymetallic mineralisation.

The asset portfolio of Renforth Resources Inc. also includes the Parbec Gold deposit, a surface gold deposit which is located next to the Canadian Malartic gold mine, owned by Agnico Eagle Mines Limited and Yamana Gold Inc. The company completed a 15,569 m exploration drilling campaign at the property in 2022 and 2021.

The property holds a mineral resource estimate (MRE) of 104,000 ounces of gold in the indicated category with an average grade of 1.78 g/t Au and 177,000 ounces of gold in the inferred category at an average grade of 1.78 g/t Au. The Mineral resource estimate was based on 28,000 m of exploration drilling. The company has since the release of the mineral resource estimate of the Parbec gold property completed 15,000 m of exploration drilling and holds another 13,000 m of historic drilling previously omitted from the mineral resource estimate.

Renforth Resources Inc. announced on the 26th of July 2022, that it had concluded with its summer 2022 prospecting program at its Surimeau property. The summer 2022 prospecting was aimed at defining the extent of the surface and sub-surface polymetallic mineralization on the Surimeau district property. The company has been able to define the property’s Victoria mineralisation structure to a length of 20 km and the Lalonde mineralisation structure to 9 km in length. Renforth Resources Inc. on the 14th of September 2022 announced that it had resumed its field work at the Surimeau district property after receiving the required permit for the Lalonde zone. The field work will be aimed at following upon visual mineralisation encountered during channel sampling earlier in 2022.

The company will continue its trenching and chipping programs at the Surimeau property in the future, whilst it awaits the assay results from previous trenching programs. The Parbec gold property will also be evaluated to identify the correct path for the deposit going forward, be it sale or development. Renforth Resources Inc. further aims to launch an exploration drilling program at the Surimeau property at the end of 2022.

Projects

The asset portfolio of Renforth Resources Inc. can be split into two sides. One side of the company’s portfolio includes its Nickel and various other battery metals which are located in the Surimeau district property of the company and the other is the company’s gold assets.

The Surimeau property of the company is a 330 km2 land package which is easily accessible via road and currently holds more than 25 km of surface mineralisation. The property hosts the Victoria, Lalonde, Surimau, Huston, Foulliac and Beaupré zones. The Surimeau property is also strategically located near Canada’s only copper-nickel smelter

The Victoria zone is the most advanced of the property and hosts its mineralisation in the form of an ultramafic body which is rich in sulphide nickel, cobalt, platinum and palladium along with various other metals. The mineralisation system is magnetic and is intertwined with a massive sulphide structure consisting of copper and zinc mineralisation. The Lalonde zone shows similar mineralisation to that of the Victoria zone. The Surimau. Huston and Foulliac zones also host polymetallic mineralisation with the property’s Beaupré zone showing copper and silver mineralisation.

The Parbec gold property of the company is a 100% owned land package located in northwest Quebec. The property is on strike to the Canadian Malartic gold mine, one of the largest operating gold mines in Canada and owned by Agnico Eagle Mines Ltd. and Yamana Gold Inc.  The property holds a mineral resource estimate which was published in 2020 and includes 104,000 ounces of gold in the indicated category with an average grade of 1.78 g/t Au and 177,000 ounces of gold in the inferred category at an average grade of 1.78 g/t Au. The company has since the publishing of the mineral resource estimate completed 15,000 m of exploration drilling. The exploration drilling was also able to validate 13,000 m of historic drill data.

Surimeau property - Summer 2022 program

Renforth Resources Inc. announced on the 26th of July 2022, that it had concluded with its summer 2022 prospecting program at its Surimeau property. The summer 2022 prospecting program was aimed at defining the extent of the surface and sub-surface polymetallic mineralization on the Surimeau district property. The company has been able to define the property’s Victoria mineralisation structure to a length of 20 km and the Lalonde mineralisation structure to 9 km in length.

The Summer 2022 program included the digging of 8 different trenches at the Lalonde and Victoria zones. The company encountered mineralisation, which was confirmed visually and with XRF, in each Trench. The trenching enabled Renforth Resources Inc. to the discovery of a second horizon of mineralization sitting to the north of the mineralized horizon uncovered during the Fall 2021 stripping at the Victoria zone.

Trenches 1 to 5 of the trenching works were dug at the Lalonde zone. The highlights of these trenches include the exposure of Pontiac sediments and ultramafic mineralisation systems which include between 5% and 15% of sulphide mineralisation.

Trenches 6 to 8 were dug at the Victoria zone of the property and were aimed at exposing the newly discovered northern band of mineralisation at the zone. The trenches showed ultramafic and Pontiac sediments.

Surimeau property - Field work

Renforth Resources Inc. on the 14th of September 2022 announced that it had resumed its field work at the Surimeau district property after receiving the required permit for the Lalonde zone. The field work will be aimed at following up on visual mineralisation encountered during channel sampling initiatives earlier in 2022.

The company has enlisted the services of the same contractor who carried out the successful trenching program of the Victoria zone to conduct the chipping and trenching program at the Lalonde zone. The trenching is planned to start and finish in the Pontiac sediments, in an attempt to encompass the full mineralized package at Lalonde.

Renforth Resources Inc. has enlisted the services of the Coopérative de solidarité de Pikogan to carry out a permitted chipping program in two specific locations within the Victoria zone. The trenching will be aimed at intercepting the previously encountered mineralisation in the northern section of the mineralisation zone and connecting this with the central area of the zone.

Parbec property development and future plans

Renforth Resources Inc. plans to evaluate the Parbec mineralisation data which has been produced through various drilling initiatives at the property. The company has been able to through its evaluation confirm that the mineralisation of the property is continuous to depth. The Parbec property offers the company optionality as it may be either advanced by the company itself or sold as a high-grade resource or high-grade feed for neighbouring mines. The Canadian Malartic mine, which neighbours the Parbec property, will in the near future be a jointly owned operation of Agnico Eagle Mines Ltd and Gold Fields Ltd. The company believes that the new joint venture may serve as a catalyst for the Parbec property.

Renforth Resources Inc. will continue its trenching and chipping programs at the Surimeau property in the future, whilst it awaits its assay results from previous trenching programs. The company further aims to launch an exploration drilling program at the Surimeau property at the end of 2022.

To find out more, go to the Renforth Resources website‍