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Discussion in 'Penny Stocks' started by Rickydi, Mar 8, 2021.
Thank you for reading about Renforth
Renforth Resources announces discovery of new gold zone at Parbec deposit, Quebec
"This is a new gold setting at Parbec, which will require additional investigation in order to determine the extent," the company said
Reporting results from one hole, assays included an intercept of 1.5m at 5.34 g/t gold from a depth of 83.4m and 15.8 g/t of the precious metal in an intercept of 0.5m from 159m depth
Renforth Resources Inc (CSE:RFR) (told investors it has discovered a new gold zone at its Parbec project in Quebec, which lies outside the current resource.
Reporting results from one hole, assays included an intercept of 1.5 metres (m) at 5.34 grams per ton (g/t) gold from a depth of 83.4m and 15.8 g/t of the precious metal in an intercept of 0.5m from 159m depth. Also found was 6.43 g/t gold in a three-metres length starting at 174.7m depth.
READ: Renforth Resources reveals high-grade gold intercepts at its Parbec open pit deposit in Quebec's Cadillac Break
Renforth noted that each of these assays highlights were taken from some level of quartz veining within sediments.
"This is a new gold setting at Parbec, which will require additional investigation in order to determine the extent," the company said.
Renforth's wholly-owned Parbec asset is a road accessible open pit gold deposit in Quebec’s Cadillac Break, contiguous to Canadian Malartic, Canada’s largest gold mine.
It currently boasts 104,000 indicated ounces of gold at a grade of 1.78 g/t and 177,000 inferred ounces at 1.78 g/t gold.
The company is presently carrying out a 15,000m drill program planned to twin, infill and undercut existing drill holes in a bid to rebuild the geological model and increase the resource estimate.
Last week, Renforth posted results from a 2020 drill campaign at the deposit, highlighting a standout intersection of 21.5m grading 5.6 g/t gold, including 6.3 g/t over 16.7m and 37.3 g/t gold over 1m.
The interval occurred within the pit wall of a May 2020 resource estimate on the project and represents new mineralization, it said.
while a lot of mining small cap trade a lot less Renforth still very active
On CSE RFR traded 967K last friday and OTCQB RFHRF shows 124K volume
It's becoming obvious that some investors are accumulating the stock waiting for an Au resource update at Parbec and results from Surimeau an elephant polymetallic VMS
RFR / RFHRF trades well
545k volume on the CSE stock is 0.085-0.09¢
Very light offers on the way up
Stock is ready for a breakout
Today RFR trade near 900K shares and 293K on RFHRF
77,000 @ 0.08 X 7,[email protected] 0.085