Quebec explorer Renforth Resources has 'explosive' potential with its nickel-rich VMS discovery, says CEO Excitement is currently building over the group's Surimeau property after it confirmed a potential district scale VMS nickel-rich discovery there. What sets Renforth's Surimeau apart is the amount of potential nickel the deposit houses, says Brewster Renforth Resources Inc (CSE:RFR) (OTCPINK:RFHRF) (FRA:9RR) offers an interesting investment proposition, since as well as being a Quebec gold exploration play it is also a green (battery) metals story. The smallcap resource group is advancing its Parbec gold property, which lies on the famous Cadillac break and already boasts an indicated open pit resource of 104,000 ounces at 1.78 grams per ton (g/t) gold, along with 177,000 inferred ounces at 1.77 g/t gold. But excitement is currently building over the group's Surimeau property after it confirmed a potential district scale VMS nickel-rich discovery (over around 20km) at the large 215 square kilometre (sq km) asset. The current exploration focus is at the western end of the property, covering about 5km of strike. Drilling started The company has just kicked off a 3,500 metre (m) drill program (for which it is fully funded) at the Victoria target to cover around 3km of that strike to confirm the discoveries from sampling and increase the company's geological understanding. VMS deposits are not unheard of in the Abitibi and Agnico Eagle's (NYSE:AEM) flagship LaRonde mine, which is exploiting a gold-rich volcanogenic massive sulphide deposit, lies just 20km north. What sets Renforth's Surimeau apart though is the amount of potential nickel the deposit houses. "That's unique on a global scale," explains Renforth's CEO of nine years Nicole Brewster, a former exploration contractor and the daughter of an exploration geologist. "Nickel discoveries are few and far between." "To have nickel and copper, which are the leading metals in this green revolution in the same spot is kind of interesting," she says. And with VMS deposits come other metals too. For example, drill assays at Surimeau have included 1.16% zinc and 0.132% copper over 4.03 metres (m) from bedrock surface down to 4m, followed by 0.147% nickel (Ni) over 7.9m. Commodities such as nickel, zinc and copper are now gaining traction as the world population grows and the transition to clean energy from fossil fuels increases. Copper is widespread in building and energy applications. Along with nickel, it is also vital in manufacturing electric vehicles (EVs), 140 million of which are expected to be on the road by 2030, according to a report from Wood Mackenzie. Battery metals Brewster reckons the current world situation also means the general investor is increasingly looking at mining firms, particularly those in the battery metals space. "I think it's opening a lot of eyes to our existence, which is if you can't grow it you have to mine it," she says. To that end, and to help understand what the company has on its hands at Surimeau, it has hired VMS deposit expert Dr James Franklin as principal technical advisor who will guide exploration and drill targeting at the property. He has compared the project to the sort of deposits found in the Outokumpu mining district of Finland with its sulphide deposits and economic grades of copper, zinc, cobalt, nickel, gold and silver. Like Renforth's Parbec property, Surimeau is contiguous to the Canadian Malartic mine (CMM), Canada's largest operating open pit (a joint venture between Yamana Gold and Agnico Eagle) and nearby to several producing mines and mills, so processing any future potential ore from Surimeau should not be an issue. Speaking of Parbec, Brewster's aim is to sell that project on, so Renforth can focus attention on under-explored Surimeau, and it is hoped a restated resource estimate at Parbec, earmarked for release in the second quarter this year, should help that process along. The resource update will include assays from 15,000m of new drilling, which has just been completed, along with historic data from the 1980s and 1990s, and Brewster believes the estimate will 'comfortably' surpass 500,000 combined indicated and inferred ounces. Recent results have been encouraging, with the company announcing the discovery this month of a new area of mineralization, actually located within the current conceptual open pit wall, which graded 5.57 g/t gold over 21.45m. In terms of a sale of Parbec, Brewster says the firm's neighbour could be potentially interested in this open pit resource, from an operational standpoint. "I believe Canadian Malartic will need the mill feed. They are going to shift to underground and they need feed to keep their mills turning while they do that," she says. Indeed, the operators of CMM are currently stockpiling low grade ore to sustain the operation while they pivot. So Renforth looks to be in a good spot, both in terms of finances and geography. Well funded The firm has around C$6 million in cash and securities on hand so it can meet exploration demands at Surimeau for the foreseeable future. That doesn't include the value of over 281,000 ounces of gold, which is in effect in storage (in the ground) at Parbec. It is also worth noting that the company does have other 'irons in the fire' in mining-friendly Quebec, namely its Malartic West property, which spans 53 sq km adjacent to the western border of the CMM and the site of a surface copper/silver discovery traced over 200 metres. It also wholly-owns the Nixon-Bartleman property in Ontario on the Destor-Porcupine Fault, with gold on surface over 500m of strike, which remains open, and the Denain-Pershing project - a large, mineralized land position east of Val d’Or Quebec, which is currently optioned to O3 Mining. Brewster sums up the company thus: "We have a well-funded gold asset with blue sky, and we also have explosive potential in the exploration of our nickel rich VMS/ battery metals story with funding in hand for the foreseeable future."
https://www.barchart.com/stocks/quotes/RFR.CN/opinion Overall Average: 100% BUY Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal. Current Strength Good Current Direction Strongest Trend Spotter BUY
Factoring in total cash and securities holdings of $6.8 million and no debt, Renforth’s enterprise value (EV) is about $8.0 million, equivalent to $29 per estimated ounce of gold resource. In contrast, QMX Gold’s takeout EV is around $110 million. Its principal asset is the Bonnefond gold property, which has an estimated 687,900 ounces of gold resource (combining indicated and inferred resources). The QMX Gold acquisition price therefore equates to $160 per ounce of gold resource, or 5.5 times Renforth’s figure. Investment Conclusion Eldorado’s friendly acquisition of QMX Gold could be a one-off transaction, but it could also suggest that large gold miners are evaluating other mining properties in the Abitibi Greenstone Belt. On that basis, Renforth Resources and Radisson Mining may be interesting speculations. The cash-rich, debt-free companies’ properties are located near a number of major mines. Also, both stocks trade at discounts to QMX Gold’s takeover price in terms of EV per estimated ounce of gold resource. The source : https://thedeepdive.ca/?s=renforth+resources
https://www.barchart.com/stocks/quotes/RFR.CN/opinion Overall Average: 100% BUY Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal. Current Strength Strong Current Direction Strongest Stock trades up offers are light Ready to move north
New High for RFR on heavy volume Technical breakout Are you ready to make money ???? RFR also trades OTCQB RFHRF
New PR from RFR ORIGINAL: Renforth Drills Gold at Parbec and Sulphides over 2.2 kms. Strike at Surimeau 2021-04-13 08:02 ET - News Release Parbec Update - includes assay results for Fall 2020 drill program, including 10.75m of 1.54 g/t gold drilled in PAR-20-121 Surimeau Update - includes visual identification of nickel, copper and zinc in each hole drilled over 2.2km strike length at Victoria West 35 drill holes in both phase one (Fall 2020) and phase two (Winter 2021) of the program still outstanding the Victoria West Target Area, a nickel rich VMS target which has been explored historically and by Renforth over a strike length of 5kms within a 20km long magnetic anomaly associated with intrusives. This program has successfully drilled off 2.2km of this strike length. Significant chalcopyrite, sphalerite and pyrrhotite mineralization was identified in each hole drilled. The mineralized anomaly is now proven to be up to 250m in width View source version on accesswire.com: https://www.accesswire.com/640093/R...-and-Sulphides-over-22-kms-Strike-at-Surimeau
Renforth drills 10.75 m of 1.54 g/t Au at Surimeau 2021-04-13 09:19 ET - News Release Ms. Nicole Brewster reports RENFORTH DRILLS GOLD AT PARBEC AND SULPHIDES OVER 2.2 KMS. STRIKE AT SURIMEAU Renforth Resources Inc. has provided an update shareholders on assay results received for Renforth's 2020 drill program on the wholly owned Parbec open-pit-constrained gold deposit on the Cadillac break and visual drill results obtained in the current drill program on the wholly owned Surimeau district nickel-rich volcanic massive sulphide (VMS) target at Victoria West, both adjacent to the Canadian Malartic mine in northwestern Quebec. This press release gives highlights of assays received for PAR-20-114, PAR-20-118, and a portion of PAR-20-121, all drilled in the Fall 2020 program at Parbec where 9,644m were drilled in phase one of a drill program designed to support a new 2021 resource estimate for Parbec. The drill program finished at 15,569m of drilling completed with the assay results for a total of 35 drill holes in both phase one (Fall 2020) and phase two (Winter 2021) of the program still outstanding. The drill program was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones with undercut drillholes and to twin holes drilled between 1986 and 1993 in order to allow the assay results from those 62 holes to be used in the 2021 resource estimate for Parbec, anticipated to be completed in June/July 2021, however, the timeline is dependent on the receipt of assays. The two complete drill holes and one partial drill hole reported on in this press release continue Renforth's success in drilling at Parbec with, again, each hole drilled returning gold values of interest. Each of the results given below are accretive to the overall gold endowment of the Parbec deposit and are expected to positively impact a resource estimate calculation. Surimeau District Property Update In late March Renforth commenced a 3500m drill program at the 215km2 Surimeau District Property, which hosts gold, nickel, copper, zinc and other metals in various settings at several locations on the large property. This drill program is on the Victoria West Target Area, a nickel rich VMS target which has been explored historically and by Renforth over a strike length of 5kms within a 20km long magnetic anomaly associated with intrusives. This program has successfully drilled off 2.2km of this strike length. Significant chalcopyrite, sphalerite and pyrrhotite mineralization was identified in each hole drilled. The mineralized anomaly is now proven to be up to 250m in width. There remains 4 km of strike length along the anomaly to the west within the property boundary and 12 km to the east which has never been prospected or drilled, except in the very eastern end where the Colonie showing has been identified historically and verified by Renforth. Renforth has completed 13 holes, with drilling ongoing in the 14th hole, SUR-21-17, in 2892m. The final hole planned in the program is SUR-21-18, an undercut of two earlier holes, SUR-21-06 and SUR-21-07, which gave visual mineralization in multiple lithologies between the two holes. Samples have been selected, split and delivered to the lab for this program, results are awaited. Parbec samples reported on in this press release were selected, split, bagged and tagged in the field and delivered to the facilities of AGAT Laboratories in Val d'Or Quebec where they were assayed for gold using "202-051 - Au by Fire Assay, AAS Finish" and "202-064 - Au by Fire Assay, Gravimetric Finish" for overlimit (>10 g/t Au) values. Technical disclosure in this press release has been reviewed and approved by Francis R. Newton P.Geo (OGQ#2129), a "qualified person" pursuant to NI 43-101 On April 6, 2021, the Board granted 2,550,000 stock options to officers, directors and consultants of the Company. The options were granted pursuant to the Company's option plan, have an exercise price of $0.08 and are exercisable for five years from the date of grant. The Company also announces that it reached an agreement on April 6 2021 with two related party creditors to settle debt in the total amount of $165,000 by the issuance of 2,062,500 common shares of the Company at a deemed price of $0.08 per share. CFO Advantage Inc., a company owned by Kyle Appleby, the Chief Financial Officer of the Company, participated in the debt settlement by settling debt in the amount of $55,000 in respect of which it will receive 687,500 common shares of the Company. Minroc Management Limited., a company that Nicole Brewster (the Company's Chief Executive Officer) is associated with, participated in the debt settlement by settling debt in the amount of $110,000 in respect of which it will receive 1,375,000 common shares of the Company. About Renforth Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement. In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth's wholly owned 215 km2 Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021. Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m. Renforth is well funded, with ~$6 million in cash and securities on hand (*as at 03/15/21), in addition to the gold contained in our gold deposit. We seek Safe Harbor. © 2021 Canjex Publishing Ltd. All rights reserved.
C:RFR - Renforth Resources Inc. - http://www.renforthresources.com 12:23:49 EDT Technical breakout on high volume 1.8 million so far today
Renforth Resources Inc (CSE:RFR) (OTCQB:RFHRF) (FRA:9RR) CEO Nicole Brewster tells Proactive it has begun a 3,500-meter drill program on the Victoria Nickel target at its Surimeau District property in Quebec. Brewster says the drilling is planned for around three kilometers of the five-kilometer strike of the Victoria target area and is a follow-up program to its confirmation surface and sub-surface sampling programs which it said has demonstrated the presence of mineralization including sulphide nickel, zinc, copper, and silver while testing for platinum group elements is ongoing.
