2014-04-03 15:29:35 -
Toronto, Ontario (FSCwire) - Renforth Resources Inc. (CSE: RFR) (“Renforth” or the “Company”) is pleased to announce an initial NI 43-101 compliant inferred resource on the 100% owned New Alger project located outside of Malartic, Quebec, in the Cadillac Break gold camp. Using a cut-off of 0.75 g/t Au, this deposit contains an inferred resource of 3,007,000 tonnes grading 2.08 g/t Au for a total of 201,000 ounces of gold.
“We are pleased to have been able to put together this initial NI 43-101 compliant inferred resource, on the basis of our recent successful drill program. Renforth will perform further drilling, in order to add ounces by drilling areas which, to date, are undrilled within the vein system. This should
also move some or all of this initial inferred resource into the indicated category. Management feels that, since our resource outcrops at surface, the use of the 0.75 g/t cut-off is realistic, especially given our nearby open pit neighbours using a lower cut-off. In addition, in the same camp, further to the east, we have seen a feasibility study recommend the use of custom milling, utilizing the excess milling capacity in the camp. Both our shallow, surface setting and the availability of custom milling create an interesting set of circumstances Renforth may be able to benefit from,” states Nicole Brewster, President and CEO of Renforth.
April 2014 New Alger Resource Statement
Thompson-Cadillac Mine Area
Class Tonnes Au g/t Total Oz
Inferred 3,007,000 2.08 201,000
(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(2) The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
(3) The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
The resource has been estimated using drillholes from 2007, 2008, 2010 and the recent 2014 drilling. In addition the western portion of the deposit was estimated using the “A” series holes from 1937 drilled by Alger Gold Mines, several of which were twinned in the more recent drilling. The deposit has only been calculated between the surface and a total depth of 200m, as depicted in the long section below. As shown below, and evidenced in both recent drilling and historical records, the mineralization extends below the 200m cut-off, however, additional deeper drilling will be required prior to calculating any deeper.
This resource has been calculated by Mr. Philip Burt P.Geo and Mr. Brian H. Newton P.Geo, consultants to the Company. Mr. Newton supervised the drilling noted above which forms the basis of this resource, with the exception of the “A” series drillholes. The process of building the resource model, which included a review of drill logs and hand modelling on drillhole sections, has highlighted areas which have not been sampled, and based upon the model which is now in place, including what is known about the mineralization, a requirement to carry out additional sampling on the 2007, 08, 10 and 14 core, all of which has been securely stored, has been identified and will be commenced during the next drill program.
The technical contents of this press release have been reviewed and approved by Mr. Brian H. Newton P.Geo.
Renforth Resources Inc. is a Toronto-based exploration company with interests in two exploration assets: the previously productive New Alger property, located in the Cadillac Break Mining Camp, Québec, and the Mina Pilar Project, located SW of Madrid Spain, also a historic producer of gold.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
T: (416) 368.5049
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws, including with respect to the movement of the inferred resource at the New Alger project into the indicated category and the potential of additional ounces at the New Alger project. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licences and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
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Source: Renforth Resources Inc. (CSE:RFR) renforthresources.com/
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