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The front-burner exploration initiative of Renforth Resources RFHRF is the prospecting and ensuing drilling program(s) at the 330 km2 Surimeau Property, a district-scale, early-stage polymetallic (Ni-Cu-Co-Zn) project. Situated in the Abitibi Greenstone Belt in the Province of Quebec, Surimeau hosts several occurrences of battery metals, including at both ends of a 20km magnetic occurrence that extends between two historic mineralized areas, from Colonie in the east to Victoria West in the west. Also, approximately 3.7km north of Victoria West is Lalonde, another historic location of polymetallic mineralization, with a recently extended strike length of mineralization to 9km. In addition, a second mineralized band was discovered 75m north of Victoria West's main body.
Both Victoria West and Lalonde were discovered in 1943 when surface mineralization was detected during the construction process of a powerline for the Rapide-Sept hydro-electric generating station. Subsequently in 1958 and 1968, a total of 23 drill holes (2,318m) were drilled at Lalonde. Assay results revealed the presence of copper, nickel and zinc mineralization.
Spring 2022 Prospecting Campaign (May)
In early May, Renforth Resources commenced the 2022 exploration season with a Spring prospecting campaign designed to develop a comprehensive list of targets for an expected 10,000m-to-20,000m drill program. Since many areas of the Surimeau Property are road accessible (including existing lumber roads), the field crew was able to prospect across the entire property with many EM anomaly targets being visited and samples being collected.
During the prospecting fieldwork, mineralization was visually detected at outcrops of bedrock that were located by the field team. These visual results, and in some cases confirmed by XRF, revealed the presence of battery metals mineralization at several locations. The GPS record of the field crew's work trail is indicated by red lines in the prospecting map (below). The red circles indicate the areas that were sampled.
Lab analysis of over 400 grab samples will indicate the composition and grade of the mineralization. Assay results of the samples are pending. The results will aid in determining follow-up locations for additional exploration, including channel cutting.
Management is highly encouraged that the EM survey has proven to be an excellent guide to locating mineralization. The survey is expected to continue being a valuable input in designing follow-up field work and eventually the planning of drill hole locations.
Lalonde - Polymetallic Battery Metals Mineralization
On May 31, 2022, Renforth Resources announced that surface sampling fieldwork at Lalonde discovered surface battery metals sulphide mineralization over an east-west strike of 2.4 kilometers. The area of fieldwork was detected by EM anomalies from the aerial electromagnetic-magnetic (EM/Mag) geophysical survey conducted in February 2022. Such EM anomalies tend to indicate the presence of sulphides within magnetic structures.
Victoria West - Polymetallic Battery Metals Mineralization
On June 9, 2022, Renforth Resources provided an update on the Spring surface-sampling prospecting program at Victoria West. Calc-silicate rocks collected at surface (both east and west of the area stripped in the fall of 2021) were visually observed to be well mineralized. Prospecting of outcrops at surface in the area of defined by the EM anomaly, along with assay results from prior drill holes, has led management to conclude that the calc-silicate rock unit at Victoria West is mineralized from surface to a maximum vertical depth of 200.5m over a strike length of at least 2.2km.
During the first six months of 2022, Renforth spent $83,554 on drilling and $95,311on field prospecting on the Surimeau District Property.
Summer 2022 Follow-Up Program (June - July)
In late June 2022, Renforth Resources commenced a follow-up work program based on the visual mineralization observed during the Spring Prospecting Campaign at Surimeau. The program consisted of additional prospecting, mapping, trenching and channel sampling, primarily in the areas of the best visual mineralization discovered during May 2022 prospecting campaign, namely at the western end of Victoria West and at Lalonde.
On July 26, 2022, Renforth Resources announced that management has concluded that the strike length of mineralization at Lalonde now measures 9km, up from 2.4km. The finding was a result of the type and extent of the mineralization visually detected and confirmed with XRF at five (5) trenches dug at Lalonde. Channels were cut in all trenches, and it was discerned that each trench exposed different portions of the mineralized system. Samples were collected, and the assay results will be released when available.
During the Summer 2022 follow-up program at Victoria West, three (3) trenches (trenches 6, 7 & 8) were dug east and west of the target area of the Fall 2021 stripping program. Mineralization was visually detected in all three trenches. Assay results of the collected samples will be released when available. In addition, a second mineralized band was discovered approximately 75m north of Victoria West's main body. The assay results will be released when available.
Management is planning on stripping a wide trench on the northern and southern sides of the previously stripped area to investigate the mineralized bands discovered during the prospecting campaign conducted in the Spring of 2022.
Newly Released Images of the Fall 2021 Stripping Program at Victoria West
In recent videos, Renforth Resources has provided impressive images of the stripped area at Victoria West in the Surimeau Property. The videos provide further information on the program and shows channels being cut. The videos are available and can be viewed on the company's YouTube Channel at the following URLs.
https://www.youtube.com/watch?v=g7yf992HU68
https://www.youtube.com/watch?v=OXTc2yeUBBI
Expected Upcoming Milestones at Surimeau
At the Surimeau Property, Renforth Resources plans to conduct a 10,000m - 20,000m drilling program, the targets of which will be determined by 2022 spring-summer-fall exploration programs, along with additional interpretation of the aerial electromagnetic-magnetic geophysical survey.
Parbec Gold Project
The Parbec Gold Project is on track to have an updated NI 43-101 Mineral Resource Estimate that will significantly increase the company's gold resource. Thereafter, management is highly motivated to monetize the Parbec Project in order to progress toward proving up the district-scale polymetallic Surimeau Property.
At the Parbec Project, management initiated a structural study in order to identify the controls on the magnetic diorite that hosts gold. Renforth has assembled a geologist team to compile and analyze all relevant data, including the most recent assay results from the 15,569m drilling campaign completed in 2021. Once the study has been completed and followed up with additional targeted exploration, an updated Resource Estimate is expected.
Recent Financings
The company's operations and exploration plans are being funded by recent financings. In December 2021, Renforth completed private placements of 15,750,000 of Flow-Through Units and 14,000 Common Units, raising gross proceeds of CDN$1,576,260. Net proceeds were approximately CDN$1.392 million.
Synopsis
Renforth Resources has made consistent progress in the process of proving-up the assets at its Surimeau Property, an early stage polymetallic (Ni-Cu-Co-Zn) project that is in the discovery & exploration stage. Surimeau is highly significant to Renforth Resources for three reasons. First, this breakthrough discovery could be indicative of a district-scale nickel-copper-zinc project that is geologically similar to the commercially successful Outokumpu deposit in Finland. Second, the nickel mining industry is coming into favor as nickel demand for EV batteries is projected to outstrip supply within the next five years. Importantly, nickel is more easily and much less expensively recovered from nickel sulfide than from nickel laterite ore. And third, there is a meaningful valuation disparity between gold and nickel sulfide junior mining companies. Any change in the perception that Renforth has transitioned from a junior gold company to a junior nickel sulfide company potentially would close that gap.
The Surimeau Property appears to have a litany of cost advantages: polymetallic surface mineralization that can be cost-effectively accessed by roads and surface open pit mining methods and that is located in a mine-friendly jurisdiction and near a source of green hydroelectric power. In addition, the Surimeau Property is situated about only 70km from Glencore's Horne Copper Smelter.
Renforth Resources is a junior exploration & development mining company which is advancing two high-priority mining projects: the Parbec Gold Project and the Surimeau District Property. Parbec is an advanced gold project close to being monetized, which is expected to occur after its Mineral Resource Estimate is updated during 2022 while Surimeau is an early stage polymetallic (Ni-Cu-Co-Zn) project that is in the discovery & exploration stage.
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