Renforth Resources announces the receipt of initial positive results from the July 2019 program at New Alger, which include 2.56 g/t Au over 0.45m, this extends the Discovery Veins mineralization stike by approximately 30m to the west.
The total strike of the surface, gold bearing Discovery Veins, is now approximately 260m, on high ground approximately 250m south of the Thompson-Cadillac Mine Area resource, and the 1.4 km of the Cadillac Break, at New Alger.
In 2017 a narrow fracture-fill quartz vein, located about 6m south of the largest historic blast pit within the 230m stripped Discovery Veins, returned low grade gold numbers. With this program Renforth’s geologists were able to access additional strike of this narrow vein to the west, discovering that the vein opens up into a wide splay consisting of a main vein and an offshoot vein, into which 6 channels were cut, returning gold values highlighted below. The new veins are dipping to the SW, adding ~8m width to the Discovery Vein mineralized horizon, and are, along with the entire Discovery Vein system, open along strike and undrilled.
“Continuing the Discovery Veins strike to the west and increasing the width of the mineralized system adds value to New Alger. Having a vein which assays low values in one area opening up on strike and delivering higher values in another location illustrates that we cannot dismiss any results obtained, in this environment low grade gold indicates the presence of gold in the structure. Our channel samples offer only a small window into what is happening within the Discovery Veins, be it a splay of the Cadillac Break or a dilation of the fault which joins the Discovery Veins to the western edge of the Thompson-Cadillac Mine. We look forward to continuing to explore New Alger’s potential,” states Nicole Brewster, President and CEO of Renforth.
Renforth is awaiting additional results from the July program from the eastern and northern portion of the Discovery Veins and will report on those as they become available. Results referred to in this press release were obtained from samples identified and taken in the field, bagged, tagged and sealed and delivered to the facilities of ALS in Val d’Or Quebec where they were fire assayed for gold.
Renforth will commence a fundraising effort of up to $1 million on a non-brokered basis through the issuance of flow-through and non flow-through share units, priced at $0.06 and $0.05 respectively. If successful the funds raised will be used for exploration on the Parbec and New Alger resource properties.