Explorer Renforth Resources (CSE: RFR) has released assay results for four holes completed last year at its Parbec gold project in Quebec, adjacent to the Canadian Malartic mine held by Agnico Eagle Mines (TSX: AEM; NYSE: AEM) and Yamana Gold (TSX: YRI; NYSE: AUY; LSE: AUY). Last year’s drilling was aimed at filling in gaps in data within the resource model and testing for extensions of mineralization at depth.
The highlight of the release is a 21.5-metre interval of 5.57 g/t gold reported in hole PAR-20-112 starting at 254.8 metres down-hole. The interval includes a higher-grade section of 16.7 metres grading 6.27 g/t gold.
The release notes that this assay represents a new area of mineralization relative to the 2020 pit-constrained resource estimate for Parbec. Hole PAR-20-112 is in the pit wall defined in last year’s resource and is a down-dip extension of a mineralization zone traced during historical drilling.
The three additional holes returned notable intercepts that include 9.5 metres of 0.72 g/t gold; 5.9 metres of 0.78 g/t gold; and 8.4 metres of 0.65 g/t gold. Although each of these intervals is within the resource pit boundaries, assays are from areas with no current drillhole data.
“We continue to generate positive, accretive data, at times with notable intervals, and in the instance of PAR-20-112 in today’s release, with notable grade, from our shallow open pit gold deposit on the Cadillac Break, beside Canada’s largest gold mine, road-accessible in an excellent jurisdiction,” Nicole Brewster, president and CEO of Renforth, said in a release.
Results for 20 holes drilled last year are still outstanding; 15 holes of the 2021 program have been completed as of March 8, with assays pending.
A May 2020 resource estimate defined a pit-constrained resource of 1.8 million indicated tonnes at 1.77 g/t gold at Parbec, containing 101,400 gold oz., with an additional 2 million pit-constrained inferred tonnes grading 1.56 g/t gold for a further 100,300 oz. Out-of-pit resources add 40,000 tonnes of indicated resources at 2.38 g/t gold and 1.1 million inferred tonnes grading 2.13 g/t gold.