Renforth Announces Drilling Program on New Alger Project and an Amendment of Terms in the Joint Venture Agreement
08 Novembre 2010 - 1:30PM
Marketwired Canada
Renforth Resources Inc. (CNSX:RFR) ("Renforth") or (the "Company") is pleased to
announce plans to commence a drill program at the New Alger Project (the
"Project") later this month. The program includes approximately 2500 metres of
drilling to explore the potential for up-dip and strike extensions to the
mineralization outlined historically and confirmed in a program completed in
2007 by the Company's joint venture partner, Cadillac Ventures Inc.
("Cadillac").
Cadillac previously carried out a drill program to test several anomalies
identified by airborne geophysics as well as to drill the historically
productive area of the property. The program, which included 12 holes totaling
3495 metres, had 2 objectives: i) to drill test several IP anomalies identified
in a previously completed geophysical survey; and ii) to test for the potential
mineralized shoots at depths ranging from 250 to 400 metres along the known
mineralization of the former Thompson-Cadillac Mine, including the eastern area
of the property where it is believed there may be a repeating structural
occurrence of mineralization based upon periodicity associated with the
contiguous Obrien Mine Property to the east of the New Alger property. All of
these drill holes returned gold assays.
Several holes in the 2007 program returned elevated gold assays as high as 18
grams per ton from narrow sulfidized quartz veins and adjacent mineralized wall
rock. It is well documented that in the Cadillac Break area, gold mineralization
is found in narrow continuous vertically to sub-vertically dipping quartz veins
that exhibit striking continuity from near surface to significant depths as
evidenced in the adjacent O'Brien Mine and others along the Cadillac Break.
The New Alger property consists of 317.2 hectares underlain by the Pontiac and
Cadillac sediments in the north and south of the property, and the volcanic
rocks of the Piche Group with the associated Cadillac Break Zone occupying the
central part of the property. Six known gold ore bodies all lie either in or
close to the Cadillac Fault Zone, these being the New Alger, Central Cadillac,
Wood Cadillac, Pandora and Lapa Cadillac.
Renforth also announces that it was granted an extension by Cadillac on its'
obligations under the joint venture agreement on the New Alger Project. The
agreement calls for an expenditure of $500,000 on the Project by November 1,
2010. Renforth's planned drill program as described above will fulfill the
Company's commitment in that regard. Renforth has made the required payment of
$25,000 as well as issued 1,000,000 common shares to Cadillac in accordance with
the agreement.
Mr. Brian Newton, P. Geo., a "qualified person" pursuant to NI 43-101 has
reviewed and approved the technical information in this press release on behalf
of the Company.
About Renforth
Renforth Resources Inc. is a Toronto-based diamond, base metals and precious
metals exploration company with significant concessions in the McFaulds Lake
"Ring of Fire" discovery area of north- eastern Ontario as well as Spain.
Renforth has five diamondiferous kimberlites referred to as the Kyle
kimberlites: two are at the commercial bulk-sampling stage; the remaining three
are targeted for specific follow-up drilling and economic evaluation. Additional
mineral claims lie between ten and twenty kilometres from Noront Resources
Ltd.'s recent base metal discoveries at its Double Eagle Project. The Company
also has now acquired the Mina Maria Luisa project located in Southwestern
Spain, approximately 30 kilometres from the Aguas Tenidas Mine. Renforth intends
to drill targets at Mina Maria Luisa in 2011, and also has significant planned
drilling of the New Alger Gold project located in Quebec in late 2010.
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