Renforth Resources (CSE: RFR; US-OTC: RFHRF) will use its Parbec gold deposit to fund nickel exploration of its Malartic Metals package in Quebec, CEO Nicole Brewster said at a London event.
“The plan is to monetize the gold deposit to fund work at the nickel,” Brewster told The Northern Miner’s International Metals Symposium on Dec. 2. The company seeks metals in a highly promising area. It hosts Canada’s largest open-pit gold mine, Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Canadian Malartic Complex.
The Parbec gold deposit, on the Cadillac Break, holds an existing resource last calculated in 2020 at US$1,450-per-oz. gold. The May 2020 resource estimate defined a pit-constrained resource of 1.8 million indicated tonnes at 1.77 grams gold per tonne for 101,400 gold oz. An additional 2 million pit-constrained inferred tonnes graded 1.56 grams gold for a further 100,300 ounces.
Renforth is updating the resource with 28,000 metres of new drilling, including data from the 1980s and 1990s.
The company expects the recalculation to boost the deposit’s value, making it a viable funding source for its about 300 sq. km Malartic Package nickel exploration.
Watch the full presentation below:
JV videos are sponsored content in arrangement with The Northern Miner.
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