Renforth Resources (CSE:RFR) is working towards a mineral resource estimate at the Victoria property within the Malartic Metals Package in Québec, Canada, with internal modelling currently underway.
The work comes as the company may have a “motivated” suitor potentially seeking to take over the company.
As previously reported, Renforth is actively considering divesting its Parbec gold deposit in Québec, Canada, within the next six to 12 months ahead of a potential trade sale.
“Our Parbec gold deposit, within the famed Abitibi mining province, is beside Canada’s largest open pit gold mine, which is pivoting to move underground resulting in a ‘fill the mill’ strategy, they are also actively exploring next door, on both sides of our strike, for the first time in at least five years,” CEO Nicole Brewster tells Mining.com.au.
“If they continue to have the success they enjoy locally finding new deposits on the major geological structure we both sit on, then their activity might make our property more attractive from an M&A perspective.
“If we are successful in creating internal cash flow from Parbec or selling the deposit then our attention will shift to our next door district scale polymetallic critical minerals property.”
Meanwhile, Brewster says with internal modelling underway, a statement may be delivered in the short term regarding an MRE at the Victoria property.
“Or it may lead to a public exploration target statement followed by additional exploration based upon an internal model,” she tells this news service.
“We are awaiting a permit to allow us to strip an area on our gold deposit property, it is expected that the process will conclude in the fall.”
During H2 2025, Renforth plans to declare an exploration target at Victoria, as well as receive a stripping permit on its gold deposit.
Brewster says the stripping permit will allow the beginning of a process that would culminate in processing a bulk sample for recovery of gold in a metallurgical test.
Renforth’s Parbec and polymetallic Malartic Metals packages benefit from an advantageous location and logistics. In a well-established mining camp, the company is able to drive to properties, draw on deep local resources to execute its work and benefit from the presence of two sources of hydro-electric power.
Renforth has several choices for toll milling services for gold from Parbec, and proximity to an operating Canadian smelter that could handle polymetallic material from Victoria. The Parbec gold deposit is located on the Cadillac Break just outside of Malartic.
Write to Aaliyah Rogan at Mining.com.au
Images: Renforth Resources
