Renforth Resources (CSE:RFR) has begun stripping on the Parbec gold deposit in Canada, within the area of a proposed open pit, amid undertaking to raise up to C$500,000 ($548,541).
Under the capital raise, units will be issued at C$0.02 which will comprise of a flow-through share and one-half of a warrant exercisable at $0.05 within 24 months.
The company says stripping is specifically targeting a 12.2m channel grading 1.43 grams per tonne gold on surface, as well as any additional surface extensions of gold mineralisation.
Stripping activities will extend across and perpendicular to the diorite splay – which is a feature known to host gold mineralisation at Parbec.
Following completion of the chipping and overburden removal, a newly exposed surface will be prospected, mapped, and sampled.
Renforth will also continue investigating the presence of mineralised structures oriented perpendicular to the Cadillac Break, consistent with features identified in previous drilling.
The Parbec gold deposit sits on 1.7km of strike of the Cadillac Break in Québec, Canada.
Renforth Resources is an explorer and developer focused on discoveries in Québec and Ontario.
Write to Aaliyah Rogan at Mining.com.au
Images: Renforth Resources
