Renforth Resources (CSE:RFR) has identified mineralisation at the Fouillac prospect within its Malartic Metals Package (MMP) near Malartic, Québec, similar to that seen at Victoria and Lalonde from around 550m of surface sampling.
Mineralisation which the company has detailed as a polymetallic occurrence in the Fouillac represents a positive step in keeping with its strategy around nickel and copper.
Nickel was valued at 1080 parts per million (ppm) with disseminated sulphides and copper values greater than the threshold in Québec marked at 125ppm for copper anomaly.
CEO Nicole Brewster says these results illustrate an accretive event for the package.
“A third location of the polymetallic mineralisation, again on surface and with road access, demonstrates additional value and potential, especially if one is to consider a future ‘hub and spoke’ scenario,” Brewster says.
“In the future there is a possibility that the MMP could host a processing facility fed with material from the around 20km long Victoria mineralised system, the similar length and mineralized Lalonde system 4km to the north of Victoria, and the Fouillac occurrence, a similar distance to the south of Victoria.”
The company intends to push an initial resource estimate for the project from a drilling program covering 2.5km of ground this year.
Samples were sent to ALS Canada to be tested using ME-MS41 Ultra Trace ICP-MS analysis with Aqua Regia digestion.
Meanwhile, the company has also received permits necessary for stripping part of the Parbec gold deposit in Québec to expose bedrock.
The area is currently coated by thin overburden on the south side of the Cadillac Break, which Renforth will chip and remove over the coming months.
Following this, Renforth will target the area with a mapping and sampling program to bring the gold deposit to surface, as well as professional surveying.
Trading Economics reports a decrease to the price of nickel over the past year by 8.36% to US$15,005 ($23,075) per tonne as of 15 August.
Write to Maddison Elliott at Mining.com.au
Images: Renforth Resources
