Renforth Resources (CSE:RFR) has delivered an initial resource estimate for the Victoria mineralised system within Malartic Metals Package (MMP) in Québec, Canada.
Following conducting 10,000m of drilling over 2.5km strike length within the 20km long structure, Renforth unveils the resource totals 125 million tonnes @ 0.15% nickel-equivalent for 49 million pounds of nickel-equivalent.
CEO Nicole Brewster says the initial resource establishes Victoria as a “large-scale, near-surface polymetallic nickel system”.
“With our large land package, hydro power, roads, and nearby processing plants we see a clear path to scale,” Brewster says.
“Our next steps – continuing our positive metallurgical sorting optimisation testwork and step-out and infill drilling – with an aim to grow and upgrade the mineral resource ahead of a Preliminary Economic Assessment.”
Vice President of Exploration Martin Demers says even if the deposit model is not fully understood at this stage, the fertility of the ultramafic units, even though currently relatively narrow, is supported by the polymetallic values.
“Geophysical anomalies currently indicate an extensive footprint upon which to follow-up,” Demers says.
“The ongoing integration of information will eventually allow regional scale mineralisation vectors targeting a larger deposit. The identification at Victoria of magmatic assimilation of sulphur and carbon can already be considered as a positive sign supporting the search for targets attached to a large magmatic system.”
As Mining.com.au previously reported, Brewster says the polymetallic nature of the mineralisation within the Malartic Metals Package insulates the project from commodity risk.
“The polymetallic nature of the mineralisation means that several commodities contribute to the economic proceeds,” Brewster notes.
The resource is pit-constrained with a strip ratio of less than 1:1 in a 2.5km-long, 200m deep pit, two potential starter pit options leverage the near-surface geometry of the deposit and advantageous Québec infrastructure to underpin future growth.
The MMP, covering 300km2, hosts several mineralised occurrences with a primary focus on the Victoria system. Victoria is a 20km-long sulphide nickel polymetallic system on the surface, with road access and hydroelectric power lines in place.
Renforth Resources is a gold explorer and developer focused on discoveries in Québec and Ontario, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Renforth Resources
