Renforth Resources Inc. (CNSX:RFR) has announce plans to commence a drill program at the New Alger Project later this month.
The program includes approximately 2500 metres of drilling to explore the potential for up-dip and strike extensions to the mineralization outlined historically and confirmed in a program completed in 2007 by the Company's joint venture partner, Cadillac Ventures Inc. ("Cadillac").
Cadillac previously carried out a drill program to test several anomalies identified by airborne geophysics as well as to drill the historically productive area of the property. The program, which included 12 holes totaling 3495 metres, had 2 objectives: i) to drill test several IP anomalies identified in a previously completed geophysical survey; and ii) to test for the potential mineralized shoots at depths ranging from 250 to 400 metres along the known mineralization of the former Thompson-Cadillac Mine, including the eastern area of the property where it is believed there may be a repeating structural occurrence of mineralization based upon periodicity associated with the contiguous Obrien Mine Property to the east of the New Alger property. All of these drill holes returned gold assays.
Several holes in the 2007 program returned elevated gold assays as high as 18 grams per ton from narrow sulfidized quartz veins and adjacent mineralized wall rock. It is well documented that in the Cadillac Break area, gold mineralization is found in narrow continuous vertically to sub-vertically dipping quartz veins that exhibit striking continuity from near surface to significant depths as evidenced in the adjacent O'Brien Mine and others along the Cadillac Break.
The New Alger property consists of 317.2 hectares underlain by the Pontiac and Cadillac sediments in the north and south of the property, and the volcanic rocks of the Piche Group with the associated Cadillac Break Zone occupying the central part of the property. Six known gold ore bodies all lie either in or close to the Cadillac Fault Zone, these being the New Alger, Central Cadillac, Wood Cadillac, Pandora and Lapa Cadillac.
Renforth also announces that it was granted an extension by Cadillac on its' obligations under the joint venture agreement on the New Alger Project. The agreement calls for an expenditure of $500,000 on the Project by November 1, 2010. Renforth's planned drill program as described above will fulfill the Company's commitment in that regard. Renforth has made the required payment of $25,000 as well as issued 1,000,000 common shares to Cadillac in accordance with the agreement.
Mr. Brian Newton, P. Geo., a "qualified person" pursuant to NI 43-101 has reviewed and approved the technical information in this press release on behalf of the Company.
Source: Renforth Resources Inc.