Renforth Resources says it has fully divested in the Denain-Pershing property
O3 Mining Inc has fulfilled the conditions of the option agreement to attain the 80% ownership of Denain-Pershing property O3 Mining purchased the remaining 20% interest in the Property from Renforth
O3 Mining has also purchased the remaining 20% interest in the property from Renforth.
As noted in the statement, total consideration received by Renforth from O3 pursuant to the fulfillment of the option agreement and the purchase of the residual interest in the property consists of C$125,000 and 21,603 common shares of O3 Mining.
Nicole Brewster, President and CEO of Renforth offered the following comments in the press release:
Renforth Resources to Webcast Live at VirtualInvestorConferences com July 27th prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Renforth Resources Inc.: Renforth Again Intersects Gold in Infill Drilling at Parbec Demonstrating Continuity
PAR-20-125 also intersected 6m of 1 g/t gold, the 10.4m between these gold intervals was unsampled
PAR-20-125 was an infill hole within the eastern part of the property, the various intervals encountered successfully continue mineralized zones across section 5700E
PICKERING, ON / ACCESSWIRE / May 27, 2021 / Renforth Resources Inc. (CSE:RFR)(OTCQB:RFHRF)(FSE:9RR
) ( Renforth or the Company ) is pleased to update shareholders on the results of PAR-20-125, the last hole to report on from the 2020 drill campaign. This hole successfully infilled section 5700E, adding continuity across 25m to various mineralized zones within the Parbec deposit model, and, as PAR-20-125 is the only hole on line 5700E Renforth considers these results accretive to the Parbec deposit.
PAR-21-130 successfully "twinned" PAR-93-55, the assay results of which were not used in the May 2020 Resource Estimate for Parbec PAR-21-130 intersected mineralization in addition to that recorded
Renforth Resources Inc.: Renforth Infills and Extends Mineralization Down Dip at Parbec
PAR-20-115 was an undercut of PAR-20-107, results include 1.65 g/t gold over 3.7m, continuing mineralization down dip.
PAR-20-122 was testing for depth extension in the Discovery Zone area of Parbec s resource model, resulting in numerous mineralized intercepts, including 2.26 g/t gold over 1m.
PAR-20-123 was drilled to test historic (1940s) reported mineralization, resulting in numerous mineralized intervals which include a highlight of 7.03 g/t gold over 0.5m at 76.4m down the hole.
PAR-20-126 was an infill hole, drilled on a section with no other holes present and mineralization on each side. This hole successfully intersected mineralization with a highlight of 5.2 g/t gold over 0.45m.