Otcwagon Initiates Coverage On Renforth Resources, Inc. (C:RFR) - Strong Buy Recommendation
Renforth Resources, Inc.: Cost-effective mining, Infrastructure in place and easily accessible AND more gold than estimated time and time again...
By: Renforth Resources, Inc.
Renforth Resources, Inc. (C:RFR) has come leaps and bounds over the past year. They have been diligently working and have completed the following:
1. Exploration work is ongoing at our wholly owned Parbec project, with a particular focus on the recently discovered Diorite Splay Zone in the sediments in the NW portion of the property. Renforth's geologists are in the field and have selected representative gold-bearing and non gold-bearing samples for several of the rock types at Parbec in order to do thin section work on the core. The goal of thin section work at this stage of development at the Parbec deposit is to identify the nature and setting of, and minerals associated with, gold which has been intersected in Parbec drill core.
2. In addition to this Renforth is working on a compilation and remodelling of our Parbec data, this has revealed that a surface prospecting campaign in June 2017 that focused on several areas of the property included results relevant to the recently discovered Diorite Splay Zone. The 2017 program was recognized then as resulting in the discovery of the Island Trench Zone with grab samples of 9.6 g/t Au and 3.69 g/t Au, as well as a channel of 2.12 g/t Au, all press released on July 12 2017. This discovery became the focus of the program, with other results obtained at that time unreported on, including in the Diorite Splay Zone. Renforth will be undertaking a prospecting and stripping campaign to follow up on the data generated in 2017 as soon as weather permits, anticipated to be mid-May. Details of that program will be announced once finalized.
3. Renforth completed a private placement financing raising $187,000 through the issuance of 2,240,000 common units ("Units") at $0.05 per Unit and 1,500,000 of flow-through units ("FT Units") at $0.05 per FT Unit. Each Unit consists of one common share and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.10 for a period of 24 months following closing. Each FT Unit consists of one common share and one-half common share purchase warrant ("FT Warrant"). Each FT Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.12 for a period of 18 months following closing. This fundraising was designed as sufficient to finance the field work at Parbec as well as compilation and field work on our wholly owned gold bearing Nixon-Bartleman property in West Timmins this spring. Details of planning for that program will be released once available.
4. At Nixon-Bartleman we are planning a Spring 2019 follow up to our Summer 2014 work where we announced, on September 10, 2014, that our initial reconnaissance mapping and sampling program resulted in the extension of the known surface mineralization to a length of 500m from the previously known 200m. In doing this our geologists cut channel samples which included 9.41 g/t Au over 1m in the known stripped area and 22.1 g/t Au over 0.3m and 3.90 g/t Au over 0.3m, which result in an average of 13 g/t Au over 0.6m in the extension of mineralization area.
This is just to name a few of the milestones they have met and surpassed. Renforth Resources, Inc. (C:RFR) has it ALL. How long are you willing to wait? Early investors have a great opportunity to be part of an amazing company that has properties right in the middle of the "QUEBEC GOLD RUSH" the ONLY question left is: WHAT ARE YOU WAITING FOR?