Renforth Resources to Leverage Gold Asset for Nickel Exploration in Quebec

Renforth Resources (CSE: RFR; US-OTC: RFHRF) plans to monetize its Parbec gold deposit to finance nickel exploration across its Malartic Metals package in Quebec, according to CEO Nicole Brewster. Speaking at The Northern Miner’s International Metals Symposium in London on December 2, Brewster emphasized the company’s strategy to capitalize on its gold asset to support its focus on nickel.

The Parbec gold deposit, situated on the Cadillac Break near Canada’s largest open-pit gold mine—Agnico Eagle Mines’ Canadian Malartic Complex—was last assessed in 2020. The pit-constrained resource was reported at 1.8 million indicated tonnes grading 1.77 grams gold per tonne for 101,400 ounces of gold. Additionally, 2 million inferred tonnes graded 1.56 grams gold per tonne, contributing another 100,300 ounces.

Renforth is updating the resource estimate using 28,000 metres of recent drilling data, including historical drilling results from the 1980s and 1990s. The company anticipates that the updated resource calculation will enhance the deposit’s value, making it a viable funding mechanism for advancing exploration of the 300 sq. km Malartic Package, which is rich in nickel potential.